Employers want help supporting wellness efforts

April 28, 2021 2:26 PM

Addressing employee well-being continues to be a major topic of conversation for HR and benefits pros more than a year into the pandemic.

Employers are rolling out benefits that address concerns around retirement planning, financial wellness, mental health support and more. Industry experts shared their insight into these topics in Employee Benefit News’ top Views pieces from April.

Our most-read commentary explored the shocking disparities around addressing financial well-being and how tools like earned wage access could help provide a solid footing for struggling workers. These HR leaders also explored the ways technology can be a pivotal resource to engage and support employees in all areas of their lives.

See our most-read Views pieces and contribute to our column:

Want or need to retire early? Here’s how to pay for it

Delaying retirement has become common for many Americans, either because they saved too little or they just want to continue working because they enjoy it. Others go in the opposite direction. They retire early — sometimes out of choice but often because their health or the economy forces it.

While early retirement might sound appealing, it can be a struggle for those who don’t have sufficient income to pay their bills. That is why if you are weighing the pros and cons of early retirement, you need to get a good handle on your potential sources of income.

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Want or need to retire early? Here's how to pay for it

Employees and employers disagree about financial wellness

Too many Americans are facing a bleak financial outlook. With 40% of households reporting declines in income over the past year and unemployment spiking, many are choosing between necessary medical care and feeding their families.

According to a study of more than 1,250 hourly and salaried workers, as well as 200 CEOs and HR leaders, employers may not have a clear, complete view of the impact of financial stress on their employees. The biggest gap revealed by the data was in how employers and employees rated the perceived financial wellness of employees. The majority of employers (87%) rated their employees’ financial wellness as good to excellent, while the majority of workers rated their financial wellness as average to good.

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Employees and employers disagree about financial wellness

Strategies for improving the employee experience and successfully adapting to work now

The seismic impacts of the global pandemic required organizations to rapidly adapt to the changing nature of work. Pandemic-driven shifts in working norms, including remote working and an emphasis on employee health and safety, will continue to shape the future of work in 2021 and beyond. Organizations navigating new working norms must evolve workplace strategies to help employees stay healthy, engaged and productive.

Moving into 2021, companies are taking a more holistic approach to the employee experience, embracing strategies geared toward improving employee well-being and boosting their engagement. This work is not easy but will be necessary if organizations are going to adjust in a post-COVID-19 era. Now more than ever companies must embrace the notion that caring for employees' wellness can pay off when it comes to their bottom line.

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Strategies for improving the employee experience and successfully adapting to work now

A valuable wellness program must change the employee experience

Employee well-being matters; every HR person has an inbox full of offers for mediation apps and other services to improve the mental health of their workforce. But apps alone won’t move the needle on mental health.

Our work relationships provide support for the challenges we have in our lives and accountability partners for staying healthy. But the visibility into each other’s lives has shifted to short digital encounters where it’s easy to put on a brave face. However, these digital relationships provide a richness of information that allows us to implement data-driven employee mental wellness policies and tactics. We can now better link them to meaningful

outcomes such as lower productivity, increased absenteeism and higher turnover rates.

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A valuable wellness program must change the employee experience

Balancing the pros and cons of telehealth

Telemedicine — and more broadly telehealth — has changed the healthcare delivery system and this change will not be reversed just because in-person medical care will be more accessible post-pandemic. Telehealth can provide high-quality, high-value care, but the last year has also demonstrated that not all services are up to par, nor is telehealth the best platform to provide or receive care in all instances.

It is important that employers and benefits consultants discriminate between appropriate and inappropriate use, as well as understand how current trends will affect the utilization and value of telehealth moving forward.

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Balancing the pros and cons of telehealth