With talent retention continuing to be the biggest challenge for UK employers, a new study has revealed that it’s not all about the money that matters for employees with a quarter (27%) of all British adults saying they would actually consider lower pay in return for better health and wellbeing services at work. The number increases to one in three of Gen Z and millennials who would happily make this sacrifice.
In total two-thirds of British adults want their workplace to prioritise their health and wellness, according to a new global survey of 14,000 people in 25 countries conducted by the Oxford Longevity Project (OLP) and health-tech company Roundglass.
When people are thinking about their next job, 59% of Brits say it’s important to find an employer that provides services to support their mental health; this is higher than the proportion (57%) who are looking for their employer to offer services that improve physical health.
“For companies looking to attract and retain top talent, placing awareness and importance on employee mental health is now non-negotiable with one in three Gen Z adults rating their mental health as poor/very poor – the worst among all 25 countries in the global survey,’ said Sunny Gurpreet Singh, entrepreneur, philanthropist, and founder of Roundglass.
In the UK, it is millennials – the age group most likely to be juggling the stresses and financial responsibility of work-life balance with raising young families, is the generation that values companies that prioritise their health the most. Three-quarters (75 percent) of millennials surveyed said it is important, compared to 53 percent of Gen Z’s.
Globally as well as in UK, women are more likely than men to say they want their employer to prioritise their health and wellness (72.8% for women and 69.2% for men). The Global Longevity Survey shows a need for a greater employer focus on wellness – and particularly mental health – at a time when health-related inactivity is costing UK businesses an estimated £180 billion a year.
Leslie Kenny, Co-Founder of the Oxford Longevity Project and Founder and CEO of Oxford Healthspan, said: “This important study highlights the importance of focusing on preventative measures and holistic wellbeing to not only extend our lifespan but also enhance our ‘healthspan’.It’s clear that people expect employers to support their efforts to support themselves and improve their health. Work is such a big part of our lives, but for many it’s a stressful experience. With rise of life expectancy grinding to a halt, could the 9-5 need overhauling to help us live longer?”
In the UK, millennials – the age group most likely to be juggling the stresses and financial responsibility of work life balance with raising young families, is the generation that values companies that prioritise their health the most.
Three quarters (75 percent) of millennials surveyed said it is important, compared to 53 percent of Gen Z’s. Absenteeism in the UK is at its highest rate in a decade, and the number of people claiming disability benefits linked to mental health in the UK has surged to nearly 400 a day, tripling since the pandemic. One in 10 working-age adults are on sickness benefits, with mental health claims surging, according to the Institute for Fiscal Studies.
A total of 9.3 million Brits aged 16 -64 are now “economically inactive”, meaning they are neither in work nor looking for a job; with 2.8m of those saying they are inactive due to long-term sickness. That figure is around 673,000 higher than in early 2020, according to figures from the Office for National Statistics. Wes Streeting, the Health Secretary, has described mental health among young people as being in crisis.
Other highlights from the Global Longevity Survey include:
For more information, and access to more data and charts from the survey, contact: jenna@oxfordhealthspan.com or c-melinda.butts@roundglass.com
About the Global Longevity survey
The Global Longevity Survey surveyed 14,000 adults from 25 countries, and was conducted in April to May 2024 by the Oxford Longevity Project (OLP) and Roundglass. It examines attitudes, habits, hopes, and fears related to longevity, including insights into government policies, financial matters, pensions, and the impact of community factors. Countries surveyed included the UK, USA, Canada, Costa Rica, Mexico, Brazil, the UK, Finland, France, Spain, Germany, Greece, Italy, Denmark, Egypt, Saudi Arabia, Turkey, South Africa, United Arab Emirates, India, Australia, China, Indonesia, Japan, South Korea, and Taiwan.
About Roundglass
Roundglass is a health tech well-being company dedicated to democratizing holistic health and wellness. The Living app provides science-backed, proven activities, tips, and tools to improve and transform mental health and improve productivity through daily habits.
About The Oxford Longevity Project
The Oxford Longevity Project’s mission is to make the latest breakthroughs and best practices in longevity accessible to all, by bridging high science with actionable information for both medical practitioners and the public. https://oxfordlongevityproject.org/about-us