Workers Rate Employer Wellbeing Support as Average or Poor

Over half of US employees rate their companies’ wellbeing support as average or poor, according to new research.

The study carried out by Reward Gateway, specialists in employee engagement and HR technology, 51% rated mental wellbeing support average or poor. Another 56% rated financial wellbeing support as average or poor; with another 50% saying the same about for physical wellbeing benefits. The research also found that 41% feel overworked and underpaid, and a third (33%) burnt out. Another 24% do not feel supported by their manager, and 23% don’t think their employer cares about their wellbeing. In fact, almost a quarter of the workforce (23%) is actively seeking new employment due to these employee wellbeing-related factors.

EMPLOYEE WELLBEING

Wellbeing is a complex and interrelated combination of physical, mental, emotional, social and financial factors. For HR leaders vying to engage employees and boost performance, the research revealed some insights into improving employee wellbeing. They include:

• The importance of positive recognition. Two in five people don’t remember being recognised by a manager or senior leader in the last 12 months. Another 60% said they’d like to be recognised more. 
• Improvements in financial wellbeing. Last year, 65% of US employees said that cost of living stress negatively impacted their work. This year, it’s only 42%. Outside of a pay raise, employees want their employers to support them in managing the cost of living. Approximately 43% access to financial wellbeing support. Another 42% want employee discounts programmes. 
• What Gen Z is feeling. Gen Z workers are the most likely of all age groups to say that the cost of living stress negatively impacts their work (59% versus 42% on average). They feel less connected to their workplace than other age groups (71% versus 80% on average). They also rank connecting with colleagues on a personal level in second place for impacting their wellbeing (21% versus 12% on average). 
• A workforce ready to embrace AI: In the quest to achieve work-life balance and address burnout that can lead to attrition, employees see AI as a helpful tool to balance workloads and improve productivity. Employees expressed interest in AI benefits that improve efficiency and automation of repetitive tasks.

WELLBEING LINK TO EMPLOYEE ENGAGEMENT

“Employee wellbeing is critical for companies looking to achieve success in 2024, helping to increase engagement, retention and performance,” shared Anthony Knierim, Managing Director, Americas of Reward Gateway. “Considering that work occupies a significant portion of individuals’ schedules and is intricately linked to their sense of identity and achievement, employers hold a distinctive opportunity. They can not only enhance employee retention and productivity, but also wield substantial influence over the personal happiness and engagement of their workforce.”

Promoting a culture of wellbeing across teams, departments and organisations as a whole can be elevated by investing in the right technology. These tools can empower HR leaders to create a more connected and engaged workforce by supporting mental, physical and financial wellbeing. Through strong leadership and intentional efforts, companies can strengthen individual wellbeing and boost engagement, productivity and retention.

Click here to access the full report.

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