“It is a capital mistake to theorise before one has data.” — SHERLOCK HOLMES
Navigating Success, Through Data-Driven Insights
Understanding the heartbeat of your employees isn't just a strategic advantage – it's the key to unleashing a workforce that thrives. Anova, the workplace wellbeing survey platform, partnered with Alexforbes, experts in pensions and benefits, to research and report on, "Beyond the Paycheck: Insights on Employee Reward and Benefits", to give a window into how people feel about their rewards and benefits and what they value the most.
At the heart of our findings lies a resounding truth: one size does not fit all. Benefits are not just a checkbox exercise; they are a gateway to holistic employee wellbeing. Our research showcases that investing wisely in benefits can save organisations money in the long run. By understanding the unique needs and desires of your workforce, you avoid the pitfalls of investing in perks that go unnoticed. Salary is no longer the key driver of retention and attraction - we need to focus on delivering benefits that are supportive of wellbeing to generate a greater return on investment from the employee experience.
Key Insights at a Glance...
WHAT WE FOUND
of workers disagreed that their organisation had a competitive flexible working offering.
of respondents feel that if they knew it would make a difference, they would like the opportunity to give anonymous feedback to their employer.
Less than a third agreed that their workplace is proactive with wellbeing support
of respondents agreed that organisational policies or programs are in place to support employee wellbeing
With economic uncertainty and cost-of-living increases, financial health can have an impact on the wellbeing of employees.
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40% of respondents find that thinking about their finances made them feel anxious and stressed. Compared with the 41-50 age group, the 21-30 year old group of respondents were 9% more likely to agree with this statement.
62% of respondents agreed that they earn enough money to afford their bills, pay rent, and buy essentials. Two thirds (66%) of 41-50 year old workers agreed with this statement versus less than half (46%) of 21-30 year old workers.