7 tips for ensuring your health and wellbeing benefits remain relevant
While private medical insurance (PMI) remains a core benefit for many businesses, it’s not always feasible for employers to offer it to their entire workforce in the current difficult financial climate.
According to research by Sodexo Engage, 57% of HR professionals reported feeling pressure from leadership to reduce their employee benefits budget.
Employee health and wellbeing is a crucial issue for employers and HR professionals. With an ever-shrinking budget, it’s essential to provide benefits that are relevant to employees. The more employees engage with wellbeing benefits, the higher the return on investment.
The growth of alternatives
With Generation Z, the next generation of employees, getting ready to join the workforce, businesses need to rethink their views on the core health and wellbeing benefits.
For example, research in 2019 suggested that the highest rate of people dropping PMI was among those in the 25 to 34 age range. Statistics also show that Millennials are most likely to have a gym membership.
Many PMI packages offer access to gym discounts. However, a growing number of employees will not use PMI and need an alternative way to access physical wellbeing benefits. This is why gym discounts need to be considered a standalone core health benefit.
According to 33% of employees, speedier access to a GP would reduce the number of days they took off sick. A digital health platform that provides access to GPs virtually and a wealth of health resources is an essential benefit for businesses and employees alike. Available as part of PMI or as a standalone product, a virtual GP service should also be considered a long-term health and wellbeing benefit.
Maintaining long-term relevance
Having established which health and wellbeing benefits matter, let’s focus on how to ensure they remain relevant.
1. Internal surveys
Regularly survey your employees to understand their current health and wellbeing concerns and their preferences for benefits. Ask about their physical, mental and emotional wellbeing needs, and gather feedback on the benefits they’re using.
2. Stay up to date
Keep up with the latest trends and best practice in employee health and wellbeing benefits. This knowledge will help you understand what other companies offer and identify new, innovative benefits.
3. Diversity and inclusion
As we’ve already highlighted, the age range of your employees affects their choice of health and wellbeing benefits. But there are other factors to consider and it’s essential to recognise that different employees have different needs.
Health and wellbeing is more than physical, so you should also include mental health support via an employee assistance programme, providing access to counsellors and information.
4. Be individual
Offer resources and programmes that can be personalised to employee needs and circumstances. This might include providing access to wellness apps and allowing employees to choose from health-related benefits.
5. Communicate
Regularly communicate with employees about the health and wellbeing benefits available. Ensure they know the resources and programmes you offer, how to access them and the benefits they can expect. Use multiple channels, such as email, newsletters, intranet portals and posters, to ensure the information reaches all employees.
6. Evaluate and review
Continuously evaluate the effectiveness of your health and wellbeing benefits. Monitor engagement levels, feedback from employees and any changes in needs or priorities. Use this information to refine your offerings, add new benefits and retire those that are no longer relevant.
7. Nurture a culture of wellbeing
Encourage a culture that values and prioritises employee health and wellbeing. Create an environment where employees feel comfortable discussing their needs and seeking support. Provide educational resources, organise wellness challenges and promote a healthy work-life balance.
By taking these steps, you can ensure that your health and wellbeing benefits remain relevant to employees, boosting engagement, reducing absenteeism and cultivating a happy and healthy workforce.
Supplied by REBA Associate Member, Pluxee UK
Pluxee UK, is a leading employee benefits and engagement partner that opens up a world of opportunities to help people enjoy more of what really matters in their lives.
