4 key lessons for HR from the latest HR and employee benefits research

Recently we pulled together insights from some of the HR industry’s most important research into one article to give us an idea of how the world of work is looking, covering a range of topics, including financial wellbeing, health and wellbeing and recruitment and retention.

They also reveal some interesting insights as to how world events like COVID-19 have changed the world of work for employees.

In this article we’re highlighting some of the main lessons that have come from this research.

Healthier employees are more likely to stay 

One of the HR statistics articles we recently published is centred around the health and wellbeing of employees. 

According to research by MetLife, healthy employees are 51% more likely to say they intend to be at their organisation in 12 months’ time.

A statistic like this, whilst simplified, proves the importance of providing support for your employees to look after their health and wellbeing.

Luckily, 84% of employers say that improving the overall health of employees in the workplace is a top benefits objective.

There is a lot you can do to help your employees with their health and wellbeing from the day-to-day set up of their job, talking to employees about their needs and using your employee benefits packages to provide the right support for them.

Employees are asking for more

Another hr statistics article we published focused on recruitment and retention.

Research by Aviva shows that 65% of employees are now hoping to make changes to their careers. The types of changes range from reduced hours, to moving roles within an organisation, to choosing a completely different career path.

This wasn’t the only statistic though that indicated that employees are looking for more change and flexibility in their work. Many say that they were likely to look elsewhere should their needs not be met by their employer.

It’s clear from the research that employees are demanding more from their employers and that employers need to match this with the support that they give employees. 

Financial wellbeing

Although your employees come in to work with a job to do, they are people with personal lives and problems that they have to solve.

Currently something that is on everyone’s minds is the cost-of-living crisis.  Much of the research we found looked at financial wellbeing and the ways that employees would like their employers to support them.

Research by CIPD found that if their employers have a financial wellbeing policy in place then 76% of employees report feeling in control of their finances, in contrast to 64% if there is no such policy.

This research helps to show that there is a connection between an employee being supported by their employer and the employee having a good level of financial wellbeing.

With previous research showing that supporting employees with their problems can help retain them, helping with financial wellbeing could be a real opportunity to improve your employer to employee relationship.

Communicating about your employee benefits is key 

As an employee benefits provider, we are well versed in the ways that providing the right benefits package can have a positive impact on your employees.

We also know that a part of creating a useful employee benefits package comes with communicating the employee benefits that are available to your employees and how they can help support them.

According to research conducted by MetLife, 24% say that their benefits communications do not clarify which benefits are available and 28% say that benefits communications do not clarify which benefits are right for them.

The frequency of your employee benefits communications is important but what’s also important is the content of these communications.

Making sure that communications about your employee benefits make it clear how employees can use their employee benefits, the positive impact each benefit scheme can have and the basic set up of each scheme can help to optimise the use of your employee benefits and give your employees the best chance to get the most out of them.

Ensuring that you are providing the best support for your employees with your employee benefits package is key to supporting your company’s retention and employee satisfaction levels.