From Sidelines To The Core: Now Is The Time For Business To Reframe Its Approach To Well-Being
In recent years, the importance of employee well-being has steadily climbed the corporate agenda – with a growing number of organizations offering dedicated programs and support resources to help address mental health at work.
Prompted by the growing expectations of younger generations in the workplace, and accelerated by the COVID-19 pandemic, this increased focus is welcome.
However, data increasingly points to a need for organizations to redefine their strategies for supporting well-being in the workplace - to move beyond an approach where support sits on the 'sidelines' to one that firmly embeds well-being into the core of the work experience. This means addressing the root causes of stress and anxiety at work to prevent them, rather than just treating them.
Deloitte Global's annual Gen Z and Millennial Survey, now in its 14th year, explores the views and experiences of over 23,000+ Gen Z and millennial respondents across 44 countries. And this year's findings make evident the wide range of factors impacting people's well-being, many of which are related to work and can be directly influenced by leadership behaviors.
Work/life balance features prominently as an enabler, or as a limiting factor, to well-being – and to happiness. Indeed, over half of respondents who say they are happy also say they are satisfied with their work/life balance, but in those who report being unhappy, satisfaction with work/life balance drops to three in 10. Achieving work/life balance isn't just seen by these generations as a 'nice to have' – it is now a fundamental expectation. To this end, maintaining a good work/life balance features in the top career goals for both generations, along with financial independence and job stability. Yet many have not consistently achieved work/life balance – with around a quarter of Gen Zs (28%) and millennials (26%) having changed industries or career paths for better work/life balance.
While the importance of achieving a work/life balance is clear – it is equally clear that there is a mismatch between expectations and reality when it comes to a leader's role in helping to achieve it. Around four in 10 look to their leaders to enable work/life balance, yet just under a quarter say this happens in reality.
Workplace culture and recognition also play a key role. The data shows that both are closely linked to employee well-being. Indeed, for those who report good mental well-being, feeling valued at work, satisfaction with the recognition they receive, and satisfaction with career growth opportunities are common workplace experiences. For example, six in 10 Gen Zs and seven in 10 millennials who feel satisfied with the recognition they receive for their work report good mental well-being. Yet the picture is less positive for a third of respondents who say that their job contributes significantly to their stress levels, with long working hours and a lack of recognition being most cited (by nearly half). And for around four in 10 of these respondents, workplace stress is driven by toxic workplace cultures and unfair decision-making processes.
Here we again see the importance of the role of line managers and leaders – along with a mismatch in expectations and experience. More than four in 10 respondents believe managers have a responsibility to foster a positive and inclusive work culture, but only one-fifth believe that they do this – with a lack of recognition, unfair decision-making practices and toxic work environments cited as top workplace stress drivers.
Financial reward for work is important to these generations, but so is doing meaningful work, and both impact well-being. Sixty-two percent of Gen Zs and 68% of millennials who are satisfied with their pay and benefits report good mental well-being, while only 39% Gen Zs and 44% millennials who are dissatisfied with these elements report the same. When it comes to meaningful work, nine in 10 respondents overall say having purpose to their work is important to their well-being.
When these generations don't experience meaning or purpose in their work it negatively impacts stress and anxiety levels as well as retention – indeed, four in 10 say that not getting a sense of meaning or purpose from work contributes to their feelings of anxiety and stress. And nearly half (44% of Gen Zs and 45% of millennials) have left a role they felt lacked purpose.
This data paints a clear picture: well-being is impacted by workplace experiences – it cannot be regarded as a stand-alone issue on the sidelines that is solely addressed by providing mental health resources. It is about fundamentals at the core – work/life balance, culture, recognition, financial reward and meaningful work – and it is about leaders who understand and enable this.
Some may read this article and be comfortable that they have embedded well-being in all they do. But for those who read it and think there is more to do, here are some questions to think about:
By asking these questions and being open to reframing how they consider their approach to workplace well-being, employers can start to meaningfully meet the expectations of younger generations and reap the full benefits of a thriving, productive and loyal workforce.
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In recent years, the importance of employee well-being has steadily climbed the corporate agenda – with a growing number of organizations offering dedicated programs and support resources to help address mental health at work. Prompted by the growing expectations of younger generations in the workplace, and accelerated by the COVID-19 pandemic, this increased focus is welcome. However, data increasingly points to a need for organizations to redefine their strategies for supporting well-being in the workplace - to move beyond an approach where support sits on the 'sidelines' to one that firmly embeds well-being into the core of the work experience. This means addressing the root causes of stress and anxiety at work to prevent them, rather than just treating them. Deloitte Global's annual Gen Z and Millennial Survey, now in its 14th year, explores the views and experiences of over 23,000+ Gen Z and millennial respondents across 44 countries. And this year's findings make evident the wide range of factors impacting people's well-being, many of which are related to work and can be directly influenced by leadership behaviors. Work/life balance features prominently as an enabler, or as a limiting factor, to well-being – and to happiness. Indeed, over half of respondents who say they are happy also say they are satisfied with their work/life balance, but in those who report being unhappy, satisfaction with work/life balance drops to three in 10. Achieving work/life balance isn't just seen by these generations as a 'nice to have' – it is now a fundamental expectation. To this end, maintaining a good work/life balance features in the top career goals for both generations, along with financial independence and job stability. Yet many have not consistently achieved work/life balance – with around a quarter of Gen Zs (28%) and millennials (26%) having changed industries or career paths for better work/life balance. 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