Business for Wellbeing

Business for Wellbeing

Missed this event? Catch up with the recording, here:

Welsh Businesses for the Wellbeing Economy – Can the wellbeing of people and planet be a measure of business and economic success?

This discussion featured a fantastic panel of speakers on the role of businesses in building the wellbeing economy, asking whether “the wellbeing of population and planet” can be a measure of economic and business success.

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  • Eoin Bailey, Celsa UK
  • Paris Collingbourne, Loud Llama PR
  • Dawn Lyle, iCreate / 4theRegion
  • James Lewis, Alacrity Foundation
  • Gareth Jones, Town Square
  • Phillip Sykes, Aneurin Leisure Trust

A thought provoking discussion addressed our central question from a number of different angles. We explored whether the profit motive is still valid in a Wellbeing Economy, and whether taking steps to address “staff wellbeing” are enough to qualify you as a “wellbeing economy business”. We also reflected on the types of things that organisations can do to decarbonise their operations, and on what “circularity” has to do with wellbeing economics.

Watch the recording

Wellbeing Economy Wales is keen to hear from businesses that are working differently and changing the narrative about the role of businesses in wider society. We convene a “business” discussion every six months or so, and welcome businesses to be part of our movement. Reach out to us, cymru@weall.org, to get involved!

Background

If we want to move away from financial indicators as the sole measure of how well we are doing, what might we measure instead / as well? How are businesses helping to build a wellbeing economy in Wales – and what does that even mean?

A Wellbeing Economy is one where the government uses well-being metrics for monitoring, for prioritizing, or for policy making. Where wellbeing indicators are starting to replace growth, productivity and GDP as measures of success.

A country is considered a Wellbeing Economy only if it actively uses well-being measures for informing government priorities and actively guiding government policymaking towards the most well-being impact.

So it therefore follows that a Wellbeing Business is one that has embraced a similar shift in emphasis, redefining what it is in business to do, and changing how it measures success.

There is much we can learn from businesses that are thinking and acting differently. What does “business for wellbeing” look like in practice, and could the idea go mainstream here in Wales?