Digital Health Benefits Raise Employee Retention

Global challenges, such as the COVID-19 pandemic and political upheavals, affect employees’ health and well-being. Employees worldwide are embracing digital benefits that assist them in accessing healthcare and managing their well-being digitally, according to the Health on Demand 2023 report.

The increasing rate of talent turnover serves as a clear signal for companies to respond to employees’ needs. Many shifts are taking place in the labor market, particularly as individuals reevaluate the significance of work in their lives, explains Joao Nunes, Managing Director & Head of Strategic Markets Latam, PageGroup, to MBN. In this complex era, the significance of using benefits to demonstrate company values and mitigate people risk will be amplified. 

About 82% of employees with access to 10 or more benefits report to be thriving, in contrast to only 58% of those with access to one to four traditional benefits, according to Health on Demand 2023. 

“It is important to review workplace health and well-being benefits through an equity lens to ensure health programs are helping all employees thrive and perform at their best,” reads the report.

Telemedicine has become a common aspect of employer-sponsored healthcare and 45% of respondents globally find this tool helpful for themselves and their families. Despite a preference for in-person care, 68% of employees worldwide are attracted to the prospects of digital healthcare. This preference rises to 82% in emerging markets. The key challenge lies in establishing trust and confidence in digital solutions gradually.

Workplaces must address widely different needs, characteristics and priorities among different groups, including women, racial and ethnic minorities and LGBTQ+ employees. Therefore, it is crucial for benefits programs to be inclusive and adaptable, addressing these disparities and fostering positive change continuously. “By embracing diversity and creating an inclusive environment, we are paving the way toward a better future for all, where each individual can contribute with their uniqueness and talent,” writes Geny Oceguera, Head of Human Resources, Samsung Electronics Mexico. 

Notably, the expectations of employees regarding benefits differ across generations. Generation Z experiences higher levels of everyday stress compared to other generations. Consequently, prioritizing the support and development of this group becomes crucial for the overall success of any business. These circumstances have significant implications for organizational commitment to benefits and the design of healthcare programs.

Meanwhile, a significant proportion of an organization's leaders and experienced employees are caregivers, with the majority belonging to the millennial and Gen X generations, accounting for 78% and 74% of caregivers, respectively. Providing support to caregivers not only improves their lives and contributes to community well-being but also helps employers retain essential experience and talent necessary for business success.