Mumbai: Wellness at workplace is a critical factor for keeping employees engaged and committed. It is a fact that India suffers a tremendous loss of productivity due to growing health concerns, especially lifestyle diseases. Both employees and employers have echoed that heart disease and stress are top health concerns in workplace. As per Metlife Employee Benefits study, 38% of employees and 42% employers in India attributed heart disease as the top health concern in the workplace. After heart disease, stress is the next concern factor for both employees (32%) and employers (41%).
The report revealed that 93% of employers with a wellness programmes confirmed that wellness benefits have a positive impact on the health of participating employees. Stress, the availability of processed foods, more sedentary lifestyles and global competitiveness combine to harm employee health and ability to work. Metlife study also mentioned that a large portion of employees shared the view that work-life balance and flexibility in working conditions motivate them and help them to beat stress at workplace.
Analysing the effectiveness of voluntary benefits of employees, the report found that voluntary benefits offer win-win opportunities for both HR managers and employees provided that voluntary benefits – a bigger range that are funded in part by employees. Employees are also happy with these products as they are able to personalize their benefits packages. Health Insurance is the top choice of voluntary benefits as rated by employees (71% part payment and 67% full payment). Life insurance the second most choice of voluntary benefits as rated by employees (66% part payment and 61% full payment). The other benefits opted by employees in the voluntary benefits category are Retirement/savings plans and full payment.
Wellness delivers huge benefits to both employees and their employers, as the employee satisfaction is correlated with productivity. Also wellness programmes are an effective employer branding tool that creates a much bigger opportunity for employers to differentiate themselves from other employers. The study highlighted that employees participating in wellness programmes show higher job satisfaction and loyalty. Among employees participating in wellness programs, 64% said they are satisfied with the job while among employees not participating in wellness programs, only 44% are satisfied with the job. Similarly, among employees participating in wellness programs, 67% said they feel loyal to their employers while among employees not participating in wellness programs, only 37% feel they are loyal to their employers.
The Metlife Employee Benefits study concluded that workplace health and wellbeing need to be addressed to avoid rising demands on skilled workers worsening their stress levels. Financial planning and wellness programs will improve employees’ perceptions of their physical, emotional and financial health. Employers should focus on voluntary benefits that work well across the board and especially for top management.
