Health and wellbeing support is a major factor in the recruitment and retention of talent. In a significant survey of 500 HR decision makers in the UK, undertaken for Towergate Health & Protection, 42% stated their support for the health and wellbeing of staff is a key reason people stay with the company.
In addition, 31% said health and wellbeing support is a key reason people choose to work for them.Debra Clark, head of specialist consulting, Towergate Health & Protection, says: “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.
Debra adds: “With many IFA’s now working from home or in a hybrid model, it is essential that the health and wellbeing support provided for them is holistic and well communicated. The loss of the more traditional office environment for sharing information is something that must be considered by employers. While they may be offering full health and wellbeing support, being able to communicate it effectively could make the difference in attracting the right people to the business and, vitally, retaining them.
“Different working environments will present IFAs with different wellbeing challenges and so it is vital that a business understands what these might be and how they can help their staff to keep ‘well’ in all 4 of the pillars of wellbeing. Two-way communication is important here. Employers should be regularly asking their IFAs about their changing needs so that the wellbeing support can be adapted to match these requirements. Both the business and its IFAs will benefit from this approach.”
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. Twenty-six 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. The 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.Debra Clark says: “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.”