Employers worldwide are investing more in employee well-being programs, says the ‘14th Annual Employer-Sponsored Health & Well-Being Survey’ conducted by Fidelity Investments and the Business Group on Health.
Employers worldwide are investing more in employee well-being programs, says the ‘14th Annual Employer-Sponsored Health & Well-Being Survey’ conducted by Fidelity Investments and the Business Group on Health.
Despite the ongoing economic pressures, 90% of employers stated that they would maintain their investment in well-being, with 31% planning to increase their investment.
The pandemic was cited as the driving force behind the heightened focus on employee well-being, with employers seeking to meet employees' needs in the post-pandemic world. The survey found that onsite well-being initiatives that were paused due to the pandemic are set to return to pre-COVID levels in 2024, with, for example, 61% of employers planning to offer onsite yoga or meditation classes, up from 22% in 2022. Similarly, 60% plan to offer onsite fitness classes, up from 25% in 2022.
The survey also revealed that employers are expanding the scope of their offerings, with 82% of employers planning to focus on social connectedness in 2023, up from 70% in 2022, and 79% planning to focus on community, up from 67% in 2022.
Ellen Kelsay, president and CEO of Business Group on Health, said employers are well aware of the essential relationship between more sustainable workforces and robust well-being strategies. With this in mind, 73% of employers stated that they would offer financial incentives to reward positive well-being actions in 2023.Most employers are providing financial incentives using gift cards or other cash equivalents.
