Analysis from Everywhen found that 43% of UK companies did not have a formal health and wellbeing strategy in place.
Only 51% had a documented and regularly updated strategy, while 18% just offered benefits as their approach.
A further 13% provided support on an ad-hoc basis.
Debra Clark, head of wellbeing at Everywhen, said: “For wellbeing support to have the most impact it must be part of a strategy that considers the needs of the workforce and the objectives of the company in offering that support.”
According to Everywhen, a formal strategy should reflect both workforce and business needs.
The company noted that offering support reactively often meant only those who spoke up got help, while some employees preferred to access support anonymously.
Surveying employees anonymously was suggested as one way to get a clearer picture of actual requirements.
Clark added: “Everywhen urges every company to have a formal and regularly reviewed health and wellbeing strategy in place.
“This is the best way to ensure that the employees are supported in the most effective ways and that the company sees the benefits too.”