Half of all SME employees put recognition and more flexible working options top of their wellbeing needs Legal & General research reveals

• Recognition for work well done represents the top thing that would improve wellbeing in the workplace for around 7.6m employees working for UK SMEs
• Line Managers - the very people to whom most teams look for recognition – also seek acknowledgement for work well done, placing this as their top answer too (38%).
• Offering more flexible working comes a very close second
• Legal & General Wellbeing at Work Barometer finds that wellbeing means different things to different people, so usage and value depends on multifaceted programmes and tailored communication

As SMEs emerge from the pandemic and with further changes to restrictions, it seems they have another challenge to face – the refreshed interest in and demand from employees to work in a company that meets their wellbeing needs. Legal & General Group Protection’s ‘Wellbeing at Work Barometer’¹ found that recognition for work well done (45%) as well as more flexible working options (44%) are amongst the top requirements for almost half of all SME employees across the UK. With SMEs accounting for 99.9% of the UK business population, employing around 16.8 million employees², Legal & General looked at what workplace wellbeing really means to employees, finding that SME employers need to adapt and build a multifaceted approach to reflect a variety of needs across different workforce cohorts.

‘A job well done’: Recognition for work well done has the most positive impact for wellbeing of SME employees

In terms of what employees think would improve their own personal wellbeing, there was broad agreement that recognition for work well done (45%) would have the most positive impact, closely followed by the provision of more flexible working options (44%).. Responses varied by age and gender as follows:

‘Health is wealth’: Physical and mental health play a more significant role in overall wellbeing for women and for 55s and overs

The survey found that while overall, feeling mentally well was the top wellbeing priority (61%), it is more important for some groups than others. Three quarters (74%) of women rated feeling mentally well as an important part of wellbeing compared to just over half (54%) of men. It was also a priority in older age groups, with 76% of those aged 55 and over saying it was important, falling slightly to 67% of those aged 35 to 54. The younger cohort of 18 to 34 year olds had less than half (49%) saying it was important.

Good physical health is often cited as a key factor of wellbeing (54%) and the survey found that being in good physical health was more important for women (71%) than men (44%) and was rated higher by over 55s (68%) compared to under 35s (42%).

‘Climbing the career ladder’: Younger people prioritise financial health and career opportunities

While older people see their wellbeing needs more in the physical health space, younger workers’ priorities are more evenly spread, with almost equal weighting placed upon mental (49%), physical (42%) and financial health with over four in ten 43% citing having long term savings in place. Having good work acknowledged by colleagues and bosses scored 40% with younger workers with good career development opportunities scoring 29%.

For the 55 and overs, when it comes to wellbeing, job security takes precedence. A third (33%) rate this highly in terms of their workplace wellbeing, compared to one in four 35 to 54 year olds (25%) and just over one in five under 35s (23%).