A quick summary:
- Using a wellbeing platform for employees during a recession
- How your business could save thousands of pounds on recruitment
- Helping employees maintain the lifestyle that works for them
- Why a wellbeing platform for employees can strengthen health and happiness
- How does Heka help companies combat poor emotional health?
- Other reasons to consider Heka
- Our conclusion on health and wellbeing in the workplace
Heka, pronounced “Hee-ka”, is a wellbeing platform for employees, providing experiences, products and services across 50+ categories. During the global pandemic, Heka evolved into the product that our thousands of members know and love today.
From mental health support to e-learning and holistic wellbeing classes, there’s something for anyone and everyone. Heka is a wellbeing platform for employees that’s been built to offer a personalised experience. The sheer variety on offer means employees take control over their benefits and can focus on what matters most to them.
Employers provide a monthly allowance, which typically ranges from £30 to £80 per month – although this is entirely flexible and dependent on each employer to set. Each month, a new allowance is delivered to employees, and they are able to book a recommended experience or choose to sift through more than 3,000 experiences.
We want to highlight why – in light of a recession, and with all the instability in the world – Heka remains the go-to wellbeing platform for employees. We’re going to walk you through the positive impact of our product and the reasons why your employee wellbeing strategy can be a make or break.
Similar read: 7 Considerations before choosing an employee benefits platform
Using an employee wellbeing platform in the midst of a recession
First thing’s first, the looming recession. Unfortunately, the UK faces harder times to come. As inflation reaches all-time highs and the cost of living soars, the road ahead is dark.
With an eat or heat epidemic on the horizon, workplaces face an increase in resignations and redundancies. Workers will find it harder to stay afloat, thus needing to look at their career and consider a move.
What’s more, employers face losing their best talent. Businesses need to retain their people to grow and thrive. If people leave, businesses must rethink their targets and milestones. If anything is clear, it’s that the recession presents obstacles and struggles for both employers and employees.
While the near future looks bleak, there are ways to support employees during times of instability and hardship. That’s exactly where our wellbeing platform for employees comes into the picture.
Saving thousands of pounds for your business during hard times
With a wellbeing platform for employees like Heka, your business could save thousands! Yes, you read that right. Through our research, our team found that the average costs involved in replacing an employee can be enormous.
Firstly, the average salary in the UK is thought to be around £30,000 per annum. However, CentricHR reported that the estimated costs of replacing an employee are between six and nine months of salary.
This means that an employee on £30,000 per annum would cost £22,500 without taking into consideration taxes and National Insurance. Here’s the rest of the maths behind replacing an employee:
£2,500 x 9 months = £22,500
This figure takes into consideration everything. From the time it takes to write up job descriptions and publish them on job sites, to recruiting, training and more. All-in-all, it’s not a cheap investment to replace an employee.
Considering Heka can cost less than an ordinary pay rise, losing an employee due to economic instability, unhappiness or poor health can cost upwards of tens of thousands. It’s very clear from this point alone why a wellbeing platform for employees, like Heka, makes for such a great investment.
Similar read: Is the UK heading for a recession?
Employees can maintain the lifestyle that works for them
In addition to employers saving thousands, employees can continue to enjoy the wellbeing experiences they do daily or weekly. Generally, gym memberships cost between £20 - £50 per month.
As a recession erupts in the UK, millions may find themselves unable to pay their memberships. What’s worse, regular exercise has proven to reduce stress levels, and without access to fitness alone, employee stress and anxiety could increase.
Employers must also remember that gym memberships – for some people – are just part of a much larger list of health and wellbeing experiences they enjoy regularly. As the recession creates financial instability for employees, the consequence it has on their lifestyle will hinder personal health and wellbeing.
Ultimately, if a wellbeing platform for employees can help them continue life as usual during a recession, it’s a great investment.
Heka’s wide variety of experiences means employees are likely able to avoid cutting back on the things they enjoy most. As employers contribute a monthly allowance to each employee, they can spend this allowance on whatever they want.
Strengthening employee wellbeing at times of high stress and anxiety
There’s an age-old truth about performance and emotional wellbeing. When we are suffering emotionally – be it stress, anxiety or other emotional health issues – we’re unable to perform at our best. We’re less productive and less focused.
For this reason, the looming recession should be a wake-up call for employers. They must begin to support their employees, as many did during the pandemic. When COVID-19 hit, thousands of employers embraced mental health support for their staff. Times were hard, and with many of us working remotely, employers needed to act.
The present-day mimics the demand for employee wellbeing as it did just two years ago. People are stressed about the financial consequences of a recession, stressed about cutting out hobbies and interests to claw back cash, and just generally stressed with the ‘always-on’ culture we live in.
How does our wellbeing platform for employees combat poor emotional health?
So, we’ve identified the need for better health and wellbeing in the workplace in hard times. The question now is, how does Heka help solve this problem?
Heka doesn’t offer a single product that isn’t health and wellbeing orientated – it’s what our platform lives and breathes. This means that everything that can be bought on Heka is in the name of health and happiness.
Given the emotional turmoil of a recession, Heka is the mood booster that employees need. It gives them the control to personalise their health and wellbeing and really focus on themselves.
For employees that are struggling with their personal finances (causing them great emotional stress), Heka provides financial coaching and education. For employees who are going through hard times in their personal lives, Heka provides counselling support, meditation experiences like breathwork and more.
Other reasons why Heka is a go-to wellbeing platform for employees
In addition to the ideas outlined above, Heka is the go-to wellbeing platform for employees for a heap of other reasons. Times are changing, and employee demands have evolved.
It’s become surprisingly apparent how world events can influence these employee demands. As the pandemic grew, so too did the demand for flexible working. And as society continues to evolve, the needs of the global workforce will take shape yet again.
Heka supports the demands of younger generations in the workplace
Talking about the future, let’s discuss the demands of younger generations in the workplace. What makes Heka the go-to wellbeing platform for employees is the sheer variety. But that isn’t what will keep organisations hooked.
As millennials and Gen Z make up the vast majority of the workforce, the workplace will need to adjust its offering. Everything from the ways of working to the benefits available.
There is ample research to suggest that younger generations are more invested in fitness equipment, healthcare, gym memberships, and generally being more health conscious with their everyday purchases.
Researchers also found that Gen Z struggles with their mental health more than older generations. In one survey, only 45% of those in the Gen Z segment described their mental health as “good” or “excellent”.
However, when asked the same set of questions, Gen Xers and boomers rated their mental health higher at 51% and 70% – demonstrating a huge difference between each generation.
Conclusion on our wellbeing platform for employees
As we’ve explored, health and wellbeing need to be a priority for employers. Employees are willing to wait less and less for leaders to step up and support them. From generational demand to a recession-proof solution, there’s so much to consider when it comes to health and wellbeing at work.
It’s clear why Heka is the must-have wellbeing platform for employees in 2022 and beyond. With more than 3,000 experiences across 50+ categories, organisations up and down the UK are quickly recognising the power of Heka.
It’s always been our goal to drive personalisation and offer a wide variety – and we believe Heka is at the forefront of personalised wellbeing.
Enough about us, it’s time to talk about you and your business! We’d love to invite you to discuss your employee wellbeing needs with our wellbeing experts. You’ll receive a full walkthrough of our wellbeing platform for employees, exploring the many benefits to be had. So, why not book a demo?
Alternatively, if you’re not quite for that, find out more about Heka. That way, you can learn more about our wellbeing platform for employees before booking a demo. Want to know what other organisations think about Heka? Head across to our case studies!