Small to medium-sized businesses and local partnerships which have an employee count of one to 249 will be eligible for availing financial help ranging from £1,000 to £50,000 a year from the government.
This monetary support will be given to employers from the Health Work and Well-being Challenge Fund, if they formulate new projects intended to reduce workplace stress, improve work and life balance and further the health and happiness of the workers. The total value of the fund is £4 million and it will be available for the next two years.
The grant to selected projects will be disbursed in two instalments after they have been nominated by the Local Assessment Panel on the basis on their potential to fulfil the objectives of the fund.
The fund has been introduced by Lord McKenzie, Minister, Department for Work and Pensions (DWP), after it was announced in the government publication ‘improving Health and Work: Changing Lives’, released on November 25, 2008. The publication had come as a response to Dame Carol Black’s study of the health of the working population in the UK.
According to Lord McKenzie, the idea behind the fund is to provide economic backing to new and groundbreaking projects related to improving the health and happiness of the workers. He added that the fund would not only help to improve the conditions at the workplace but also lessen the number of workers taking sick leaves from work.