Four out of five employers have bumped up their health and wellbeing support or employee benefits to adapt to the changing circumstances of their staff, according to new research.
New data gathered for GRiD, the industry body for the group risk protection sector, has found employers themselves felt their responsibility had increased for supporting the mental and social health of employees.
As a result of this increased sense of duty, during the past 12 months, many employers have increased the provision of the health and wellbeing support or employee benefits, that they offer their staff. Twenty seven per cent increased their investment in new employee benefits to provide extra support, while the same amount made support available for more of the workforce.
Katharine Moxham, spokesperson for GRiD, said, “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.”
The research found that over the past 12 months, employees felt that their health and wellbeing had deteriorated mentally, physically, financially, and socially, with financial wellbeing being the area most impacted: