Towergate Insurance, one of our sponsors, provides an insight into health and wellbeing support as one of the major factors in the recruitment and retention of talent.
In a significant survey* of 500 decision makers in the UK, undertaken for our sister company Towergate Health & Protection, 42% stated their support for the health and wellbeing of staff is a key reason people stay with their employers. In addition, 31% said health and wellbeing support is a key reason people choose to work for them.
The research supports our anecdotal evidence of the wider reaches of health and wellbeing support, and why it is so important that employers have a clear and well-communicated strategy. The wider the health and wellbeing support offered, the better the array of talent it will attract and retain.
On the flipside, nearly one in five (18%) employers stated that not offering enough health and wellbeing support impacts their ability to recruit and retain people: a stark warning for all.
Health and Wellbeing
Support for health in general was viewed by 42% of employers to have increased the most in importance for enhancing the recruitment and retention of talent. 26% percent of employers said support for mental health had increased most in importance, and 19% said it was the overall health and wellbeing package that had grown most in terms of priorities.
Social interaction through work (11%), communication of support offered (9%), support for financial health (9%), and an environmental, social and governance (ESG) strategy (8%), were also identified as increasing in importance. So, the support offered needs to be wide and holistic.
Implementing a Strong Health and Wellbeing Programme
According to the survey results, and evidence seen by Towergate Health & Protection across its client base, implementing a strong health and wellbeing programme is vital in the recruitment and retention of talent. Moreover, the programme must be widely communicated to employees and easily accessed and managed by employees and employers alike if it is really going to make a difference.
The Four Pillars of Health and Wellbeing
A strong programme must support all four pillars of health and wellbeing: emotional, physical, financial, and social health - to add the most value to recruitment and retention.
Research shows that all four are not only important in keep existing employees healthy, and to retain their loyalty, but also to attract new employees.
Employees’ needs and demands have shifted dramatically since before the pandemic struck.
We have all had a realignment of priorities, and employers need to match these if they are to attract and retain the best staff, which is only going to become more important.
*Research conducted by Opinium on behalf of Towergate Health & Protection. Sample: 500 UK HR decision makers. Field dates: 28 January to 7 February 2022.
To find out how Towergate could assist your school in finding the right employee benefits for your staff, contact Adrian Henley.
Towergate Insurance, is a trading name of Advisory Insurance Brokers Limited. Registered in England Company No. 4043759, Registered Office: 2 Minster Court, Mincing Lane, London, EC3R 7PD. Authorised and regulated by the Financial Conduct Authority. This can be checked on the FCA’s register by checking the FCA website at www.fca.org.uk/register or by contacting them on 0800 111 6768.
Towergate Health & Protection, a trading name of Health and Protection Solutions Limited, is an independent intermediary, authorised and regulated by the Financial Conduct Authority (FCA). This can be checked on the FCA’s website or by calling them on 0800 111 6768 (freephone). Not all products and services offered are regulated by the FCA. Registered in England and Wales No: 4907859. Registered office: West Park House, 23 Cumberland Place, Southampton, SO15 2BB.