Of the four pillars of health and wellbeing (mental, physical, financial and social) employers are most concerned about the physical and mental health of their employees, according to new research1 from Towergate Health & Protection.
But, employers believe the priority for their employees is their financial health, and this difference in priorities needs to be addressed.
The figures
A huge 89% of employers have concerns about the health and wellbeing of their employees, with both mental and physical health topping the list for 52%. Worries about the financial health of employees came next, stated as a concern by 46% of employers, and social health was stated as a concern by 41% of employers, when considering the needs of their employees.
However, when asked what they believe is most important to their employees in terms of health and wellbeing, the results show a different story, with financial health significantly ahead of the rest, important to approximately half of employees (49%). Physical health came next as the most important, at just a quarter (24%), then mental health at one-fifth (21%) with social health and wellbeing seen as important to just 7% of employees.
As an employer, do any of the following concern you in terms of your employees’ health and wellbeing?
The physical health of our staff 52%
The mental health of our staff 52%
The financial health of our staff 46%
The social health of our staff 41%
Which of the four pillars of health and wellbeing do you believe are most important to your employees?
Support for financial health and wellbeing 49%
Support for physical health and wellbeing 24%
Support for mental health and wellbeing 21%
Support for social wellbeing 7%
Debra Clark, head of wellbeing at Towergate Health & Protection says:
It is extremely interesting to see the disconnect between the areas of health and wellbeing that employers are concerned about for their staff, and what they feel actually most concerns their staff in practice . This means that employers may need a more strategic approach to providing the right health and wellbeing support, to ensure the most pressing concerns are addressed.
Debra Clark, head of wellbeing at Towergate Health & Protection
Employee surveys
Offering the most appropriate employee benefits is a matter of striking the right balance. With a difference in opinion over where the priorities lie, it is a good idea to do some investigative work and use employee surveys to discover the true needs of staff: ask them what their concerns are, and what support they’d like.
It is important to find a balance between needs and wants. Financial support may be popular, but it may be that providing support by means of healthcare, critical illness cover, childcare, mental health counselling, and a whole host of other options, may actually be far more valuable to overall health and wellbeing, including financial health.
A lot of this will come down to how the employee benefits offered are communicated. It is important for employees to understand the full value of the support available. Private medical care, for example, will have a monetary value, but also a much bigger value in an employee receiving swift, expert medical attention when needed.
Debra Clark comments:
There is a balancing act involved in providing the right health and wellbeing support. It is important to ensure that all areas of health and wellbeing are given due consideration and that there is support available that will meet with the different needs across a workforce, with help in all areas, not just the easiest or most obvious ones to deal with.
Joanne is the editor for Workplace Wellbeing Professional and has a keen interest in promoting the safety and wellbeing of the global workforce. After earning a bachelor's degree in English literature and media studies, she taught English in China and Vietnam for two years. Before joining Work Well Pro, Joanne worked as a marketing coordinator for luxury property, where her responsibilities included blog writing, photography, and video creation.