An organisation that nurtures the physical and mental wellbeing of its workforce reaps the benefits of increased productivity and improved employee retention.
A third of employees rank private medical insurance ahead of other well-known benefits such as increased pension contributions, high street discounts and a company car.
Despite UK employees favouring financial support, 57% of employers have focused on providing health benefits and mental health support, revealing a potential mismatch in priorities.
With changing employee needs and evolving support options, it is vital that all employees are made aware of, and kept up to date with, the full range of benefits on offer.
According to the latest benefits design research, employee wellbeing is now a priority for employers, and the significance of benefits programmes is continuing to rise.
New data has revealed that employers in the UK are increasing investment in employee benefits packages as they attempt to gain a competitive edge in the race for talent.
Practical strategies for employee mental wellbeing can offer a competitive advantage. Several well-known companies prioritise their employees' mental health, recognising its positive financial impact.
Only 1/4 of employers are aware of all available employee benefits. Lack of market knowledge could hinder their access to valuable services for staff and organisational support.
57% of UK businesses say that rising costs are influencing their strategy for employee benefits. Yet, as companies continue to grapple with attracting key talent, investment in benefits remains a major priority.
Advice for leaders on how to ensure a business stands out from the crowd in a hugely competitive market without injecting huge financial resource in simply raising salaries.