Top companies want top talent. But in this age of the ‘Great Resignation’ and record labor shortages, hiring managers might find themselves fighting over a narrower set of top candidates. Therefore, attracting and retaining top talent can come down to understanding what candidates and employees really want and making sure your organization offers that. Read on to learn what the research says about what's important to top talent these days.
Employee stress is on the rise
The turmoil of the pandemic has put a spotlight on physical and mental health. In a study by Lyra Health, 25% of workers say their mental health declined over the past year, with diagnosable mental health conditions doubling1. Another study of workers in the US and UK found that 94% report feeling stress at work, with 33% saying their stress level is very high2.
Employers have come to understand that stress and mental health issues not only impact individuals but company performance too. We’ve recently written about how organizations with employees who are better equipped to handle stress can achieve:
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Reduced staff turnover and absenteeism
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More effective response to challenges and periods of change
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Increased employee productivity
Even before the pandemic, Gartner research found that 45% of well-being budget increases were being allocated to mental and emotional well-being programs3. And the trend continues. The 2021 HR Sentiment Survey by Future Workplace found that 68% of hiring managers acknowledge that employee wellbeing and mental health is their top issue today4. In the Lyra Health study, 54% of hiring managers said their employees now have higher expectations in regards to corporate mental health support, and that 71% of job seekers expect their prospective employer to offer mental health benefits5. So organizations are responding.
Organizations are creating new employee well-being benefits
Smart organizations have committed to making employee well-being and mental health a business mandate, not just a buzzword. A PwC survey found an uptick in companies offering things like evidence-based mental health support, mandated vacations, and incentives to achieve lifestyle changes like eating healthy or losing weight.6 Other organizations are offering free online counseling sessions, or training leaders on empathic leadership and ways to destigmatize mental health on the job.
Gianpaolo Barozzi, Senior Director of HR at Cisco says, “the pandemic has brought mental health and well-being to the forefront. We recognize leaders will need to lead with empathy, flexibility, and an openness to what works best for each individual and team.”7
Digital tools are playing an increasingly important role in the focus on employee well-being, as digital technology can support positive behavioral change on a large scale as well as provide multiple other benefits. Tools like company-funded meditation and fitness apps provide help on demand, are easy to use, and anonymous. They also allow employees to decide how they want to engage with a therapeutic approach.
How can OPTIVIO help?
The best digital well-being tools can accurately identify leading sources of stress, and provide personalized training to address these challenges, increasing an individual’s energy and focus, and improving their rest. OPTIVIO’s technology is based on proprietary algorithms, and provides the sensitivity to detect when an individual is stressed using existing wearable devices. The platform generates personal insights by integrating with office-suite software and matching stress levels with specific times and events, thereby enabling users to identify what stresses them out. Finally, it delivers a data-driven, individualized training program to address that stress.
The takeaway
To attract top talent, smart companies are offering innovative employee well-being programs that incorporate technology to make stress-reduction broadly available across the organization. But employers must also reinforce this investment with campaigns and personalized support, and show that the company is fully committed to employee well-being by ensuring executive and stakeholder participation. Watch for more articles in this space that address what’s needed to make corporate well-being technology a success.
Optivio is an enterprise-level stress management and performance optimization platform that can help your workforce better manage stress. Learn more about it here: http://www.optivio.com/technology
REFERENCES
1. Lyra Health, Your 2021 Workplace Mental Health Trends Forecast
2. Hansen, B, Wrike 2018: Crash and burnout: Is workplace stress the new normal?
3. Gartner, 2020 Reimagine HR Employee Survey
4. Future Workplace, 2021 HR Sentiment Survey
5. Lyra Health, Your 2021 Workplace Mental Health Trends Forecast
6. PwC, 2020 HR Technology Survey
7. Forbes, 5 Strategic HR Priorities for 2021
