The missing P in your triple bottom line

There are decades where nothing happens, and then weeks where decades happen. The last 3-4 years have transformed the way we live and work. The future of work has arrived. But is it working? Are we happier, or more productive?

In a post-pandemic world, people are prioritising belonging, purpose, and flexibility. There’s a focus on wellbeing and taking better care of ourselves.

We all know companies who offer bikes, bananas, yoga, and cake, and promise to take wellbeing seriously. But let’s be honest. It’s not enough. And it only addresses the symptoms of poor wellbeing and adds to the individuals to do list. It’s like putting on a plaster on to a much larger issue; the cause of poor wellbeing, such as: workload, toxic cultures, stifling processes, unrealistic deadlines etc.

Our report, The Future of Wellbeing, found that many organisations are stuck in Wellbeing 1.0 – providing lots of wellbeing solutions and reactive schemes, like meditation apps, wellbeing webinars and pension advice. But these leave employees to fend for themselves.

The 2022 Deloitte mental health report found that, in total, the estimated global annual cost of absenteeism and presenteeism (attending work while ill) is £56bn.

Did you know that 61% of employee exits were attributed to mental health issues?

Those stats should make everyone sit up and listen. Wellbeing 1.0 isn’t working.

We know we’re the best version of ourselves when our needs, interests, and expectations are considered. These all create a sense of belonging – the number one driver of wellbeing. So how do we create long-term solutions that address the root causes, and create organisations where people can thrive?

Welcome to Wellbeing 2.0, Human Sustainability. Moving to a holistic approach where wellbeing is the ultimate outcome.

Human sustainability is about reconfiguring organisations, the value chain and society to ensure that people can thrive. It’s a mindset shift in how we define and design work, interactions with others and considers how work itself impacts the wellbeing of employees , their families, their communities, and ultimately, the planet.

Wellbeing 2.0 asks us to take a holistic look at the workplace, how we build our cultures and structure organisations. It makes us ask ourselves: “What are the root causes of poor wellbeing? How can we change things from top to bottom and prioritise wellbeing at work?”

More organisations are shifting their strategies towards a triple-bottom-line approach that focuses on profits, planet, and people. The last pillar has always been overlooked, despite it being an intrinsic part of the other two. People make the decisions that impact our environment. People design and execute the strategies that drive results and profits. And people are ultimately responsible for how we shape the future of work and our planet.

Wellbeing at work matters. But it’s relatively new, with only 1-2% of companies measuring wellbeing. Many think it’s too difficult to define and measure. But it needn’t be. In fact, it overlaps with three key business areas:

1. Diversity and Inclusion (D&I). Organisations with a more inclusive and diverse workforce benefit from a wider range of knowledge, opinions, and views. This accelerates business success, creating cultures where everyone can be their true self.
2. Safety programmes. When employees feel safe, free from injury, and healthy, organisations reap the same benefits as those in the D&I space.
3. Purpose. When workers experience fulfilment, organisations experience the same benefits seen in D&I and Safety programmes.

These approaches are different but have the same results. So, what do they have in common?

1. Culture: The way we do things, and why.
2. Experience of leadership at all levels.
3. Psychological safety: The ability to bring your whole self to work, feel safe, and trusted to have conversations.
4. External appeal: They’re attractive to candidates, which gives organisations a competitive advantage in the job market.

Businesses must reduce stressors and stop piling solutions onto people who are already overwhelmed. Companies that address the causes of poor wellbeing are more likely to create environments for people to thrive in. They also attract more talent and have a measurable return on investment (ROI).

Are you ready to take your organisation into Wellbeing 2.0?

We can help you to make strategic, data-driven decisions, and investments that create meaningful, and sustainable work environments where people thrive. To find out more take a look at our Future of Wellbeing page or contact a member of our team and start your journey today.