The Workplace Culture Trends report for 2018 found that 86% of millennials would take a pay cut in order to work at a company that offers perks such as healthcare access, fitness facilities, parental leave and more.
This has made companies reevaluate how to attract and retain top talent. In fact, the International Foundation of Employee Benefit Plans report found that nine in ten companies now offer some form of wellness amenity. Additionally, over three in five have a “wellness budget” which is expected to grow by 7.8% in the next few years.
Moving forward, employee mental health will continue to drive wellbeing agendas as research has revealed the negative impact a lack of work-life balance has on employers and employees.
For example, the government body responsible for transport links in the UK capital, Transport for London, offers mental health support through counseling, trauma services and a helpline for employees.
To better attain work-life balance, companies have started experimenting with flexible options. In the past decade, 85% of businesses have introduced some sort of flexible work offering. However, some organizations are wary of adopting this policy as they believe it can have a negative impact on company culture.
Additionally, employers are anticipated to offer more financial wellness support in the future. ‘The Employer’s Guide to Financial Wellbeing 2019-2020’ from Salary Finance UK encouraged HR to offer financial wellness practices such as educational toolkits and debt relief plans.
