Synopsis
A recent study reveals that health and wellness are now top priorities for Indian workers contemplating job changes, indicating a significant shift in employment expectations. Discover how companies must adapt to meet these evolving demands in the workplace.Key Takeaways
- Health and wellness are crucial for attracting and retaining talent.
- The demand for work-life balance is growing among employees.
- Companies need to adapt their benefits strategies to meet evolving expectations.
- A multigenerational workforce influences the shift in workplace benefits.
- Post-Covid, employees are prioritizing wellness programs more than ever.
New Delhi, April 30 (NationPress) Health and wellness have emerged as a significant consideration for many workers in India who are contemplating job changes, according to a report released on Wednesday.
The analysis conducted by Aon, a worldwide professional services provider, revealed that 82 percent of Indian employees are looking for new job opportunities within the next year.
The five most valued benefits among the Indian workforce include work-life balance programs, medical insurance, career advancement opportunities, paid time off, and retirement savings.
Medical insurance ranks highly across all age groups surveyed in India, with Gen X and Gen Y placing it above Gen Z, who prioritized work-life balance as their top benefit.
Furthermore, 76 percent of respondents indicated a willingness to forgo existing benefits for a more suitable benefits package. This underscores the urgent need for companies in India to adapt their total rewards and benefits strategies to align with the evolving expectations of their workforce.
“Historically, few companies recognized how benefits, wellness, and healthcare programs could impact their employer brand and employee value proposition. However, post-Covid, we observe a shift as employees increasingly appreciate these offerings, prompting companies to actively promote and communicate their availability to current and prospective employees,” stated Nitin Sethi, head of Talent Solutions for India at Aon.
“The presence of a multigenerational workforce is propelling this transformation, while advanced technology simplifies the implementation of these programs. In the coming decade, businesses that excel in benefits, health, and wellness will have a prime opportunity to establish themselves as top-tier employers,” he added.
The report is based on a comprehensive global study involving over 9,000 employees across 23 countries, including the US, UK, China, India, and Australia.
It identified the following top five attributes that significantly attract employees in India: competitive pay (46 percent), environmental and social responsibility (24 percent), support for wellbeing (22 percent), an enjoyable work environment (21 percent), and strong corporate values (21 percent).
“Employees are becoming increasingly aware of the benefits associated with medical and life coverage,” remarked Ashley Dsilva, head of Health and Wealth Solutions and director and principal officer for India at Aon.
“The significance of retirement and financial planning among younger workers is particularly noteworthy,” added Dsilva.
