Dive Brief:
- More than half of employers said they plan to address the impact of social determinants of health — social and economic conditions that affect a person’s ability to be healthy — on personal well-being in the next three to five years, according to the results of a survey released May 29 by Business Group on Health and Fidelity Investments.
- Of the 160 employer respondents, more than three-quarters reported providing family-forming benefits and reproductive support in 2024, and 86% of employers said they planned to offer the benefit next year, per BGH.
- Roughly 6 in 10 employers said their well-being strategy is consistent globally, and 18% plan to develop one soon. The challenge, according to 70% of respondents, was that employee needs are not universal in each country where they operate.
Dive Insight:
Employers increasingly have been turning to well-being and other nontraditional benefits to attract and retain workers, including benefits that address the social determinants of health, such as financial literacy programs and housing assistance.
The 2023-2024 Aflac WorkForces Report found that 66% of employees are less likely to look for a new job if they feel like their company supports their well-being.
“Addressing social determinants of health may soon be a key aspect of well-being design,” Ellen Kelsay, president and CEO of Business Group on Health, said in a statement. “By supporting initiatives that reduce employee cost-sharing or provide child care support and flexibility, for instance, employers enable individuals and their families to boost their overall well-being and achieve other positive outcomes.”
Some employers are tackling what are known as the social determinants of work: the factors that affect how an employee can show up in a healthy way at work. That can look like caregiving or child care benefits, therapy services or transportation assistance.
These types of nontraditional benefits are an area of opportunity for employers, according to HR Dive’s 2024 Identity of HR survey. More than half of respondents said remote and hybrid work programs were part of their talent strategies last year. Other benefits that saw an uptake included programs addressing mental health, educational attainment and commuting.