Employee stress is a “critical” issue for talent attraction and retention. That’s according to the 2023 Health on Demand Report that Mercer Marsh Benefits released April 13. Mercer Marsh Benefits is a health and benefits consultancy and a business of Marsh McLennan. The 2023 Health on Demand report surveyed more than 17,500 employees in 16 […]
Employee stress is a “critical” issue for talent attraction and retention.
That’s according to the 2023 Health on Demand Report that Mercer Marsh Benefits released April 13. Mercer Marsh Benefits is a health and benefits consultancy and a business of Marsh McLennan.
The 2023 Health on Demand report surveyed more than 17,500 employees in 16 markets across the globe about their priorities for health and well-being, “highlighting the voice of the employee so employers can better address their needs.”
The survey found almost half of all employees (47 percent) report feeling stressed in everyday life. When asked what factors put them at risk for burnout at work, the top three were work pressures (54 percent), poor leadership (39 percent), and toxic culture (37 percent).
Addressing employee stress and burnout starts with addressing psychological safety in the workplace, Mercer Marsh Benefits noted.
Only 58 percent of employees agreed or strongly agreed that they feel free to speak their mind without fear of negative consequences. Leading employers are tackling the underlying causes of workplace stress as part of a “comprehensive and inclusive” benefits strategy.
It includes reviewing job design and supervisor competencies, creating a culture of belonging and inclusive decision making, and offering benefits such as reduced cost mental-health treatment and virtual counseling.
Nearly 70 percent of employees globally believe their organization would support them in an emergency or time of need, the report found.
Beyond work stressors, 21 percent of employees are concerned about affording health care, with women (26 percent), and single mothers in particular (32 percent), significantly more likely to lack confidence that they can afford needed health care than men (18 percent).
Employers are in a “unique and critical” position to address health care gaps by exploring benefits and employee-experience strategies that balance human and digital health delivery and respond to the “different needs of a diverse workforce,” per the report.
Additionally, the findings indicate that employees who believe their company cares about their health and well-being are much more likely to be “thriving,” or feeling positive about their health, wealth, and careers. The findings also indicate a positive correlation between higher levels of benefits and employee satisfaction.
In fact, employees who receive 10 or more benefits are more likely to believe their employer cares about their health and well-being, are less likely to move to a different employer, and are more confident that they can afford the healthcare their family needs.
Hervé Balzano, president, health, Mercer & global leader, Mercer Marsh Benefits highlighted the importance of offering a wide range of benefits.
“In recent years, employees’ health and well-being have been put under pressure by multiple crises — ranging from economic and geopolitical conflicts to the global pandemic,” Balzano said. “Our research shows how these challenges, along with multiple pressure points facing healthcare systems, have brought to light significant gaps in protection for workforces. This is particularly true among groups such as low-paid workers, caregivers, and women.”
Balzano went on to say, “The findings from Health on Demand clearly show that by providing comprehensive benefits, employers can address these risks, protect their employees and ultimately create a foundation for them to thrive at work and beyond.”