Employee Wellbeing Holds More Weight For Job Applicants

The Bureau of Labor Statistics shows that 3.4% of workers left their jobs in November of 2021, compared to the 2.7% from the same time a year ago. 

This indicates that the Great Resignation continues to impact the workforce, and as we enter 2022, will alter how businesses attract new talent and retain their current employees. 

Companies have dabbled in new methods to bring on workers, such as offering more pay. However, research from Paychex and Future Workplace showed that wellbeing benefits have more weight when applicants are searching for new jobs. 

In fact, 62% of employees stated that wellbeing was a key factor when applying for a new job, particularly among younger professionals.  

However, while half of overall employees felt their employer supported their wellbeing, just 30% of Boomers felt this way, compared to 48% of Gen X, 50% of Millennials, and 55% of Gen Z. 

When it comes to the specifics of wellbeing, around one-third of employees said that financial wellness is where they struggle the most, including compensation, retirement, access to financial wellness, and education.  

Additionally, nearly one-quarter stated that mental wellbeing was their biggest area of concern. 

Respondents added that mental health support, better staffing, improved health insurance, and financial wellness training could help address these disparities and improve overall employee wellbeing.