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714 Introducing the concept of well-being capital in enhancing the productivity and occupational safety
  1. Liisa Hakala1,
  2. Marja-Liisa Manka2,
  3. Riitta-Liisa Larjovuori2,
  4. Kirsi Heikkilä-Tammi2
  1. 1Ministry of Social Affairs and Health, Finland
  2. 2University of Tampere, Finland

Abstract

Background Because the working age population in Finland is decreasing, working careers must be extended at the beginning, in the middle and at the end of working life, unemployment must be reduced, and disabilities, absences and presenteeism due to illness and psychosocial strain must be curtailed. The overall aim defined in the Finnish strategy for social and health policy titled Socially Sustainable Finland 2020 is to lengthen working careers by an average of three years by 2020 when compared to the year 2010. The better people feel in the workplace and the more healthy they are, the longer their working careers will be and the more productive they will be. At the moment, the minimum cost of lost labour inputs, occupational accidents and diseases and health care costs are 25 billion euros a year according to calculations of Ministry of Social Affairs and Health.

Description of the problem The strategic importance of personnel well-being and work ability as human and intellectual capital of the organisation is a scarcely researched topic. In this presentation we will introduce the emerging concept of wellbeing at work capital.

Results The foundation of well-being at work capital lies in the so called extended view of intellectual capital, which includes the following: work-place social capital and leadership, structural i.e. organisational capital, knowledge capital, and psychological capital. Psychological capital refers to mental resources like self-confidence, resilience, optimism and hope.

Conclusions In addition to traditional ideas of intellectual capital, there is an increasing need for attitudinal capacities like entrepreneurship, the capacity to lead oneself and the ability to use one’s own resources in a sustainable way. From the point of view of an individual, being an active participant in the modern working life requires, most of all, capacity for lifelong learning and renewal.

  • well-being at work capital
  • productivity
  • safety culture
  • social- and health policy

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