The Employee Wellbeing Crisis: Are You Ready?

Once upon a time, both physical and mental health were seen as largely matters for the individual. Sure, employers might offer enticing health benefits to certain groups of employees — but in all honesty, that was often more about being competitive in recruitment than anything particularly deep or holistic. 

In the last decade or so, though, there's been a revolution in the way companies see employee wellbeing. Rather than an optional add-on, employee wellness is increasingly being built into the fabric of business operations. 

Although it’s not that surprising. Because fundamentally, we're on the brink of an employee wellbeing crisis. 

And it's not just in the interests of employees that companies get involved in solving it — it's in the interests of the companies themselves.

Crisis? What crisis?

'Crisis' is a loaded and often overused word. So let's start by exploring what we mean by it in this context. 

Firstly, it doesn't matter what side of the political fence you sit on, it's a harsh fact that the US has one of the most expensive healthcare systems in the world. And that means many people struggle to afford necessary care. 

In 2024, millions of Americans are uninsured or underinsured and facing barriers to medical services. And even when people can access care, they often face staff who are experiencing burnout and leaving the field, leading to longer wait times and reduced-quality care. 

Yet there are a lot of Americans who need to be cared for right now. 

Conditions like heart disease, cancer and diabetes remain the leading causes of death and disability across the country. At the same time, substance-use disorders are taking an increasing toll on individuals and communities. 

For instance, opioid-involved overdose deaths rose from 21,089 in 2010 to 47,600 in 2017, then leapt further to 68,630 in 2020 then 80,411 in 2021.

Poverty and a lack of healthy food and exercise also contribute to chronic disease levels that compare poorly to many advanced nations. According to one report, the US has the highest chronic disease burden and an obesity rate that is 2x higher than the OECD average.

America's mental health can also be described as facing a crisis. The CDC estimates that around 1 in 5 adults experience mental illness in a given year, with anxiety and depression being the most common concerns. 

Mental health concerns, particularly among young people, have risen sharply in recent years, with nearly 1 in 3 teenagers reporting poor mental health in 2022. 

But despite this rising need, access to mental health services remains a major challenge. According to this 2022 survey, 6 in 10 psychologists no longer have openings for new patients, nearly half (46%) have been unable to meet demand for their services, and 72% have longer waitlists than before the pandemic. 

So what can your business do?

Solving these problems at the root is ultimately a challenge for government, not private companies. But with the crisis expected to heighten in the coming years, private companies will inevitably have to deal with the fallout — from absences and low productivity to hiring problems. 

This means the more that businesses can put employee wellbeing at the core of their operations, the more they'll have a competitive advantage over rivals who don't. 

In the current economy, some of you will want to stop reading at this point. After all, if you're struggling to keep the basics of your business going, you might see employee wellbeing as less than a priority. 

However, that would be a mistake — because firstly, wellbeing isn't a separate issue from a company's profitability. It goes right to the heart of it. And secondly, many of the changes a company could make don’t cost anything at all. 

One of the most effective ways to improve employee wellbeing is to implement practices that create a supportive culture. For example:

• Encourage open and honest communication between employees and managers. 
• Host regular check-ins with employees and create safe spaces for them to raise concerns or seek help.
• Promote flexible work arrangements and discourage overworking
• Encourage employees to take breaks and disconnect after work hours.
• Stop sending work emails at night and on the weekends.
• Create a culture of respect and appreciation for all employees by recognizing and rewarding achievements — both individually and collaboratively.
• Conduct regular employee surveys to understand your team’s needs and concerns.
• Organize team-building activities and social events to foster connection and a sense of belonging.
• Lead by example and get managers to outwardly prioritize their own wellbeing so they can model healthy habits for their team members. 

Are you getting your money's worth?

At the same time, it's worth examining existing insurance and benefits that the company is providing to see whether you're really getting your money's worth. 

Might shifting to an alternative provider give employees more effective benefits for the same outlay, or an even lower one?

That's certainly what many companies have found by switching from traditional insurance providers to YuLife. You can read about their specific experiences in our comprehensive collection of case studies here.

More broadly, though, partnering with YuLife can be a powerful way for employers to improve employee wellbeing in several key ways.

1. Holistic approach to wellbeing

YuLife goes beyond traditional health insurance to encompass physical, mental, social, and financial wellbeing. This comprehensive approach recognizes the interconnectedness of these factors and how they all contribute to overall health and happiness.

2. The YuLife app

When your employees sign up with YuLife, they all get access to the YuLife employee app. This provides a user-friendly platform where employees can access a variety of resources and tools to support their wellbeing. 

3. An engaging and gamified experience

The YuLife app also gamifies healthy behaviors, making it fun and rewarding for employees to engage in activities like walking, cycling and meditating. Doing so will earn them points, which can be redeemed for rewards like gift cards, gift cards, discounts, and donations to charities. 

This gamification element helps to motivate and sustain employee engagement in the long term.

4. Data-driven insights

Employees benefit from these healthy behaviors, both directly and indirectly, and employers do too in terms of lower premiums. 

At the same time, the YuLife app provides employers with valuable anonymized data and insights into the overall health and wellbeing of their workforce. This data can be used to identify areas of need and tailor interventions to specific groups of employees.

Employees can also receive personalized recommendations and support based on their individual health data and goals. 

This personalized approach ensures that employees get the most out of the YuLife platform and can make lasting positive changes in their lives.

5. Improved outcomes

All of the experiences companies have had with us across the world (from the UK to the US to South Africa to Japan) have shown the number of positive outcomes that are possible for employees when you focus on workplace wellbeing. 

The YuLife app has helped improve countless employees’ mental and physical health, reduced their stress, and increased their productivity. And all of these improvements have then translated into benefits for the business, such as reduced absenteeism, lower healthcare costs, and increased employee retention.

In short, partnering with YuLife can be a valuable investment for employers who are serious about improving the wellbeing of their employees. The platform's comprehensive approach, engaging features and data-driven insights can help employees make lasting positive changes in their lives and improve the overall health and performance of the organization.

Want to learn more? Reach out to our support team today.