Turning the clocks back doesn’t just signal the end of daylight-saving time, for employers it also marks the start of flu season with staff sickness set to spike over the next few months.
Recent research from Totaljobs revealed that sick days jumped by 41% over the past three years presenting huge challenges for employers in terms of managing productivity, morale and employee retention.
Employers surveyed in the research blamed the rise in the number of sick days that employees are having on a few major factors but six in ten (59%) of HR leaders believed this is down to a deterioration of workplace culture and employee satisfaction.
It’s important to point out that it’s been an incredibly challenging few years for many people. They have come through a world-changing pandemic and walked straight into the cost of living crisis which is still being felt today. Many employees are financially, mentally and emotionally drained as a result of macro-economic events in recent years. This is likely to be driving the number of sick days being taken.
In addition to impacting productivity, rising sick days also create new challenges which are eroding that much sought-after connection between colleagues. Less time together can prevent people from identifying as being part of a team, impacting morale and wellbeing. It also increases pressure on employers to meet the differing demands of different demographics, and their differing attitudes and expectations towards their job – especially amidst tough economic conditions.
However, employers do have a secret weapon in combatting the rise in sick days. Employee benefits packages can provide the required financial and wellbeing support that many employees are calling for – this cost-effective approach can tackle challenges employers face around workforce morale, productivity and culture as well as support with talent attraction and retention.
Our recent research revealed that half (49%) of businesses report that they have increased investment into their benefits package over the past year, however four in ten (41%) employees still believe that their current benefits package is inadequate indicating that there is still work to be done.
In fact, benefits packages are growing in importance for employees as well as employers. Seven in ten (69%) employers now say that benefits packages are one of the very first things candidates are asking about in their interviews, and three quarters (74%) of existing employees are increasingly asking about their business’ benefits package.
How can employers ensure that the benefits on offer are fully supporting employees?
For the modern employer, understanding the specific needs of their employees has never been more important, but with more people working remotely and multiple generations currently occupying the workforce, it’s much harder to know if these needs are being appropriately met.
Worryingly, almost half (47%) of employees think that the benefits on offer to them are completely irrelevant to their personal situation, a figure that has risen from 39% in 2023. Despite increased investment, this statistic perfectly illustrates that employers are still failing to truly understand the individual needs of their employees, and although they’re driving change, it’s currently at risk of heading in the wrong direction.
Although nearly nine in ten (87%) employers believe their benefits are communicated clearly and simply, just 50% of employees say they know exactly what their employer offers – there is more work to be done in effectively communicating the benefits offering to the workforce.
Keeping lines of discussion open between employer and employee is crucial to understanding what support it is that individual employee’s needs. Using data insights, which is one of the features that Zest’s platform offers, means employers can send targeted communications to their employees to ensure that the right benefits reach the right employee at the right time boosting engagement.
Getting a benefits package right contributes to a more compelling employee proposition and offers improved value for money to employees and employers alike. Not only will it primarily improve support for all employees, making them happier, more productive and more engaged, in turn this leads to reduced sick days, enhanced value for money, a better ROI for businesses, and can help to attract and retain some of the best talent in today’s workplace.
