Wellbeing matters and is THE core key feature within any employee benefits package.

Wellbeing (noun) Definition: A good or satisfactory condition of existence; a state characterised by health, happiness, and prosperity.

We know that employee happiness and wellbeing are directly linked to the benefits they receive. Employees who feel valued and happy at work are more productive and effective in their roles. Additionally, organisations that provide appropriate benefits to support employee wellbeing are more likely to foster engaged and high-performing teams.

In today’s fast-paced, competitive corporate world, prioritising employee wellbeing is no longer a perk, but a necessity.

But why does employee wellbeing matter?

Employee wellbeing goes beyond physical health, it also includes mental, emotional, and financial wellness. Employers who invest in the wellbeing of their workforce not only meet their Duty of Care obligations but also create a positive workplace culture. This results in higher retention levels and enhanced productivity.

According to latest research, 82% businesses have seen their employees demanding more wellbeing benefits, with 56% of employees saying that they would leave their job if another company offered them a better benefits package.  In addition, it’s widely recognised the need for benefits packages to address unprecedented employee stress levels causing burnout, decreased engagement, and higher absenteeism, highlighting how great wellbeing and benefits are not just good for employees; they are good for business.

Tangible benefits, especially those with high (perceived) value, can significantly boost employee morale and fulfilment. There is a lot of noise now for electric vehicles supplied as an employee benefit. A brand-new car, for example, is more than just a mode of transport, it’s a symbol of appreciation, recognition and support from an employer. Car benefit schemes not only signify support and recognition to employees, elevating job satisfaction and motivation but they also host several other perks that boost workplace wellbeing and engagement levels.  One benefit of the scheme to employee wellbeing is financial peace of mind. Employees don’t need to worry about car loans, credit checks or deposits. A fixed monthly reduction from their salary covers it all- insurance, tyres, VED, servicing, and even breakdown cover.

Sustainable benefits have become vital to the wellbeing of a large proportion of employees in recent years, particularly Gen Z and Millennials.   Offering environmentally conscious benefits, like EV schemes, helps promote a sustainable culture that aligns with employee’s values. As an added benefit, it also supports corporate social responsibility (CSR) goals.

About Un:Fade Employee Benefits Consulting

Specialists in seamless employee benefits, payroll and fintech solutions consulting. Helping you stand out as an EMPLOYER OF CHOICE by examining your benefits program to ensure cost-effectiveness, and alignment with employee and business goals