Addressing employee stress is critical when it comes to talent attraction and retention, said Mercer Marsh Benefits recently when releasing its 2023 Health on Demand Report.
The report is based on a survey of more than 17,500 employees in 16 markets across the globe during October-November 2022 about their priorities when it comes to health and wellbeing, the firm noted.
The results show that 47% of respondents report feeling stressed in everyday life, according to the report.
When asked what factors put them at risk for burnout at work, the top three were work pressures (54%), poor leadership (39%), and toxic culture (37%), Mercer Marsh Benefits pointed out.
Survey highlights
- Only 58% of employees agreed or strongly agreed that they feel free to speak their mind without fear of negative consequences.
- Leading employers are tackling the underlying causes of employee stress as part of a comprehensive and inclusive benefits strategy, such as reviewing job design and supervisor competencies, creating a culture of belonging and inclusive decision making, and offering benefits such as reduced cost mental health treatment and virtual counselling.
- Nearly 70% of employees globally believe their organisation would support them in an emergency or time of need.
- Beyond employee stress, 21% of respondents are concerned about affording healthcare, with women (26%), and single mothers in particular (32%), significantly more likely to lack confidence that they can afford needed healthcare than men (18%).
- Employers are in a unique and critical position to address healthcare gaps by exploring benefits and employee experience strategies that balance human and digital health delivery and respond to the different needs of a diverse workforce.
In addition, the findings show that employees who believe their employer cares about their health and wellbeing are much more likely to be thriving — feeling positive about their health, wealth, and careers.
The findings also show that there is a positive correlation between higher levels of benefits and employee satisfaction, the firm said.
In fact, employees who receive 10 or more benefits are more likely to believe their employer cares about their health and wellbeing, are less likely to move to a different employer, and are more confident that they can afford the healthcare their family needs, the firm added.
Amy Laverock, Global Advice and Solutions Leader at Mercer Marsh Benefits, underscored the need for employers to take a values-based approach to their benefits strategies.
Employees who feel cared for by their employer are more likely to report organisational leadership that is committed to a healthy culture, she pointed out.
“Work-related commitments such as embedding wellbeing in job design and taking action on issues such as living wages and social justice are a key part of this,” said Laverock. “It also means giving employees confidence that they can afford the healthcare that they and their families need and having access to benefits that are relevant to them.”
