Cost-of-living | Firms focus on mental & financial wellbeing plans as staff money concerns mount

Financial concerns are pushing more mental wellbeing and financial support benefits into employers' benefits packages, new research shows.

In its latest benefits and allowances survey, XpertHR revealed counselling or an employee assistance programme (EAP) remains the most common health-related benefit offered by more than 8 in 10 UK employers (84%).

Since 2020, counselling or an EAP has been the most common health-related benefit offered by employers, however the findings also reflect the shift to a more holistic approach to wellbeing with employee benefits increasingly encompassing support for mental as well as physical health.

Recent ONS data found that the UK lost a record number of working days to sickness in 2022 with ‘mental health conditions’ being the fifth most common reason. These survey findings are a reflection of employers recognising the need to integrate a benefits package that positively impacts mental wellbeing.