A critical priority for many companies
The employee benefits landscape has undergone significant shifts, reflecting broader societal changes and emerging priorities.
From addressing the global well-being crisis to catering to the unique needs of Millennial employees, organisations are reevaluating their strategies to support the mental and physical health of their workforce.
FAnews spoke to Nzwa Shoniwa, Managing Executive at Sanlam Umbrella Solutions, about these trends and shifts.
Trends and shifts
Employee well-being, according to Shoniwa, remains a critical priority for many companies. He noted, “We’ve discovered that the rising absenteeism trend among employees is often attributed to mental health issues such as stress, depression, and anxiety.”
Despite increasing awareness, Shoniwa emphasised that many individuals still hesitate to seek mental health support due to various reasons, including mental health stigma, limited access to services, cultural beliefs, and lack of awareness. However, societal attitudes towards mental health are evolving, and efforts by both providers and employers are being made to address these barriers.
He further highlighted the evolving nature of employees; especially as newer generations enter the workforce. “Gen Z could account for 27% of the working population by 2025. These younger generations are much more attuned to their mental health with almost 20% of Gen Z and 13% of Millennials consulting a mental health professional at least three times annually.”
He mentioned that we might see a continued shift towards destigmatising mental health issues, fostering open discussions, and implementing more supportive workplace programs in 2024.
Engaging individuals more effectively
The integration of innovative approaches like gamification into wellness programs is being explored as a means to disrupt traditional insurer offerings. According to Shoniwa, gamification has shown promise in assisting wellness programs by engaging individuals more effectively in their health journey.
“By integrating game-like elements such as challenges, rewards, and progress tracking into wellness programs, it could encourage participation and sustained engagement. It can make mundane tasks like exercising or maintaining a balanced diet more enjoyable by adding elements of competition, achievements, or social interaction. One should, however, be cautious that it does not become similar to the smartwatch revolution that is only actively used by a small percentage of people,” he said.
“As with gamification, other technological innovations might play a significant role such as online therapy options, and digital platforms offering accessible resources for stress relief and mental wellness. While efforts are being made to improve mental health support, external factors like economic pressure, societal pressure, and global events can continue to impact stress levels,” he added.
Navigating the complexities
“Many companies have implemented programs and policies aimed at supporting employee wellness. However, the effectiveness of these initiatives can vary due to the fact that employee wellness is often not offered as an integrated employee benefit. As highlighted in the Sanlam Benchmark, it is also concerning that employees do not always take advantage of the value these corporate wellness services provide, particularly in terms of preventative care and early detection,” he said.
“Understanding employee benefits can also be a challenge for many individuals. Several factors such as complexity, limited communication, lack of interest or time, and generational differences might contribute to these challenges. Employers and providers are increasingly recognising the importance of simplifying and improving communication about benefits. Efforts are being made to provide clearer, more accessible information through online portals, interactive tools, and educational resources,” he continued.
“As we navigate these complexities, intermediaries and advisers play a crucial role in guiding organisations towards holistic and sustainable solutions that prioritize the well-being of their employees,” he concluded."
Writer’s Thoughts
The growing focus on mental health and technological innovation offers a unique opportunity to redefine how support is offered for workforce well-being. Embracing these changes can transform benefits from a basic offering into a powerful tool for enhancing employee engagement and satisfaction. Do you agree? Please comment below, interact with us on Twitter at @fanews_online or email me your thoughts [email protected].
