Financial wellbeing concerns about employees are growing among multinationals as the global pandemic appears to be moving into the rear view window.
But the pandemic also created a demand for telemedicines from multinationals – a trend that is not slowing down anytime soon.
While these firms are increasingly demanding healthcare equity across workplace populations, that does not mean one size fits all solutions are the answer as region specific solutions remain necessary – particularly in regions of the world where menopause and mental health taboos still exist.
And there are also signs firms may be in danger of forgetting crucial lessons learned over the pandemic when it comes to worker wellbeing.
Global inflation worries
“Financial wellbeing is in the spotlight at the moment and is finally being recognised as a key factor in both mental and physical health,” Dr Leena Johns, chief health and wellness officer at Maxis GBN, tells Health & Protection.
“With global inflation soaring in the last year, the demand for support in this area is at an all-time high. Multinationals know that financial ill health can result in mental and physical health challenges for their people.
“Offering financial wellness services can not only help employers offer much needed help for employees, but can also help them win the war for talent and retain their best people.”
Telemedicines the norm
But when asked about the most significant trends affecting international health and wellbeing technology, Now Health International pointed to the emergence of telemedicine services, adding that the tool has now “firmly” established itself as the “norm”.
Johns agrees – adding the trend towards telemedicine is showing no signs of slowing down.
“People have busy lives and they’ve realised that it’s much easier to speak with a doctor or healthcare specialist virtually in the first instance and, for some, speaking to someone from the comfort of home is much easier,” she continues.
“People are used to digital services in every area of life, so why should healthcare be any different?
“Virtual healthcare services are crucial for those in locations without access to good quality healthcare services, and have a huge role to play in helping to improve healthcare equity.
“The Covid-19 pandemic resulted in a shift in the health and wellness landscape, and our clients want to see products tackling equitable healthcare, and diversity, equity and inclusion (DE&I).”
Health issues less taboo
But despite this emphasis on health equity, Johns maintains there has also been a move away from the traditional ‘one-size-fits-all’ approach to health and wellness and the start of tailoring products to the specific needs of individuals. This is very much determined by factors such as age and gender.
“With DE&I firmly in the spotlight, conversations are opening up around topics such as menopause, fertility and more, which need to be addressed properly in order to target the range of needs of today’s diverse workforce,” she adds.
And according to Johns, this has also meant some topics are becoming less taboo.
“Over the last few years, we have seen an increase in people asking for mental health support as the issue becomes less taboo,” Johns continues.
“This demand will only increase as the conversation continues and the stigma continues to be challenged, so offerings which provide mental wellbeing support will be crucial to keeping employees happy and healthy, and retaining top talent in the future.
“Both menopause and mental health are impacted significantly by location, with stigma still being experienced in some markets, although this has definitely reduced in recent years.
“Despite this, it’s undeniable that the demand for services tackling these crucial issues will continue to rise as the dialogue around healthcare and DE&I continues.”
This demand for a tailored approach is reflected in Now Health Intenational considering developing region-specific solutions and partnerships in certain situations and locations.
Though the provider adds it does find having “broad reach” products and services that members can tailor to their specific needs is a “worthwhile” approach both for the business and its members.
But that need for region specific solutions is also driven by technology – or in some cases a lack of it, says Nadia Jafar, chief executive of Bluestone of London.
“With the help of technology, of course, remote workers can now receive care from the comfort of their own homes through video conferencing or over the phone,” Jafar adds.
“However, there are challenges for insurers and healthcare providers, for example limited access to high-speed internet, limited privacy and security and limited engagement from workers who are not comfortable or willing to use this technology.”
Forgetting pandemic lessons
Michelle Bishop, EU team leader, multinational benefits and HR consulting practice at Gallagher, agrees – citing a lack of internet connectivity in certain regions around the world among a number of underlying factors that were highlighted over the pandemic.
She warns the sector is in danger of forgetting these learnings as the pandemic moves into the rear view mirror.
“I think there are a couple of underlying things more important to people’s health and wellbeing (whole of population risk mitigation) that were highlighted by the pandemic, which we are in danger of forgetting or not resolving as they require a longer term approach,” she says.
“These include the ability to locate people immediately and systematically through relevant technology, to find and communicate resources able to keep them healthy and secure.
“In many remote locations internet connectivity is still not reliable nor even available and so upfront planning for these populations is a must as well.
“And while the delivery of virtual care is great, regulatory environments in some locations need to change first before before the delivery of physical support such as where prescriptions can be facilitated,” she concludes.