Health & wellbeing allowances
What are Health and wellbeing allowances?
A health and wellbeing allowance is a budget given to employees that can be used on a variety of benefits that aim to improve their mental, physical, or financial wellbeing.
Some companies choose to offer this allowance as an annual allowance, whereas others might give employees a monthly budget — it's all about what works best for your team!
At Ben, we work with a bunch of leading health and wellbeing benefits providers to help you best support your team.
Why should you offer health and wellbeing allowances?
Looking after employee health and wellbeing is pretty much a no brainer for companies. But here's exactly how it can help...
Benefits to your employees:
- Improved mental health and mood
- Improved fitness which often translates to higher motivation levels
- Happier employees due to feeling cared for and supported by you.
Benefits to you:
- More motivated employees!
- Improved employee retention. For example, a Wellness at Work Report found that 75% of workers are loyal to a business if they feel they are committed to their wellness.
- Great ROI! Did you know that good employee engagement are 22% more profitable than those without.