By Matt Russell, CEO at employee benefits technology company, Zest
Many employers and employees across the globe will be familiar with the term greenwashing – but what about wellbeing washing?
Findings from Zest’s latest research show that six in ten (62%) of workers in the UK now want more wellbeing benefits at work, be it paid mental health leave, private medical insurance or a discount to their local spa. This demand also rises for younger workers, with seven in ten (70%) aged 18-34 now calling for more of these perks.
In a world where growing value is placed on employee benefits – half (47%) of UK employees now say that a good benefits package is the most important thing they look for in a job – and where nearly six in ten (56%) aren’t afraid to move to get what they want, employers are right to have keenly embraced the latest workplace wellbeing benefits if they are to attract and retain the best talent.
Three quarters (76%) of businesses have introduced more wellbeing benefits whilst 66% say they’ve introduced a Chief Wellbeing Officer or equivalent. Most of the top five benefits employers have added to their packages this year support wellbeing in some shape or form, including a four-day work week, mindfulness programmes, paid mental health leave, fitness classes and cycle to work schemes.
Employers are now so focused on wellbeing, the research shows that more organisations have introduced mindfulness programmes than have increased pension contributions over the past year.
If businesses want to successfully ride the wellbeing wave to improve support, boost morale and enhance productivity amongst employees, they must also take care to avoid the increasing risk of wellbeing washing – blindly implementing initiatives while failing to ensure that they’re genuinely improving the wellbeing of their people.
Like any initiative, simply talking the talk when it comes to wellbeing will not get a business very far. Failing to walk the walk not only puts a businesses’ reputation on the line but worse still, risks damaging employee wellbeing more than not making any changes at all.
If, for example, mindfulness programmes are really what employees want – great. However, given recent research from the Resolution Foundation and Living Wage Foundation revealed that basic retirement costs have risen by 60% in the last year, many may prefer support on their long-term savings instead of wellbeing programmes. Benefits that are sat unused provide low value for employees, create poor return on investment for employers, and as the research shows, leave businesses at a high risk of losing key talent.
While businesses must recognise the need to support the mental and physical health of their people, employers must first understand their employee’s needs, adopt the benefits they’re confident their employees actually want – whether that’s wellbeing or financial support – and finally, communicate them clearly if they are to be successful.
If they don’t, another employer will – this will impact an organisation’s productivity, talent retention and competitiveness.
The post Employers are right to respond to growing wellbeing demands but must tread carefully first appeared on HR News.
