Research from WTW finds that, despite this, employers are prioritising support for mental and physical wellness.
By Maggie Mancini
While companies in Singapore are taking steps to support employee well-being, research finds there is a disparity between the focus of employer’s well-being programmes and what employees need the most. That’s according to the latest 2024 Well-being Diagnostic Survey by WTW.
Singapore employers are prioritising support for mental (51%) and physical (49%) well-being, in light of declining mental health among employees and a quarter of the workforce suffering from poor physical health. Yet, employees say that financial well-being support is their top area of concern (53%), despite being one of the lowest priorities for employers (8%), followed by mental well-being (42%).
Additionally, close to half of employees (46%) are suffering with moderate or major issues in at least two areas of their well-being. Poor health in any dimension of well-being can lead to higher absence, presenteeism, and burnout among employees and lower levels of work engagement. The study shows that 50% of employees have above average levels of stress, while a third (32%) have reported symptoms of anxiety or depression, and most are untreated. Those ages 40 to 49 years old are the least likely to get treatment for their anxiety and depression.
“Mental health is a growing concern in Singapore,” says Audrey Tan, head of health and benefits for Southeast Asia and Singapore at WTW. “Employers can provide communication, manager training, and programmes that are geared towards engaging employees on mental health issues, as well as creating social connections that encourage employees to improve their mental health. Lifestyle changes are also effective in helping manage mental health, with those seeking treatments benefitting from counselling and medication.”
The survey also finds that companies that are highly effective in their well-being programmes are two times more likely to report better financial performance and human capital outcomes. These include higher employee productivity and employee work engagement, lower annual employee turnover, and better attraction or retention of key talent.
While employee appreciation of well-being programmes has improved over the last five years, many report mixed feelings about their employer initiatives and are not yet ready to recommend their programmes to others. The study reveals that although employers think their well-being programmes are highly important in supporting employees’ health and the workforce (58%), only 48% of employees agree on the importance placed, prompting interest on how employers can better optimise their support to align with employee needs.
