Read: The health cost of the cost of living crisis
As the cost of living crisis becomes a daily feature of our news and inflation hits 7%, it’s clear that both will have a far-reaching and long-term impact on the lives of many people. We will see an impact on people’s mental and physical health and, sadly, it is inevitable that, for some, there will be long-term consequences.
The perfect storm of rising food and fuel prices, shortages related to the international situation, alongside continuing staff absences as a result of COVID are all contributing to the crisis, the like of which has not been seen in this country since the 1970s. It will undoubtedly generate a huge rise in both physical and mental health issues, particularly in the most disadvantaged communities that were hit hardest by the pandemic. These communities - already disadvantaged - are also the least resilient.
It is well-known that social determinants – the social, economic and environmental conditions in which we live - shape our health. Inequality in any one aspect is certain to lead to further inequality in health. Poor health limits opportunity, limits aspiration, increases poverty and will affect those already living in more disadvantaged communities.
That impacts the NHS. Recent figures show that decades of improvement in cancer survival rates are at risk as a result of staff shortages and disruption caused by the pandemic. There has also been a 60% rise in gynaecology waiting lists, with 570,000 women waiting to be seen. The current demand from adults and children for mental health services is unprecedented. Further pressure on resources will only exacerbate the situation, with all the associated repercussions for emergency and longer-term care for every part of our health service.
Inevitably, the impacts will feed in more broadly to a wider impact on the country, particularly in reference to productivity and the economy. For example, ill health is responsible for 30% of the shortfall in productivity in the Northern Powerhouse compared with the rest of England.
While the pandemic negatively affected so many aspects of our lives, it has also galvanised many organisations into action - to support their colleagues, their customers and their communities, with a focus on the those that are most in need. The best organisations were already incorporating purposeful strategies to do good. The pandemic accelerated that approach and forced others to examine, and re-examine, how effectively they were delivering a positive social impact where it was most needed.
The Purpose Coalition is working in partnership with businesses, NHS Trusts, universities, local authorities, and NGOs to ensure that equality of opportunity is available everywhere. With the Purpose Goals as its framework, it is encouraging purpose-led organisations to measure and assess their social impact across a range of indicators, at every life stage and in key areas such as digital connectivity and sustainable communities. Using a common framework enables organisations to share and compare best practice, learning from others about what works well.
Goal 8, Good health and wellbeing, is at the heart of this, with an ambition to improve it across all ages. A Purpose Coalition partner, Virgin Money, is leading by example in the financial services sector, with a strategy built around four elements - mental wellbeing, physical health, the development of social connections and support to encourage staff to be financially stable. Among other things, Virgin Money offers an holistic health and wellbeing portal that helps staff to proactively manage their wellbeing while also creating social circles and a ‘Be Supported’ scheme to help staff at work and at home with practical, impartial support on home and family issues.
Severn Trent, another Purpose Coalition partner, is demonstrating its commitment to the wellbeing of its customers. As a utility company it has a particular role to play in looking after more vulnerable people and providing assistance on affordability as well as long-term solutions to help break the cycle of poor social mobility. Severn Trent runs a number of financial support schemes and supported 154,000 customers each year in 2020/21.
The Premier League, also a Purpose Coalition partner, is at the forefront of efforts to bring opportunity to areas that are often left behind. With its broad geographic reach and popular appeal, their successful community programmes, PL Primary Stars and PL Kicks, use the power of sport to help children to lead healthier lives and to develop the skills and ambition that will help them succeed. PL Inspires, for 11-25 year olds, is aimed at those at risk of being marginalised or not reaching their potential, supporting them to develop a positive attitude and the right personal skills as they move through adulthood.
Sir Michael Marmot’s latest review, The Business of Health Equity: The Marmot Review for Industry, also acknowledges the role businesses can play in reducing health inequalities by improving the social conditions that affect health and health equity through conditions of work and employment, goods and services and their impact on the wider society and environment.
The cost of living crisis will make huge demands on all of us. As with the pandemic, it is crucial that organisations play their part in providing help for those who need it most. There are challenging times ahead but there are opportunities for every organisation to grab the opportunity to create a fairer society and make equal opportunity a reality.
Rt Hon Anne Milton, Chair of the Purpose Health Coalition