Employee well-being has dropped across the board over the past year, for all age groups and across all major metrics, according to poll results RBC Insurance released Tuesday.
Overall, 56% of respondents rated their well-being as excellent or good, down from 65% last year. Self-reported mental health ratings fell seven percentage points to 52%, physical health dropped six points to 53% and financial health slipped two points to 42%.
Despite recording the smallest decline, financial health remained a significant concern. More than half of respondents, 51%, cited the rising cost of living as a primary barrier to their well-being.
“Financial pressures are affecting how people sleep, their stress levels and their ability to prioritize their fitness and nutrition,” Tony Bruin, head, group benefits, RBC Insurance. “When employees are worried about making ends meet, their physical and mental health becomes secondary.”
The steepest decline was among workers aged 18 to 34, whose overall well-being score fell 18 percentage points to 49%.
Younger workers tend to have fewer accumulated assets, higher debt loads and greater exposure to housing affordability challenges, leaving them with less financial security, Bruin said.
Respondents said they were most interested in improving their physical fitness (57%), followed by diet and nutrition (48%) and sleep quality (47%).
While personal discipline plays a role, group benefits can address barriers that individuals cannot overcome alone, Bruin said. Supports could include preventive health care, nutrition counselling and sleep apnea equipment.
Employers also frequently overlook specific areas of need, including women’s health, Bruin said. Relevant benefits could include fertility programs and menopause support.
For more individualized needs, he suggested employers consider personal spending accounts and employee assistance programs that give workers greater flexibility.
“Employers need to survey their workforce about their priorities … and what would make the biggest difference in their lives,” Bruin added.