80% Of Corporates Are Prioritising Holistic Employee Wellness
A recent study conducted by Advantage Club reveals that companies are focusing more on employee wellness due to a steep rise in the hybrid working mode
Advantage Club, a global employee benefits provider, has identified a significant trend of organisations now focusing on holistic employee wellness because of major changes in the working environment in a post-pandemic world. As many employees now prefer a hybrid working model the traditional approach to employee engagement and wellness needs a fresh approach.
As the industry changes to a hybrid working model, Advantage Club’s recent study highlights that about 80% of the organisations believe that employee well-being will be a crucial component in employee performance and retention. Despite this, just 12% of these are willing to commit to the issue, demonstrating that there is still more work to be done. Organisations are expected to meet challenges in providing leadership training, streamlining communications, implementing comprehensive employee experience programs (rewards and recognition, benefits/perks, and financial well-being), and adjusting to changes due to the shift to hybrid work culture.
Commenting on the report's release, Sourabh Deorah, Co-Founder & CEO said “Post the pandemic, we are witnessing a lot of change across industries. Mckinsey’s survey<https://www.mckinsey.com/business-functions/people-and-organizational-performance/our-insights/what-executives-are-saying-about-the-future-of-hybrid-work> also pointed out that 9 out of 10 organisations will be blending remote and onsite working as a new norm from the beginning of 2022. Although a hybrid work environment has its fair share of challenges, a greater effort is required to meet employees' expectations and keep them engaged for the long term. Employees - the DNA of any organisation have now changed priorities and preferences. Investing in robust employee wellness and engagement programs can thus help in attracting and retaining talent. Employee wellness certainly has a far-reaching impact on an organisation’s success in future.”
Compared to last year, there is a 70% increase in companies looking for effective rewards and recognition programs to strengthen their overall employee wellness. Advantage club onboarded 400 clients in the last financial year which depicts the increasing needs of the organisations to opt for holistic employee wellness program. Advantage club’s rewards & recognition solution has the highest demand with a minimum 80% of clients deploying the same, closely followed by perks, communities, EWA, tax savings, and other flexible benefits.
In a post-pandemic era, employee engagement is quickly becoming a priority for many organisations as it has proven to influence productivity and overall employee experience at the workplace positively. Advantage Club’s other solutions/benefits are also gaining traction, including community features like hobby clubs and classifieds.
