Employers says wellbeing support is now more important to recruitment and retention — with potential employees more likely to ask about the support offered.
Around 34 per cent of employers said that interest in the overall benefits package had increased/ Meanwhile 40 per cent of employers said would-be employees were more interested in higher salaries than before — only a marginally higher figure.
Towergate Health & Protection head of wellbeing Debra Clark says: “The research confirms something of which we have long since been aware: that salary alone is no longer enough to attract and retain the best talent. Health and wellbeing support is now a key driver when people are choosing their employer.”
The research shows that employers are finding recruitment and retention more difficult, with 31 per cent stating they now find it harder to attract talent, and 28 per cent saying it is harder to hold on to talent.
The significance of health and wellbeing support being offered is made clear by 38 per cent of employers who state it is a key reason for people choosing to work for them, and 36 per cent of employers who state it is a key reason people choose to stay with the company.
Clark adds: “We would encourage employers to take every opportunity to promote their benefits at recruitment stage, from job adverts and interview, to induction. There is no point in having benefits if no-one knows they exist.”
In terms of the specific support being offered, 21 per cent of employers felt the overall health and wellbeing package offered had recently increased in importance as a deciding factor in choosing which company to work for; 20 per cent stated support for mental health had increased in importance for potential employees, and 13 per cent cited support for financial health helped with recruitment.
For some employers, it was the company’s wider support that was important, with 10 per cent stating that having an environmental, social and governance (ESG) strategy had grown most in importance over the last 12 months, in terms of enhancing recruitment and retention.
Interestingly, 28 per cent of employers who took part in the research said that it is becoming harder to engage with their employees. This is perhaps linked to the 10 per cent of employers who stated that the most important thing they have increased in the last 12 months in order to enhance the recruitment and retention of talent. is the communication of the health and wellbeing support they offer.
Clark adds: “In the post-pandemic working world, with hybrid working and a new focus on work/life balance, health and wellbeing support is more vital than ever in attracting the best talent from a range of demographics. It is interesting that 10 per cent of employers say that it is the communication of these benefits that has increased most in importance to help recruitment and retention.
“There is more to health and wellbeing than putting the support in place: employers must then make sure employees know about the support, and are engaged with it, if they want it to help with their recruitment and retention. Using digital platforms and issuing regular messaging can help ensure employees are aware of what is available and find it easy to access when they need it.”