Well at Work Project: cost-benefit analysis

Dr Mark Kilsby, Dr Stephen Beyer and Julie Allan conducted a financial cost:benefit analysis (CBA) at the taxpayer level to identify the financial outcomes associated with the Well@Work Project aimed at supporting employees with mental health and/or musculoskeletal conditions who are at-risk of losing their employment due to ill health, to retain their jobs. Results showed a benefit:cost ratio of 1.80 (a saving of £1.80p for every £1 invested in the service) and an average net benefit to taxpayers of £3,555 per beneficiary per year, as a result of helping these individuals retain employment. The net gains to the taxpayer of the beneficiaries staying in work, benefitted the taxpayer on average £14,676 per beneficiary per annum. The magnitude of savings demonstrated the project to be a very cost-effective initiative.