Since we launched Juno, we've spoken with hundreds of HR managers and Heads of People who struggle to find the right support for their teams.
We understand how difficult it can be to advocate for your team's wellbeing budget, especially when financial times are particularly tough. This is why we created this guide to help you get the message across.
We’re going to run through a strategic plan that you can use to advocate for an employee wellbeing budget and give you all of the resources you need to show your manager or finance team just how impactful employee benefits are.
7-Step Plan To Get Your Wellbeing Budget Approved
Whilst you can use this plan at any time to try and lobby for a wellbeing budget, one of the most important things to think about when planning to get it approved by your finance team is think about timing.
Many companies will review and alter budgets several times a year, but many will also simply plan and create budgets every fiscal year, a few months ahead. So, if you know when your company plans and creates budgets, try to lobby for your wellbeing programme before the budget is finalised as it’s more likely to be properly reviewed and accepted.
Whilst your finance team might be flexible and willing to alter the budget to include a wellbeing allowance throughout the year, be aware of this fact when going forward with your proposal: after all, you want to make it as easy as possible for those involved to push this through!
So, with this in mind, let’s move forward and take a look at this 7-step plan to get your wellbeing budget approved.
1. Be Clear About Your Goals and Objectives
You’re unlikely to get the outcome you want if you’re not properly prepared with goals and objectives.
What is your objective? To educate and persuade your finance team or manager that employee wellbeing is important and a budget should be allocated for that.
What is your goal? To secure a wellbeing budget of X amount for X amount of your employees.
Your finance team or manager are also going to be much more receptive to hearing your proposal if you have facts and figures, so gather research and determine the budget you need for employee wellbeing.
You can use statistics like these to support your proposal:
- 58% of respondents in our Workplace Culture Study said that a better work-life balance or workplace culture at the rival company, improved access to benefits, and wellness tools were the factors behind why a prospective employee chose an alternative role.
- Wellness programs can reduce absenteeism by 14-19%.
Download our Employee Happiness Study now and gather real-life data to support your proposal.
2. Create A List of Improvements Your Company Will Experience When Employee Wellbeing Benefits Are Funded
From improved employee happiness to greater productivity, there are a vast number of benefits that stem directly from providing employee benefits and promoting employee wellbeing. However, your finance team or manager may not be aware of them.
Therefore, use the resources we’ve provided in this guide, share this information with them and help them realise just how impactful employee benefits really are and how they can actually improve company growth and performance: it’s an investment that pays off.
You can use statistics like these to show your finance team just how necessary employee wellbeing benefits are for both the team and the company as a whole.
- The average return on investment (ROI) for employee wellness programs is six-to-one.
- Happier people perform up to 20% more productively at work.
- 80% of employees would choose additional benefits over a pay raise.
- Employee benefits improve retention and reduces turnover cost and can save the average UK based company £30,000 per year.
3. Ask For Employee Feedback and Get Them Onboard
Having your team’s support behind you when you’re proposing an employee wellbeing budget can definitely heighten the likelihood of you getting that budget approved since it shows that employees are already engaged with the idea.
So, speak with your team, tell them about the ideas that you have for an employee wellbeing programme, and ask them what they would love to see from it too - including your team in the process doesn’t just make it easier for you to show finance the support your idea has, but it may also lead to new ideas and overall employee wellbeing feedback.
Feel free to use this template to give you some ideas on what questions to ask your team.
4. Prepare For Pushback
Don’t be discouraged if your finance team or manager pushes back when you present your wellbeing proposal. In fact, expect it! If you expect to experience confronting questions you can prepare for them.
For example, they might say, “how would this improve the company’s growth?”, or “where are we going to find this extra budget?”.
Here’s a list of questions HR managers get frequently asked. You can prepare your answers to them and make sure you have the relevant research and resources you need to support them.
5. Book A Demo With Juno and Invite Finance and Key Stakeholders
One of the best ways to show the key stakeholders in this decision-making process the importance of wellbeing benefits is to invite them to join you on a demo of Juno. This way, they can be apart of the process, understand how Juno works and the impact that it has, and ask any questions they have directly to the Juno team.
Find a time that works for the key stakeholders in this decision to have a demo with one of our Employee Wellbeing Experts and book it in. Involving them in the entire process might be more helpful than you realise.
6. Plan And Execute A Test Run For The Benefits Using Juno
As well as booking a demo with your finance team and key stakeholders, you can show them around the Juno Platform, and trial it with your team to see how they react to the benefits they could have implemented if your budget is approved by signing up to Juno for free.
You can use this as a “test run” for implementing an employee wellbeing programme using Juno and then use the great feedback you get from your team members to push your wellbeing budget through, showing how impactful it can be.
Use this link to sign up to Juno for free and invite the team members you'd like to trial Juno with. We recommend starting with max 3 team members.
7. Share Relevant Resources
Sharing relevant resources that are packed with useful information on why employee wellbeing benefits are so important is a vital part of getting your budget approved by your finance team or manager. Using these resources and this guide below, you can truly show them how much of a necessity wellbeing benefits are for your team and the company as a whole.
Resources you can share with your finance team and key stakeholders to support your proposal:
Guides and Resources:
Free Template For Employee Wellbeing Programme Feedback
Workplace Morale Study
Staff Wellbeing Ideas
Innovative Strategies To Improve Employee Performance
What Employees Really Want From Their Workplaces
Articles:
Employee Recognition: Ways To Show Employees Gratitude
Employee Wellbeing And Company Culture Are Key To Winning The War For Talent
Reasons Your Team Aren't Engaged With Your Wellbeing Programme and How To Fix It
Ready To Lobby For Your Wellbeing Budget?
Prepped with the steps in this article and all of the resources we’ve provided, you’re ready to lobby for your team’s wellbeing budget!
You’ve got this and we look forward to seeing you all in a demo soon!
