Almost six in ten employers say their health and wellbeing strategies are helping them deliver on the ‘social’ element of their ESG policies, according to new research from Grid.
According to Grid, over half, or 55 per cent, say the benefits they have put in place promote equity across their workforce, while two in five or 40 per cent, extend these policies to employees’ family members to widen their impact. More than a third, or 35 per cent, report that by investing in staff health and wellbeing, they are also easing the burden on state services.
The ESG focus is also influencing the partnerships employers choose to form. Almost two-thirds or 63 per cent say it is important to work with providers that have a strong ESG stance, while 70 per cent believe their employees expect benefits partners to show a clear ESG commitment.
But a robust social policy cannot be achieved if health and wellbeing support is limited to senior roles or specific pay bands. Physical, mental and financial wellbeing challenges affect staff at all levels, and equitable provision is an important part of any credible ESG strategy.
The group risk market has long supported these aims, providing a cost-effective way to offer protection and assistance to all employees. Alongside core financial cover, many products include services such as Employee Assistance Programmes, mental health support and rehabilitation pathways, helping employers meet their social responsibilities and duty of care.
Grid spokesperson Katharine Moxham says: “The social pillar of ESG is often seen as the hardest to deliver, as it can be less tangible, harder to measure, and lacks the same level of data and regulation as environmental or governance factors. It’s encouraging to see that so many employers are proving it can be achieved – by showing, in practical ways, that their people truly matter.
“Our research shows that ESG is not just a compliance requirement – it’s central to the values of organisations and their employees. For insurers and employee benefits consultants, this represents a strategic opportunity, as businesses increasingly recognise that ESG goes beyond regulation, and directly shapes reputation and how they are perceived.
“It matters not whether health and wellbeing support was in place first and helped organisations meet their ESG targets, or whether ESG commitments drove the introduction of stronger wellbeing measures, the outcome is the same: better support for employees. Promoting inclusive, health-positive workplaces benefits everyone – the organisation, its people, and wider society.”