Employee Benefits Market Check Survey: Investment in Employee Well-Being

Employers continue to embrace their role in their employees’ well-being. As employers reinvent their employee attraction and retention initiatives, well-being is being prioritized significantly more than before. Companies will always be concerned with the performance and production of their employees but increasingly understand that focusing on and investing in the whole employee will provide greater benefits to their company culture and overall business outcomes.

We conducted a poll during a webcast on February 17 to gain insight into employers’ focus on employee well-being in 2022. The results are in the chart below.

Key Findings

While many employers are still evaluating their 2022 employee well-being strategies, over one-third indicate they will be increasing investment in their employees’ well-being. As we continue through the year, we expect more employers to formally define their employee well-being goals.

There are many facets to employee well-being, including financial wellness, physical wellness, mental health, and more. While all are important, a company’s demographics, budget, and other workplace program should assist employers in what areas of well-being to prioritize for their specific workforce. If you are unsure about how your workforce perceives what is available and what is needed, don’t be afraid to seek their feedback.

Employers have many competing employee benefits and compensation objectives, but they should not undervalue the importance of investing in their employees’ well-being. These initiatives can boost morale and job satisfaction as well as reduce health risks and costs. We encourage employers to prioritize employee well-being initiatives and incorporate them into their overall business strategies.

Should you have any questions regarding any of this information, please contact your local Assurex Global adviser.