Unum has launched a free online tool to provide businesses with an MOT-style review of their wellbeing strategy.
Taking less than ten minutes to complete, it offers analysis of how the company's wellbeing strategy matches up to the needs of employees, along with practical advice on areas to improve.
The majority, 66%, of companies do not have processes in place to monitor the mental health of employees, and 69% have none for physical health, a survey for Unum found.
Over a third (34%) of businesses did not have any kind of wellbeing strategy in place, the survey of over 400 businesses found.
Linda Levesque, HR director, at Unum, said: "Workplace wellbeing is quickly climbing the agenda as businesses realise the real value it can make both to employee engagement and the bottom line.
"However, while many businesses have taken proactive steps to improve the support on offer to staff, they need to take a more holistic approach.
"Just 1 in 7 (15%) communicate their wellbeing strategy to staff at least once a month, and even fewer - 1 in 10 (11%) - provide compulsory training to managers on their company's wellbeing strategy and benefits.
"So while they may have brought in a great new scheme to help improve employee health, unless they communicate this to staff and train line managers on how and when to offer it, they are not making the most of the associated benefits."