Employers are facing numerous sources of uncertainty and volatility. Inflation, fears of a recession, and workforce erosion are just a few things weighing on organizations. With those challenges, it would be reasonable to think that employee wellbeing could decrease in importance and priority.
However, the opposite is happening. According to Aon’s 2022-2023 Global Wellbeing Survey, organizations are increasingly investing in the wellbeing of their employees, and wellbeing continues to be a focus.
While 87 percent of organizations have at least one wellbeing initiative, 83 percent have a wellbeing strategy. That’s up by more than 25 percentage points since 2020, when many companies were scrambling to take care of employee wellbeing in the early stages of the pandemic. Just as importantly, 41 percent of organizations said they had a wellbeing strategy that was fully integrated into their overall business strategy.
Integrating Wellbeing into a Company’s DNA
It’s simple for organizations to say that wellbeing is important and a priority. But how they are supporting wellbeing and integrating it into their business strategy and company culture shows their commitment.
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As a part of their wellbeing strategy, more than 80 percent of organizations included elements of their Diversity, Equity and Inclusion (DE&I); Environmental, Social and Governance (ESG); Health and Safety, and Total Rewards programs.
Whether it’s an organization tying improved employee wellbeing to meeting its climate objectives as a part of its ESG initiative or ensuring culturally competent healthcare as a DE&I measure, integrating wellbeing with other parts of the company makes sense.
Current Offerings and Opportunities in Wellbeing
As the way we’ve come to understand wellbeing evolves, there’s a growing recognition of the importance and interconnected nature of the dimensions of individual wellbeing – Physical, Emotional, Financial, Social and Work Life. Mental health and emotional wellbeing continue to be the top wellbeing issue identified, but in other dimensions, there is something of a mismatch between what organizations note as issues and the initiatives they offer to address them.
Wellbeing is as important to organizations as ever, and its priority is increasing, even in volatile conditions. How an organization prioritizes and integrates wellbeing as a part of its business strategy can have a profound impact on employee engagement, talent acquisition and retention, and overall business results.
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