Job Seekers Want Flexible Work, Health Insurance & Benefits, But Employer Investment Lagging

• When considering a new job, 76% of those surveyed said support for hybrid work is important, yet only 27% of employers intend to invest in flexible/hybrid working.
• Data shows 60% of employees want Employee Assistance Program (EAP) services, but less than a third of employers intend to invest in it.
• Medical/health insurance remains a priority for job seekers with 64% saying they want an employer to provide it, but just 29% of employers say they intend to invest in the year ahead.

New findings from the 2024 Workplace Wellbeing survey from the Employers and Manufacturers Association (EMA) and nib New Zealand (nib), reveal a disconnect between what employees seek when looking for a new job and what employers intend to invest in over the next 12 months.

The survey canvassed the views of 1,229 New Zealand workers between 1 May – 22 May 2024 and revealed growing expectations that employers should provide support services, flexible working conditions, and health insurance cover.

When respondents were asked how important certain employee benefits are when considering changing jobs, data shows a potential ‘new normal’ for New Zealand workplaces when compared with data from the last Workplace Wellbeing survey conducted in 2022:

• 83% of employees desire flexible work conditions
• 76% are looking for hybrid working arrangements
• 72% consider wellbeing initiatives and subsidies
• 64% want medical and health insurance (up from 57%)
• 60% of employees said that EAP support was important (up from 54%).

On the other hand, HR leaders and employers were asked “Which of the following wellbeing benefits / initiatives are you intending to invest in and implement in your business in the next 12 months?” which revealed insights into employers’ priorities.

While responses may include those already implementing such practices, the findings still signal a clear difference between existing benefits and employee desires. Just one third (33%) intend to invest in EAP for their employees (down from 43%) and a quarter of employees want more than the mandated parental leave (26%), but only 12% of employers are considering it.

Growing demand for health insurance

The same question also revealed that only 29% of HR leaders and employers intend to invest in medical and health insurance in the coming year (versus 34% in 2022). With two thirds (64%) of Kiwis indicating that medical and health insurance is important when considering a new job (an increase from 57% in 2022), highlighting that offering subsidised health insurance presents a significant opportunity for employers.

Other types of insurance, such as income protection (48%), life insurance (43%), and serious illness trauma insurance (42%) are also in high demand among employees.

Chief Executive of nib New Zealand, Rob Hennin, said there are long-term benefits of investing in employee health: “Offering comprehensive health insurance isn’t just about meeting employee expectations - it’s about proactively fostering a healthier, more productive workforce. Employers who invest in their employees’ health may see the benefits such as reduced absenteeism and higher job satisfaction.”

Hybrid working is key to attracting new talent

Hybrid working remains a crucial factor for employees when evaluating job opportunities – driving employee satisfaction and retention.

There’s a correlation between employees feeling happy with flexible working conditions and job satisfaction – of those who are satisfied with their employer’s approach towards flexible hours, 71% are unlikely to leave their current role, and 70% feel satisfied at work.

One survey respondent emphasised the positive impact of flexibility: “They [the employer] understand life happens and things sometimes get in the way. As a result, people feel more inclined to cover any hours they have missed.”

Alan McDonald, Head of Advocacy at the EMA, stressed the importance of adapting to these expectations where possible. “While flexible working might not suit every workplace, where it does, employers do need to consider how to introduce it and what their policy will be. For many employees, flexible working is not just a perk, it’s a necessity. Employees who are satisfied with their flexible work conditions are significantly more likely to stay with their employers, and this is a key factor in maintaining a motivated and productive team."

For the full survey results, please visit: www.wellbeing.ema.co.nz.

The 2024 Workplace Wellbeing survey, conducted by the EMA and nib New Zealand, gathered responses from 1,229 employees as well as employers. Responses to the question - Which, if any, of the following strategic HR-related programmes / initiatives are you intending to invest in and implement in your business in the next 12 months? - may or may not include those employers already implementing the mentioned HR-related programmes and initiatives.

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