More than one in two UK organisations plan to review their compensation and benefits programmes to strengthen diversity, equity and inclusion (DEI) initiatives according to a new survey.
The research by Aon found 52 per cent of companies were planning to, or already reviewing these programmes, while three out of four organisations say fostering DE&I is a priority for the future.
However, Aon points out that more organisations need to consider DE&I when planning benefits and reviewing these existing benefit programmes to ensure they meet the needs of all employees.
Aon’s recent Diversity, Equity and Inclusion in the Workplace paper highlighted the needs of different individuals when planning benefits and initiatives. This includes looking at a range of issues, from investment options within pensions that align with Shariah law, to whether whether those with disabilities or other health problems may be excluded from health benefits.
Aon’s principal health solutions EMEA Avneet Kaur says: “One of the initial steps on the journey to inclusive health and wellbeing benefit design is to take stock of the current situation, and ask questions like: What is the composition of your current workforce? How does DE&I align with your business vision and purpose?
“It’s important to review your health and wellbeing benefits to ensure the diverse needs of your employees are supported, while creating a consistent employee experience.
“Also, review recruitment, mobility and career progression policies and procedures. For instance, do they display any systemic biases or inhibitory processes? By establishing and maintaining good diversity and inclusion practices, companies will be better able to build a resilient workforce with DE&I crucial in both attracting and retaining talent and key stakeholders.”
Matthew Lawrence, chief broking officer, Health Solutions EMEA Aon, adds: “DE&I should be a key component of an organisation’s Environmental, Social and Governance (ESG) agenda; we fully anticipate factors such as employee welfare and mental wellbeing to become as important to investors as other areas such as board diversity and pay equity.
“As ever in an increasingly interconnected world, what happens in the HR and benefits world impacts risk managers and certain general insurances. Thinking about these issues and the impact they can have in the broadest possible way will lay the foundation for a positive long-term impact.”
This research was part of Aon’s seventh Pulse survey. This sought information from 400 HR leaders and in the UK and 1,451 HR professionals globally.
