NEW YORK--(BUSINESS WIRE)--Leading health and benefits consultancy Mercer Marsh Benefits, a business of Marsh McLennan, today released its 2023 Health on Demand Report, which revealed that employee stress is a critical issue for talent attraction and retention.
The 2023 Health on Demand report surveyed over 17,500 employees in 16 markets across the globe about their priorities when it comes to health and well-being, highlighting the voice of the employee so employers can better address their needs. The results show that almost half of all employees (47%) report feeling stressed in everyday life. When asked what factors put them at risk for burnout at work, the top three were work pressures (54%), poor leadership (39%), and toxic culture (37%).
Addressing employee stress and burnout starts with addressing psychological safety in the workplace. Only 58% of employees agreed or strongly agreed that they feel free to speak their mind without fear of negative consequences. Leading employers are tackling the underlying causes of workplace stress as part of a comprehensive and inclusive benefits strategy, such as reviewing job design and supervisor competencies, creating a culture of belonging and inclusive decision making, and offering benefits such as reduced cost mental health treatment and virtual counseling. Encouragingly, nearly 70% of employees globally believe their organization would support them in an emergency or time of need.
Beyond work stressors, 21% of employees are concerned about affording healthcare, with women (26%), and single mothers in particular (32%), significantly more likely to lack confidence that they can afford needed healthcare than men (18%). Employers are in a unique and critical position to address healthcare gaps by exploring benefits and employee experience strategies that balance human and digital health delivery and respond to the different needs of a diverse workforce.
Additionally, the findings show that employees who believe their employer cares about their health and well-being are much more likely to be thriving – feeling positive about their health, wealth, and careers. The findings also show that there is a positive correlation between higher levels of benefits and employee satisfaction. In fact, employees who receive 10 or more benefits are more likely to believe their employer cares about their health and well-being, are less likely to move to a different employer, and are more confident that they can afford the healthcare their family needs.
Hervé Balzano, President, Health, Mercer & Global Leader, Mercer Marsh Benefits highlighted the importance of offering a wide range of benefits: “In recent years, employees’ health and well-being have been put under pressure by multiple crises – ranging from economic and geopolitical conflicts to the global pandemic. Our research shows how these challenges, along with multiple pressure points facing healthcare systems, have brought to light significant gaps in protection for workforces. This is particularly true among groups such as low-paid workers, caregivers, and women,” said Mr. Balzano.
“The findings from Health on Demand clearly show that by providing comprehensive benefits, employers can address these risks, protect their employees and ultimately create a foundation for them to thrive at work and beyond,” he added.
Amy Laverock, Global Advice and Solutions Leader at Mercer Marsh Benefits, underscored the need for employers to take a values-based approach to their benefits strategies.
“Employees who feel cared for by their employer are more likely to report organizational leadership that is committed to a healthy culture. Work-related commitments such as embedding well-being in job design and taking action on issues such as living wages and social justice are a key part of this,” said Ms. Laverock. “It also means giving employees confidence that they can afford the healthcare that they and their families need and having access to benefits that are relevant to them.”
About the 2023 Health on Demand Report
The 2023 Health on Demand Report was fielded in October-November 2022, and surveyed 17,531 employee respondents in 16 global markets about their priorities when it comes to health and well-being. The resulting report captures the voice of the employee to inform discussion around employee health and well-being needs, including the relationship between providing benefits and enabling employees to thrive, benefits that are suitable for the environment in which employees live, and benefits aligned with company purpose to support the wider health of society.
About Mercer Marsh Benefits
Mercer Marsh Benefits provides clients with one source for managing the costs, people risks, and complexities of employee benefits. The network is a combination of Mercer and Marsh experts working across more than 150 countries to develop local solutions drawn from global expertise.
Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s approximately 25,000 employees are based in 43 countries and the firm operates in 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 85,000 colleagues and annual revenue of over $20 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer and LinkedIn.
Marsh is the world’s leading insurance broker and risk advisor. With over 45,000 colleagues operating in 130 countries, Marsh serves commercial and individual clients with data-driven risk solutions and advisory services. Marsh is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people. For more information, follow Marsh on LinkedIn and Twitter.