Adopting a Wellbeing Business Model

COVID-19 and climate change are forcing businesses to reassess models and working patterns. But how should businesses change and is a focus on sustainable development or stakeholder capitalism enough?

Yes we should be able to sustain our development and yes we should consider all stakeholders in our business decisions but where is the vision in all of this? What are these concepts really driving us towards?

I put it to you that something we call all aspire to is greater wellbeing. A world where we can all thrive. In this respect I’m defining wellbeing as ‘the quality of our lives in balance with other people, species and the planet’.

Hopefully it is clear that if your organisation focuses on wellbeing there will be greater engagement, people will be more ready to change and this will help build your business. To examine this in a little more detail here are eight more reasons why you should consider a wellbeing model for your organisation right now.

1. There are rising levels of consciousness about what is important in life

People are increasingly realising that personal, collective and planetary wellbeing should be prioritised over an unbalanced focus on wealth and growth. There’s no economy without society and there’s no society without the environment.

The IPCC tells us we must transform our lives to maintain temperature below 1.5 degrees. Neuroplasticity tells us that we can change, and when this is combined with exponential developments in our knowldege and technology it is clear that we have the ability. We just need to do it.

2. The increasing pace of change

Our volatile, uncertain, complex & ambiguous world requires us to be more resilient, flexible, creative and emotionally balanced. These are all core components of wellbeing.

The rise of AI & Automation mean jobs will increasingly require a greater emphasis on human qualities. A focus on wellbeing helps us develop empathy, creativity, compassion, kindness and caring. These are all traits that will be in higher demand.

3. The increase in ‘Lifestyle Diseases’

Stress, anxiety, depression, diabetes and heart disease are becoming global issues, resulting from lifestyles which develop ‘illbeing’. We need to change this as it puts an unnecessary burden on our health services. Sitting is the new smoking in many workplaces. These sedentary roles, and workplaces that overwhelm employees with workloads that cause burnout must be left behind.

4. Hunger & obesity

Today there are more obese people in the world than there are those who go hungry. Whilst not all organisations will have a direct line of sight to this they are responsible for the health and safety of employees. As such all organisations, where possible, can support wellbeing through the provision of facilities and catering that delivers nutritious, healthy food for all.

5. Fairness

The growing gap in wealth & wellbeing between countries and within countries is leading to less ‘trusting’ societies and many people do not believe the system is working for them. This can only lead to increasing conflicts and tension when what we really need is greater harmony and understanding.

Within countries and our organisations the increases in CEO pay, relative to the average worker, is just one example that is causing ever more vocal criticism. We know from research that organisations with wider gaps in pay, benefits and overall wellbeing perform less well that their fairer counterparts.

6. Bio-diversity loss

Less bio-diversity means a threat to our eco-systems. Organisations must take responsibility for the outcomes of their actions on the wellbeing of the planet and all species.

7. Population growth

Even though it is estimated that population growth is due to plateau later this century, our reality for the next few decades, is that we will need to do more with less. Wellbeing is not about having more and more. Wellbeing is about having more of the ‘good stuff’ and less of the ‘bad stuff’. We can live good lives without it having to cost the earth.

8. Finite resources

We are already exceeding planetary boundaries in many areas. We will need to re-purpose our economy to focus on wellbeing. A wellbeing economy helps us meet the needs of society within planetary boundaries.

A wellbeing focused organisation

So what might an organisation that adopts a wellbeing business model look like?

I hope this has piqued your interest and if you’d like to discuss how your business could move to a wellbeing model please get in touch.

For further reasons and justifications on why all organisations should be moving towards a wellbeing business model read The Age of Wellbeing – A new leadership model for a happier world.

Improveon offers wellbeing consulting, coaching and speaking to help individuals, teams and organisations thrive.