May 19, 2024

News and Political Commentary

Healthy employees equal healthy companies

2 min read

Recently I was talking with a CEO who lamented, “Everyone is trying to solve my $300 million problem, but nobody is helping me solve the $2 billion problem.” He went on to explain that no one is looking at the entirety of his people spend or for ways to help him transform across the board, even now at year-end, when budgets are being closely scrutinized in preparation for the year ahead. This is the area where he needs much greater visibility, he explained, along with a strong strategy.

This isn’t the first time I’ve had a leader share this frustration. I see and hear stories like this every day as I talk with peers, meet with clients, and look across the market. The reality is, as leaders, we’re up against the wall with new ways of doing business but the same, if not greater, pressures to deliver to the bottom line and shareholder value.

Over the past few years, companies have invested staggering amounts of money on employee experience programs—about 20% more than in previous years, according to the U.S. Bureau of Labor Statistics. They’ve restructured their working environments and changed their operations. Why? ​To keep employees healthy and productive—and their companies, too. It’s the right thing to do, but employees are still stressed and overwhelmed, and employers are still pressed to drive down costs and maintain a competitive edge, while navigating impactful new technologies, like generative AI. ​

According to Alight’s 2023 International Workforce and Wellbeing Mindset Study, three-quarters of employees are experiencing moderate to high stress and 15% often feel completely depleted, up 50% since 2020. Job engagement is down, with just over two-thirds (69%) of employees always or almost always feeling productive and 34% dreading the start of their workday. Meanwhile, the uncertain economic environment is taking its toll. To navigate the higher cost of living, more than two-thirds (67%) of employees…

Stephan Scholl

2023-12-21 14:00:00

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