Wellbeing programmes misaligned with employee needs: survey

Employers are prioritising mental and physical wellbeing support, yet employees are most concerned about financial wellbeing.

There is a gap in what employee wellbeing programs that companies are prioritising versus what their employees need, a survey by WTW found.

Whilst most employers are still prioritizing support for mental (51%) and physical (49%) wellbeing, their employees are most concerned about receiving financial wellbeing support (53%), the survey found.

Financial wellbeing support emerged as one of the lowest priorities of employers, with only 8% of the 100 employers polled indicating this.

Overall, nearly half (46%) of the 1,000 employees surveyed said that they are suffering from moderate of major issues in at least two areas of their wellbeing.

Poor health in any dimension of wellbeing can lead to higher absence, presenteeism, and burnout amongst employees and lower levels of work engagement, WTW said.

“Mental health is a growing concern in Singapore. Employers can provide communication, manager training and programmes that are geared towards engaging employees on mental health issues, as well as creating social connections that encourage employees to improve their mental health,” said Audrey Tan, Head of Health & Benefits for Southeast Asia and Singapore at WTW.,

The survey also revealed that half of the employees have above average levels of stress. About 3 in 10 have reported having anxiety or depression symptoms, and most are untreated.

Employees aged 40 to 49 years old are the least likely to get treatment for their mental problems, the survey found.

Better financial performance
Companies that are highly effective in their wellbeing programmes are two times more likely to report better financial performance and human capital outcomes, WTW said.

Benefits include higher employee productivity and employee work engagement, lower annual employee turnover, and better talent retention.

“The war for talent is no longer just about pay – benefits matter to employees, with higher levels of appreciation seen when they can choose employee benefits that meet their individual needs.” Tan said.

Tan added that employers also need to establish a mechanism for prioritising programmes and evaluating ongoing effectiveness versus cost in enhancing their benefits offerings, with choice becoming more widespread.