Some quick steps to help you get started
When it comes to employee benefits, wellbeing and an emphasis on diversity, equity and inclusion (DEI) have been top priorities for employers despite the recent years of tumult. But for many employers, especially if they have operations in many countries or diverse work populations, where to start can be a daunting prospect.
Below, we highlight four ways that organisations can take some quick actions to start down the path of a more effective wellbeing strategy.
4 ways to get started on the road to effective benefit programs
Nearly 40% of employers in Asia Pacific are planning or considering conducting a DEI benefits review by 20261. Companies that are highly effective at wellbeing plan to conduct a DEI benefits review, including a review of communication to align with DEI strategy.
A truly holistic wellbeing strategy, and one that’s relevant to a diverse workforce, will have different levers to pull. Some employees will look for support around their financial wellbeing, while others will place more of an emphasis on mental health. Conducting a vendor strategy review and help to avoid engaging many fragmented vendors, which can be simultaneously costly and ineffective.
Almost two in five employees in Asia Pacific say that they are facing major or moderate issues with their financial wellbeing; and over half want their employers to help them with this area2. However, only 18% of employers in Asia Pacific are prioritizing financial wellbeing over the next three years. Addressing these gaps is critical to ensuring employee engagement and it doesn’t always have to be complex.
More than 50% of employers are offering parental leave more than statutory requirement, while approximately another 20% are planning or considering doing so1. Reviewing leave policies can be a quick way to support employees thrive at work as well as enhancing company branding.
While you may be wondering where to start, WTW has created 2 complimentary report with useful insights into market practices as a value add. Please click here to register your interest and a consultant will reach out for a follow-up.
Sources
1 2024 Wellbeing Diagnostic Survey — Asia Pacific
2 2024 Global Benefits Attitudes Survey
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Benefits have become a crucial factor for employees in deciding whether to join or stay with an organisation.
Some quick steps to help you get started
When it comes to employee benefits, wellbeing and an emphasis on diversity, equity and inclusion (DEI) have been top priorities for employers despite the recent years of tumult. But for many employers, especially if they have operations in many countries or diverse work populations, where to start can be a daunting prospect.
While you may be wondering where to start, WTW has created two complimentary reports with useful insights into market practices. Please click here to register your interest and a consultant will reach out for a follow-up.
Below, we highlight four ways that organisations can take some quick actions to start down the path of a more effective wellbeing strategy.
4 ways to get started on the road to effective benefit programs
- Connect to Diversity, Equity and Inclusive DEI
Nearly 40% of employers in Asia Pacific are planning or considering conducting a DEI benefits review by 20261. Companies that are highly effective at wellbeing plan to conduct a DEI benefits review, including a review of communication to align with DEI strategy.
- Optimise your vendor strategy
A truly holistic wellbeing strategy, and one that’s relevant to a diverse workforce, will have different levers to pull. Some employees will look for support around their financial wellbeing, while others will place more of an emphasis on mental health. Conducting a vendor strategy review and help to avoid engaging many fragmented vendors, which can be simultaneously costly and ineffective.
- Address the current gaps in financial wellbeing
Almost two in five employees in Asia Pacific say that they are facing major or moderate issues with their financial wellbeing; and over half want their employers to help them with this area2. However, only 18% of employers in Asia Pacific are prioritizing financial wellbeing over the next three years. Addressing these gaps is critical to ensuring employee engagement and it doesn’t always have to be complex.
- Conduct an employee leave policy review
More than 50% of employers are offering parental leave more than statutory requirement, while approximately another 20% are planning or considering doing so1. Reviewing leave policies can be a quick way to support employees thrive at work as well as enhancing company branding.
Sources
1 2024 Wellbeing Diagnostic Survey — Asia Pacific
2 2024 Global Benefits Attitudes Survey