The health of your organization is linked to the health of your workforce. But heavy workloads and stressful jobs may prompt employees to leave an organization for an employer that values workforce well-being and better meets their needs, research shows. Long Island employers who dismiss these findings may be doing so at their own peril as qualified talent can be hard to find in an already tight labor market.
Consider, for example, the “Well-being at Work” survey, the second such report published by Deloitte, the big-four consultancy with offices in Jericho. For this survey, which was published in June, Deloitte partnered with Workplace Intelligence, a Massachusetts-based independent research firm, to survey 3,500 employees and C-suite executives in the United States, United Kingdom, Canada and Australia.
“Leaders should be immensely concerned that work continues to be the primary reason why people are both physically and mentally unwell,” Dan Schawbel, managing partner at Workplace Intelligence, said in a statement.
“Employees need to be able to take time off and disconnect, and they shouldn’t be in a constant state of stress and exhaustion due to their jobs,” Schawbel added. “Work can and should be compatible with well-being — and it’s up to leaders to deliver on that promise.”
The survey found that a focus on “human sustainability” – Deloitte defines this as “the long-term, collective well-being of individuals, organizations, climate, and society” – may be an organization’s most important currency. It’s a factor that can prove especially valuable when competing for talent and market share.
The study comes at a time on Long Island when unemployment is hitting new lows. The not-seasonally-adjusted unemployment rate for Long Island in May was 2.7 percent, climbing from the 2.4 percent rate recorded in April, according to recent numbers from the New York State Department of Labor. Industries with recent gains include professional and business services, health and education, leisure and hospitality, and construction.
Yet this is a time that employees across the board said that heavy workloads and stressful jobs were their top obstacles in their efforts to improve their health, the Deloitte survey revealed. In the survey, 60% of employees and 75% of C-suite leaders said they are “seriously considering” leaving their current employers because of workplace stress, up from 57% and 69% last year. Managers too, are feeling similar burdens, with 64% saying that they also are thinking about switching jobs. All said they would contemplate working at another organization that would “better support their well-being.”
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These findings may seem surprising to an organization’s leaders, with three in four top executives saying they believed the health of their workforce had improved. Yet, the survey revealed that most employees reported that their health had either worsened or stayed the same. Still, one-third said their health had improved.
Companies can, however, take initiatives to improve that gap. Deloitte recommends incorporating a “long-term view” toward team members to “prioritizes people over profits.”
That makes sense to Donna Sirianni, the founder and CEO of Moving Forward Strategies, which offers personal development and leadership training through one-on-one and group training, including a monthly Living Leadership series for executives at Drake Media Studios in Melville.
Team members, Sirianni pointed out, are the people driving company profits, and ultimately “connecting with their customer and clients.”
When employers “truly care about the well-being of their staff,” they will “invest in programs for the people of their organization,” Sirianni said.
Offering personal development can go a long way towards emotional wellness, productivity, reduced healthcare costs and even company loyalty, experts say. They recommend programs such as meditation, yoga and other fitness activities; stress management; nutrition guidance; preventative health measures; and mental health support.
Embracing these kinds of measures companywide can bring maximum returns for an organization, especially when everyone is on board, including reducing employee absenteeism and turnover, experts say.
“Managers and the leaders of an organization should take these experiences and programs along with their staff,” Sirianni said, adding that they would all benefit from such experiences. In addition, when everyone participates in these kinds of offerings, it helps ensure that they “are all on the same page with regard to well-being, mindset and health,” she said.
Right now, there is a need for organizations to step up their efforts, including through employer accountability, the Deloitte survey found. Of the respondents, 85% at the C-suite level said they would be more accountable over the next few years. And those who don’t take on that kind of accountability may be looked upon poorly, with 78% saying that their top leaders should “step down if they can’t maintain an acceptable level of workforce well-being.” Another 72% agreed that bonuses for these leaders should be tied to any established well-being metrics.
Workforce well-being may be something we hear about more frequently. In the report, for example, 85% of the leaders surveyed said that metrics tracking workforce well-being should be reported publically. Still only half of those surveyed are doing so now. On this front, there is more work to do, with 39% of employees saying these initiatives should be more visible.
The metrics and accountability, experts say, stand to help employers lead from a position of strength.
“Organizations have much to gain from metrics that can help them better understand and communicate about worker well-being,” Jen Fisher, Deloitte’s U.S. chief well-being officer, said in a statement about the findings.
“The majority of the leaders surveyed agree that sharing this information could build employee trust and help them attract talent,” Fisher added. “And while publicly disclosing these metrics may seem radical, it has a precedent with the evolution of environmental, social and governance reporting.”
Organizations that look to helping employees become healthier can develop new and valuable skills that foster a sense of purpose for team members. These organizations may see other gains, including with points-of-contacts such as vendors as well as their surrounding community.
Still, for many business leaders, appreciating a healthier path may be a work in progress.
“Our understanding of what it means to create and sustain value is shifting,” Paul Silverglate, Deloitte’s technology sector vice chair, said in a statement about the survey. “We’re beginning to see how economic value is fundamentally intertwined with employee well-being and quality of life, and that’s why human sustainability should be at the top of every corporate agenda.”
Meanwhile, employers shouldn’t lose sight of the return on investment that they can achieve, experts say.
“At the end of the day, it’s a culture of well-being that a company should want to create to attract and retain the best in the
workforce,” Sirianni said.
“People who are drawn to those types of well-being benefits are the people who want to constantly improve themselves,” she added. “And having those types of people will enhance the well-being of every aspect in a company.”
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