Study: Over 60% of Romanian companies implemented well-being strategies
Over 60% of Romanian companies have implemented well-being strategies, which have been proven to have a positive impact on the satisfaction and performance of employees, according to a recent study conducted by Aon Romania, one of the leading global insurance brokers.
The concern for the health and well-being of employees has increased significantly in recent years.
Those who benefit from wellbeing programs at the workplace are up to 70% less likely to search for another job, according to the Global Wellbeing Survey Report for 2022-2023. Moreover, globally, 83% of the companies questioned have implemented a well-being strategy, 28% more compared to 2020. Companies’ programs in this regard emphasize the financial and professional component (54%), followed by emotional (51%), physical (50%), and social (47%).
“This year, 67% of the companies have wellbeing strategies already implemented, 4% 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,” said Armina Dobrică, senior consultant, wellbeing & culture at Aon Romania.
Aon Romania’s survey was 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, 21% between 101 - 250, and 18% over 1001.
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 RON 600 (EUR 121) per employee to over RON 3000 (EUR 605).
“Considering the market median, the deductibility limit is around EUR 400, 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,” declared Adrian Low-Vesa, director of health & benefits practice at Aon România.
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, not to mention 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,” says Dobrică. The Aon representatives highlighted the importance of a private pension plan and other long-term benefits, which companies could also offer to their employees.
(Photo source: Dmitry Marchenko | Dreamstime.com)
