In today’s rapidly evolving work environment, the concept of employee wellbeing has grown far beyond traditional health benefits. Companies are increasingly focusing on "whole person wellbeing," which takes into account not only physical health but also mental health, financial wellbeing, work-life balance, social connections, and career development. Findings from WTW's 2024 surveys on employer healthcare practices, wellbeing programs, and employee attitudes toward benefits provide meaningful insights into how organizations are reshaping their approach to employee health and wellness. This blog touches on some of the components of whole person wellbeing and how companies are adapting to meet the needs of tomorrow’s workforce.

Financial Wellbeing: A Foundational Element of Whole Person Health

Financial stress has been identified as a key barrier to employee wellbeing. Nearly 45% of employees report that financial stress significantly impacts their overall health and job performance. Employees are increasingly seeking support to manage their finances, and this need is being addressed through a range of new offerings from employers.

A significant rise in financial wellbeing programs, with employers expanding their offerings beyond retirement planning and health savings accounts, include:

• Student loan repayment assistance
• Debt management programs
• Emergency savings funds
• Financial coaching and education

For many employees, the fear of financial insecurity can be as detrimental to mental health as physical illness. Offering these services helps employees feel more secure and supported, enabling them to focus on their personal lives and work with greater peace of mind.

Physical and Mental Health: Ensuring Access to Quality Care

Physical and mental health go hand in hand when it comes to overall wellbeing. Organizations are increasingly recognizing the growing need for comprehensive healthcare options that address both aspects of health.

Employees want easy access to quality care that spans traditional medical services as well as mental health support.

• Physical Health: Controlling plan costs, while supporting employee affordability and wellbeing, has employers focused on obesity and weight management, cancer and oncology, cardiovascular health, and women’s health. Nearly 50% of employers surveyed expressed interest in compounded GLP-1 medications available through certain vendors at much lower costs. Employers are continuing to invest in telemedicine and on-demand health services, making it easier for employees to access care without the need for lengthy appointments or travel.

• Mental Health: Mental health support is also seeing a significant shift. 55% of employers have expanded mental health benefits in the past year, focusing on employee assistance programs (EAPs), counseling services, and resilience-building programs. Furthermore, there's been a rise in providing access to mental health apps and online therapy services, catering to the increased demand for convenient, discreet support.

In addition to offering resources, companies are fostering a culture that normalizes discussions about mental health and encourages employees to seek help without fear of stigma.

Work-Life Balance and Hybrid Work: Flexibility in the Modern Workforce

One of the most significant changes in the workplace in recent years has been the shift toward hybrid workmodels. According to our 2024 Global Benefits Attitude Survey, 68% of employees indicate that having the option to work from home or follow a hybrid schedule is crucial to maintaining a healthy work-life balance.

Hybrid work offers employees greater flexibility, enabling them to manage both their professional responsibilities and personal lives more effectively. However, it also introduces new challenges in terms of boundaries between work and personal time. Organizations are increasingly focusing on:

• Flexible work schedules: Allowing employees to adjust their hours to accommodate personal needs.
• Mental health support: Providing resources to manage the stress and isolation that can come with remote work.
• Technology and tools: Ensuring employees have the right tools for collaboration and productivity, regardless of their physical location.

The key to a successful hybrid model is maintaining a balance that works for both the employee and the employer, ensuring that work-life integration doesn’t fall out of balance into overwork or burnout.

Culture and Social Connections: Building Strong, Supportive Networks

A thriving organizational culture is essential to employee wellbeing. Strong social connections are a top priority for employees, with 61% of workers stating that having positive relationships with colleagues directly impacts their job satisfaction and mental health.

Companies are increasingly focusing on initiatives that help foster these connections, both in- office and virtually. Key strategies include:

• Team-building activities: Whether virtual or in-person, team-building exercises and events can strengthen bonds among employees.
• Employee resource groups: These groups, whether centered around race, gender, or other common experiences, provide employees with a sense of belonging and support.
• Mentorship programs: Connecting employees with mentors can create meaningful relationships that support both personal and professional growth.

Creating an environment where employees feel connected to each other and to the organization is essential for mental and emotional health. These social connections are not only a safeguard against burnout but are also a driving force for innovation and productivity.

Life Stages and Whole Person Wellbeing

Employee wellbeing needs shift at different life stages, from young professionals to those nearing retirement. Understanding these nuances is key for companies aiming to provide truly holistic support. Employer data highlights the need for companies to tailor their wellbeing offerings to different life stages, recognizing that an approach that works for one group may not be as effective for another.

• Early Career: Younger employees may place a stronger emphasis on financial wellbeing and career development, seeking benefits like student loan repayment assistance and professional growth opportunities.

• Mid-Career: Employees in their prime earning years often focus on healthcare benefits, especially preventive care and family support. They may also look for more flexibility in their work-life balance to accommodate growing family responsibilities.

• Late Career/Pre-Retirement: Older employees may prioritize retirement planning, healthcare for aging family members, and work flexibility as they transition toward retirement.

Organizations that take a life-stage approach to employee benefits and wellbeing are more likely to support long-term employee retention and satisfaction.

Reshaping HR Departments to Address Whole Person Wellbeing

As the focus on whole person wellbeing deepens, companies are reimagining the role of Human Resources in fostering employee health. HR departments are evolving into strategic partners that are tasked with managing not only recruitment and retention but also comprehensive wellbeing programs that address the full spectrum of employee needs.

Key trends include: