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Working with well-being programmes Fred Payne Chief Executive The Bank Workers Charity 1 st November 2012 Slide 2 My message to you Many well-being programmes aim to address work-life balance issues - I am not making the case for workplace wellness programmes I am making the case for the role of occupational benevolent funds working with wellness programmes Occupational benevolent funds can support line managers by providing access to non-work related support alongside of Employee Assistance Programmes and other occupational support Page 2 Slide 3 What are occupational benevolent funds? Over 3,000 charities provide support through services and grants in the UK many linked to occupations Insurance, Accountants, Lawyers, Engineers, Teachers, Civil Servants, Armed Forces, etc. Total financial assets exceed 2.5 billion Spending about 500 million each year on grants and services Accessed through intermediaries such as Citizens Advice, social workers and caring charities Work alongside UK benefits agencies 19 billion in benefits unclaimed each year Fastest growing intermediary is turn2us with over 3 million visitors each year. Providing on line access to benefits with average uplift in benefits income of 3,000 per head Page 3 Slide 4 Bank Workers Charity Founded in 1883 as an orphanage, 1984 began work with older people, 2006 began work with employees, disability and families Only Occupational Benevolent Fund for all people connected to banking in the UK with financial hardship and sickness issues Support employees, retirees and their dependants 44 million in reserves. Spend 3 million each year 7,500 service interventions annually targeting 16,000 in 3 years Access to information, advice and guidance - online and phone with specialist support from well-known, trusted brands. Page 4 Slide 5 Bank of England We work with banks in a marketplace of 1.8 million people 370,000 staff - down from 420,000 in 2008 - of whom 75% work for the big five banks and over 80,000 in London 300,000 pensioners / 180,000 disabled leavers / 400,000 others 200,000 dependant children / 350,000 dependant adults Page 5 Slide 6 Our vision is to become a leading charity providing high impact solutions that genuinely meet the needs of the banking community. We aim to significantly increase the number of interventions we make over the next three years through expert information, advice, services and grants. Our ambition is to see a lasting transformation in the lives of the people we help. By end 2014 we target to make 17,000 interventions per annum. Our vision Page 6 Slide 7 My wellbeing Because life is for living Well help you get the best out of it My money When too little becomes too much We can help you regain financial control My Home When you cant shut the door on your home worries Open our window for help Clear, practical information, advice, services and financial support to help you and your family with the changes and challenges in your lives. We are moving from traditional grants to become a wellbeing specialist. Our areas of focus Page 7 Slide 8 Financial pressures reported by StepChange Debt Action Charity and others Average unsecured debt of SC clients 20,000 Single parents make up 12% of SC clients Women are twice as likely than men to be in debt after family break up Millions need advice on debt One third hide their problems and men are more likely to hide financial difficulties 25% of SC clients owe 20 times more than they take home each month Unemployment is the key cause of debt, particularly amongst under 25s For families struggling with multiple risk factors such as no paid work, disability, young parenthood, overcrowded housing and financial stress there is a greater threat to childrens development. There is also a significant cost to society. Home and family responsibilities are in the top five most common causes of absence amongst SC clients 33% of the workforce are parents with dependant children 39% of the workforce are worried about making ends meet Page 8 Slide 9 38% of BWC activity for new clients 12% of new BWC clients currently in work 8% of workforce have unpaid caring responsibilities 1 in 6 adults live with fluctuating health conditions and / or disabilities Most common condition presented to BWC is mental health related Followed by musculoskeletal and mobility issues Then heart, lung, diabetes etc. 78% of disabled people acquired their impairment after age 16 2% of the working population acquire a disability each year A few statistics 320 people declared bankrupt every day Repossessions of mortgaged properties at highest level since 1990s at 750 per week Page 9 Slide 10 Financial competence One2One mentoring for disabled employees and carers Support for families affected by autism Support for carers and people affected by arthritis Money maximisation and benefits Debt support Family relationship support Maternity leave returners Domestic Violence Child bullying Service content and delivery Page 10 We offer a range of tailored advice and support delivered by experienced in-house client advisors. We operate on line, by phone or through experienced partners. We also provide access to financial support. Slide 11 Research to inform new product development and support employer engagement Identify the work and non-work issues facing UK Banking and Finance sector workers. Examine how effectively the spill-overs between work and non- work pressures are managed Quantify the impact on work productivity, morale, family life, quality of relationships, childcare management, health and wellbeing, psychological resilience and financial stability Identify the level and type of support needed to manage work/non- work boundary issues Develop scenarios to equip workers to be more resilient to change and growing complexity of work and family roles. Page 11 Slide 12 Pressures on employers Employer issues Political change Economic performance Social changes Technology Competition Change management Organisational performance and employee engagement 1.2 million people were suffering from illness caused or made worse by work 40% of organisations report that stress related absence has increased over the last year Average number of sick days for finance sector staff is 5.2 at an estimated cost of 300 million across the banking sector Stress, depression or anxiety account for 40% of sickness absence Absenteeism is falling but Presenteeism is rising Page 12 Slide 13 Work and non-work boundary issues Employer issues Cost of managing absence/presence Decreased productivity Staff turnover Decreased profit Employee issues Increased workloads Financial pressures Caring pressures Relationship pressures Health issues Life events Risks and concerns Stress Absenteeism Presenteeism Reduced performance Poor decision making Disengagement Page 13 Slide 14 Possible role for BWC Increasing levels of debt and financial hardship Decreasing levels of state funded support Increasing family pressures arising from life challenges Support home life and family related issues relating to wellbeing, money and home Integrate with Employee Assistance Programmes to provide complementary support Improved employee wellbeing Improved Engagement / productivity Page 14 Slide 15 Activities and behaviours outside the workplace can have a significant impact on how well employees function at work. Our support service is aimed at supporting employees to improve their wellbeing: 1.We can help employees tackle the work/non-work challenges they are facing 2.We can complement and fill the gaps that Employee Assistance and Well-being Programmes do not cover 3.We can often offer wider and deeper support than reactive counselling services. We work with partners who have demonstrable capability in service delivery on a national scale. We fund partners to increase their delivery capacity, which enables them to make their services available to our clients quicker and more comprehensively than if a client went directly to the charity for support. This also enables our charity partners to use the resources we free up to help others in society. A service sitting alongside Employee Assistance Programmes. Simple to access and provides specialist support through well known, trusted high street brand names. Our proposition - supporting bank employees Page 15 Slide 16 How we can complement the support that banks offer to their employees Banks provide: Employee Assistance Programme Private Medical Employee support networks We provide: A free, independent and confidential service for employees A holistic approach to problem solving Advice & Guidance telephone service Full needs assessment of each client Online and printed guides Online budgeting, benefits and grants tools Access to specialist support services Page 16 Slide 17 Cost of employee absenteeism / presenteeism estimated at 300 million for banks of which 40% could be attributable to stress, mental health and depression problems If we can help 1 in 20 people to deal with their related challenges and become fully engaged, we could help to unlock 6 million of lost value to banks This proposition is easily transferable to other professional and industry sectors where occupational benevolent funds are active. There is the potential to gear up capacity for the good of employers, employees and society as a whole. Business Case for consideration Page 17 Slide 18 Next steps Develop strategic options from the Robertson Cooper / Work Foundation research Discuss the feasibility of the business case with interested employers Discuss potential collaboration with like minded occupational benevolent funds Work with mental health charities to develop new service content and work place initiatives Develop social investment propositions based on payment by results to scale up service delivery on a national pan-industry basis Page 18 Slide 19 The journey starts here Contact fred.payne@bwcharity.org.uk Tel 0207 216 8981 Page 19