When conversations about employee wellbeing arise, they’re often directed towards HR teams. It’s assumed that wellbeing sits within their remit, alongside policies, perks and engagement surveys. But the reality is, the state of your workforce’s wellbeing affects far more than internal morale — it influences business continuity, talent retention, customer experience and, ultimately, financial performance.
That’s why the most forward-thinking organisations are moving away from a siloed approach and placing wellbeing where it truly belongs: on the strategic agenda. For CFOs, this represents both a responsibility and an opportunity — not just to support employee wellbeing, but to lead it.
There’s no doubt that taking care of your people is the right thing to do, but it’s also a smart business move.
The costs of poor wellbeing are often underestimated because they’re spread out, appearing in higher rates of absenteeism, burnout, disengagement and turnover. And while these may not always appear as a single line item in a budget, they quietly erode productivity and profit over time.
According to Deloitte, poor mental health costs UK employers £51 billion per year.
By contrast, businesses that proactively invest in wellbeing see clear benefits. These aren’t just “soft” gains, they’re tangible improvements in retention to performance and everything in between.
As the steward of financial performance, the CFO is uniquely positioned to weigh these costs and returns — and to shift the narrative from wellbeing as a cost centre to wellbeing as a value driver.
Wellbeing impacts how people show up at work — not just physically, but cognitively and emotionally. And that matters for decision-making, creativity, collaboration, and resilience in the face of change.
In today’s workplace, where businesses are navigating the likes of economic uncertainty and skills shortages, wellbeing plays a direct role in organisational agility. Healthy, supported teams adapt more easily, recover from setbacks faster, and are more likely to stay with the business in the long term.
But let’s also keep in mind that workplace wellbeing is more than just wellness programmes — it’s about designing systems and structures that help people perform at their best sustainably.
Wellbeing becomes a strategic asset when it’s embedded in the way the business operates: through workload planning, leadership behaviour, resource allocation, and a culture that values rest, flexibility and psychological safety.
You might think of wellbeing as a people issue — but the success or failure of wellbeing initiatives often comes down to investment, accountability, and alignment with business goals. That’s where the CFO comes in.
Finance leaders may hold the purse strings, but more than that, they influence how success is defined and measured. When CFOs support wellbeing at a strategic level, it sends a clear message: this isn’t a side initiative, it’s core to how we operate and grow.
That leadership is essential because:
And, critically, it helps dismantle the idea that wellbeing is just “nice to have”. In reality, it’s essential for sustaining high performance in any competitive market.
The most effective wellbeing strategies are not standalone projects — they are cross-functional, informed by data, and built into the way teams operate day to day.
Key considerations include:
Critically, any wellbeing strategy should be evidence-led. That means understanding where your current pain points are (for example, high attrition in specific departments, rising sick leave, or low engagement scores), and targeting investment where it will make the greatest difference.
In some organisations, wellbeing is treated as a tick-box exercise: a webinar here, an Employee Assistance Programme there. But surface-level actions don’t address the deeper organisational factors that cause stress, fatigue and disengagement.
Doing nothing — or doing the bare minimum — carries significant risk:
The financial impact is real. And unlike some business risks, this one is entirely within your control.
The businesses that are thriving in today’s landscape are those that understand the connection between people and performance. They know that profitability doesn’t come at the expense of wellbeing — in fact, it depends on it.
For CFOs, this means going beyond approving budgets to helping shape how wellbeing is integrated into strategy and operations. It’s about asking better questions:
Wellbeing isn’t just a human issue or a cultural issue — it’s a business issue. And when CFOs champion it, the results speak for themselves.
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