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- Aon’s 2021 Global Wellbeing Survey finds that
globally, companies that improve employee wellbeing performance by 4% see a 1% increase
in company profits. - The top five employee wellbeing issues in
Singapore are work-life balance, mental health, culture, burnout and virtual
work environment. - In Singapore, company culture is the number
one driver in developing a business case for employee wellbeing programmes.
SINGAPORE – Media
OutReach – 27 April 2021 – Aon plc (NYSE: AON), in
partnership with IPSOS, has released a survey that confirms the link between
employee wellbeing and company performance. Aon’s 2021 Global Wellbeing Survey found that improvements
to employee wellbeing within a company directly impact customer satisfaction
and retention. While wellbeing performance overall has a direct connection to a
strong and focused wellbeing strategy, a series of ad-hoc wellbeing initiatives
will have less impact.
Company culture the
main driver in addressing mental health, burnout in Singapore
The top five employee
wellbeing issues in Singapore are work-life balance, mental health, culture,
burnout and a virtual work environment.
Although 91% of Singapore companies have at least one
wellbeing initiative in place, only 51% have a strategy and just 16% fully
integrate wellbeing into their business and talent strategy. The survey also found
that overall, 27% of wellbeing programmes are performing exceptionally or above
average.
Company
culture was cited as the number one driver in developing a business case for
wellbeing programmes. Beyond financial resources and investment, almost half of
Singapore companies (44%) indicated that being able to measure the return on
actions being implemented is one of their biggest challenges in starting or
expanding wellbeing initiatives.
Leadership can set the tone for culture and
wellbeing. Forty-two percent of Singapore companies agreed that the Chief Human
Resources Officer (CHRO) is the champion of wellbeing initiatives, followed by
the CEO (21%).
The survey also found
that globally:
- improving employee wellbeing performance
by 3% increases customer satisfaction and retention by 1%; - organisations that improve employee
wellbeing performance by 3.5% see a 1% increase in employee satisfaction and
customer acquisition; and - where employee wellbeing performance improved
by 4%, there was a 1% increase in company profit and a 1% decrease in employee
turnover.
Tim Dwyer, CEO, Health
Solutions, Asia Pacific, Aon, said: “The impact of the global COVID-19 pandemic
and a volatile economy has elevated the importance of wellbeing to individuals,
organisations and communities in the region. Companies will do well to ensure
that there is top leadership support in creating a culture and a wellbeing
strategy that is aligned with their business strategy. This will lead to a
resilient workforce that moves forward with confidence and certainty driving
business performance.”
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