A 2021 study by MercerMarsh Benefits (MMB) examined which benefits matter most to employees. Here’s our summary of their findings. For the complete report visit mercer.ca
Meaningful support matters to the overall health of the organization
Mental health support in the workplace has become more important than ever over the past few years. It’s no longer considered simply a nice option but rather a must-have. Employees receiving meaningful mental health support are much more likely to believe their employer cares about them and less likely to seek new employment. This support creates a win-win situation for any workplace and leads to improved company performance.
5 Ways for Employers to Show They Care
Research conducted by MMB illustrates five principles employers should consider in supporting employee health and well-being.
1. Support the moments that matter
“Employees who felt well-supported by employers were less likely (25%) to view their pandemic experience as mostly negative compared to employees who did not feel supported (51%).”
2. Provide varied and valued benefits
“Employees with the most varied well-being resources are 35 points less likely to move elsewhere, 27 points more confident they can get the healthcare they need and 11 points more energized than those offered no resources. “
3. Enable digital access to healthcare
“Eight out of ten people intend to use digital well-being solutions, such as video calls to their doctor and well-being apps to help them find healthcare support and self-manage conditions.”
4. Invest in mental health
“One in two employees report feeling at least somewhat stressed every day. However, employees who feel supported by their employer are 10% less likely to be highly or extremely stressed.”
5. Deliver benefits equitably
“Higher-earners are better able to access medical coverage, income protection and mental health counselling than lower-earners. One in three single mothers are not confident they can afford the healthcare they and their family need.”
Action plan
Providing an assortment of mental health resources is key to increasing how much your workforce believes you care. Benefits that are only used under rare circumstances are important but won’t offer the same boost to health and morale that something more frequently used would (e.g., gym benefits). Therefore, a variety of resources is more impactful.
This infographic from the MMB study helps employers visualize improvements to create a more resilient and loyal workforce.
How can Finuity help you support your people?
Ensuring employees have access to an Employee Assistance Plan (EAP), (provided in most employee benefits packages), is a great first step in providing a safe space for them to find support and guidance. EAP’s are confidential and provide a resource of professionals they can connect with to help deal with life’s stresses.
We recommend employers have information about the EAP that their benefit plan provides available on company bulletin boards, employee handouts or via internal communication pieces to show how to use this program.
Source: MMB Health on Demand 2021 research survey.
Survey was fielded March 6 – April 13, 2021
14,096, 18-64 year olds surveyed from: Brazil, Canada, China, Colombia, France, India, Indonesia, Italy, Mexico, Netherlands, Singapore, United Kingdom, United States
