Aon Survey Finds Improving Employee Wellbeing Factors Can Enhance Company Performance in China

Aon has published its 2022-2023 Global Wellbeing Survey China Insights, which – among other key findings – shows that improving employee wellbeing factors can enhance company performance by at least 11 percent and up to 55 percent. There is a relationship between wellbeing and a sustainable working life, which can impact company performance. The higher an employer's ratings are in overall employee wellbeing, culture and climate of wellbeing, performance of wellbeing initiatives and funding allocation toward wellbeing, the better their scores are in workforce resilience, agility and belonging, which make a sustainable working life. 

Aon conducted the survey of human resources and benefits leaders from more than 1,100 companies across 46 countries and territories and multiple industries in collaboration with IPSOS, a leading global market research company, from August to November of 2022. The survey finds that globally employers are increasingly prioritizing wellbeing programs, in both recognizing the issue and aiming to take action.

Nearly two-thirds (69 percent) of Chinese respondents said that wellbeing is more important to their company since 2020, and just over half (51 percent) said that employee wellbeing has increased in priority in that same timeframe. Eighty-three percent of companies have at least one wellbeing initiative in place and 80 percent reported having a wellbeing strategy.

Wellbeing is a key component of an organization’s workforce strategy. Integrated as a people and performance approach, the framework for wellbeing balances the appropriate resources, opportunities and commitment needed to achieve optimal health, resilience and sustainability for the individual, team, leadership, organization and community. In China, 44 percent of companies say they have increased their investment in wellbeing, compared to 43 percent globally. The allocation of funding toward wellbeing varies, with about 8 percent of companies allocating more than 5 percent of their benefits funding toward wellbeing, compared to 38 percent of companies allocating 2-5 percent of their benefits budget.

For companies in mainland China, “attracting and retaining talent” has become their top priority, higher than “staying innovative” and “meeting financial targets and stakeholders’ needs,” which ranked as the top two priorities in 2020. Also, over half (52 percent) of the companies said their culture is “people-oriented, friendly and collaborative,” which shows that employee wellbeing issues have become a key focus for Chinese companies in recent years.

“Recently, an employee wellbeing strategy is not just a HR issue - it is closely related to business growth,” said Fan Sun, head of Health Solutions for China at Aon. “An overall and scientific wellbeing strategy must cover five perspectives of health: physical, mental, social, financial and career. It’s the basis for a talent strategy, and an important step toward sustainable development as employers make better-informed decisions that help build a more resilient workforce.”

Additional findings for China from the global report include:

• Employee wellbeing is a top priority for Chinese companies, as 23 percent of Chinese companies report it as one of their top three priorities.
• Despite the importance and increase in investment, only 35 percent of companies rate overall employee wellbeing as “excellent” or “very good.”
• 56 percent of respondents rate mental health as a top employee wellbeing issue, followed by burnout at 46 percent and working environment and culture at 31 percent.
• Employee wellbeing initiatives performed well, with 32 percent of companies rating their programs “exceptional” or “above average.”
• More organizations are strategically integrating wellbeing into company culture and other business strategies. Seventy-nine percent of employers say wellbeing is fully or partially integrated into their overall business and talent strategy and 84 percent have integrated diversity, equity and inclusion and total rewards, while 68 percent have integrated environmental, social and governance into their wellbeing strategy.

Explore findings of Aon's 2022-2023 Global Wellbeing Survey China Insights here.

About Aon

Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries and sovereignties with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.

Disclaimer

The information contained in this document is solely for information purposes, for general guidance only and is not intended to address the circumstances of any particular individual or entity. Although Aon endeavours to provide accurate and timely information and uses sources that it considers reliable, the firm does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose of any content of this document and can accept no liability for any loss incurred in any way by any person who may rely on it. There can be no guarantee that the information contained in this document will remain accurate as on the date it is received or that it will continue to be accurate in the future. No individual or entity should make decisions or act based solely on the information contained herein without appropriate professional advice and targeted research.