Russell Glass, CEO and founder of Headspace, recently spoke with LinkedIn News UK to explain how companies are now rethinking their employee benefits packages amid challenging economic conditions.
He also explains that businesses are wanting to offer employees one platform for mental healthcare and wellbeing benefits, rather than multiple subscriptions to lots of different apps and services.
The increase in employee benefit packages and company perks came around during the pandemic, with businesses offering employees things such as discounted gym memberships, mental health days allowance, workplace yoga sessions, and much more.
But are businesses starting to pull back on them as a global recession looms?
“We’re certainly seeing some of that,” said Russell Glass.
“During the pandemic, employers were just trying to do whatever they could to support an employee base that rapidly shifted from in-office to out-of-office.”
LinkedIn data published last week suggests that the work-from-home trend may have peaked in the UK, and 75% of bosses globally are concerned that the current economic slowdown means they will have to roll back employee wellbeing initiatives.
Some companies also have “point of solution fatigue”, Russell said, adding that they would rather offer their employees access to a platform that does everything instead of multiple apps or services that do lots of different things.
Headspace, which acquired on-demand mental healthcare provider Ginger last October, is trying to become the go-to company for mental health. Last week at the Web Summit tech conference, Headspace announced that it is bringing together its main app with Ginger’s on-demand coaching, therapy and psychiatry services.
“By bringing these two things together we’re basically creating a single destination for mental health and wellbeing support where everybody can come in through the same front door,” Glass said.
So, as businesses look to save money, but still provide their employees with the resources they need to look after their wellbeing - Ginger and Headspaces merge could be the answer. Find out how they could help your business here.
Read what people are saying about it on LinkedIn here, and let us know what benefits your employers are currently offering you.