Bosses — help your staff stay healthy and reap the rewards - Sunday Times

Richard Harpin Sunday Times: Sunday September 03 2023

There were a few too many cocktails and unnecessary desserts, but that’s the summer holidays for you. Now it’s back to work and back on the treadmill. A few pounds heavier, September tends to be when we reprioritise our health — but why just our own?

Business leaders need to help shape a healthier nation, encouraging people to adopt better habits, make more informed decisions and look after themselves better. There’s a moral and financial imperative for doing so.

When I was born, the average life expectancy in Britain was 72, the 10th- highest in the world. It’s now 82 but we’re ranked 29th, with about six million people of working age out of the jobs market due to health issues.

Last week, a new study revealed that British men are twice as likely as women to suffer heart attacks. Little wonder that in 2022, there were more working days lost to ill-health than ever — 186 million.

Further, a report last year from the professional services firm Deloitte highlighted the financial impact on businesses of health-related issues such as absenteeism, with costs peaking at £56 billion. By supporting employees to look after their health and get more exercise, businesses could generate a return of about £5 for every pound invested.

When a workforce is more engaged, health really does become wealth. So leaders should be strategic in making a priority of wellbeing, creating a culture in which people feel supported and supportive.

One reason for our high staff retention at both Checkatrade and HomeServe is our joined-up approach to wellbeing. We offer gym membership, discounts on fitness equipment, fully funded counselling, and a summer-hours programme to promote a better work-life balance. That’s on top of all the expected healthcare benefits.

This kind of investment can also have profound benefits for society. Think of how menopausal women are now looked after rather than stigmatised in the workplace.

But there’s so much more we can do. A post-Covid report by the Chartered Institute of Personnel and Development suggested that only 51 per cent of employees thought companies had an effective wellbeing strategy in place. Once, new recruits focused on salary and holiday entitlement; now it’s about healthcare provision.

Surveys abound to find Britain’s healthiest workplace and, consequently, top-ranked businesses are better able to attract and retain the best millennials and Gen Zers. By influencing their staff to take better care of themselves, businesses can share some of the burden with our health professionals. They can go further, too - a recently launched scheme to encourage private companies to build 160 community diagnostic centres, and run them in collaboration with the NHS, is just such an idea.

Which brings me to the other reason why, as a growth-fixated entrepreneur, I believe that health has to be a priority. The NHS is a precious asset but its greatest strength is to treat us when we’re sick. Business leaders should create and build businesses with technologies and services that help people avoid getting ill in the first place.

The opportunities are huge.

For instance, Tim Spector’s ZOE healthcare app — which was adapted to be a Covid symptom tracker — has reverted to its original purpose of using Bluetooth technology to create personalised nutrition programmes. It is now valued at £200 million.

I have invested my own money in a low-cost chain of gyms, Synergym, expanding them from 13 outlets in 2019 to 69 today, fuelled by a desire to encourage more active lifestyles in an affordable way.

This is more than a health issue, it’s a leadership one, and four key strategies for people running businesses spring to mind:

● Organisations promoting wellness always see a significant return on investment. Add benefits in an iterative way — emotional, physical, social, financial, intellectual, occupational and environmental — and listen to your teams. Analyse what works and use data to improve the programme.

● Consider how to help others contribute — for instance, influencing supply-chain partners to improve their impact on society.

● As a leader, a fitness coach could be as important as a business coach. Not just because it raises your performance, but as role models, leaders influence others to adopt healthier habits.

● We must invest in firms that are focused on improving the health of the nation. For instance, there is huge scope to develop a vitamins industry that targets specific health conditions rather than overall health. New firms such as Juvia, which looks at gut health, are responding to the needs of a growing population.

As for me, I’ve got another triathlon to train for and another birthday cake to devour. I’ll let you decide which one I’m least looking forward to.

Richard Harpin is founder and chairman of HomeServe & Growth Partner