Give The People What They Want

A competitive salary alone is no longer enough to attract and retain top staff

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 that suit their values and lifestyle. Such perks include access to healthcare, gym memberships and parental leave. And companies are listening.

The International Foundation of Employee Benefit Plans reports that more than nine in 10 companies around the world offer staff at least one form of wellness benefit, and more than three in five have an allocated ‘wellness budget’. What’s more, these budgets are expected to increase by 7.8% in the coming years and, according to Deloitte, the corporate wellbeing market as a whole will be worth R169.5 billion in 2021.

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 focussing on in 2020?

Stress and mental health

Already a hot topic, the mental health of employees will continue to dominate wellbeing agendas. Stress and lack of work/life balance support cost the EU, Australia, Canada and US billions every year through reduced productivity.