Recording | Wellbeing in Public Policy: Using the WELLBY to Measure & Monetise Wellbeing Impact

Date: 26th February 2025

Wellbeing is becoming central to public policy, its significance is underscored by the U.K Government’s adoption of the WELLBY (Wellbeing-adjusted Life Year) as a standard for monetising wellbeing impacts. Importantly, it offers a simple, pragmatic, robust way of measuring and communicating the impact of organisations in the social sector. By quantifying a 1-point change in life satisfaction on a 0 to 10 scale for one person over a year, the WELLBY establishes life satisfaction as a key indicator of wellbeing alongside other drivers such as employment, mental health, and community connections.

Building on this, The Tackling Loneliness Hub presents a webinar in collaboration with Jon Franklin, Chief Economist at Pro Bono Economics and Christian Krekel, Assistant Professor in Behavioural Science at the London School of Economics and Research Associate at the Wellbeing Research Centre, University of Oxford.

This interactive session will delve into how the WELLBY can strengthen evidence-based policy and social impact measurement, offering a blend of expert insights and practical guidance.

Click below to download the accompanying slides:
Wellby Webinar Slides_pt 1
Wellby Webinar Slides_pt 2