One in five companies (21%) with overseas employees state they do not offer enough health and wellbeing support and that this impacts their ability to recruit and retain people, according to figures released today by Towergate Employee Benefits.
Sarah Dennis, head of international at Towergate Employee Benefits, says: “With companies struggling to recruit and retain the right talent abroad, employee benefits – and health and wellbeing support in particular – have become an increasingly vital element.”
Indeed, a global study reports that 74% of employers are struggling to find the skilled talent they need. By sector, the biggest talent shortages were found to be in Healthcare & Life Sciences, followed by Energy & Utilities, and IT. Geographically, the biggest talent shortages are found in Germany, followed by Israel, Portugal, Ireland, Romania, Singapore, Brazil and Hong Kong. In those countries, over 80% of employers stated they struggle to find skilled talent, compared to 76% in the UK and 71% in the US.
Sarah Dennis comments: “The value of health and wellbeing support to employees working overseas should not be underestimated. Often, for globally mobile talent, the benefits and support they are offered are more important than the salary. We find this to be particularly true for competitive industries that struggle to recruit, such as Tech and IT.”
Health and wellbeing as a key differentiator
Health and wellbeing benefits can be a key differentiator in the drive for employers to address their global talent shortage and this will be particularly important in the New Year when companies begin their January recruitment processes. Offering diverse benefits allows the overall package to cater for a range of employee needs and, along with clear communication, can create the competitive advantage needed in a difficult market. This is reinforced by the research findings from Towergate Employee Benefits:
41% of companies with overseas employees state that the way they support health and wellbeing is a key reason people choose to work for them
37% of companies with overseas employees state that the way they support health and wellbeing is a key reason people choose to stay with the company
35% of companies with overseas employees state that the support offered for health and wellbeing helps to recruit and retain key demographics of talent, for example, age and gender
Focus on holistic wellbeing
A holistic view of wellbeing is particularly important for overseas employees. Benefits that encompass mental, physical, social and financial health is vital. This not only helps to keep employees fit and healthy for work but also demonstrates the employer’s commitment to its people.
Preventative healthcare should be considered too, from proactive health management like fitness apps and gym memberships, to screening and risk profiling for common conditions.
Know the market
It is vital that global employers have an in-depth understanding of the market so they know which benefits are going to be the most appropriate and most attractive to offer. This includes having an understanding of the recruitment challenges by country and also by industry. For example, Germany has one of the highest-skilled labour shortages in Europe, where healthcare, engineering, IT, and construction are among the industries with the greatest shortages in skilled labour, and immigration policies have even been eased to help improve the situation. It is important for an employer to be aware of such circumstances, so they can adjust the employee benefits they offer to make sure they support their recruitment and retention strategy.
‍Sarah Dennis concludes: “Knowledge is power when it comes to employee benefits. Knowing what support is most appealing to which potential employees, what is most likely to keep existing talent healthy and satisfied, and where it may be necessary to up the ante, is all vital information in ensuring health and wellbeing supports the company in its global recruitment and retention success.”
Research conducted by Opinium on behalf of Towergate Employee Benefits among 500 HR decision makers across the UK from 7 to 16 January 2025.
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