Generali UK Survey on Wellness
New research from Generali UK Employee Benefits reveals the biggest hurdle for global employee wellbeing.
Achieving a fit for purpose, cost efficient and consistent employee wellbeing strategy across multiple jurisdictions is no mean feat. And in spite of improved technology and product innovation, for most it’s not getting any easier.
To gain an insight into why, what would help, and what other multinationals are doing, take a look at new research from HR Grapevine and Generali UK.
This report represents a detailed study of 415 multinational organisations from a wide variety of industry sectors and headquartered in the UK or Ireland. Over two thirds (64%) of HR respondents are from mid to large companies with over 10,000 employees and subsidiaries in at least two countries.
Who’s doing what?
The research reveals that while around half have a budget for wellbeing, the other half don’t. Some are thinking along strategic lines, others are just reacting to problems as they arise. A minority simply don’t have the time or resource to do anything.
Furthermore, the top 5 health and wellbeing problem areas for UK and Ireland based multinationals are highlighted, along with what benefits are provided, to what percentage of the workforce, which are managed from head office, and how they are communicated.
…And the outcome?
According to the findings, two fifths (42%) expect recruitment and retention to get worse if they continue doing what they are doing with regards to benefits.
At the same time, only just under half (46%) say that intermediaries have an influence in helping them identify and establish employee needs. And meetings with providers to help in this regard are utilised even less.
What’s more, the majority aren’t using multinational pooling arrangements, but for reasons of being unfamiliar with the concept, as opposed to it not being relevant and potentially advantageous for their shape and size of company.
Simon Thomas, Director – UK Employee Benefits, Generali, commented: “This report shines a light on the reality of global employee wellbeing. For all the rhetoric in the media about the benefit of wellbeing to individuals and to business, the reality is that it’s just not being realised by most. And it’s unlikely that it ever will unless employers, intermediaries and providers start collaborating in a much closer, transparent and trusting way.”