Levelling Up Health: Why Five More Years of Healthy Life is a Win-Win for Business and Society

‘Four more years’ is the traditional hustings cry of supporters of incumbent US presidents. But the UK government is now promising to go one better with its ambition of ‘five more years’ of healthy life expectancy for all of us.

In a radical new report Levelling Up Health a cross-party group has envisaged a major role for business in contributing to the nation’s health.

The twin threats of climate change and COVID-19 have already focused minds on the clear links between health and economic resilience. But while vaccinations and global warming grab the headlines, we mustn’t lose sight of another powerful, global macro trend: increasing life expectancy. One in four people born today can reasonably expect to live to be 100 and it may be that the first 150-year-old is already among us.

However, while life expectancy is increasing, healthy life expectancy has not moved. That stark truth presents challenges for business and society but also massive opportunities.

We tend to accept that ageing, frailty and ill-health are synonymous, but they need not be. Research shows that lifespan can increasingly map onto youth-span. Just ask any octogenarian marathon runner.

Our increasing longevity requires businesses to look at what they are doing and how they are doing it.  As businesses, we need to challenge ourselves and each other to identify our unique ability to contribute to health and longevity.

Not only is it ethically right but it makes good commercial sense: a healthier nation is more productive and wealthier. As has already been recognised in the climate and zero carbon debates, what’s good for the planet and its people is also good for shareholders. Better health means better returns.

The potential positive outcomes are enormous: it could boost GNP and tax revenue; massively ease the burden on the NHS and the social care sector; improve the sustainability of pension pots; and ensure that citizens remain happier and more economically active for much longer, so that they can continue to contribute their vast knowledge and experience.

So how should business go about it? Well, most of us are now familiar with the demonstrable outperformance achieved by investment funds that integrate ESG factors (Environmental, Social and Governance) as their investment philosophies increasingly align with societal purpose. By incorporating ‘H’ for health into that framework, so that it becomes ESHG, we can ensure that we deliver the best societal outcomes in terms of healthy ageing.

Indeed, there are several ways in which business can play a powerful role in extending the healthy life expectancy of the nation.

As employers we can act to encourage health among our workforces. That means paying all staff at least the national living wage; reducing poor quality, low-paid and insecure work by eschewing zero hours and gig economy contracts; providing proper sick pay; and supporting carers both of children and at the end-of-life.

As providers of products and services we can ensure that we contribute to the population’s health rather than deplete it. For instance, supermarkets and food manufacturers can make sure that the convenient and affordable choice is also the healthy choice.

And in our capacity as investors and innovators, we can learn from the climate change agenda; just as clean and sustainable energy companies are outperforming so too will those that are front and centre in the emerging agenda for health: life sciences companies are just one of the more obvious examples.

Companies that are over-reliant on harmful and unhealthy products and services are increasingly exposed to regulation, tax hikes, litigation and reputational damage. A health agenda tackles that head on.

The truth is that what gets measured, gets managed. Capturing data on organisational performance and impact on health is set to become the next major trend. Health data will be embedded into ESHG frameworks just as climate and net-zero carbon are now.

This is precisely the thinking behind the new Business Index which is being developed as part of the Levelling Up Health agenda. By measuring business contributions to health – incentivising positive contributions and calling out negative ones – we can create a risk management framework that will enhance healthy ageing and boost the economic resilience of the UK.

This is good for employees, communities and customers but also good for companies: healthier longevity means enhanced productivity and greater wealth. Of all the incentives and offers that business can make to citizens and consumers, five more years of healthy life expectancy has to be the most compelling.