Bupa: Demand for Workplace Benefits Soars During Fast-Changing Economic Climate
29 Septiembre 2022 - 12:00AM
Business Wire
Employees are seeking security through benefits such as health
insurance and pensions in a bid to shore up their future in the
face of a fast-changing economic climate. That’s according to the
latest Bupa Wellbeing Index – a
landmark survey conducted amongst 8,000 UK adults revealing the
state of the nation’s health.
Research found that health insurance ranked in the top three
most sought-after benefits for a third (39%) of employees. This was
behind only flexible working (53%) and a company pension scheme
(46%). The other core benefits employees prioritised were employee
discounts (36%) and free lunches (25%), showing that as belts are
tightened with the cost-of-living crisis, people are relying on
their employers to support them in navigating economic
uncertainty.
As the war for talent continues, benefits play a significant
role in staff attraction and retention. More than two-fifths of
employees (42%) said they would be more likely to stay in their
current role if it offered good health and wellbeing benefits,
while 28% say they would feel more valued if their employer offered
more benefits to ease their cost-of-living.
Almost a fifth (19%) said that health insurance through work is
a priority benefit for them as a result of financial pressures.
Bupa UK Insurance data indicates that businesses are responding
to this with the demand for health and wellbeing benefits at an
all-time high. Bupa has seen significant growth in customers
numbers with over 150,000 new customers across private medical
insurance, health trusts, dental and cash plan so far during
2022.
Alex Perry, CEO of Bupa UK Insurance, commented: "In
challenging economic times, benefits like health insurance are
really valued by employees. Knowing that high-quality healthcare is
there when it’s needed gives employees important reassurance.
Setting out strong commitments to their employee wellbeing will
help UK businesses attract and retain the brightest and best. Our
data shows that looking after employees over the long-term by
prioritising their health, and that of their families, will always
win out.”
The Bupa Wellbeing Index data also shows employees are making
good use of their health insurance; 42% of those with health and
wellbeing benefits have used them in the last 12 months. But sadly,
the ‘long-tail’ mental health impact of the pandemic is still being
felt across generations, possibly exacerbated by the acute stresses
of economic uncertainty.
Mental health conditions such as anxiety (11%) and depression
(9%) were the most commonly addressed, in addition to Covid-19
(8%), along with musculoskeletal issues such as back or joint pain
(6%). Overall, Bupa has seen claims for mental health conditions
increase by 40% between 2019 – 2021.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220928005580/en/
Contact information Dan Thompson 07771520872 //
dan@thirdcity.co.uk