Can Staff Benefit Schemes do more to Reduce Stress?June 30, 2022
Categorised in: Employee Benefits
Gallup’s State of the Global Workplace report for 2022 was recently revealed, highlighting that it has been another mixed year for employees.
The key findings were that engagement with work is largely stagnant, whilst employee stress is at an all-time high around the world. Whilst much of this has been put down to post-pandemic life, there is a concern that Employee Benefit Schemes and Payroll Services could both be doing more to help.
According to Gallup, staff engagement and wellbeing rates were rising globally before the pandemic. In 2022, however, indicators for both have stagnated at significantly low levels. Just 21% of employees agreed that they were engaged with work, whilst only a third believed their overall wellbeing was thriving.
Meanwhile, the report also concluded that global stress levels for workers were higher than in 2020, when the previous record was set. Almost half of employees said they felt burdened with concerns about work on a regular basis, which is likely to increase demand for Stress Management Solutions.
Benefit and Payroll Services: Are they doing enough?
Establishing a comprehensive system of support services has long been essential to making employees feel valued. In recent years, however, expectations have risen on what companies should offer their staff to improve Employee Wellbeing.
As this latest Gallup report has revealed, external factors have increased the need for urgent improvements in how companies support employee work:life balance. Given that so far in 2022 we’ve seen more issues emerge, such as the renewal of Doomscrolling and worries about the Cost of Living Crisis, help from employers will be more important than ever.
So, companies will have to adapt if they are to adequately respond to record-high stress levels and Employee Engagement stagnation. Enhancing employee benefits, increasing support for mental health services, and streamlining payroll can all help with this, as they are crucial if your business is to Attract & Retain the Best Talent.
How do you improve Employee Benefit Schemes?
This is where the Hive360 Engage App comes in. We understand how important it is to support your team’s wellbeing, so our employee app comes as standard with any of our Payroll & Pension Administration Solutions. This means that you can get access to the largest employer discount scheme in the world, our Employee Training Platform, physical and mental health support, and much more.
You can significantly enhance your employee benefits scheme for just £4.98 per worker per month and get an all-new and fully secure payroll service.