LifeSpeak Inc. Spotlights Four Wellbeing Trends That Will Shape Employee Engagement During Open Enrollment

Mental health, parenting and caregiving, substance use, and fitness and nutrition are high-demand benefits that can improve employee satisfaction, boost productivity, and reduce turnover

MINNEAPOLIS, Oct. 15, 2024 /PRNewswire-PRWeb/ -- Today's employees expect more than just a paycheck. They're seeking employers who prioritize their holistic wellbeing—offering personalized support and demonstrating genuine care. That's why LifeSpeak Inc.(TSX: LSPK), the leading provider of mental, physical, and family wellbeing solutions for employers, health plans, and other organizations, is highlighting four key wellbeing trends that influence employee engagement, benefits utilization, and long-term satisfaction and retention.

"Employers and human resources professionals genuinely want to do the right thing for their employees and their dependents, but keeping up with trends and available solutions can be overwhelming. Fortunately, LifeSpeak Inc. addresses this challenge and makes it easy for organizations to meet the needs of their entire population with our comprehensive suite of whole-personal wellbeing solutions," said Michael Held, founder and CEO of LifeSpeak Inc. "As employers conduct open enrollment meetings in the coming weeks, it's important to understand key trends that will shape the decisions employees make, so they can provide the right solutions and education."

4 Wellbeing Trends That Will Shape Benefits Enrollment

1. Support for individual and family mental health. According to recent reports, 92% of workers said it's important to work for an organization that supports their mental health. Yet, less than half reported having access to health insurance that included coverage for mental health. LifeSpeak Mental Health & Resilience addresses this need by giving employees access to a comprehensive collection of expert-led resources that support mental wellbeing and help bridge the gap between unaddressed mental health and other life challenges and professional interventions. LifeSpeak provides a comprehensive library of content, including videos, tip sheets, articles, expert-led web chats, and podcasts. Topics range from mindfulness and stress management to personal and professional development and financial wellbeing. One public sector organization that offers this solution reported a 19% decrease in sick day utilization after implementation, while a large tech company saw a 10.8% reduction in mental health claims within a year of offering LifeSpeak's Mental Health & Resilience.
    
2. Growing interest in sobriety and substance use care. According to Manulife's Employee Health Report, substance use challenges are increasingly affecting workers and workplaces across industries. In 2023, this resulted in a 17.2% year-over-year increase in claims related to substance use disorders. Meanwhile, younger workers are driving the sober curious movement and are looking to develop a healthier relationship with alcohol. ALAViDA Substance Use, a product of LifeSpeak Inc., helps employees across all stages of substance use, not just those with a clinical diagnosis. ALAViDA's private and confidential resources are available 24/7 to anyone who wants to change their relationship with substances. Members can work with a dedicated care team or choose a self-directed approach to regain control over their substance use. Among its 4.5 million members, ALAViDA reports that 80% reduced their consumption, 76% reduced the severity of use, and 68% said they gained a greater sense of self-control.
    
3. Urgent need for parenting and caregiving support. New data from the Surgeon General's advisory report shows that 48% of parents say their stress is completely overwhelming most days, and 33% reported high levels of stress compared to only 20% of other adults. Torchlight Parenting & Caregiving, a product of LifeSpeak Inc., gives working parents the help they need to manage the stressors that come with caring for a child, adult dependent, or elderly loved one. Torchlight supports caregivers with a comprehensive suite of resources, including educational materials, connections to local and national support networks, and, where available, personalized concierge services to address their unique needs. Torchlight users report collective savings of 403,730 hours per year and more than $1 million in out-of-pocket expenses that would otherwise have been spent on caregiving support.
    
4. Continued interest in fitness and nutrition. Interest in fitness and nutrition continues to grow, both for general wellbeing and as a key component of weight management strategies. For some, this includes exploring medications like GLP-1s, but for everyone, healthy eating and exercise are crucial. However, high stress levels and packed schedules mean hitting the gym and finding time to prepare healthy meals is a challenge. This is why fitness benefits that allow people to work out at home are in high demand, with 64% of employees saying they would use on-demand fitness classes if their employer offered them. However, less than 1% of employers have such an option available. Wellbeats Wellness, a product of LifeSpeak Inc., delivers fitness, nutrition, and mindfulness classes for all ability levels. Classes include popular options like yoga, HIIT, strength training, running and walking, nutrition, cycling, dance, work breaks, and stretching. Employers choose Wellbeats because it appeals to every employee demographic, with more than 1,400 expert-led class choices and 3 million users in over 90 countries.

"Creating a workplace culture where employees feel safe talking about wellbeing goals or needs is foundational to reducing stigma and the sense of isolation employees can experience when their overall wellbeing isn't in balance," said Held. "However, employers that provide easily accessible and relevant tools and resources, can help employees proactively manage day-to-day stressors before they adversely impact their home lives or workplace performance."

About LifeSpeak Inc.
Celebrating 20 years of supporting wellbeing, LifeSpeak Inc. is the leading provider of mental, physical, and family wellbeing solutions for employers, health plans, and other organizations across the globe. With a suite of digital solutions, LifeSpeak enables organizations to deliver best-in-class content and human expertise at scale, catering to individuals throughout their wellbeing journeys. The LifeSpeak Inc. portfolio of solutions spans every pillar of wellbeing, including LifeSpeak Mental Health & Resilience, Wellbeats Wellness, Torchlight Parenting & Caregiving, ALAViDA Substance Use, and LIFT session Fitness. Insights from LifeSpeak's digital and data-driven solutions empower organizations and individuals to take impactful action to strengthen wellbeing and maximize workplace performance. To learn more, follow LifeSpeak Inc. on LinkedIn, or visit http://www.LifeSpeak.com. Because wellbeing can't wait.

Media Contact

Barbara Tabor, LifeSpeak Inc., 6512309192, [email protected], https://www.lifespeak.com/

SOURCE LifeSpeak Inc.