People Matters Report: The Future of Employee Well-being 2023

Employee well-being is no longer just a feel-good factor for companies. In fact, it has become a critical component of an organization's success. The pandemic has made companies realize the importance of well-being programs and the need for a multi-dimensional approach towards employee well-being. That's where the ekincare and People Matters Well-being Outlook 2023 report comes into play.

At ekincare, we have been championing the cause of employee well-being for the past eight years. We are excited to partner with People Matters to bring you this comprehensive report on employee well-being. The report is a guidebook to reimagine employee well-being and is designed to help companies take a long-term view of their well-being programs and institutionalize the changes in their approach.

The report rightly points out that technology plays a pivotal role in driving healthier outcomes in the workplace. If it is personalized, timely, and integrated, it can give deep insights to HR leaders. More than 89% of companies design well-being programs with employee demand for personalization in mind, which underscores the growing importance of employee-centricity in the workplace. We believe that powerful platforms can drive awareness, adoption, and engagement at scale, and that's why we are committed to providing our clients with the latest technology and personalized solutions to promote holistic well-being.

The report features insights from top HR leaders across different industries on implementing and improving their well-being programs. The report presents a detailed analysis of the industry's well-being trends and highlights the importance of personalization and flexibility in well-being programs. According to the report, 89% of companies state that personalization is the top employee trend impacting wellness programs, while for 86%, it is flexibility.

The report also emphasizes the importance of increasing employee engagement. 81% of companies stated that increasing employee engagement was the primary objective in the coming year. 92% of companies state that employee feedback and usage metrics of well-being programs helped improve and foster a culture of well-being at the workplace.

Source: Well-being Outlook 2023 report

62% of companies stated that understanding employee requirements through surveys and providing customized options was important while creating the right well-being portfolio. The report also highlights the importance of emotional well-being, with 51% of companies reporting it as an important dimension to focus on. 49% of companies focus solely on physical well-being, and over 46% address well-being holistically.

One of the most important findings of the report is that 72% of respondents said gamified engagement was a vital employee preference when designing a well-being program. This shows that companies need to make well-being programs fun and interactive to engage employees and motivate them to participate actively.

Source: Well-being Outlook 2023 report

As the report shows, companies need to take a multi-dimensional approach to employee well-being to mitigate the impact of the pandemic. Technology plays a pivotal role in driving healthier outcomes in the workplace if it is personalized, timely, and integrated to give deep insights to HR leaders.

In our interactions with HR leaders, we hear about three areas where they see massive opportunities to improve the outcome of their benefits programs: increasing awareness and adoption of health and well-being benefits, increasing employee engagement, and having one integrated platform to personalize, automate, and measure outcomes. This report corroborates all of the points above and more.

The ekincare and People Matters Well-being Outlook 2023 report is a must-read for all HR leaders who are looking to build impactful well-being programs for their organizations. We hope you find the report insightful and informative, and that it inspires you to take a holistic approach to employee well-being. We remain committed to championing the cause of holistic well-being for India Inc. employees and their families, and we look forward to continuing this journey with you.