Partnerships that boost employee wellbeing
A quote that’s been used to death is a “happy worker is a productive worker”. Clearly there’s a lot of truth in this and quite a bit of research to back it up and in fact, an Oxford University study titled ‘Does Employee Happiness have an Impact on Productivity?’ looked into it last year. If you don’t want to read through 47 pages of academic study and formulae that make you glad not to be studying maths anymore, the conclusion was….yes.
The BT call centre employees they monitored made around 13% more sales in weeks they reported as being happy. There were a number of factors that impacted this number and things like ‘the state of the weather’ can be quite difficult to control, but there are real measures that can be taken to ensure a more productive workforce.
Wellbeing at work
The Mental Health Foundation estimates that 12.1% of the UK’s total GDP is generated by people living with mental health problems, that’s £226bn. It could explain why there’s been a shift in how modern employee benefits packages are being approached. They’re far less transactional and, often, used as a way to attract, retain and engage workers. A recent survey found concepts such as wellbeing are becoming a larger consideration of what to offer employees. It’s estimated that it costs around £30,000 for a company to replace a member of staff, so providing perks that truly improve the lives of your workforce are a no-brainer.
These benefits can take a number of forms. In terms of physical health, it can be quite straight forward - discount on gym memberships, cycle to work schemes or daily yoga sessions, but the topic of mental wellbeing, and how to ensure it’s being addressed isn’t quite as easy to tackle.
More than 20% of adults in the UK admit to always or often feeling lonely, and in millennials living in London, nearly 70% say they feel isolated by the city. This isn’t a concept that’s difficult to understand. If someone is new to a city, with long commutes, even longer working days and small to non-existent social circles - where do you find the time to make friends? Loneliness can be difficult to ‘diagnose’ in someone; It’s not always clear that they’re feeling like this or how to find a solution to help.
How Lyvly works to help your wellbeing
Apartments in some of our buildings come with gyms that are free to residents, a couple even have pools, which helps address the physical wellbeing needs of members. However, you could have a modern building to come home to, a nice room to live in, and Lyvly taking care of the bills - but still not feel connected. As a company, tackling loneliness and social isolation is an issue we consider integral to the product we are offering.
One of the biggest selling points we offer to our corporate partners, is Lyvly’s support network for our members. Every new resident moves into a home with vetted housemates, a neighbourhood with a community leader that brings local members together and a city-wide community connected via WhatApp groups and regular events. As soon as you move in, a social circle of more than 450 people is plonked at your feet. The average length members stay in a Lyvly home is 18 months. It enables our members to create long-lasting and meaningful bonds, rather than fleeting connections.
Our partnerships with companies like Inmarsat and Tradeshift, are mutually beneficial - to us, them and their workers. We can continue to grow a community of incredible members, our partners are able to offer a genuine perk that helps a new employee settle in London and, in turn, get up to speed at work much quicker.
The package we offer to members who work for our partners are aimed specifically at making the transition to London life as smooth as possible. Amongst other things, there’s money off their first month’s rent, a guide to the city and a team whose responsibility it is to welcome new members to their homes.
Our community and dedication to members’ wellbeing isn’t just marketing talk, it’s literally the focus of our business. We want to help bring connection and meaning to people’s lives, which benefits them and the people they work for. It’s why we see ourselves as a hugely attractive partner for businesses and is why more companies are choosing to work with us.