New research: More than half of UK workers aren’t satisfied with their current employer’s health and wellbeing support

Nearly three-quarters of employees believe now is a good time to look for a new role. But while employees see wellbeing as a high priority when choosing their next role, many businesses are failing to meet the expectations of top talent.

Coined by McKinsey back in 1997, the war for talent refers to the challenges in attracting and retaining employees.

In 2024, this is more relevant than ever as we know that workers are no longer putting up with demanding workloads, poor working conditions and a lack of holistic health support, and are actively seeking out companies that put their health, safety and wellbeing first.

Research reveals that nearly one-third (28%) of UK workers are seeking greater workplace health and wellbeing support from their employer.

Exacerbating the issue is talent shortage, with employers struggling to get applicants to apply at all. As Steve Grace, CEO and founder of The Nudge Group explains in our guide, “For junior roles, we’re seeing very few candidates; 5-25 people applying. This is driven by a belief in startups, side hustles, content creation culture, and working multiple part-time roles that fit into their life.”

Staff retention is also a major challenge. From lack of recognition to limited career progression opportunities, employees are not afraid to leave their current role for a company that aligns with their values, offers meaningful flexibility and supports them to bring their best self to work.

Nearly one in four UK workers (23%) are expected to change jobs within the next 12 months, according to PwC’s Workforce Hopes and Fears survey-up from 18% the previous year.

But, a paradox exists when it comes to investing in EVPs. While 96% of CEOs say they’re doing enough for workforce wellbeing, only 69% of employees agree.

As Ben Cividin, People Manager, Charter Hall advises, “Increasingly, talent will move on from organisations if they don’t feel like the whole of the offering is aligned to what they want…increasingly that [35 and under] cohort really wants to understand: ‘Does the organisation I’m joining have my best interests at heart? Not only are they going to give me the creative stuff, but are they actually going to create an environment where I can thrive and do my best work?’”

In 2023, only 47% of employees globally agreed that they rarely feel overstressed at work, according to research from Culture Amp†. Stress levels among UK workers are on the rise, increasing to 76% in 2023 (a +13% year-on-year increase).

Employers have a powerful role in supporting employees’ stress levels through access to self-serve resources, 1:1 counselling sessions, and company-wide initiatives. And this can have huge benefits for the individual and business alike.

According to the Culture Amp data, at companies who score in the top 25% for ‘I rarely feel overstressed by my work’:

• Commitment to stay is 12% higher
• Motivation is 12% higher
• Willingness to recommend the company is 8% higher

Employee turnover is costly-and these costs are on the rise.

Current estimates show that UK employers are paying around £62,890 in the first year of employment for a new staff member (on an average UK salary of £27,600). Other research shows that the cost of replacing an employee in the UK is £25,000 per worker.

Without a strong EVP, the chance of employee turnover increases, and the likelihood of securing new high-quality candidates decreases.

For job seekers, the most attractive employers are those prioritising wellbeing programs and holistic health support to meet the needs of modern workers. Research from Gartner shows organisations that effectively deliver on their EVP can decrease annual employee turnover by 69%.

But the benefits of investing in employee health are clear: We know that for every pound a business spends on mental health programs and interventions, UK companies can save £5.

As The HR Director states, “Nearly 70% of people aged 18 to 34 would change companies for better benefits…Offering comprehensive healthcare and wellness benefits can elevate EVP. In turn, that boosts your company in the eyes of both your current staff and prospective talent.”

Discover the emerging workplace trends that show how companies are winning the war for talent. Along with the latest data highlighting the benefit of building a winning EVP, you’ll walk away with practical strategies to strengthen your EVP to attract and retain talent.

Our ‘Winning The War For Talent’ guide shares:

• Survey data from 2,000+ employees and Sonder customers
• The risks of not investing in your EVP in a competitive job market
• How building a strong EVP can lower employee turnover, improve return on investment, and streamline recruitment
• Expert commentary on strategies to stay ahead of the competition with a strong EVP and communicate your offering with employer branding

Download now for practical advice on creating a compelling EVP that enables your people to thrive at work.

*Sonder data: September 2023, McGregor Tan survey of employees in Australia and New Zealand who were working a minimum of 30 hours per week.

† Culture Amp data: Live global Culture Amp data, covering 1.7m employees globally, supplied June 2024.

Sonder is a technology company that helps organisations improve the wellbeing of their people so they perform at their best. Our mobile app provides immediate, 24/7 support from a team of safety, medical, and mental health professionals – plus onsite help for time-sensitive scenarios. Accredited by the Australian Council on Healthcare Standards (ACHS), our platform gives leaders the insights they need to act on tomorrow’s wellbeing challenges today.