A significant shift towards employee wellbeing is underway, with businesses observing a notable increase in demand over the past year.
- Employers report a 71% increase in demand for wellbeing benefits, according to Zest’s latest research.
- 76% of HR leaders confirm a rise in investment towards mental and physical health benefits.
- However, only 46% of employees perceive an increase in wellbeing benefits available to them.
- There’s a call for a Head of Wellbeing role, with nearly half of employees supporting this initiative.
Recent findings highlight a substantial rise in employee demand for wellbeing benefits, with 71% of employers noting this trend. As acknowledged by Zest, a leading employee benefits technology company, businesses are increasingly pressured to focus on employee mental and physical health.
While three-quarters of HR leaders report boosting investment in wellbeing benefits, there remains a gap in employee perception. Only 46% of employees acknowledge the availability of more wellbeing-related benefits compared to the previous year. This discrepancy is particularly pronounced among older employees, with only 17% of those above 55 noticing any enhancement.
A concerning 54% of employees feel their employer lacks genuine concern for their wellbeing. As a result, benefits packages are becoming crucial to employee retention and recruitment strategies, with 63% of employees rating company benefits as significant in their employment decisions. Notably, this sentiment is even higher, at 72%, among younger employees (18-34 years).
To address these concerns, 48% of employees support the introduction of a Head of Wellbeing role, emphasizing the growing expectation for structured wellbeing strategies. Investing in employee wellbeing is not merely a trend but an essential factor in maintaining a competitive edge in talent acquisition and retention.
Matt Russell, CEO of Zest, expresses concern that despite significant investments, many employees feel support for their wellbeing could improve. He warns that companies failing to align their benefits with employee needs may struggle in the evolving workforce landscape.
Andrew Berrie from Mind adds that employee benefits should be part of a comprehensive approach to workplace mental health, with attention to work design, culture, and stigma management essential for fostering mentally healthy work environments. His insights underline the crucial need for employers to move beyond token gestures and adopt a genuinely holistic approach to employee wellness.
Understanding and addressing employee wellbeing demands is vital for talent retention and a thriving workplace.
