In South Africa, more than 40% of all work-related illness is due to work-related stress, major depression, burnout and anxiety disorders, a study by South African Depression and Anxiety Group (SADAG) found. Another study further found that depression alone cost SA more than R232 billion in lost productivity due to absence from work and attending work while feeling ill.
A competitive salary alone is no longer enough to attract and retain top staff. Instead, workers now expect companies to offer packages which support their wellbeing and lifestyle requirements too. According to the Workplace Culture Trends report for 2018, 86% of millennials said they would consider taking a pay cut in order to work at a company that offers packages which suit their values and lifestyle.
The term ‘wellbeing’ is a broad one and can cover just about any aspect of an employee’s life. So, which specific areas are companies focusing on in 2020?
· Stress and Mental Health – Already a hot topic, the mental health of employees will continue to dominate wellbeing agendas.
· Financial support – Employers are also set to offer more financial wellness support in 2020. An Alexander Forbes Member Watch Survey found that SA
employees are spending an average of 13 hours a month (in some cases, even more than 20 hours) worrying about their finances.
· Flexible working- As employees look to achieve greater work-life balance, they are increasingly seeking work with businesses that offer flexibility
The employee wellbeing market has grown significantly in recent years with HR departments continuing to identify effective ways of building a happy and motivated workforce
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