The health and wellbeing of employees is given little attention by senior accountants and finance directors.
Research by the Institute of Chartered Accountants in Scotland has revealed that the issue, estimated to cost UK employers £14bn a year, is often overlooked by the profession.
The report, Recognising Workforce Health as a Key Organisational Asset: A Study of Thinking and Practice looks at AstraZeneca, South Lanarkshire Council and South West Water as its case studies, and delves into how workforce health can be valued in organisations.
Poor health is estimated to cost the British economy £100bn a year through lost productivity, tax revenues and spending, and an increase in health and social care costs.
ICAS concludes that while the costs can be measured, the value of maintaining a healthy workforce is more difficult to account for and quantify. More than two-thirds of HR directors surveyed believe that its possible to identify some form of financial value for this, while finance directors are more sceptical.
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