VQ | Value Quotient’s Post

💡 WELLBYs! 💡 Julian King posted his thoughts today on the use of subjective wellbeing measures in cost-benefit analysis (CBA) and you should all go and read it.   I have an interesting relationship with CBA. Used well, it provides a structured approach to isolating the net impact of an initiative and comparing options, and adds a lot of value to both decision making and evaluation. Used poorly it produces misleading insights, places too much focus on impacts that are easy to understand and measure, and dilutes the learnings from the analysis by combining measures into one numerical output.   I have been following the progression of the broader wellbeing, happiness and quality of life studies over recent years and have had a particular interest in WELLBYs. A WELLBY is a "wellbeing life year" or the subjective wellbeing experienced by a person over a year. As outlined by Julian, it offers a conceptually valid and consistent way of valuing the impacts of intangible factors on overall life satisfaction, which can then be included in a CBA.   I've thrown some thoughts together below about where I think the use of WELLBYs are good, and where there are some challenges.   Where it is good: ✔ I think where individual wellbeing outcomes are the whole objective of an initiative that is being evaluated, the WELLBY is really useful. This is particularly the case in ex-post analysis where the evaluative approach has been designed from the outset to use this structure. ✔ I do think it better lends itself to cost-effectiveness analysis than CBA (which is probably the same for the similar constructs - QALYs and DALYs). ✔ I think it is better than utilising a new methodology every time when valuing intangible / social impacts.   Where I see some challenges: ✖ Inconsistency across CBAs and evaluations - the fundamental unit of measure is different from the broader concept of welfare / utility that is deployed in most CBAs.  ✖ I am also yet to be completely convinced that in their current form, the acute subjective wellbeing measures at the individual level are sufficiently correlated with the concept of overall societal wellbeing (or my more favoured concept for individual outcomes - "a life well-lived"). ✖ It is a little bit blunt, wrapping a lot of messy nuance into one measure of individual wellbeing limits the learnings and insight from the analysis (although this is where Julian would rightly suggest a mixed-methods approach to evaluation).   Fundamentally, if we are comfortable with DALYs and QALYs and the monetisation of quality of life changes from health or disability status, then I think we have to be comfortable with a broader concept of wellbeing life years. I'm just not yet convinced that subjective wellbeing is the right fundamental unit of measure for many applications of CBA.   Julian explores this way better than I can - go and read his article! https://lnkd.in/g_yd_xFd

🌙🦅 🌖🌗🌘 What is a Well-being Measure? Today, I came across the term "well-being measure" and did a little research. 💥In psychology, a "well-being measure" evaluates an individual's overall well-being, which includes physical, psychological, and social health. 🥀A well-being measure encompasses various factors such as life satisfaction, happiness level, stress level, social relationships, and overall quality of life. 🥀Well-being measures evaluate the sum of positive and negative experiences in individuals' lives and are typically supported by both subjective (personal reports) and objective (physical health data, social conditions) data. This is the explanation I found. So, let's think about and delve into this, friends. Your thoughts and evaluations are valuable. The saying "Two heads are better than one" holds great wisdom. 💥Here's the question ❓ 🥀 How should we understand the concept of "public well-being"❓ 🥀 How can we measure a government's commitment to the well-being of its people❓ Imagine a government using "well-being measures" to develop policies that benefit the public. What would this mean❓ From tax reforms to national education, from healthcare services to social security, from labor peace to transportation, from prosperity to freedom—policies are developed with the well-being of the public as a priority. 🌘Tax reforms are shaped using well-being measures to improve the quality of life for the public. 🌘In national education, curricula are created with the well-being of children and youth in mind. 🌘Health policies are planned based on the general health status and satisfaction of the public. 🌘Social security reforms are made to enhance the welfare of workers and retirees. 🌘Labor peace is ensured by considering employees' job satisfaction and stress levels. 🌘In transportation, arrangements are made to simplify daily life for the public. 🌘Steps are taken to increase happiness in areas of prosperity and freedom. 💥Can well-being measures be an important tool in understanding the real needs and satisfaction levels of the public❓ 💥Can these measures demonstrate how much a government cares about the well-being of its people❓ 💥Are there governments that conduct well-being measurements❓ 💥If a government develops policies to enhance the well-being of its people using well-being measures, wouldn't this be the greatest indication of that government's dedication to its people❓ 💥In your opinion, in which areas should more effort be made for public well-being❓ I eagerly await your thoughts and suggestions. Let's discuss what we can do together for a more well-being-focused society. #PublicWellBeing #WellBeingMeasures #GovernmentPolicies #QualityOfLife #SocialWelfare #Happiness #SocialJustice

🌟 **Introducing Our Revolutionary Mental Health Welfare Package** 🌟 At Mental Health Welfare, we understand that the success of your organisation is intricately linked to the well-being of your employees. After extensive research and market analysis, we are thrilled to introduce a groundbreaking proactive mental health welfare scheme. Key Advantages of Our Innovative Package: 1. **Increased Focus and Productivity:**   - Employees who prioritise mental health perform better and are more focused on their tasks.   - Improved concentration leads to a significant boost in overall productivity, ensuring tasks are completed efficiently and accurately. 2. **Reduced Accidents and Sick Days:**   - Mental well-being is directly correlated with a lower risk of accidents and injuries.   - Fewer sick days mean a more reliable and consistent workforce, maintaining the smooth flow of operations. 3. **Enhanced Customer Satisfaction:**   - Happy and mentally healthy employees provide better customer service.   - Positive interactions with customers lead to increased satisfaction, loyalty, and repeat business. 4. **Improved Company Image and Reputation:**   - Companies that prioritise mental health foster a positive workplace culture.   - A positive work environment contributes to a better public image, attracting top talent and customers alike. 5. **Increased Profits:**   - The cumulative effect of improved focus, reduced accidents, satisfied customers, and a positive reputation directly impacts the bottom line.   - Investing in mental health is an investment in the long-term success and profitability of your organisation. Why Our Package Stands Out: - **Long-Term Support:**  Our package recognises that mental health is a journey, not a destination. We provide ongoing support to ensure lasting positive change within your organisation. - **Industry Expertise:**  With our team's extensive experience in the Ports, Docks, and Logistics industries, we understand the unique challenges your workforce faces and have tailored our package to address them effectively. - **Cost-Effective:**  We understand the importance of managing costs. Our innovative mental health package costs less than a cup of coffee, making it an affordable investment with invaluable returns. Ready to take the first step towards fostering a mentally healthy and thriving workplace? Visit https://lnkd.in/eB9RK-tr to book your **free discovery call**. Let us help you build a resilient, focused, and empowered workforce that drives sustainable success. Together, let's make mental health a priority in your organisation

Employees are feeling the mental strain, with mental health-related leaves of absence increasing by 300% since 2017. This underscores the need for employers to enhance wellness support. Effective benefits like gym access, mindfulness resources, and childcare assistance can improve morale and productivity. By investing in these programs, employers foster a healthier, more engaged workforce. #MentalHealthMatters #EmployeeWellness #WorkplaceSupport #EngagedEmployees #WellnessPrograms https://lnkd.in/eMusHMbD

With Mental Health Awareness Week occuring last month, more awareness has been drawn to employee well-being and mental health. However, we're still a long way from ensuring full workplace wellness. Data from the Department for Work and Pensions show that because of poor mental health, more than 20,000 people are absent from work every month: https://bit.ly/3WQBKV0 But, there are strategies employers can use to enhance workplace mental health. For instance: - Businesses can revise their internal procedures to better assist their employees. - Employers should foster a caring strategy for dealing with mental health issues. This can be facilitated through providing training for better mental health management. - Employers can offer counselling, stress management classes, and collaborations with mental health experts. #MentalHealth #MentalHealthAwareness #MentalHealthInTheWorkplaceo

𝗧𝗵𝗲 𝗶𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝗮 𝗽𝗼𝗼𝗿 𝘄𝗼𝗿𝗸-𝗹𝗶𝗳𝗲 𝗯𝗮𝗹𝗮𝗻𝗰𝗲 𝗼𝗻 𝗼𝘂𝗿 𝗵𝗲𝗮𝗹𝘁𝗵. I started a conversation yesterday about 𝘄𝗼𝗿𝗸-𝗹𝗶𝗳𝗲 𝗯𝗮𝗹𝗮𝗻𝗰𝗲. Here's a 2020 study from BMC Public Health shedding light on the impact of poor work-life balance among European working adults. 𝙏𝙝𝙚 𝙡𝙞𝙣𝙠 𝙩𝙤 𝙥𝙤𝙤𝙧𝙚𝙧 𝙜𝙚𝙣𝙚𝙧𝙖𝙡 𝙝𝙚𝙖𝙡𝙩𝙝 𝙞𝙨 𝙖𝙡𝙖𝙧𝙢𝙞𝙣𝙜. Among the issues mentioned are: 🔵 Poor Physical Health: 🔵 Psychological Distress 🔵 Poor Mental Health. 🔵 Life Dissatisfaction This Research by Universität Bielefeld & Leibniz Institute found those struggling with balance were twice as likely to report poor health, with gender differences and regional variations. Social expectations may contribute to these disparities. The findings call for the need for supportive workplace policies and social initiatives to safeguard health amidst competing demands. ______________ ❓ _____________ 𝙒𝙝𝙖𝙩'𝙨 𝙮𝙤𝙪𝙧 𝙚𝙭𝙥𝙚𝙧𝙞𝙚𝙣𝙘𝙚 𝙬𝙞𝙩𝙝 𝙥𝙤𝙤𝙧 𝙬𝙤𝙧𝙠-𝙡𝙞𝙛𝙚 𝙗𝙖𝙡𝙖𝙣𝙘𝙚❓ 𝗛𝗲𝗿𝗲 𝗶𝘀 𝘁𝗵𝗲 𝗮𝗿𝘁𝗶𝗰𝗹𝗲: https://lnkd.in/et4i_Xmi ~~~~~~~~~~𝓒𝓱𝓪𝓵𝓵𝓮𝓷𝓰𝓮 𝓓𝓪𝔂 3️⃣ 1️⃣ ~~~~~~~~~~~ #HealthcareProfessional #WorkLifeBalance #HealthEquity #Life

Today is #WorldMentalHealthDay! This year's theme is "workplace mental health", so I wanted to share how Christians Against Poverty has gone above and beyond to support me in my mental (and physical) health over the last six-and-a-bit years: - Flexi time and flexible working - Hybrid working (with reasonable adjustments to work from home since getting ME/CFS) - Two mental health days per year (just call in and say you're taking the day, no questions asked) and generous holiday allowance, emergency days, and a kind approach to compassionate leave - Employee Assistance Programme, Mental Health First Aiders and a bunch of other wellbeing benefits (such as pension plan, free eye test vouchers, gym discounts and other things that help you keep on top of wellness, as well as a pot of money that can be used to help staff in a moment of need - such as paying for counselling sessions) - Sick pay and an approach to being off that doesn't make you feel like you're being judged (!) or that your job is on the line. With sick pay meaning I'm not counting every single second I've needed to take off and worrying about money. When I've been off I've therefore been able to switch off, plus being able to do a staggered return over a series of weeks or months has been incredibly helpful. But more than the policies and procedures, I've found the things that have been most helpful have been: - Honesty and transparency so we can all be on the same page, knowing what the expectations are and working towards them as one team - Humans that treat me as a person first, recognising that my health is more important than my skills - Colleagues, managers and HR who have made themselves available to chat, allowed me to take the time I need, visited me and still included me in things when I've been off sick, and opened their calendars, DMs and even their homes to me. - Colleagues who are friends. I adore my team and know we've got each other's backs, we'll fight for each other and even in the stressful times, that has always made me feel supported and much more steady. When people care, that speaks volumes emotionally. The deep compassion and care of every line manager, HR, and colleague who has known anything about my health issues over the years is why I'm still standing, and why I'm still able to give my 100% every day even when other factors try and hold me back. It's not just work, either - it's greatly impacted my life and personal wellbeing. And that's why workplace mental health is so important. #MentalHealth #Accessibility #WorkplaceHealth #ChronicIllness #Disability #Neurodivergent

💥💥The cracks are starting to show 💥💥 The impact of financial stress on New Zealanders, especially working individuals, is significant and multifaceted, affecting both personal wellbeing and workplace dynamics. Research indicates that a large proportion of New Zealanders are concerned about money, with specific demographics like women and young adults feeling the brunt more acutely. Approximately 69% of New Zealanders are worried about their financial situation, with this concern rising to 74% among women and 82% among those aged 18-34. The effects of these financial worries are broad, including stress, missing out on social activities, not accessing health services, and making unhealthy eating choices, among others. It's also noted that financial stress leads to increased absenteeism from work among younger age groups. https://lnkd.in/gJDgx2T4 In the workplace context, financial stress translates into tangible outcomes affecting performance, productivity, and culture. Stress at work is reported by 1 in 5 New Zealand workers, indicating a prevalent issue with significant implications for workplace efficiency and morale. The increasing stress levels, partly attributed to financial concerns, have led to a loss of millions of working days and a substantial economic cost due to work absence. Moreover, high workloads associated with financial stress have been linked to higher levels of psychological distress among employees, further affecting their intention to find another job. https://lnkd.in/gmCaymJ5 These findings underscore the importance of addressing financial stress not only from a personal wellbeing standpoint but also for enhancing workplace productivity and culture. The interconnectedness of financial and mental wellbeing suggests that interventions aimed at improving financial literacy and resilience could have broad-reaching benefits, including improved workplace dynamics and reduced absenteeism.

In our swift and frequently tense world, looking after our psychological welfare is vital. Various research implies that there are five plain but influential measures we can include into our lives to enhance our psychological health and general feeling of welfare. By introducing these techniques, we can nurture positivity, emotional strength, and lead gratifying lives. 1. Connect with Other People: Strong and encouraging relationships perform a crucial function in our psychological welfare. Nurturing significant bonds with others can grant us a feeling of inclusion, enhance our self-esteem, and present an occasion to exchange pleasant experiences. Furthermore, the sentimental assistance we obtain from others aids us in maneuvering through the trials of life, while also permitting us to be a fountain of encouragement for those nearby. 2. Be Physically Active: Physical exercise not only improves our physical health but also has a noteworthy effect on our mental welfare. Participating in consistent workout can boost our confidence, inspire a feeling of achievement when attaining fitness targets, and induce chemical alterations in the brain that favorably affect our emotional state. Integrating physical activity into our daily schedule can contribute to a more balanced and optimistic perspective on life. 3. Learn New Skills: Acquiring fresh abilities has been verified to augment self-confidence, elevate self-esteem, and offer a sense of purpose. Whether it's embracing a new pastime, enrolling in a class, or investigating a subject of curiosity, learning enables us to expand personally and intellectually. Furthermore, it furnishes a pathway for connecting with similar individuals, cultivating a sense of camaraderie and backing. 4. Give to Others: Acts of offering and goodness not only advantage the beneficiaries but also have a deep effect on our own emotional welfare. Participating in selfless actions generates positive emotions and a feeling of gratification, while also fostering a sense of meaning and value. Whether it's executing minor gestures of kindness or devoting time to participate as a volunteer in the society, the act of providing fosters a sense of satisfaction and enhances our bonds with others. 5. Mindfulness: Engaging in mindfulness requires being completely in the moment and conscious of our thoughts, emotions, physical sensations, and the environment surrounding us. Through adopting mindfulness, we can discover how to appreciate the pleasures of life, acquire a greater comprehension of who we are, and confront obstacles with a clearer and more optimistic attitude. This increased consciousness enables us to release unnecessary tension and pessimism, fostering a calmer and more satisfied state of mind. #FreedomfromAnxiousThoughts

As employers, we’re in a unique position to support the wellbeing of parents and caregivers in the workplace. The recent Surgeon General's report on parental stress highlights some of the common stressors that can impact mental health, such as sleep deprivation, time scarcity, and the challenges of managing a child’s behavior at different developmental stages. These stressors are all too familiar for working parents, and they can significantly affect their overall wellbeing. So, how can we proactively support our employees who are navigating the demands of caregiving? Here are a few action items from the report that we, as leaders, should be thinking about: 🛠️ Expand policies and programs:  Offering paid parental, medical, and sick leave, along with flexible and fair work schedules, is essential. Access to childcare, whether on-site or in the community, is another crucial component that can help alleviate some of the stress working parents face. 🧠 Train managers on work-life harmony:  It's vital to equip managers with the tools to recognize signs of stress and mental health challenges among parents and caregivers. Training managers to support work-life harmony and exemplify a family-friendly culture helps create an environment where parenting and career advancement can coexist. 💡 Provide access to mental health care:  Mental health support is key. Employers can offer comprehensive and affordable mental health care through robust health insurance plans, and Employee Assistance Programs (EAPs). Digital health solutions like LifeSpeak Inc. provide on-demand resources and expert guidance to help employees address challenges before they escalate into a crisis. These proactive solutions can make a significant impact on both mental wellbeing and workplace productivity. In addition to mental health support, caregiving solutions like Torchlight Parenting and Caregiving can give employees personalized advising and concierge services to help caregivers navigate unique challenges with expert insight. Instead of relying on the uncertainty of internet searches or guesswork, caregivers can access tailored advice to make informed decisions and feel more supported in their roles. The Surgeon General’s report is an important reminder that we need to be intentional about how we support our employees, especially those balancing the demands of caregiving. I encourage you to give it a read and think about how we can make meaningful changes in our workplaces to better support the wellbeing of our teams. Let’s take action to ensure that our caregivers feel supported, valued, and less stressed. Read the full report here: https://lnkd.in/gxTv-3Xs  #Caregiving #MentalHealth #EmployeeWellbeing #WorkLifeBalance #LifeSpeakInc