In recent years, there has been a noticeable rise in concern for the health and wellbeing of employees. Global studies carried out by Aon demonstrated that the approach had a favorable effect on staff performance and job satisfaction.
According to the Global Wellbeing Survey Report for 2022–2023, employees who participate in workplace wellness initiatives are up to 70% less likely to look for new employment. Additionally, 83% of the organizations surveyed globally have established a well-being strategy, which is a 28 percent increase from 2020. The financial and professional component is given the most attention in-company programs in this area (54%), followed by the emotional (51%), physical (50%), and social (47%).
“This year, 67% of the companies have well-being strategies already implemented, with 4 percent more than the previous year. Interesting to note is that companies’ priorities changed. If last year, after the COVID-19 pandemic, emotional well-being was the main priority, this year, the focus is on the work-life balance. Financial wellbeing is the less addressed by Romanian companies”, Armina Dobrică, Senior Consultant, Wellbeing & Culture at Aon Romania, recently declared.
Aon Romania conducted a survey based on a questionnaire applied to 106 companies in areas such as IT, manufacturing, retail, telecommunications, finance, construction, automotive, or agriculture. Of these, 24% of companies have under 50 employees, 22% between 251 - 500, followed by companies with resources between 101 - 250, 21%, and over 1001, 18%.
Among the companies questioned, 92% provide employees with private medical benefits, covering services such as medical tests, consultations, and X-rays. The price for these benefits is the same for all employees for 87% of the companies, varying from 600 RON per employee to over 3000 RON.
“Considering the market median, the deductibility limit is around 400 euros, but we already see many companies that exceed this amount. It comes from the need to keep this benefit as high as possible. Employees believe that the medical benefit is the most important, an aspect also reinforced by field studies showing that it is in the top 3 in employee preferences. We also see a paradigm shift in employee benefits in that all seniority levels enjoy the same benefits. We believe that the flattening of this trend is encouraged by the actions of inclusion and diversity”, Adrian Low-Vesa, Director of Health & Benefits Practice Aon România, added.
Besides medical services, the strategies for employee well-being include multiple services and programs aimed at increasing employee efficiency, retention, and satisfaction. Among them is the possibility to work remotely or hybrid, with a degree of adoption among 92% of the companies, vouchers, extra vacation days, the possibility of sabbatical leave, travel insurance, access to educational courses, and cultural activities.
“Employee Assistance Programs had increased during the pandemic when companies began to offer employees access to psychological consultations for emotional stability. As important as financial stability. Considering our country's low level of financial education, I believe that organizations could become promoters for more effective personal financial planning. A private pension plan started very early in life makes retirement much more comfortable", declares Armina Dobrică, Senior Consultant, Wellbeing & Culture Aon Romania. "The percentage increases yearly, but there is no effervescence in this sense. Companies are looking to invest in tangible solutions like medical coverage that can be accessed easily and quickly. The private pension is a long-term benefit, the results of which are seen quite late", Low-Vesa also mentioned.
The survey findings on employee perks in Romania were released by Aon Romania on June 14 during the HR Breakfast event. The speakers—Adrian Low-Vesa, Director of Health & Benefits Practice, and Armina Dobrică, Senior Consultant, wellness & Culture—discussed the key trends in HR for the sector as well as the extent to which employee benefits and wellness programs are being adopted by Romanian businesses.
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