Why you need a digital home for wellbeing24.02.22
Chief Innovation Officer
The large-scale adoption of hybrid working means it’s never been more important for employers to create a destination for employees to proactively manage their health, improve their knowledge, and find support if they are in crisis. In fact, one of the primary recommendations in a financial wellbeing report from the Financial Conduct Authority, HMRC and The Federal Reserve Bank was that employers should offer a user-friendly, web-based platform of useful information and education for employees to better manage their financial wellbeing. Yet, fewer than 20% of employees are aware of where to go to access workplace wellbeing initiatives, and only a third of managers know where to direct their employees.
A blend of benefits…
We saw a resurgence in the very idea of employee benefits during the pandemic. Overnight, millions turned to their benefits packages for support and, as a result, the demand for wellbeing products skyrocketed. More than half of employees now say their benefits package should be designed to help with their wellbeing, 53% of employers say they’ll be evolving their benefits provision over the next two years with an increased focus on employee wellbeing (The New Reward Director research, Benefex).
A growing reappreciation of the value and purpose of benefits at work has been driven by demands from employees for their employers to offer more wellbeing support. In 2021, 68% of employers say they added at least one new wellbeing benefit to their package in response to the pandemic, and many are now looking for ways to enhance their packages to attract and retain talented people.
As well as bringing your wellbeing initiatives together in one place, a digital home can deliver educational and awareness content to your people. In almost every theory and model of health behaviour, knowledge is a key predictor of change. Educational content can help employees understand relevant health information, develop skills to make better lifestyle choices, understand and recognise when they need help, and navigate sometimes-complex health systems. Improved health literacy has been shown to impact behaviours, and we know from a meta-analysis of 126 impact studies that higher financial literacy leads to greater financial wellbeing and fewer financial concerns.
More than half of employees say wellbeing resources that have been shared with them are irrelevant, and only 16% strongly agree they know where to find these resources. 80% of employees believe everyone at their organisation is offered the same wellbeing resources or content, regardless of their individual needs (Welltok, 2019).
If you let employees personalise which resources and content are surfaced to them, you can give them targeted learning and support, delivered at the right time. 82% of employees say they would use wellbeing resources if this was the case.
- 53% of employers are evolving their benefits provision with an increased focus on wellbeing
- 68% added at least one new wellbeing benefit in response to the pandemic
- 80% of employees don’t know how to access workplace wellbeing
Ultimately, whatever platform you use for wellbeing – it needs to provide the same exceptional experience for your employees, if they’re really to use it and get the value you put into it. To learn more about how you can take your wellbeing strategy to the next level through a digital home, take a look at our report, A practical guide to taking your employee wellbeing to the next level.
Gethin is an award-winning psychologist who has been helping some of the world’s largest organisations to improve their employee experience and wellbeing for two decades. The last 10 years have been spent working as part of the senior leadership team here at Benefex where Gethin leads our thought leadership in the market.
As a frequent writer and speaker on employee experience and employee wellbeing, Gethin has been featured in Forbes, The Guardian, The Huffington Post and The Financial Times as well as all major HR, Reward and Pensions publications. Gethin has been listed as one of the world’s top 101 Global Employee Experience Influencers for the last two years running, is listed on the Employee Engagement Powerlist, is one of LinkedIn’s top global contributors and an Inspiring Leader 2021. Gethin is also a regular keynote speaker, Chair of the UK Government-backed Engage for Success Wellbeing Thought Action Group, a Key Stakeholder in UK Government Transport Employee Wellbeing KPI’s and a Fellow at the RSA.
In 2018, Gethin published his first book - the HR bestseller ‘A World of Good: Lessons From Around the World in Improving the Employee Experience’, which has gone on to inspire HR and Reward teams at some of the world’s best known brands. In 2022, Gethin co-authored his second book ‘Das Menschliche Büro - The Human(e) Office’ a collaboration between leading academics and workplace professionals from across Europe.