LSPK LifeSpeak Inc

Findings reveal women are less comfortable talking about mental health in the workplace, while women of color are more likely to have considered quitting due to mental health and wellbeing needs

TORONTO, Jan. 17, 2023 /PRNewswire/ - LifeSpeak Inc. (TSX: LSPK) a leading global workplace wellbeing solution for employers and health plans, today released the findings of a new research study that examines the connection between employee belonging and wellbeing. In addition to uncovering a connection between high belonging scores and positive wellbeing outcomes, the study also indicates that disparities exist between men and women when it comes to workplace mental health. 

"The hiring and retention trends of recent years have made it clear that individuals want more from their employers than just a paycheck. Employees are making job choices based on an alignment of values and cultural factors, such as diversity, inclusion, and support for wellbeing and a balanced life," said Michael Held, founder and CEO, LifeSpeak Inc. "Our latest research underscores these trends and suggests that by focusing on creating a healthy culture and supporting whole-person wellbeing, employers can create a sense of belonging that has a ripple effect of positive health and business outcomes."

The goals of this study were to measure how employees perceive their own physical and mental wellbeing in connection to the workplace benefits their employers offer; gauge employer vs. employee perceptions of cultural wellbeing support; and explore the connection between workplace wellbeing strategies and employer outcomes. Key findings revealed the following:

• Employees with low belonging scores are 59% more likely to consider quitting their job due to mental health concerns.
• 61% of employees with low belonging scores said their employer "doesn't prioritize their wellbeing."
• Employees felt less comfortable talking about their health and wellbeing needs at work in 2022 (52%) compared to 2021 (60%).
• Women are 30% more likely than men to say their employer doesn't offer a culture of health and wellbeing.
• Employees of color are 50% more likely to use employer-sponsored health and wellbeing resources on a monthly basis.
• Working mothers are three times more likely to feel unsure of talking about mental health in the workplace.
• Women of color are 22% more likely to have thought about quitting their jobs in the last 18 months due to health and wellbeing concerns.

Understanding how employees perceive the workplace culture and the disparities that can exist between demographic groups within an organization can allow human resources teams and business leaders – from the C-suite to front-line managers – to create an environment where all employees feel safe and supported. 

"Quantifying the connection between employee belonging, workplace culture, and benefits is important not only for HR, but C-suite leaders should also take note," said Held. "Because when employers consistently and authentically commit to nurturing a culture that supports employees with relevant and accessible benefits, they can mitigate negative employment trends, while bolstering business performance."

For example, the study showed companies that follow workplace wellbeing best practices also report that employees are more productive (18%), prospective employees are easier to recruit (nearly 14%), and their workforce is more likely to be highly engaged (nearly 8% greater engagement). 

"This intelligence adds to the growing base of knowledge about workplace health and wellbeing, and the crucial role that employers and business leaders at all levels of an organization play in creating a culture that allows employees – and businesses – to thrive," said Held.

Conducted by Lighthouse Research & Advisory, the study consisted of surveys with 1,000 individual employees and 1,000 human resources professionals in the fall of 2022. To learn more about this research or to download the full report, visit: https://lifespeak.com/doc/lighthouse-report/.

LifeSpeak Inc. is the leading whole-person wellbeing solution for employers, health plans, and other organizations. LifeSpeak Inc.'s suite of digital solutions allows organizations to provide best-in-class content and expertise at scale, empowering individuals to live their healthiest lives. As the parent company to LIFT Digital, ALAViDA Health, Torchlight, and Wellbeats, LifeSpeak Inc. provides a flexible portfolio of wellbeing solutions across mental health, wellness, fitness, nutrition, substance use, and caregiving. LifeSpeak Inc. has more than 30 years of collective experience working with Fortune 500 companies, government agencies, insurance providers, and others across the globe. Insights from LifeSpeak Inc.'s digital and data-driven solutions uncover gaps in wellbeing at the individual and organizational levels, ultimately enhancing workplace performance outcomes. To learn more, follow LifeSpeak Inc. on LinkedIn, or visit www.LifeSpeak.com.

Lighthouse Research & Advisory is a human capital management research firm that guides and advises today's most innovative employers and HR technology providers. From recruiting and learning to employee wellbeing and engagement, the groundbreaking research performed by Lighthouse helps to guide critical talent decisions and strategies for organizations around the world. Every year, more than 10,000 employers interact with Lighthouse via its events, research, advisory, and other resources. Learn more at LHRA.io

This press release may include "forward-looking information" within the meaning of applicable securities laws. Such forward-looking information may include, but is not limited to, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates, and intentions, and individuals' participation in LifeSpeak Inc.'s programs.

In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology and phrases such as "forecast", "target", "goal", "may", "might", "will", "could", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe", "predict", or "likely", or the negative of these terms, or other similar expressions intended to identify forward-looking information, including references to assumptions. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding possible future events, circumstances or performance.

Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered reasonable by LifeSpeak Inc. as of the date of this release, is subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking information include, but are not limited to, the risk factors identified under "Risk Factors" in LifeSpeak Inc.'s annual information form for fiscal year ended December 31, 2021 dated March 30, 2022, and in other periodic filings that LifeSpeak Inc. has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under LifeSpeak 's SEDAR profile at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect LifeSpeak Inc. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking information, which speak only as of the date of this release. LifeSpeak Inc. undertakes no obligation to publicly update any forward-looking information, except as required by applicable securities laws.

View original content:https://www.prnewswire.com/news-releases/its-good-to-belong-new-research-examines-the-influence-of-employee-belonging-on-wellbeing-quiet-quitting-and-employee-engagement-301723295.html

SOURCE LifeSpeak Inc.