TIDMWEIR
Weir Group PLC
05 June 2023
Weir's commitment to mental health recognised in CCLA
benchmark
-- Latest investor benchmark ranks Weir as biggest improver on
performance and disclosure on mental health
-- External recognition of Weir's commitment to help colleagues
achieve positive mental health outcomes
-- Reinforces Weir's actions to meet its goal of being a zero harm workplace
The Weir Group PLC (Weir), a global mining technology leader,
has been recognised for its commitment to workplace mental health
in the latest CCLA Corporate Mental Health benchmark - UK 100 ,
published today.
According to the benchmark, which assesses 100 of the largest
listed UK companies on their global approach to workplace mental
health, Weir's performance on practice and disclosure improved the
most year-on-year climbing two tiers, from tier 4 in 2022 to tier 2
in the 2023 report.
This improvement in performance reflects our commitment to the
mental health and wellbeing of our people and our actions to create
a zero harm environment where everyone at Weir can do the best work
of their lives.
The link between the workplace and the mental health and
wellbeing of its people is becoming clearer and more important,
especially right now, with the cost-of-living crisis coming so soon
after the Covid-19 pandemic. Workplaces like Weir have a
significant opportunity to help people achieve positive mental
health outcomes for themselves and those around them. In addition,
we know that research shows that workplaces with a culture of
wellbeing are more successful, so there are business benefits
too.
In the benchmark, companies are ranked across five overall
performance tiers to encourage them and investors to think
seriously about mental health as a systemic risk, and to develop
robust management systems so that companies and their employees can
thrive.
Weir's approach to health and wellbeing
Weir's ambition is zero harm, where everyone has a safe start, a
safe finish and a safe journey home. This extends beyond physical
safety, supporting our people to take a holistic approach to their
overall health and wellbeing, because we know that the safety,
physical and mental health and wellbeing of our employees are
intrinsically linked.
We have a Health and Wellbeing strategic framework, launched in
2021, which sets out employee wellbeing priorities. Our framework
is driven from the top of our organisation and is delivered
locally, tailored to different cultural and workplace needs.
Read about our Health and Wellbeing strategic framework in
action at global.weir/careers/health--wellbeing/
Commenting on CCLA's report findings, Jon Stanton, CEO of the
Weir Group said:
"We want everyone at Weir to know that we care - that it's ok
not to be ok and that we prioritise mental wellbeing - so I'm
delighted that Weir has been recognised in CCLA's latest
benchmarking report for making the biggest improvement in managing
workplace mental health. It's great to see our ranking improve by
two tiers from tier 4 in 2022 to tier 2 in 2023. We welcome the
latest report that will provide us with further insight and
guidance on how we can continue to build an even healthier and more
resilient workforce.
It is important to me to help develop a space where people can
bring their authentic selves to work to deliver the best work of
their lives. I'm incredibly proud of our culture of wellbeing to
deliver successful, meaningful, sustainable growth for us all."
Peter Hugh Smith, Chief Executive, CCLA Investment Management
added:
"One of the key aims of this initiative is to guide companies in
reinforcing and formalising their own approaches to workplace
mental health. It is hugely encouraging to see high profile,
multinational companies such as Weir Group taking this benchmark
seriously. We look forward to other companies following the superb
example set by this business. Companies, employees and investors
all stand to gain."
The full benchmark report is available at:
https://www.ccla.co.uk/documents/2023-uk-100-benchmark-report/download?inline
Enquiries:
Investors: Edward Pears +44 (0) 141 308 3725
Media: Sally Jones +44 (0) 141 308 3666
Citigate Dewe Rogerson: +44 (0) 207 638 9571
Kevin Smith Weir@citigatedewerogerson.com
-------------------------------
About The Weir Group PLC
Founded in 1871, The Weir Group PLC is one of the world's
leading engineering businesses with a purpose to make its mining
and infrastructure customers' operations more sustainable and
efficient. Weir's highly engineered technology enables critical
resources to be produced using less energy, water and waste while
reducing customers' total cost of ownership. The Group is ideally
positioned to benefit from structural trends that support long-term
demand for its technology including the need for more essential
metals to support economic development and carbon transition. The
Group has c.12,000 employees operating in over 60 countries with a
presence in every major mining region of the world. Find out more
at www.global.weir .
Weir's ordinary shares trade on the London Stock Exchange
(ticker: WEIR LN) and its American Depositary Receipts trade
over-the-counter in the USA (ticker: WEGRY).
About CCLA and the Corporate Mental Health benchmark
The CCLA corporate mental health benchmark was launched in
October 2022. It assesses 100 of the UK's largest listed companies
with more than 10,000 employees each, representing a combined
workforce of 5 million employees(1) on their global approach to
workplace mental health. It ranks companies across five overall
performance tiers to encourage companies and investors to think
seriously about mental health as a systemic risk, and to develop
robust management systems so that companies and their employees can
thrive.
The CCLA Corporate Mental Health benchmark is also starting to
serve as an important engagement tool and accountability mechanism
for a growing global coalition of investors and asset owners.
Signatories to the Global investor statement on workplace mental
health (2) now number 45, representing in aggregate more than $8.5
trillion in assets under management.
Notes
1. Bloomberg
2. Global investor statement on workplace mental health
(ccla.co.uk)
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