In today’s competitive climate preventative health isn’t just a perk, it’s how we hold onto talent. That means a weak, poorly designed or simply an outdated wellbeing strategy is actively costing you. Talent retention is a primary challenge in today’s current climate and wellbeing is proven to grow as a top priority for many employees. In fact, 85% of employees would consider leaving a company that does not prioritise wellbeing – this is a significant increase from 2022, where the percentage was 68% (Rebus Recruitment, 2026).
So if you aren’t prioritising wellbeing and simply have no wellbeing strategy in place, it’s time to seriously consider one. The right strategy is proving more important and valuable to people, over large amounts of remuneration. Recent trends show that 70% of employees report that wellbeing support influences their decision to stay with an employer.
Despite the clear link between wellness and retention there is often a disconnect between intent and execution. Statistics show that 60% of employees still rate their current wellbeing support provision as poor or average. Workplaces are evolving. The way in which people experience work are being reshaped by key factors such as flexible working, rising performance expectations and economic uncertainty. Its important businesses adapt and evolve with the changing world of work. This means forward thinking and adapting so wellbeing is truly embedded into your people strategy, rather than seeing it as a standalone initiative.
Why the disconnect? Often the barriers are communication and capacity. Only 18% of employees feel consulted in relation to their wellbeing needs, and 50% state that time is the biggest barrier to engaging with support.
The strategic HR benefits of wellbeing
We have made it pretty clear the risks and costs of not having a wellbeing strategy so let’s look a little deeper at some wins. As an SME ourselves, we understand that every investment needs to demonstrate clear ROI. Adding new elements to your business has to make strategic and commercial sense. So we’ve highlighted some key strategic benefits that a relevant wellbeing strategy can deliver. See some tangible, measurable outcomes below:
Stronger retention rates
As previously highlighted, employee turnover is costly. Replacing talent involves significant recruitment expenses, onboarding time, and lost productivity. The financial and operational impact of these transitions often exceeds the investment required to implement a proactive wellbeing strategy.
Data driven results
Wellbeing statistics show valuable insight and data into increased morale, motivation, productivity and organisational culture. The result? An engaged, highly performing, workforce, leading to the achievement of business goals.
Reduced sickness absence and related costs
A comprehensive wellbeing strategy reduces workplace sickness by addressing physical, mental, and emotional health, with 84% of employers reporting reduced sickness absence. The ROI? Lower absenteeism, reduced presenteeism and improved productivity all of which are hard hitting costs associated with poor employee wellbeing.
Reminder – SSP is becoming a day one right in April 2026, increasing risk for businesses as employees will be paid for the 1st day off sick.
It serves as a reminder that there is no better time to sort your wellbeing strategies.
These are only a handful of the benefits prioritising wellbeing can bring to your business. Moving from just the ‘nice to have’, it is now a business imperative.The right employee wellbeing strategy directly impacts your company’s performance, driving your revenue growth and reducing operational costs.
Don’t underestimate the value of investing in employee wellbeing in today’s financial market.
How we can support your business
Improving these statistics starts with practical steps. At McMillan and Associates, our highly experienced and CIPD qualified consultants can help turn wellbeing from a standalone concept into a measurable business strategy, providing benefits to both the employee and employer. We will work with you to design a strategy tailored to fit your business to ensure your investment delivers tangible results.
To find out more and to start your journey, email lucy@mcmillanandassociateshr.com – don’t wait until you’re fighting to retain your top talent before taking action.
Free support available
We are pleased to provide the following fully funded offers to businesses in York and North Yorkshire.
Attend our in-person trailblazer masterclass held at our Clifton Moor offices – join us for the upcoming session on ‘Managing sickness, absence and making adjustments’. This in-person event will be held at our Clifton Moor offices on Tuesday 24th March from 09.00am – 11.00am.
Please note that booking is essential as places are limited. Click on this link: https://www.eventbrite.co.uk/e/well-being-at-work-managing-sickness-absence-and-making-adjustments-tickets-1967162730682?aff=oddtdtcreator
Access our HR support: We offer 2 hours of HR support with our experienced HR Managers, fully funded, to help guide you through any challenges.
To book your session, email zoe@mcmillanandassociateshr.com
This project is supported by York and North Yorkshire Combined Authority, using funding from the Department for Work and Pensions’ Get Britain Working Economic Inactivity Trailblazer