Almost two-thirds (64%) of UK employees believe their wellbeing is low, a study has revealed.
Research by Alight found that the main causes of stress were personal finances and job challenges, cited by 59% and 55% of workers respectively.
The cloud-based human capital technology and services provider’s 2023 International Workforce and Wellbeing Mindset Study polled 500 employees in the United Kingdom, France, Germany and the Netherlands.
Now in its thirteenth year, the 2023 report discovered that nearly three in 10 (29%) respondents reported a decline in their mental health because of the current economic climate. Almost two in five (37%) said they had suffered adverse effects of stress caused by work, while more than a quarter (27%) had experienced anxiety or panic attacks.
Nearly half (47%) of those polled think their financial position will worsen in the coming year and a similar percentage believe that the current economic climate is negatively affecting their general wellbeing.
Additionally, more than one in three (36%) think financial constraints will prevent them from ever having the life they want.
When asked about their physical wellbeing, nearly half (46%) believe work-life balance is essential in ensuring a healthy lifestyle. More than half (51%) of those surveyed would like healthy eating advice, with 46% desiring support to help them with their work-life balance.
The data suggests that while employees value physical wellbeing, just a quarter (25%) have enrolled in employer-provided health plans. Among employees, those earning the most are twice as likely to be enrolled than those on the lowest salaries, at 34% versus 16% respectively.
Nearly two in five (37%) employees believe benefits can make a business more appealing, but three in 10 (31%) would like their company to provide more robust wellbeing benefits – a rise from the 22% who said the same last year.
Additionally, fewer than one in give (19%) think their total rewards meet the needs of their families, a 5% reduction from 2022’s figures, while more than a quarter (27%) do not have access to any wellbeing benefits.
Jan Pieter Janssen, EMEA vice president of business development at Alight, said: “Organisations need to invest in accessible technologies and personalised benefits that can positively influence work culture, employee wellbeing and overall employee satisfaction.
“They need to prove that they have their employees’ backs and show that they genuinely care. Those that step up and offer support and guidance will ultimately regain trust, attract and retain talent, supercharge productivity and enjoy success beyond this challenging socio economic climate.”
