Healthy, Happy Employees
This issue reveals data from Insurance Journal’s annual Agency Salary Survey. While maintaining competitive compensation packages is a critical step in attracting and retaining the best talent, employers must not forget about keeping their employees healthy and happy.
One important trend found in this year’s Agency Salary Survey is that satisfaction with compensation declined even while average total pay rose. There are many reasons behind this trend but the pressures that workers have faced since the beginning of the pandemic cannot be overlooked. [For the survey’s full report, see page 28]
New research from insurer The Hartford found that 42% of U.S. workers report declines in their mental health, while a similar percentage (43%) have delayed routine health care appointments since the COVID-19 pandemic began. The researchers said the delays in health care come as many also report declines in their social well-being (41%), financial security (32%) and physical health (29%), as well as in their mental health.
Employee burnout doesn’t seem to be getting any better. The Hartford said workplace burnout levels among U.S. workers throughout the pandemic have remained high at 61% in January 2022 — that’s the same level reported in February and July of 2021.
This burnout rate and declining health are reflected in the way many U.S. workers feel about their jobs. This could be why satisfaction over compensation dropped in IJ’s Agency Salary Survey despite rising pay on average.
The Hartford noted that most respondents (63%) to their survey reported that their overall health/wellness impacts their productivity at work, while 30% noted they’re less engaged with their work. About 25% said they have trouble concentrating or focusing.
“It is difficult to overcome the fear and fatigue we’re all experiencing amid the COVID-19 pandemic; however, it is important that people get back to prioritizing routine health visits and screenings to stay physically and mentally healthy,” said The Hartford’s Chief Medical Officer Dr. Adam Seidner. “Many health conditions, such as high blood pressure or diabetes, may not be noticeable or detected without routine screenings. These types of conditions, when they continue to develop undetected, can lead to more serious health problems.”
To better engage with workers and promote their overall wellness, Seidner recommends employers:
- Offer benefits and resources that address the overall well-being of their workforce — encompassing physical health, mental health, as well as financial resilience;
- Communicate more often to employees to remind them of the benefits and services that are available;
- Lead by example by making your own appointments a priority; and
- Offer the flexibility employees need to make their appointments a priority.
The Hartford’s national omnibus online survey was conducted in the U.S. among approximately 2,000 adults aged 18+, including 1001 full-time and part-time employed respondents. The research was conducted Jan. 5-7, 2022. The margin of error is +/- 3% at a 95% confidence level.