The European Corporate Welfare market is constantly growing and is experiencing a very positive period, in terms of its expansion and business awareness.
In such a scenario, it is quite evident how the health and well-being of employees are becoming not only a priority but also a strategic element .
The trends that - according to the study "Great Employee Benefit Study 2024" by the Finnish University of Aalto, promoted by the Epassi Group - will contribute to improving the condition of workers in Italy and Europe in the coming year are the personalization of benefits in favor of increasing job satisfaction . But why this trend ?
Let's better understand how the already discussed theme of the change of values is also influencing the world of work.
How important are benefits when considering a new job opportunity?
Corporate Welfare has become one of the decisive factors in choosing a new job.
According to the Great Employee Benefit Study 2024 (GEBS), over 75% of Italian and British employees consider benefits essential when evaluating a new job opportunity and - in Italy - as many as 83.2% of workers would be willing to change companies if the welfare package offered was more advantageous .
The answer to the question “How important are benefits when considering a new job opportunity?” is therefore “Very!” , but - to understand why - let's directly analyze the data that emerged together.
Data collected by the Great Employee Benefit Study 2024
The GEBS was conducted in 4 European countries (Italy, United Kingdom, Sweden and Finland) and involved 2400 employees and 726 employers , thus analyzing not only workers' preferences, but also companies' investment strategies on benefits.
Among the most significant results, it emerged that:
● the customization of benefits is a priority for 50% of Italian companies .
● European organisations plan to increase budgets for welfare packages by 6.5% per year, with a focus on benefits such as training and healthcare .
Offering a valuable welfare package is a strategic investment for the company
Company benefits are central to improving employee experience and strengthen employer branding .
According to GEBS data, 77% of Italian workers say that benefits positively influence their perception of the company, while over 76% consider them essential for job satisfaction.
These data do nothing but confirm once again that Welfare is a strategic investment for attract and retain talent .
What benefits do employers invest in today and which are the most requested?
Companies are increasing their investments, but in which direction?
The most popular benefits among companies are:
● comprehensive healthcare and psycho-physical well-being of employees
● Training and development.
● Additional insurance ( such as life insurance) .
But do employees agree with the companies' choices?
Although physical (and now also mental) health has always been at the top of the list of priorities, today European employees prefer:
● flexible hours,
● possibility of remote work ,
● a corporate culture oriented towards open dialogue .
In other words, the best benefit offered is the one that is shaped to the needs of the individual, in a flexible way, and designed to adapt to continuous innovations and changes in direction.
Customizing Corporate Welfare is the key to success
38% of Italian workers would be willing to give up part of their salary in exchange for personalized benefits.
Based on what has been said so far, this last data is a further confirmation of the importance of a tailor-made welfare plan , which takes into account individual needs and cultural diversity among European countries.
The aim is therefore to have an innovative approach and customized, to improve work well-being .
Knowing how to perceive differences and respond to needs is not always easy, of course, but it is worth it: because it is truly a concrete way to improve the quality of life of employees, helping them manage stress in the most complex moments.
The importance of well being in the workplace and the role of technology
Investing in wellness is always a good idea!
The well being improves employee engagement, often more than a pay raise.
In Italy, 52% of workers say they are more likely to remain loyal to an employer who invests in their well-being .
Even the technology, the innovative capabilities of the company, the communication and the However, digitalization of welfare plays a fundamental role : mobile applications for managing benefits are widespread in 74% of Italian companies and encourage healthier habits, according to 67% of workers .
We conclude by saying that today Italy has already undertaken a path towards a more holistic approach to Welfare, looking at the well-being of people in all its aspects, a trend that is expected to grow significantly in other countries as well.
The key to success is already - and will increasingly be - investing in targeted benefits, knowing how to listen to workers' needs and exploiting technological potential, to make the services offered increasingly accessible and inclusive .