Marsh Study Highlights the Importance of Employee Health and Well-being
A recent study conducted by Marsh, the world‘s leading insurance broker and risk consultant, has brought attention to the critical challenge that organizations face in terms of employee health and well-being. The study, titled “Health on Demand 2023 (HoD)”, identifies these aspects as threats to business productivity and profitability, emphasizing the need for safe and healthy working conditions.
According to the Pan American Health Organization, the workforce in the Americas represents close to 50% of the region’s total population, making it the main source of production and development on the continent. As a result, ensuring maximum work performance requires the implementation of equitable and fair employment environments alongside safe and healthy working conditions.
Ariel Almazán, Workforce Health Leader at Mercer Marsh Benefits for Latin America and the Caribbean, has warned about the risks associated with the lack of decent jobs, which can lead to unsafe working conditions, accidents, illnesses, and even deaths at work. Almazán emphasizes the importance of an anticipatory vision in managing the risks associated with mental health deterioration, the cost of living, and chronic health conditions.
The study also revealed that 61% of employees in Latin America and the Caribbean agree with the level of concern their employer expresses for their health and well-being. However, 14% disagree, and 25% neither agree nor disagree. This highlights the need to bridge the gap between employee perception and the implementation of immediate improvement opportunities, as many workers feel stressed in their daily lives.
The study also suggests that organizations need to adapt their benefit programs and offerings to meet the changing needs of the workforce. For example, 79% of employees who receive ten or more benefits are less likely to change jobs, highlighting the importance of comprehensive benefit programs in retaining talent.
Almazán believes that this is the best time for organizations to reinforce their benefit programs and plans, as demonstrated by the Global Talent Trends 2023 study, where promoting comprehensive well-being is the third investment priority in Latin America. As such, addressing inequalities in access to medical coverage and mental health counseling services is essential for organizations moving forward.