New research from employee benefits provider Zest indicates that 71% of employers have seen increased demand for wellbeing benefits over the past year.
The research was conducted by independent research agency Opinium which surveyed 2,000 adults weighted to be nationally representative between 28th – 30th August 2024 and 500 HR decision makers between 21st – 30th August 2024.
Three quarters (76%) of HR leaders say their organisation has increased investment in wellbeing benefits over the past 12 months and the same proportion (75%) say their business has introduced more mental or physical health benefits during the same period.
Employees believe employers could be doing more to support their physical and mental wellbeing
However, less than half (46%) of employees feel like there are more wellbeing benefits than a year ago – this figure drops to just 17% of employees aged over 55. Worryingly, only half (54%) of employees believe their employer cares about their wellbeing.
Two in five (41%) employees think their workplace benefits package is inadequate, which rises to nearly half (47%) of 18-34 year olds. This is leading to concern that employers are not taking their wellbeing demands seriously enough with almost half (48%) of employees calling for their employer to introduce a Head of Wellbeing role in the organisation.
Benefits packages are increasingly playing a key role in employee decision-making around future roles. Around two-thirds (63%) of employees agree that company benefits have become more important to them when deciding where to work. This rises to almost three quarters (72%) of younger employees aged 18-34. And almost six in ten (56%) employees admit they would leave their current job if another company offered them a better benefits package.
Benefits on offer must match the needs of employees
Commenting on the insights from the report, Matt Russell, CEO of Zest, said: “Worryingly, despite the vast majority of organisations investing heavily in wellbeing benefits, many employees still believe that their employer could do much more to support their mental and physical wellbeing.
“Employers not investing in their benefits packages or ensuring that the benefits on offer match the needs of employees will struggle to keep pace with competitors as the wellbeing revolution accelerates. Those that fail in this area face a real struggle to attract and retain key talent if they don’t understand the wellbeing demands of their workforce.”
Andrew Berrie, Head of Corporate Partnerships and Leading Workplace Wellbeing, Mind, added: “Zest’s research further evidences the importance of employers being committed to supporting the mental health and wellbeing of their people. Employee benefits and wellbeing initiatives have a key role to play, ideally one part of a far broader systematic programme of mental health and wellbeing activity.
“The report highlights the importance of taking a person-centred approach to better understanding the aspects of work that may be negatively affecting worker’s mental wellbeing. Whether that’s work design, organisational culture, or stigma, all require attention to create mentally healthy work for all and enable people and business to thrive.”
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