The IOSH has called on employers to reap not only the moral rewards of a healthier, safer workforce, but also the financial bonuses it brings. And it believes that Leeds Metropolitan University - one of the largest in the UK with over 30,000 students - is a "prime example" of the positive impact a good wellbeing programme can have on staff and student productivity, health and morale.
John Hamilton, head of safety, health and wellbeing at the University, put in place the pioneering scheme over two years ago to tackle high absence levels and allegations of harassment.
Based around an innovative self-help website for staff and students, which attracted 6,000 hits in its first three months, the scheme now saves £75,000 a year in wages. Stress-related absence is down by 16% and the accident incident rate is now at just 64.7 per 100,000 employees, compared to the sector average of 325.
IOSH Yorkshire branch chair Michelle Muxworthy said: "Any British business that doesn't take good health and safety seriously is missing a trick, whether it is part of the public, private or third sector. Potentially, they are losing out on hundreds of thousands of pounds just because they haven't got the right health and safety strategies in place.
"Leeds Metropolitan University's wellbeing programme is already proving to be a benchmark for other organisations. It has gone through a culture change, cutting lost-time and absenteeism, while making a saving that, for other businesses, could be the difference between survival and failure - crucial in the current economic climate."
Hamilton, together with the health, safety and wellbeing team at the University, began a website, which tackled 75 topics including stress, fitness and coping with money worries or grief. It now covers more than 200 areas of advice, support and guidance.
He said: "The most important thing about the programme is that staff feel that the University cares about them and their wellbeing. It's a great atmosphere to work in, and because of that, motivation and productivity have improved and absence levels are down - proving that a happy workforce is a successful one."
The University's Staff Development Festival in 2009 supported the initiative, with more than 60 events including exercise classes, health checks, stress management techniques and self-help sessions. An occupational health referral scheme was also set up for staff and students, with treatments for a number of health problems.
Hamilton added: "We've had a lot of interest from other public sector organisations, so much so that Wellbeing Excellence is now reaching over 200,000 people across nine organisations including an NHS trust, universities and local authorities.
"What's been really important has been the buy-in from senior management, who embraced it wholeheartedly. They know this initiative is good for our people. Morally, it is the right thing to do, but it also makes complete business sense."
In its new campaign Life Savings, launched last week, IOSH is aiming to show good, proportionate health and safety is being used by forward-thinking CEOs and managing directors as a driver for growth. It is also calling on the Government to showcase good practice to demonstrate how managing health and safety can dramatically cut costs.
