Workforce Wellbeing In 2024: Challenges, Progress And The Path Forward

Keywords: Mental Health, Workforce Wellbeing

Author: Lisa Munro

Date: 16 November 2023, Worklife Digital

As organisations start planning for 2024, the spotlight on workforce wellbeing remains unwavering within the C-suite. Deloitte's second Well-Being at Work Survey has brought to light persistently low levels of well-being among employees, with the majority reporting either stagnant or deteriorating health over the past year.

Despite a renewed emphasis on improving workforce wellbeing, progress seems elusive. The collaborative efforts of Deloitte and Workplace Intelligence, surveying 3,150 C-suite executives, managers, and employees across the United States, the United Kingdom, Canada, and Australia, have unveiled key areas where organisations are falling short and provided insights into potential solutions.

The Current State of Employee Wellbeing

The survey indicates that the C-suite often underestimates the wellbeing struggles of their workforce. While executives themselves grapple with wellbeing issues, a significant number believe their employees' wellbeing has improved—a clear disconnect.

Employee self-reported wellbeing remains suboptimal and has slightly declined across various dimensions. Less than two-thirds of workers rate their physical and mental wellbeing as "excellent" or "good." Alarmingly, social and financial wellbeing receive even lower positive ratings.

Negative emotions and fatigue are prevalent among employees, reflecting the challenges they face. Issues such as exhaustion, stress, feeling overwhelmed, irritable, lonely, depressed, and angry are commonly reported, affecting not only employees but also managers and executives.

Work-Related Obstacles

A significant hurdle to wellbeing improvement is the burden of work. Employees express motivation to prioritise wellbeing, but obstacles such as heavy workloads, stressful jobs, and long work hours impede progress. Many find it challenging to prioritise health-related behaviours, such as taking breaks, exercising, getting sufficient sleep, and maintaining a work-life balance.

Employees’ perception of their job’s impact on their wellbeing is concerning. A substantial percentage feel their job negatively affects their physical, mental, and social wellbeing. This dissatisfaction contributes to a growing consideration among employees, managers, and the C-suite to seek job opportunities that better support their well-being.

Keys to Unlocking Workforce Wellbeing

Managerial Support: Managers play a pivotal role in employee wellbeing but often lack the necessary tools and empowerment.

While almost all employees believe their managers should take some responsibility for their wellbeing, a significant percentage feel their managers don't provide adequate support.

By offering tools, training, and addressing organisational barriers, companies can empower managers to make a more significant impact on wellbeing.

C-suite Accountability: The C-suite must take a proactive role in workforce wellbeing, with 85% expressing the intention to become more responsible for it.

Some executives believe their bonuses should be tied to wellbeing metrics, showcasing a commitment to accountability. Publicly reporting wellbeing metrics is crucial for transparency, building trust, and attracting talent.

Human Sustainability Focus: A paradigm shift is underway as the concept of workforce wellbeing extends beyond current employees to embrace human sustainability.

Organisations advancing human sustainability contribute to the long-term wellbeing of individuals, organisations, climate, and society. Executives recognize the importance of human sustainability, but there's a perception gap between leadership and employees.

The Road Ahead: Building a Wellbeing Economy

The survey highlights a broader shift towards human sustainability, emphasising the creation of value for current and future workers and society. Companies embracing this concept are fostering healthier, more skilled, and purpose-driven employees, supporting suppliers and communities.

While the C-suite acknowledges the importance of advancing human sustainability, there's a need for greater alignment between leadership intent and employee perception. This involves clear communication of commitments, setting goals, and publicly reporting wellbeing metrics.

Rewriting the Narrative for a Better Future

Organisations are at a pivotal juncture to address workforce wellbeing. Executives have the opportunity to rewrite the narrative by prioritising the health and wellbeing of their workforce. Progress requires a dual focus on immediate impact and a shift towards a more long-term, human sustainability-oriented approach.

As we navigate the evolving landscape of work, the commitment to wellbeing will define the success and resilience of organisations. By prioritising the physical, mental, and social health of employees, companies can not only retain top talent but also contribute to a healthier and more sustainable future for individuals, communities, and society as a whole.

WorkLife Digital is a global mental-wellbeing consultancy driven by the mission to improve the sustainability of businesses. Our psychological wellbeing tool, Worklife Quotient (WL-Q), is modelled on cutting-edge scientific research and provides organisation-wide measurement and intelligence on the mental wellbeing levels and psychological resilience of staff. WL-Q also assesses the impact of organisational practices (i.e. people and culture, leadership styles, organisational purpose and values, social impact) that have a direct influence on staff wellbeing and provides strategic recommendations on addressing risks and promoting strengths.

For more information, get in touch at lisa@worklife.digital