The pandemic prompted an unprecedented focus on employee well-being. Four years after the onset of the global health crisis, a new report finds that employee well-being is not improving—but rather, stagnating.
It turns out that 62% of US workers say their well-being is the same or worse than six months ago. That is despite the considerable resources that companies have dedicated to improving the health of their workforce.
But HR leaders aren’t giving up: 95% of Chief Human Resource Officers (CHROs) intend to maintain or increase their spending on well-being in 2024. CHROs are committed to making such investments, recognizing their linkage to retention in a tight labor market.
“The commitment to well-being must extend beyond the walls of HR,” said Rita Meyerson, EdD, Principal Researcher, Human Capital, The Conference Board. “Embedding it into the business strategy and culture is all the more important at a time when employee well-being is languishing.”
Employee well-being is defined as a measure of employee health across mental, physical, professional, financial, and social dimensions.
Additional key findings and recommendations include:
Workers believe their employer has some responsibility for their well-being.
HR leadership is committed to investing in employee well-being.
“Among a host of competing priorities, the onus will be on CHROs to demonstrate to their C-Suite colleagues how investments made in employee well-being are not just good for employees, but good for business,” said Diana Scott, US Human Capital Center Leader, The Conference Board. “Employers that fail to demonstrate a commitment to employee well-being will be at a competitive disadvantage in the talent marketplace. By working together, CHROs and the C-Suite can embed it into the culture and strategy, intertwining well-being with the brand and identity of the company.”
Amid limited resources and competing company priorities, CHROs must convince the C-Suite to focus on well-being.
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