Aon Study: Over 60% of Romanian companies have implemented wellbeing strategies among their employees

Aon Romania, one of the leading global insurance brokers, announced on Wednesday, 14th of June, the study results concerning employee benefits in Romania during the HR Breakfast event. The speakers, Armina Dobrică, Senior Consultant, Wellbeing & Culture, and Adrian Low-Vesa, Director of Health & Benefits Practice, discussed the degree of adoption of employee benefits and wellbeing programs within Romanian companies, as well as the main trends of the industry HR.

The concern for the health and wellbeing of employees has increased significantly in recent years. Global studies conducted by Aon proved that the practice has a positive impact on the satisfaction and performance of employees. 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 wellbeing strategy, 28 percent more compared to 2020. Companies’ programs in this regard emphasize the financial and professional component, with a percentage of 54%, followed by emotional (51%), physical (50%), and social (47%).

“This year, 67% of the companies have wellbeing strategies already implemented, with 4 percent more than the previous year. Interesting to note is that companies’ priorities changed. If last year, after the COVID-19 pandemic, emotional wellbeing was the main priority, this year, the focus is on the work-life balance. Financial wellbeing is the less addressed by Romanian companies”, declares Armina Dobrică, Senior Consultant, Wellbeing & Culture at Aon Romania.

Aon Romania conducted a survey 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, followed by companies with resources between 101 – 250, 21%, and over 1001, 18%.

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 600 RON per employee to over 3000 RON.

“Considering the market median, the deductibility limit is around 400 euros, 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”, declares Adrian Low-Vesa, Director of Health & Benefits Practice Aon România.

Besides medical services, the strategies for employee wellbeing 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, 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. As important is financial stability. Considering our country’s low level of financial education, I believe that organizations could become promoters for more effective personal financial planning. A private pension plan started very early in life makes retirement much more comfortable”, declares Armina Dobrică, Senior Consultant, Wellbeing & Culture Aon Romania. “The percentage increases yearly, but there is no effervescence in this sense. Companies are looking to invest in tangible solutions like medical coverage that can be accessed easily and quickly. The private pension is a long-term benefit, the results of which are seen quite late”, adds Adrian Low-Vesa, Director of Health & Benefits Practice.

The event ended with a panel discussion attended by Dana Oanea, Global Benefits UiPath Manager, Gabriela Pui, Compensation and Benefits Manager Holcim, and Irina Manu, Wellbeing Program Manager Ubisoft. The guests shared with HR professionals present at the event success stories from their organizations, how their companies approach topics like wellbeing or diversity and inclusion, what initiatives implemented had the most significant impact, and what they learned from past experiences with such programs.

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