New survey reveals gap between workers’ needs and company wellbeing programs

SINGAPORE: A recent survey conducted by WTW has highlighted a significant gap between the wellbeing programs that companies are prioritizing and what their employees actually need.

According to the survey, while most companies are focusing on mental (51%) and physical (49%) wellbeing support, a majority of employees are more concerned about receiving financial wellbeing support, with 53% of respondents highlighting this as a priority.

Despite the evident demand for financial support, this aspect of wellbeing remains one of the lowest priorities for employers. Only 8% of the 100 employers surveyed indicated that financial wellbeing was a key focus for their organization.

The survey also uncovered worrying trends regarding overall employee wellbeing. Nearly half (46%) of the 1,000 employees surveyed reported facing moderate or major issues in at least two areas of their wellbeing. This trend, according to WTW, is contributing to rising rates of absenteeism, presenteeism, burnout, and decreased work engagement.

The survey also revealed that stress levels among employees are high, with half of the respondents indicating above-average stress levels.

Approximately 30% reported experiencing symptoms of anxiety or depression, and alarmingly, the majority are going untreated. Employees aged 40 to 49 years old were identified as being the least likely to seek treatment for their mental health problems.

Companies that are more effective in their wellbeing programs tend to see better financial performance and human capital outcomes. WTW reported that organizations excelling in this area are twice as likely to experience higher employee productivity, increased engagement, lower turnover, and better talent retention.

Audrey Tan, Head of Health & Benefits for Southeast Asia and Singapore at WTW, said: “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.”

Ms Tan emphasized that employers need to establish a framework for prioritizing wellbeing programs and evaluating their ongoing effectiveness versus cost, especially as employee choice in benefits becomes more prevalent.

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