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Good Day at Work Conversation 2019 - Barbirolli Room
- 1. Bridgewater Hall, Manchester 17th September 2019 Personalising Mental Health & Wellbeing
- 2. Prof. Cary Cooper Founder, Robertson Cooper & University of Manchester Welcome Prof. Ivan Robertson Founder, Robertson Cooper Karen Leftley Good Day at Work Host
- 3. Bruce Daisley EMEA VP of Twitter, author and host of the Eat, Sleep, Work, Repeat podcast Keynote Rediscovering the joy of work
- 5. TheJoyofWork
- 9. BURNOUT
- 11. “Nobody ever changed the world on 40 hours a week” Elon Musk SOURCE: @brucedaisley#MRSLive
- 14. Impact of long working
- 16. TheJoyOfWork
- 19. “Employeeswho receive rewardsfordoing boring work are making themselvessick” Source:DanCable,LondonBusinessSchool
- 30. 15 mins -19% stress 23% performance @brucedaisley
- 39. Making work better panel Dr Heidi Edmundson Whittington Health NHS Trust Host: Bruce Daisley EMEA VP of Twitter, author and host of the Eat, Sleep, Work, Repeat podcast Tom Kegode Lloyds Banking Group Prof. Cary Cooper Robertson Cooper
- 84. Innovation isn’t easy How to lead a team with Psychological Safety Parallel Session 1 Barbirolli Room Nick McClelland Mercer Marsh Benefits Challenging the Wellbeing Mindset Choir Foyer Philip Chin & Juliet Harris Publicis Groupe Let’s talk mental health – driving culture change in the ‘Mad Men’ world Circle Foyer Tom Kegode & Aidan Webb Lloyds Banking Group Charles Halle Room Nicky Runeckles Monticola Consulting Ltd ‘Watch the short film ‘Skin’ and participate in a discussion on the future of digital health’
- 85. How to ensure your mental health and wellbeing investment delivers results for employees personally and your business Lunch Break in Circle Foyer Parallel Session 2 Resumes at 12:45 Barbirolli Room Jeanette Makings Close Brothers New insights into the state of the UK’s financial wellbeing Choir Foyer Karen Johnson Barclays Corporate Banking ‘This is Me’ – Building a person-centred mental health support network Circle Foyer Charles Halle Room Nicky Runeckles Monticola Consulting Ltd ‘Watch the short film ‘Skin’ and participate in a discussion on the future of digital health’ Jack Evans Robertson Cooper
- 86. H E A L T H W E A L T H C A R E E R A G O O D D A Y A T W O R K C H A L L E N G I N G T H E W E L L B E I N G M I N D S E T September 2019 Nick McClelland
- 87. © MERCER 2019 87 T O D A Y 87 • The problem with wellbeing… • Why the current approach is flawed • Latest thinking & Research • Is there a solution and are there magic ingredients? • Will it work? • What will happen if you get it right?
- 88. © MERCER 2019 88 The Result W E L L B E I N G J O U R N E Y A S Y S T E M O F D E C L I N E 88 * Mental Health at Work Report 2018 ** Britain’s Healthiest Workplace 2018 61 % Experienced a mental health issue due to work* 34% Financial situation negatively affects mental health* 37.2 % Suffers sleep deprivation** 65.2% Poor nutrition** 30.1% Lack of physical activity** 29.5% At least one chronic condition** 6 5 4 3 2 1 High cost High absence Low Productivity Loss of talent
- 89. © MERCER 2019 89 W H A T A R E W E D O I N G A B O U T I T ? 89
- 90. © MERCER 2019 90 W E S T A R T E D T H I N K I N G … . 90 LowNeuroticism HighNeuroticism High Conscientiousness Low Conscientiousness Happy Savers Worried Spenders Worried Savers Happy Spenders
- 91. © MERCER 2019 91 B A C K G R O U N D T O T H E R E S E A R C H 91 • Personality • Health Identity • Past Health Experience • Likelihood of engaging in health behaviours • The role of reward, recognition & competition • Perceptions of health risks • Health Outcome expectancies • Current health and wellbeing • Health & Wellbeing Culture • Health & Wellbeing Communications N = 2,500 42% Male 58% Female Average age: 39 Range: 18-70 570,000 data points!! We could breakdown the results for all pillars of wellness: Physical, Mental, Social and Financial but…
- 92. © MERCER 2019 92 T H E K E Y F I N D I N G S 92 KEY FINDING: a clear link in the importance of considering all wellbeing pillars as part of your strategy and that people’s personal needs are not embedded in one specific pillar People are twice as likely to state physical wellbeing over mental wellbeing is the key to happiness! The majority of people believe in the importance of wellbeing however confidence in approach and maintaining is very low Conscientiousness, Neuroticism and Extroversion Personality traits has a stronger influence on our wellbeing identity than actual outcomes A resounding majority of people would be proud to work for an organisation who embeds wellbeing in their corporate culture Not all is equal Its complex! Culture matters! Psychology has a key role to play
- 93. © MERCER 2019 93 I N G R E D I E N T S 93 Personality Culture Habits Identity Mindset
- 94. © MERCER 2019 94 A Q U I C K F O C U S O N M I N D S E T 94 Behaviour Change Sensitising Warming Up Creating a trust and safety zone for your people Recognising we are all human and individual Moving from serious to fun and playful. Encouraging engagement
- 95. © MERCER 2019 95 A Q U I C K F O C U S O N H A B I T F O R M A T I O N 95 Trigger Action Reward Investment Habit Loops
- 96. © MERCER 2019 96 Communications strategy T H E N O R M A L A P P R O A C H 96 Data (e.g. A survey or Claims analysis) Anecdotal (e.g. feedback from survey or focus groups) Solutions and actions Education Platform & Products PURPOSE
- 97. © MERCER 2019 97 Communications strategy T H E N O R M A L A P P R O A C H 97 Data (e.g. A survey or Claims analysis) Anecdotal (e.g. feedback from survey or focus groups) Solutions and actions Education Platform & Products Do you really want to support your people’s wellbeing?2 Do you want to tick the corporate box and be seen to be doing something?1 PURPOSE
- 98. © MERCER 2019 98 T H E V A R I A T I O N 98 PURPOSE Data (e.g. A survey or Claims analysis) Anecdotal (e.g. feedback from survey or focus groups) Education Platform & Products Solutions and actions Communications strategy Culture Habits Identity Mind-set Personality
- 99. © MERCER 2019 99 W H A T W I L L T H E R E S U L T S B E ? 99 1 2 1 2 Overall Rank Wellbeing Rank
- 100. © MERCER 2019 100 A D I F F E R E N T R E S U L T 100 Employee • Inclusion • Diversity • Making a difference • Trust • Safety • Investments • Loyal to the customer • Organisational Wellbeing
- 101. © MERCER 2019 101 R I S K A N D M O T I V A T I O N T O C H A N G E B R I T A I N ' S H E A L T H I E S T W O R K P L A C E 2 0 1 8 101 0 10 20 30 40 50 60 70 80 90 100 0 10 20 30 40 50 60 70 80 90 100 % M O TI V A T E D % AT-RISK Exercise Nutrition Smoking Drinking Weight
- 102. © MERCER 2019 102 C O M - B M O D E L O F B E H A V I O U R C H A N G E 102 OPPORTUNITY Physical and social CAPABILITY Physical and psychological MOTIVATION Automatic and reflective BEHAVIOUR
- 103. © MERCER 2019 103 Mercer Limited is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales No. 984275, VAT No. 244 2517 79. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. © June 2019 280459
- 104. How to ensure your mental health and wellbeing investment delivers results for employees personally and your business Lunch Break in Circle Foyer Parallel Session 2 Resumes at 12:45 Barbirolli Room Jeanette Makings Close Brothers New insights into the state of the UK’s financial wellbeing Choir Foyer Karen Johnson Barclays Corporate Banking ‘This is Me’ – Building a person-centred mental health support network Circle Foyer Charles Halle Room Nicky Runeckles Monticola Consulting Ltd ‘Watch the short film ‘Skin’ and participate in a discussion on the future of digital health’ Jack Evans Robertson Cooper
- 105. How to ensure your mental health and wellbeing investment delivers results for employees personally and your business Parallel Session 2 Barbirolli Room Jeanette Makings Close Brothers New insights into the state of the UK’s financial wellbeing Choir Foyer Karen Johnson Barclays Corporate Banking ‘This is Me’ – Building a person-centred mental health support network Circle Foyer Charles Halle Room Nicky Runeckles Monticola Consulting Ltd ‘Watch the short film ‘Skin’ and participate in a discussion on the future of digital health’ Jack Evans Robertson Cooper
- 106. Strictly confidential New insights into the UK’s financial wellbeing Jeanette Makings
- 107. 107Strictly confidential Important information and risks Please note that this presentation is provided to you following the attendance of a Close Brothers seminar. The material is intended for you and must not be shared with anyone either inside or outside your organisation without prior permission from ourselves. This material is for information purposes only. It is not intended to be relied upon to make any investment decision. Although the information herein has been obtained from sources believed to be reliable, neither Close Brothers Asset Management or any of its employees guarantee its accuracy, completeness or fairness. The most recent data has been used where possible. Except in so far as liability under any statute cannot be excluded, no member of Close Brothers Asset Management accepts liability (whether arising in contract, tort or negligence) for any error or omission in this document. The information contained in this presentation is believed to be correct but cannot be guaranteed where data is sourced from third parties. Opinions constitute our judgment as at the date shown and are subject to change without notice. This document is not intended as an offer or solicitation to buy or sell securities, nor does it constitute a personal recommendation. • Past performance is not a reliable indicator of future returns. • No investment, or investment strategy, is without risks. The value of investments will go up and down and clients may get back less than invested. • Any tax benefits depend on individual circumstances. Tax rules are subject to change. Unless otherwise stated, the source of all information or figures is Close Brothers Asset Management
- 108. 108Strictly confidential The growing recognition of financial wellbeing Professor Sir Cary Cooper Leading expert on workplace wellbeing Although many businesses have made great strides to look after the mental wellbeing of their employees over the last decade, not as many have supported their financial wellbeing. Physical FinancialMental
- 109. 109Strictly confidential Co-dependent and interlinked
- 110. 110Strictly confidential What are employers doing about it?
- 111. 111Strictly confidential Poor financial wellbeing is not just ……. Bad for them It’s also bad for business
- 112. 112Strictly confidential What is financial wellbeing? • Control over day-to-day finances • Being able to absorb financial shock • On track to achieve financial goals • Having the financial freedom to make the choices to enjoy life
- 113. 113Strictly confidential 7 areas of financial health 1 Budgeting & Planning 2 Debt 3 Protection 4 Retirement 4 Property & mortgages 4 Savings & investments 7 Tax
- 114. 114Strictly confidential Measuring the UK’s workplace financial wellbeing • 1,000 organisations • UK • All regions • All sectors • 5,000 of their employees • All ages • All wealth levels Financial Wellbeing Index 2019 research
- 115. 115Strictly confidential New insights into the state of the UK’s financial wellbeing Report App
- 116. 116Strictly confidential The UK’s financial wellbeing
- 117. 117Strictly confidential Insight in each area Debt Protection • 33% have done nothing • 22% don’t have a rainy day fund • 28% more only have one that would cover 1 month • 77% don’t have a current will • 4% have registered an LPA Budgeting & planning • 55% don’t have a plan • 62% of females • 60% of 35-54 • 22% more have a plan but haven’t updated it recently • 35% don’t budget • 3% use app/ online tools • 12% debt is significant issue • 14% for women • 17% for millennials • 6% had ‘bad’ debt ie pay day loans • 7% had ‘bad’ debt ie rent/ loan arrears 49 68 43
- 118. 118Strictly confidential Insight in each area Savings & investments PropertyRetirement • 36% feel financially prepared for retirement – 54% aged 55+, 26% women • 43% confident retire at desired age – 58% aged 55+, 33% women • 62% will rely on workplace pensions, 71% aged 55+, 51% millennials • 24% working in retirement • 16% inheritance • 27% housing costs > 50% monthly income incl 10% > 70% monthly income • 34% for millennials • 65% without home want to get on property ladder, 80% millennials • Cash & Cash ISA/LISAs most popular to save for house deposit – 42%, 56% for millennials • 10% have no savings goals, 7% millennials • 54% only confident achieving short term goals • 45% medium, 37% long term • 55% only confident choosing suitable short term savings product – 49% & 43% for medium & long terms 50 61 54
- 119. 119Strictly confidential Insight in each area Money worries Tax • 37% don’t know what tax allowances/ reliefs available • 38% more don’t know if they are using them • CGT is least understood tax - 5% understanding it completely • 15% don’t know if they need to complete a tax return – 21% women • 51% happy with state of finances – 52% millennials • 77% worry about money – 85% millennials, 83% women • 3 biggest money worries: 1. Funding retirement 2. Paying off debts 3. Coping if lost job/ reduced income 49 57
- 120. 120Strictly confidential The gender divide 47% Worry about money 32% £39k Pension savings £119k 48% Unprepared for retirement 25% 48 UK financial wellbeing index 59 1/3 Confident in choosing financial products 1/2
- 121. 121Strictly confidential The age divide 18-34 55+35-54 51UK financial wellbeing index 6152 £44kPension savings £153k£87k £15kAve non-pension savings £42k£26k 52%Happy with finances 59%47% 53%Worry about money 20%36%
- 122. 122Strictly confidential The impact on employers 77% of employees admit that money worries impact them at work which is clearly bad for business 22% Reduced productivity 22% Loss of talent 19% Higher absences 19% Demand for higher salary 48% Fewer people retiring
- 123. 123Strictly confidential When is optimism a bad thing?
- 125. 125Strictly confidential Employer’s position Current financial wellbeing strategy Top reasons for not having a financial wellbeing strategy Top offerings to improve financial wellbeing? 48% have no financial wellbeing strategy 26% have a limited strategy 18% have a comprehensive strategy 37% employers say it’s not a top priority 26% don’t have the budget 24% don’t see the value in it 28% offer retirement seminars 26% offer Employee Assistance Plan 20% offer discount vouchers
- 126. 126 Components needed to improve financial health Engage employees with financial health Financial education – across all 7 areas, not just workplace benefits Access to advice & range of savings solutions Fair reward & suitable benefits
- 127. 127Strictly confidential Engaging employees with financial health Success is…. comms that are: 1. Clear 2. Relevant 3. Personal 4. Arrive at the right time 5. Inspire employees to act Success means ……… coordination and an ongoing commitment Easy implementation Targeted / personal Timing Promoters / champions / forums Examples Multi-channel & choice
- 128. Crown Place, London EC2A 4FTIssued by Close Asset Management Limited (Company No.1644127) which is registered in England and Wales, is authorised and regulated by the Financial Conduct Authority and is a subsidiary of Close Brothers Group plc. Close Asset Management Limited uses the trading name Close Brothers Asset Management. Registered office at 10 Thank you & questions
- 129. Bruce Daisley talks to Dr Pippa Grange, Head of People and Team Development at the Football Association
- 131. Bruce Daisley talks to Dr Pippa Grange, Head of People and Team Development at the Football Association
- 132. Personalised mental health and wellbeing – a force for good? Host: Nicky Runeckles Founder, Monticola Consulting Ltd Dr Iain Brassington University of Manchester Law School Prof. Cary Cooper Founder, Robertson Cooper & University of Manchester Dr Judith Grant Mace Dr Wolfgang Seidl Mercer Marsh Benefits
- 133. Bridgewater Hall, Manchester 17th September 2019 Personalising Mental Health & Wellbeing
- 134. Adam Kay Award-winning comedian, ex-NHS doctor, TV writer & Sunday Times best-selling author and columnist. Keynote This is Going to Hurt – Good Days and Bad Days at work
- 136. Bridgewater Hall, Manchester 17th September 2019 Personalising Mental Health & Wellbeing