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Medibank and Deloitte to lift the lid on workplace wellbeing in Australia
23 November 2016: Private health insurer Medibank and professional services firm Deloitte have joined forces to help Australian companies understand, measure and improve the wellbeing of their people and workplaces.
Launching in early 2017, the Wellbeing@Work Index will be Australia’s most comprehensive corporate wellbeing index. Incorporating insights from Medibank’s health expertise, coupled with research from Deloitte Access Economics and Deloitte’s Human Capital consulting capabilities, the Index will measure wellbeing from the perspective of both employees and the businesses they work for.
Wellbeing in the workplace has been shown to drive employee effectiveness and engagement, boost business performance and help to attract and retain top talent. It also has significant financial benefits, with a greater focus on wellbeing a tonic to absenteeism, which has a direct cost to the Australian economy of $44 billion* each year.
Deloitte CEO Cindy Hook said: “I am personally passionate about wellbeing in the workplace. As we have found at Deloitte, wellbeing is becoming an increasingly important talent strategy and differentiator for corporate Australia, as the workforce diversifies, employee retention intensifies and the war to recruit the best talent continues.
“Wellbeing is much talked about in Australia, and embraced by many with the best intentions. But there are currently no tools that allow Australian organisations to comprehensively measure and benchmark their health and wellbeing strategy and investment.”
Medibank CEO Craig Drummond said: “Medibank’s For Better Health purpose and strong focus on wellbeing in our own organisation puts us in a position to share our insights to help other businesses get the most out of their health and wellbeing programs.
“I hope the Index puts the spotlight on workplace wellbeing and raises awareness around the benefits it can bring to both employees and businesses.”
Available to organisations with more than 100 employees, the Wellbeing@Work Index will be the only workplace index that measures wellbeing across four pillars – Mind, Body, Purpose & Place – and from the perspective of both employees and the organisation.
For more information, and to register interest, visit the Wellbeing@Work Index website.
* AIG Absenteeism & Presenteeism Survey Report 2015