The well-being of an employee has become a guarantee of commitment and dedication to the position. Until a few years ago, labor well-being was linked, above all, to the salary that the worker received. But following the incorporation of Generation Z into the world of work, the development of new human resources policies and the arrival of Covid-19, workers increasingly value other issues for their professional satisfaction.
Now factors such as physical and psychological health, training, respect for equality, conciliation or insurance contracting come into play.
Emotional well-being: a challenge for companies
The importance of health in companies has been growing in recent years, as confirmed by the X-ray of Health in the Company, presented by Savia, Mapfre’s digital platform. For this reason, it is not surprising that private insurance is the financed service most in demand by employees. 66% of those surveyed consider it important that their company offers health and wellness services, a percentage that increases to 73% in the case of workers who already receive these services.
In the case of the youngest, between 18 and 34 years old, the report confirms that they are more akin to services focused on emotional well-being, since they prioritize psychological care. While women prefer psychological assistance and wellness workshops, men of this age opt for medical chats and video consultations with psychologists. This factor is due to the fact that, due to their youth, they generally need to go to the doctor less because of physical problems. However, they have greater awareness regarding prevention and psychological self-care.
Health and emotional salary are two crucial factors for Generation Z. More than 60% would leave their job if their company does not offer contingency plans to improve their psychological context, as confirmed by Cobee’s 2023 Employee Benefits Report . For this reason, companies must pay special attention to the youngest, in order to adjust their compensation plans to their real aspirations.
Certainly, the pandemic has shown its social benefits in companies. As confirmed by Cobee, regarding 58.9% have modified their configuration, 15.9% have added benefits related to physical health (gyms, subscriptions or virtual classes), 15.1% have added benefits related to mental well-being, including health insurance coverage, psychological therapies, workshops, coaching, etc. On the other hand, 11.2% have improved benefits related to financial well-being, including pension plans, retirement or life insurance.
The context weakens the mental health of the Z
The workplace has an impact on the emotional health of all workers, simply because work is needed to earn money and live with dignity. It is not an issue that can be modified, therefore, it is crucial that mental health leaves that space confined to the private context and is understood as a social, economic and, above all, labor context.
Mental health problems have increased in recent years, especially among young people. The European Union currently allocates between 3% and 4% of GDP in spending to solve the psychological problems of Generation Z. In addition, as confirmed by a study carried out by the Occupational Health Research Center (Cisal) of Pompeu Fabra University and the Hospital del Mar Institute in Barcelona, unstable contracts and job insecurity increase mental health problems in the medium and long term of young people.
In this context, more and more insurers are including psychological and psychiatric assistance services in their health insurance. Although the conditions in which this service is offered are not the same in all insurances.
In this way, companies must compare all the coverage offered by each insurer and their prices before opting for one insurance or another. Each insurer sets its conditions and levels of protection for its health insurance.
Insurance companies not only benefit young workers by incorporating better services and coverage into their insurance. They are also positioned among the companies with the highest social benefits. This is demonstrated by the latest international ranking prepared by Cobee, in which Mapfre and Sanitas stand out for their social benefits, flexible remuneration (savings plans, training, health insurance, etc.) and work-life balance.
