While “forward-thinking global organizations,” according to the report, are changing “traditional reward strategies” to have a more positive impact on employee well-being and provide them with the best possible experiences, others are not; organizations that update their benefits programs, the report finds, are 60 percent more likely to offer well-being initiatives.

There are a number of factors pushing companies to reconfigure their benefits strategies so that they focus on employee well-being and help workers care for their families and save for the future. These include health threats such as the rising obesity epidemic, with more than 1 in 3 American adults identified as obese, and American workers taking a week less of vacation time since 2000.

Other studies show that retention is high when employers make workers’ physical and emotional well-being a priority. Employees have added components to their wellness programs to address such issues as emotional health, financial management (a major stressor for workers), controlling back pain, student debt, sleep deprivation and even office design.

But there’s a big payoff for employers that undertake to change benefits programs; the report cites research from Bersin by Deloitte that finds that organizations channeling their time towards creating a flexible and empowering workplace experience are five times more effective at improving employee engagement and retention than their peers.