EMPLOYEE WELLBEING – A NEW METRIC FOR ESG REPORTING

When you think of your company’s social impact, what do you think of? Health is a major factor within ESG reporting but is often only considered in terms of illness and injury, rather than as part of our everyday wellbeing. It’s also a current concern for many – reports of people paying privately for treatment have soared by 40% as a result of increased NHS waiting times, while new research by local health cash plan provider Medicash shows that over 80% of HR professionals have noted mental health absences increasing over the past two years.

In light of both the current economic climate and recent public health crises, employee wellbeing is increasingly becoming a new metric for companies’ social impact reporting. Workplaces are seeing a dramatic shift from wellbeing as an occasional ‘nice-to-have’ to an integral part of their workplace culture, with a focus on proactive, employer-led promotion. In fact, Medicash’s survey – consisting of over 2,000 employees and 500 HR professionals across the UK –shows that almost half of UK employees now believe that health & wellbeing is their employer’s direct responsibility.

Despite this, Medicash’s research shows a clear rift between employee expectation and employer provision when it comes to their wellbeing. Despite more than a third of HR professionals seeing increased demand for health benefits from their staff, only 21% of employees reported receiving employerpaid health benefits – with 27% reporting that there were no health benefits offered by their employer at all.

“Health benefits like cash plans are an incredibly valuable and cost-effective way for businesses to genuinely care for their employees,” explains Medicash Sales & Marketing Director, Paul Gambon. “By financially supporting your workforce outside of salary, you’re demonstrating a clear dedication to their wellbeing both in and out of work, and making a positive impact that’s valued by both customers and employees.”

Medicash’s findings show clear potential for employee wellbeing to not just make a positive impact on the wider UK workforce, but to boost companies’ ESG reporting capabilities from the get-go.

You can find more information on Medicash’s survey, “The Employee Benefits Rift” at www.medicash.org/theemployee-benefits-rift