Nearly all (90 per cent) global employers say they plan to maintain investments in employee well-being and a third (31 per cent) say they’re planning to increase these investments amid the current economic environment, according to a new survey by Fidelity Investments and Business Group on Health.
The survey, which polled more than 180 employers, found respondents were most likely to expand investments in mental health (74 per cent), financial wellness/well-being (53 per cent), work-life balance (52 per cent) and physical health initiatives (50 per cent).
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In addition, 82 per cent said they plan to expand their well-being strategies to include social connectedness, up from 70 per cent last year, while 79 per cent said they plan to focus on community, up from 67 per cent.
The survey also noted employers plan to focus on in-person wellness initiatives this year. Nearly two-thirds said they plan to offer onsite yoga or meditation classes (61 per cent), health fairs (62 per cent) and fitness sessions (60 per cent), up from 22 per cent, six per cent and 25 per cent, respectively, last year. More than a third (35 per cent) said they plan to offer onsite counselling or therapy, up from 18 per cent in 2022.
Nearly three-quarters (73 per cent) of employers said they plan to offer financial incentives to reward positive well-being actions, such as gift cards or other cash equivalents (52 per cent) and contributions to health-care spending accounts (40 per cent).
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And while 80 per cent of employers said they take a consistent approach to employee well-being across global operations, they cited several challenges to this approach, including employee needs differing by country (63 per cent) and a lack of providers delivering global solutions (38 per cent).
“Employers are well aware of the essential relationship between more sustainable workforces and robust well-being strategies,” said Ellen Kelsay, president and chief executive officer at Business Group on Health, in a press release. “It’s exciting to watch major employers demonstrate their commitment to employees by growing their well-being initiatives. By improving upon their existing offerings, everyone wins.”
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