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UK business leaders driving employee investment in welfare

Business leaders in the UK aim to retain and develop their staff in response to ongoing financial concerns and will increase their investment in employee well-being.

According to Bupa Global’s Executive Wellbeing Index 2021, UK business leaders are projected to increase employee mental health and well-being spending by 18% next year, among the highest percentages in a global survey.1..

Currently, 3 in 10 business leaders make employee mental health a top priority (28%).These larger budgets include mental health support, improving the skills of existing personnel and management level staff, mental health illness days, and private health insurance with mental health insurance.2..

The rise of empathic leadership

Recognizing the pandemic-induced changes in work life and the challenges many face to balance life and work, UK business leaders are now using flexible work patterns to improve employee well-being. We consider it the most important factor in.3 And we implement this in-house. Two out of three business leaders (63%) have already implemented flexiworking, with an additional 20% planning to implement it next year.

It is clear that business managers are taking a more empathetic and comprehensive approach to leadership. UK board-level executives value honesty, empathy, listening skills and credibility among the CEO’s most important qualities.Four..

As a result, one in five now sees the CEO as having the dual responsibility of being a “Chief Executive Officer.” In fact, three in ten UK companies have already posted “CEmO” and an additional 13% say they plan to open positions within the next 12 months.

Economy and environment

Employee welfare investments are set to combine with a greater focus on sustainability as a precursor to a green commitment to guarantee the future of the business.

Part of this comes from an attitude towards the economy. Only one in five UK business leaders (22%) are optimistic about a full recovery after a pandemic, dramatically reducing the optimistic level in 2020 (44%). One-fifth (20%) believe that the full economic impact on their business has not yet come.

In difficult and competitive situations, it is important that 3 out of 10 board-level executives show strong ESG values ​​not only for investors and customers (22%), but also for hiring (30%). I know there is.

Currently, about one-third (31%) aim to balance profits and goals, and 22% say that the environmental agenda will become more important to their company in the future.

Sheldon Kenton, Managing Director of Bupa Global, said: “We know that the uncertainties we live in continue to affect our lives, our business, our mental health, and our families. Therefore, UK business leaders are specific. It’s encouraging to see investing in employee well-being in spending and initiatives.

“In addition to this, by focusing on the environmental agenda and more purpose-driven goals, UK companies will be more credible to their employees, customers and investors.

“Bupa Global is committed to supporting business leaders and their people by continually investing and updating their mental health and well-being offerings. With our Global Virtual Care Proposal, around the world. You will have access to international physicians wherever you are. Recently, we have removed lifetime restrictions throughout the mental health treatment plan for inpatients and day-trip patients. Also, the benefits of the plan include ADHD, addiction. , And self-injury compensation. We also offer a variety of preventative health and well-being services designed to help our customers, their families, and employees manage their health with a more comprehensive approach. doing.”

UK business leaders driving employee investment in welfare

Source link UK business leaders driving employee investment in welfare

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