Global employers are increasingly prioritizing employees' social and financial wellbeing
- 73% of employers say employees' social wellbeing is an important priority over the next three years
Today
- 64% foster social connections virtually or in small groups through regular events
- 60% provide and communicate a diversity, equity, and inclusion (DEI) strategy
Other actions employers are taking to improve employees' social wellbeing
Action taken | Planning action for 2023 | Considering action for 2024 or 2025 | |
---|---|---|---|
Implement DEI initiatives | 59% | 18% | 7% |
Sponsor volunteer activities in local communities |
59% | 13% | 8% |
Include wellbeing as part of the organization's corporate social Responsibility strategy |
53% | 17% | 11% |
Match charitable contributions | 52% | 5% | 6% |
- 67% of employers say employees' financial wellbeing is an important priority over the next three years
- 21% of employers report that they are effective in driving desired wellbeing outcomes
- 38% of employers are concerned about poor financial wellbeing of their employees
Employees living paycheck to paycheck are less engaged (+1.8 days lost per year due to presenteeism) and 2x as likely to experience burnout, depression, anxiety or loneliness.
Today
- 47% offer an employer paid life and disability plan
- 37% provide financing or loans for education
Other actions employers are taking to improve employees' financial wellbeing
Action taken | Planning action for 2023 | Considering action for 2024 or 2025 | |
---|---|---|---|
Offer financial wellbeing webinars that educate on various financial issues employees face |
34% | 23% | 11% |
Access to employer sponsored savings products that allow employees to save directly from their pay |
25% | 6% | 9% |
Offer one-on-one financial counselling on short-term financial issue |
24% | 14% | 12% |
- 65% of employees say their retirement plan meets their needs, but 69% say they save less for retirement than they think they should*
- 49% of employees think financial apps should be a core part of their employer's benefits*
*Excludes U.S and Canada
Actions to take now!
- Regularly communicate with employees about the importance of their wellbeing, sense of belonging, and available resources
- Use employee listening strategies to identify the consistent and diverse needs of your specific population
- Build a social wellbeing strategy that connects stakeholders across your organization to form benefits, talent, DEI, and manager effectiveness
- Train managers to identify employees who may be feeling lonely, disconnected, or are actively withdrawing
- Identify and implement solutions to improve the financial health of employees
- For help in developing a wellbeing strategy or refreshing your current approach, contact WTW.
About the surveys: 35,549 employees participated in the 2022 Global Benefits and Attitudes Survey. 974 employers participated in the 2022 Global Wellbeing Diagnostic Survey (respondents employ three million workers).
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