The past decade has seen an employee wellbeing revolution – accelerated by the pandemic, but with continued momentum.

This shift isn’t necessarily because business leaders have become more altruistic. Rather, they’re recognising that supporting their employees’ wellbeing is not just the right thing to do, it’s also a smart business decision.

In today’s environment, offering robust wellbeing support isn’t just about compassion – it’s about staying competitive. In this article, we’ll explore key statistics that highlight why investing in employee wellbeing is vital for success, and how employee caregiver support – for sick employees and their families, or those caring for sick partners or parents, is a growing crisis in employee wellbeing. 

Wellbeing is key to recruitment and retention

Statistic #1: The UK’s job vacancy rate hit a record high of 1.3 million in the three months to May 2022, and while those figures have since fallen, they still remain near those record highs.

The impact: Employees who are dissatisfied in their roles no longer need to settle, and are actively exploring other opportunities. Surveys show that nearly 70% of UK working adults are looking for a new job this year.

Even more significantly, a quarter of the UK workforce is expected to change jobs within the next six months. Businesses that assume loyalty from their workforce might need to reassess.

After all, replacing good employees is neither easy nor cheap.

The cost of high turnover

Statistic #2: Replacing an employee can cost a business between six to nine months of that employee's salary, while the Society for Human Resource Management (SHRM) says that the total cost of hiring a new employee can be three to four times that position’s salary.

The impact: High turnover brings significant costs beyond recruitment expenses. It leads to inefficiencies, reduced productivity, and added pressure on remaining employees. This can trigger a vicious cycle where more staff leave, and time is wasted ‘covering bases’, rather than growing a business. 

Traditionally, salary increases have been the go-to solution for retention. But, surprisingly, this approach is becoming less effective.

The care crisis is the unspoken player in the wellbeing crisis

Statistic #3: 1 in 5 people (20%) are currently giving unpaid support or care to someone. The Carers UK State of Caring 2022 report found that 75% of carers in employment worry about continuing to juggle work and care.

The impact: Six in 10 unpaid carers have quit work or cut their hours, according to a survey by Carers UK. And with an ageing population, we’re only likely to see this increase – but unlike childcare pressures, caring for partners or parents isn’t as significant a part of mainstream employment policy or conversations. 

‍The care crisis is amplifying gender inequalities

Statistic #4: The ILO reports that globally, women perform 76.2% of total hours of unpaid care work, more than three times as much as men.

The impact: Women are already under-represented, with the gender pay gap a persistent agenda issue for organisations – but the role of caregiving in addressing it is under-discussed. Read our article about the relationship between DEI and caregiving. 

There’s a lack of support for caregivers 

Statistic #5: According to a 2024 report by AARP, nearly 70% of family caregivers reported difficulty balancing their job responsibilities with caregiving duties. 

Many caregivers face significant compromises in their careers as a result – 27% have reduced their working hours, and 16% have even turned down promotions or stopped working entirely to manage their caregiving responsibilities.

The lack of adequate workplace support for family caregivers compared to parents dealing with childcare issues is also evident. Some 80% of caregivers in the AARP survey agreed that companies were more understanding of childcare needs than of adult caregiving responsibilities. This indicates a gap in recognition and support for the millions of employees caring for older relatives, who often feel overlooked by their employers.

Moreover, the time commitment required for caregiving can be substantial. According to research by Guardian Life, caregivers spent an average of 26 hours per week providing care in 2023, with nearly half dedicating 10-29 hours weekly, and over a quarter spending 30 or more hours each week. 

The impact: These statistics make it clear that caregiving is effectively a part-time job in itself, adding a significant burden on top of an individual’s employment.

Caregiving has a significant impact on mental health

Statistic #6: 87% of caregivers say they suffer from depression

Balancing full-time work with unpaid caregiving responsibilities – whether for a sick partner, an adult child with a disability, or elderly parents – can be overwhelming, often resulting in illness, burnout and financial loss. A staggering 87% of employees in these situations report suffering from depression, and many are forced to take up to a month of unpaid leave each year just to manage their caregiving duties. In addition, according to Carers UK over a quarter of carers (29%) say they often or always feel lonely. Without the right support, these employees are at a high risk of burning out.

The impact: Businesses that fail to provide adequate support for caregivers risk losing valuable talent – and that risk is only going to grow, given that more than two million people in the UK take on new family caregiving responsibilities every year. 

Salary rises aren’t enough

Statistic #7: In recent surveys, UK working adults have indicated that a higher salary, alone, wouldn’t be enough to convince them to stay in their current job. Instead, many employees are placing higher value on employee benefits.

For instance, nearly half cite flexible working conditions as important when choosing an employer, while a third prioritise mental health support. In fact, nearly two-thirds of employees say they would be willing to take a pay cut if it meant getting more employee benefits.

The impact: In this context, wellbeing benefits have moved from a “nice-to-have” to a critical tool for retaining and attracting the best talent. They also play a key role in boosting your firm’s productivity and creativity by fostering a healthier, happier workforce.

For example, research has shown that employees with improved mental and physical wellbeing are more efficient and better at problem-solving. Studies continue to confirm that happy employees are more productive, creating a direct link between wellbeing and business performance.

These employee wellbeing statistics paint a compelling picture: businesses that prioritise employee wellbeing will thrive in today's competitive landscape. While offering competitive salaries remains important, it’s clear that a holistic approach to benefits – encompassing both mental health support and specific services like caregiving resources – plays a crucial role in job satisfaction and retention.

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