A third of workers would consider leaving their job due to poor workplace wellbeing.
Employees who feel cared for are 27% more likely to stay with their current employer for over five years compared to employees who feel only adequately or poorly looked after, according to new research.
The research from ICM, commissioned by Unum, found that 30% of employees said they would consider leaving their job if they didn’t feel cared for by their employer. A further 26% of workers said poor workplace wellbeing would make them less likely to stay with an employer long-term and 21% said this would make them feel less motivated and productive.
Although we might expect workplace wellbeing to have improved post-recession, 34% felt they were only adequately or poorly cared for, and more than a fifth (22%) thought levels of wellbeing had actually got worse over the last three years.
The research found that one of the most tangible ways for companies to show they care is by providing a comprehensive benefits package – especially one that provides support for staff when they fall ill. 65% of respondents said a good benefits package was important to them and 62% specifically highlighted financial support through ill health, making this a bigger factor in staff loyalty than a good bonus or financial provision in old age (both 54%).
Peter O’Donnell CEO of Unum, told HR Grapevine: ‘This research shows that workplace wellbeing has a serious impact on staff motivation, loyalty and retention, which means businesses cannot afford to ignore it. By addressing all areas of staff wellbeing, including softer benefits like financial support for ill staff, businesses can help employees to feel that they are being cared for, and in turn drive staff loyalty.’
By HR Grapevine, as published on 13th May 2014