Just two-fifths (39%) of HR decision-makers believe their current wellbeing strategy adequately meets the needs of their workforce, according to research by benefits consultancy PIB Employee Benefits.
Its survey of 1,000 senior HR decision-makers also found that just under half (49%) of large corporate respondents with more than 250 employees believe their wellbeing strategy meets employee needs.
One-third (34%) feel they have a proactive and strategic approach to wellbeing, whereas 38% do not have time for a wellbeing programme and 14% agree they have a well-defined wellbeing strategy. Conversely, 34% said they do not have any wellbeing strategy and do not know where to start.
Two-fifths (40%) of respondents cited financial constraints as a key challenge in implementing comprehensive wellbeing programmes. If budget was no issue, 52% would support mental and emotional health, including stress and burnout, 44% would support physical health issues such as exercise and nutrition, and 36% would introduce initiatives with a more proactive focus on the prevention of ill health.
One-quarter of respondents do not use data to measure wellbeing effectiveness, while 46% do not have accurate data to drive decisions.
Only 10% of small-to-medium enterprises (SMEs) they have a robust wellbeing strategy in comparison to 22% of large corporates. Just 7% of large corporates do not take a strategic approach to wellbeing, whereas this rises to a fifth among SMEs.
Suzanne Summerfield, wellbeing consultant at PIB Employee Benefits, said: “Understanding the current landscape of workplace wellbeing is crucial for organisations aiming to support their employees effectively. Our report not only highlights the existing challenges but also makes a strong case for using a data-driven approach to decision making to support wellbeing strategy and investment.”
