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Workers feel more positive about their employer when offered wellbeing benefits

Employees say they would feel more positive towards their employer if they were offered bonuses and other benefits.

Research by Canada Life Group Insurance has revealed that two-fifths (40%) of employees would feel more positive towards their organisation if they were offered an annual bonus as part of their benefits package.

Just over a third (36%) of the 1,001 UK employees surveyed would feel more positive if they were given more than 20 days of holiday, excluding bank holidays, while 33% said the same about private medical insurance.

Group risk benefits were also viewed favourably, with respondents saying that they would feel more positively about their organisation if offered group income protection (31%), group life assurance (26%) and access to critical illness cover (25%).

Just one in ten (11%) workers said that none of the wellbeing benefits suggested would make them feel more positive towards their employer.

Last year, UK employees spent an average of £174 per month on wellbeing products such as insurance and gym memberships. Those aged between 18 and 34 spent more than double the national average, at £380.

Paul Avis, marketing director at Canada Life Group Insurance, said that employers have a "vital role" to play in improving their employees' physical and mental wellbeing.

"By offering a wider range of workplace benefits, such as group life assurance and group critical illness, employers would make an active, positive contribution to the wellbeing of their workforce," Avis argued.

"This would be especially pertinent for millennials, who spend the most out of any age group on wellbeing products.

"But offering a range of wellbeing products would also have its benefits for employers. They would be viewed more positively by staff, which would ensure that they maintain a healthier workforce in the long run and aid retention strategies. Not only is this beneficial with regards to current employees but offering products that save workers' money can aid efforts to attract future talent."

Posted on January 21st 2019

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