STAND NUMBER: 512
The cost of mental ill health to UK business is rising. The estimated cost to the law industry through presenteeism, absence and staff turnover averages at £2253 per employee per year. How can firms protect their employees from the demand and stress of the industry? How can firms achieve the highest engagement rates and ROI`s? We think we have the answer...
BetterSpace is a holistic workplace wellbeing app which empowers employees to manage and protect their own mental wellbeing. Through a marketplace app, users can choose from a huge range of personalised, hyper local and carefully vetted resources which are good for mental and physical wellbeing.
The platform focuses on building mental resilience, managing stress and giving the user tools to become in tune with what feels good and works for them. Recovery resources are available through the app, as well as integrations of existing employee benefits such as gym passes and counselling services.
With the rising cost of mental illness to UK business (16% since 2018*) wellbeing solutions are becoming a priority investment for businesses worldwide. Deloitte`s 2020 report demonstrated that the best ROIs are on solutions which focus on prevention of illness and build on one`s own literacy, offering returns of up to 11:1.
`If you look at this as a return on investment rather than a cost, it quickly becomes a no brainier` - Charlie Jacobs - Senior Partner, LinkLaters
With existing products offering employees a `one-size fits all` approach to wellbeing, it is no surprise that traditional EAP programs average 2-5% engagement and at the higher end, market leaders achieving only a 30% engagement rate.
BetterSpace has so far averaged an 89% engagement rate; demonstrating that our solution not only offers attractive ROIs for employers, but most importantly genuinely engages users and guides them in taking control of their own wellbeing.
Come and visit us at stand 512 to discover how you could change the wellbeing of your team.
*'Mental Health; Refreshing the case for investment' , Deloitte, 2020