Introducing WellPro Workplace
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Forecast, measure and track thr return on investment from wellbeing and productivity initiatives in the workplace. WellPro uses data from over 30,000 organisations to provide sector specific forecasts of added value from wellbeing and productivity initiatives implemented in the workplace
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Introducing WellPro Workplace
- 2. 2 Wellbeing, Productivity & Engagement – We’ve been here before 1906 • Wellbeing: The Larkin Soap Building (left) 1920s • Productivity: Western Electric Factory 1950s • New ways of working: Peter Drucker 1980s • People focus: W. Edwards Deming 1993 • Technology: Eric Brynjolfsson
- 3. 3 People v’s Property 10% Cost 90% Cost Service Sector 84% UK ≐33.5m working people Source: ONS
- 4. 4 The War for Talent – has only just begun. The ONS forecasts 13.5million jobs will be created between 2017 and 2027 In that time only 7million will be joining the workforce from our schools and universities
- 5. Actual 2017 : 100 1971 - 2007 trendline to 2017 : 124 0 20 40 60 80 100 120 140 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 UK Whole Economy: Indexed output per hour worked 5 The Productivity Problem Productivity is 24% below where it should be
- 6. 6 Engaged at Work? Most people are not Activeley Disengaged 24% Not Engaged 63% Engaged 13% Worldwide Employee Engagement Activeley Disengaged 17% Not Engaged 57% Engaged 26% UK Employee Engagement Source: GALLUP, STATE OF THE GLOBAL WORKPLACE 2012
- 7. 7 Calculating the returns of a people based focus • Organisations recognised as “Best Places to Work” typically see stock market returns 2x market average • It costs 150% to 200% of a salary to replace someone • Employer/Employee trust can: reduce stress by 70%, Increase energy by 28%, Improve staff retention by 69% Improve satisfaction by 70% Source: The Neuroscience of Trust; Paul Zak Top performing firms typically demonstrate 19% increase in productivity 22% greater innovation 33% less absence
- 8. 8 Measuring the right things Staff retention Absenteeism Air Quality Lighting Output Cost per sq. ft. Hours worked People per m2
- 9. HR data from 28,000 organisations Operational Performance ProductivityWellbeing Forecast, measure & track metrics 9 Using WellPro to forecast the returns – worked example 100 people Occupying 10,000sqft £8.5m annual payroll 33 days holiday p.a 3.6 days absence p.a 15% staff change p.a
- 10. 10 Reducing absence Reduce absence by 33% £46,571 on the bottom line Offset £5 sq ft +122 people days
- 11. 11 Retaining people Reduce churn by 33% £211,140 on the bottom line Offset £21 sq ft +555 people days
- 12. 12 Improving productivity Improve output by 5% (24mins/day) £425,000 on the bottom line Offset £43 sq ft +5 people
- 13. 13 Annual commercial benefit £682,711 on the bottom line Offset £69 sq ft +8 people