Well-Being Benefits
As we discussed in our precious article, employee well-being goes far beyond physical health: it’s about nurturing the vibrancy and growth of individuals within your organization and supporting them in all seven areas of well-being. Given the continued course of the COVID-19 pandemic, employers are aware of the importance of employee well-being. Not only do well-being benefits influence employee engagement and productivity, but a recent study found that they just might be the key to attracting and retaining top talent. In fact, it is believed to be solution to the Great Resignation.
Well-Being Highlights
In a recent survey conducted by PayChex, it was reaffirmed that employee well-being plummeted during the peak of the pandemic in 2020. While employees reported their well-being has slowly been improving, it has yet to return to pre-pandemic levels. Something employees need their employers’ help with. Additional highlights from the study include:
- More than 6 in 10 employees say well-being support programs/benefits will be a top priority for them when applying for their next job.
- Financial well-being is the #1 concern for employees, closely followed by emotional and mental well-being.
- Currently, less than half of employees feel their company prioritizes their well-being.
Moving Forward
As stated by Jeanne Meister, Founder of Future Workplace and Executive Vice President of Executive Networks, “Employee well-being benefits are now one of the most important criteria for employees when applying for or accepting a new job. This means that employers need to think differently about their total rewards package and consider including benefits that address the financial and mental health of their workforce.”
Moving forward, it is important for employers to reevaluate their well-being benefits and make any necessary changes to appeal to the needs of today’s employees. From there, the key is to promote those benefits throughout every stage of the employee experience to avoid losing out on current and prospective talent. For assistance in providing your employees with turn-key well-being benefits, contact Health Designs today!
