Four in five employers have upped health and wellbeing support or employee benefits to cater to the changing circumstances of their staff, according to research from group risk industry body Grid.
The survey of 503 HR decision-makers found 80% of businesses had increased their support for health and wellbeing or employee benefits over the past 12 months.
This included more than a quarter (27%) increasing their investment in new employee benefits to provide extra support, or mading support available for more of the workforce (27%), and also extending support to family members (22%).
Demand for additional support was backed up by a survey of 1,212 employees who highlighted that over the past 12 months their health and wellbeing had deteriorated mentally, physically, socially, and financially – with this being most adversely affected.
The survey found 40% of employees felt their financial health had deteriorated. This figure was 29% for mental health, 28% for physical health and 24% for social health.
Correspondingly, employers were recognising their role in assisting staff, with 51% of employers feeling increased responsibility for their employees’ mental wellbeing. This figure was 51% for social wellbeing, 49% for financial wellbeing and 47% for physical wellbeing.
However, while 24% of employers responded positively to employee requests for changes in health and wellbeing support, three quarters (76%) had not, with financial wellbeing cited as area of most concern for employees.
Around 20% of employers reported that they had increased access to funds to pay for support directly.
Katharine Moxham, spokesperson for Grid, (pictured) said: “A crystal ball would be hugely beneficial to help plan ahead for employees’ needs but in the absence of any ability to see into the future, employee benefits must be all encompassing to support all areas of health and wellbeing.
“This time last year, interest rates were still quite low and the full impact of the current cost of living crisis was not known and so it’s understandable that employers were not as focused on supporting financial wellbeing as they might be now.
“It’s important that employers do not try to second guess what employees need but listen to their current concerns. Many employee benefits, such as group risk products, are all inclusive in terms of the wellbeing support they offer.
“This means that no matter what happens within a business, or what external factors employees face, support is available across all pillars of health and wellbeing to ensure all staff have access to the comprehensive support they both need and deserve.”