January 15th, 2022
The Significance of Employee Wellbeing Benefits to Recruitment Efforts in 2022
Your future employees have higher expectations. The standard benefits package like retirement plans and health insurance, are no longer enough to attract them to join your company. Employee wellbeing has become a focus among candidates and those in the workplace.
This shift is no surprise considering the pandemic’s effect on the workforce. For instance, a survey of 1099 workers found that 40% of participants felt hopeless and exhausted since the pandemic began. Moreover, according to the MHA Work Health Survey on 5030 staff from 17 sectors in the United States, employees feel that employers offer insufficient support to manage stress.
Now more than ever, employers must recognize the importance of employee wellbeing in the workplace. Below, we’ll dive into why mental health benefits and overall employee wellbeing should be a top priority in hiring in 2022.
What Is Employee Wellbeing?
The International Labour Organization describes workplace wellbeing as “how employees feel about their work, working environment, the climate at work, and their organization.” It further adds that employee wellbeing significantly impacts an organization’s effectiveness in the long term, i.e., productivity levels and employees’ overall health.
Unfortunately, remote working impacts employees’ work-life balance, with many reporting burnout and mental stress. As a result, HR leaders have started paying more attention to employee wellbeing. Today, the corporate wellbeing market is approximately $20.4 billion and will likely shoot to $87.4 billion by 2026.
Things That Promote Employee Wellbeing
Having a healthy workforce requires that employees:
- Have adequate resources to fulfill their roles
- Feel that their employers support them
- Get a chance to do meaningful work
- Get rewarded for their positive contributions
- Operate in a healthy work environment
Why Employee Wellbeing Is Vital to Hiring in 2022
The 2021 Great Resignation that resulted in nearly 11 million vacant positions indicates that salaries aren’t the only thing needed to retain talent.
Here’s why employee wellbeing is vital to hiring in 2022.
Gain a competitive edge
A study on job satisfaction revealed that 87% of participants reviewed the wellness programs on offer before accepting a job. It’s worth noting that this was pre-pandemic. Considering the wide range of concerns employees have today, a comprehensive wellness program can help your company stand out among competitors.
Demonstrate you value employees
Employees want employers to view and treat them like human beings rather than insignificant members whose role is to increase their revenues. Introducing wellbeing programs early in the hiring process helps candidates feel that you care about improving their overall health.
Attract and retain top talent
Attracting top talent continues to be a struggle for many employers. Your talent acquisition strategies aren’t foolproof unless you include wellness programs. Your prospective employees have been affected by the ongoing pandemic. To them, an ideal employer prioritizes their wellbeing.
Employee Wellness Trends Predicted for 2022
With the pandemic still here with us, employers are revising their health plans to attract and retain employees and address health inequity.
Here are the employee wellbeing trends to look out for in 2022.
1. Integration of virtual and face-to-face health services
While providers continue to provide virtual healthcare, experts believe integration with physical delivery will rebound in 2022.
2. Expansion of employee wellness programs
Due to the pandemic, employee mental health issues have evolved. For instance, companies have to consider the impact of social isolation on their workforce. As a result, experts believe employee wellness programs will expand. Currently, employers are striving to improve employees’ access to behavioral healthcare by providing online health resources.
3. Increased focus on health equity
The pandemic has highlighted the stark health inequities that prevent many employees from accessing mental health services. Organizations are hoping to change this by providing affordable health benefits plans.
4. Higher health care costs
The 2021 Mercer’s National Survey of Employer-Sponsored Health Plans projects a 4.7% rise in healthcare costs come 2022. While it is partly due to the pandemic, it’s also because organizations will focus on enhancing employee benefits instead of cost savings.
5. A call for more holistic wellness programs
Seven wellness dimensions exist: social, occupational, emotional, intellectual, spiritual, physical, and environmental. Employers must strive to cater to all these dimensions. Moreover, experts believe that programs aimed at improving emotional wellbeing and financial wellness will be of greater focus in 2022. This trend is primarily due to employee financial concerns’ impact on their mental stress.
Employee wellbeing has taken center stage globally, and with good reason. Gone are the days of standard employee benefits packages. Employees know what they want. As an organization implementing these programs can be a challenge.
Seeking external help from an employment agency can make all the difference. PrideStaff is a staffing agency in Fort Lauderdale that has adapted to meet employers’ evolving needs stemming from the pandemic. Whether you need administrative, clerical, or call center staffing solutions, our team of professionals is here to help. Please feel free to contact us at 754.800.2850 to schedule a free consultation today.