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85% of  Execs Want Companies to Publicly Report Workforce Well-being Metrics

Execs Want Companies to Report Workforce Well-being Metrics

July 10, 2023
"Economic value is fundamentally intertwined with employee well-being , and that's why human sustainability should be at the top of every corporate agenda."

Improving the well-being of employees has been a goal of most companies. But it's still a struggle according to Deloitte's Well-Being at Work Study, The recent report revealed that that employee well-being has worsened across all dimensions.

The authors of the report advise that moving forward will require a strong focus on "delivering immediate impact but ultimately should shift toward a more long-term view — one that prioritizes people over profits. To achieve this, leaders should increase their support for their managers, and they also should hold themselves and their organizations more accountable."

Accountability is something that the C-suite is ready to do  as 85% feel organizations should be required to publicly report their well-being metrics, for example in their annual reporting. However, only around half say their company is currently doing this.

"Organizations have much to gain from metrics that can help them better understand and communicate about worker well-being," said Jen Fisher, Deloitte's US chief well-being officer. "The majority of the leaders surveyed agree that sharing this information could build employee trust and help them attract talent. And while publicly disclosing these metrics may seem radical, it has a precedent with the evolution of environmental, social and governance (ESG) reporting."

Metrics are  one form of measurement while employee satisfaction is another. In the study some employees reported that executives were not meeting their expectations when it comes to advancing human sustainability, which Deloitte defines as the long-term, collective well-being of individuals, organizations, climate, and society.

"Leaders should be immensely concerned that work continues to be the primary reason why people are both physically and mentally unwell," said Dan Schawbel, managing partner at Workplace Intelligence, 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. Work can and should be compatible with well-being — and it's up to leaders to deliver on that promise."

Key findings from the report include:

  • Workforce well-being is declining, but, in general, employees feel that some executives don't recognize this. Most employees feel their health worsened or stayed the same last year — only around one-third say their health improved. However, more than 3 in 4 C-suite leaders believe their workforce's health improved.
  • For some, work remains an obstacle to well-being. Eight in 10 respondents are struggling to improve their well-being, with a heavy workload and stressful job topping the list of obstacles they face. The result is that compared to last year, an even greater number of people — 60% of employees, 64% of managers, and 75% of the C-suite — say they're seriously considering quitting for a job that would better support their well-being.
  • Managers can play a pivotal role in employee well-being, but they're lacking organizational support. Seven in 10 managers say obstacles like rigid company policies, a heavy workload, and an unsupportive workplace culture prevent them from doing more to support their team members. Only 42% feel completely empowered to help their company achieve its well-being commitments.
  • Executives generally agree they should be more accountable. Eighty-five percent of the C-suite say they'll become more responsible for workforce well-being over the next few years. Notably, 78% feel their company's leaders should step down if they can't maintain an acceptable level of workforce well-being, and 72% believe executives' bonuses should be tied to workforce well-being metrics.
  • Greater accountability should go hand-in-hand with public reporting. Eighty-five percent of executives believe organizations should be required to publicly report their workforce well-being metrics, but only around half are currently doing this. And while 84% of the C-suite we surveyed say their companies have made public well-being commitments, just 39% of employees feel the same way about their companies, indicating that leaders should elevate the visibility of these initiatives.
  • Human sustainability is a way forward, but companies should step up their efforts. Organizations that are embracing this concept may be helping their employees become healthier, more skilled, and more connected to a sense of purpose and belonging, and they can also be supporting their suppliers and communities. However, while 89% of the C-suite say their company is advancing human sustainability, just 41% of employees agree.

"Our understanding of what it means to create and sustain value is shifting," said Paul Silverglate, U.S. Executive Accelerators leader and Deloitte LLP's technology sector vice chair. "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."

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