Stress is critical issue for employees’ health and well-being

Almost half of all employees (47%) report feeling stressed in everyday life, according to Mercer Marsh Benefits, based on a survey of more than 17,500 employees in 16 markets across the globe about their priorities when it comes to health and well-being. The report, 2023 Health on Demand, said employee stress is a critical issue for talent attraction and retention. When asked what factors put them at risk for burnout at work, the top three were work pressures (54%), poor leadership (39%), and toxic culture (37%). Addressing employee stress and burnout starts with addressing psychological safety in the workplace, said Mercer Marsh Benefits. The survey found that only 58% of employees agreed or strongly agreed that they feel free to speak their mind without fear of negative consequences. There is a discrepancy in what employers and employees think – although 88% of companies consider themselves caring (they have a supportive culture and embrace the health and safety of their people), only 66% of employees say their employers care about their health and well-being. Mercer Marsh Benefits said workers in financial services companies and in construction are the most likely to believe their employers care, whereas those working in healthcare, education and retail are more likely to believe their employers fall short in this area. Amy Laverock, global advice and solutions leader at Mercer Marsh Benefits, said: “Employees who feel cared for by their employer are more likely to report organisational leadership that is committed to a healthy culture. Work-related commitments such as embedding well-being in job design and taking action on issues such as living wages and social justice are a key part of this. It also means giving employees confidence that they can afford the healthcare that they and their families need and having access to benefits that are relevant to them.” The survey revealed that 21% of employees are concerned about affording healthcare, with women (26%) and single mothers in particular (32%) significantly more likely to lack confidence that they can afford needed healthcare than men (18%). “Employers are in a unique and critical position to address healthcare gaps by exploring benefits and employee experience strategies that balance human and digital health delivery and respond to the different needs of a diverse workforce,” said Mercer Marsh Benefits. The findings also show that there is a positive correlation between higher levels of benefits and employee satisfaction. Of the employees who have access to ten or more benefits (such as medical coverage, life insurance and mental health counselling), 82% say they are thriving, (compared to just 58% of those with access to between one and four traditional benefits), and are more likely to believe their employer cares about their health and well-being, are less likely to move to a different employer, and are more confident that they can afford the healthcare their family needs. Hervé Balzano, president of health at Mercer and global leader at Mercer Marsh Benefits, highlighted the importance of offering a wide range of benefits: “In recent years, employees’ health and well-being have been put under pressure by multiple crises – ranging from economic and geopolitical conflicts to the global pandemic. Our research shows how these challenges, along with multiple pressure points facing healthcare systems, have brought to light significant gaps in protection for workforces. This is particularly true among groups such as low-paid workers, caregivers, and women.” He added: “The findings from Health on Demand clearly show that by providing comprehensive benefits, employers can address these risks, protect their employees and ultimately create a foundation for them to thrive at work and beyond.”

Stress is critical issue for employees’ health and well-being

Report highlights value of higher levels of employee benefits

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