Investing in the well-being of employees pays off

October 10 is World Mental Health Day. This day is an opportunity to raise awareness of the importance of mental health around the world and to promote mental health. We would like to participate in this international movement by doing our bit for mental health in the workplace. And to make this article even more insightful and interesting for you, we have invited our partner Kyan Health to join the discussion. 

The status quo

The World Health Organization (WHO) cites various risks to mental health in the workplace, including a poor working environment, discrimination and disadvantage, excessive workloads, inflexible working hours, an organizational culture that encourages negative behaviors, and competing demands between work and private life.

• The World Health Organization (WHO) cites various risks to mental health in the workplace, including a poor working environment, discrimination and disadvantage, excessive workloads, inflexible working hours, an organizational culture that encourages negative behaviors, and competing demands between work and private life.
• The WHO estimates that 12 billion working days are lost due to depression and anxiety, at a cost of 1 trillion US dollars per year in lost productivity.
• According to the Job Stress Index, CHF 6.5 million could be saved in Switzerland every year if stress factors in the workplace were reduced.
• According to a study of 3.4 million employees by Great Place To Work, 46 % of employees worldwide feel inadequately supported by their organizations.
• According to INDEED, only 29 % of US workers report a high level of well-being.
• According to Kyan Health data, the situation in Europe is only slightly better: only 38 % of employees in multinational companies in the DACH region who use Kyan Health report a high level of wellbeing. 

These figures only make one thing clear: we can and must do better!

The mental well-being of employees is essential

Investing in the wellbeing of your own employees is not only ethically justifiable, but also makes good business sense. According to a study by the Oxford Wellbeing Research Centre, companies that actively invest in the wellbeing of their employees achieve better results in terms of profitability and market valuation. It is crucial to understand that wellbeing is inherently human; addressing it effectively means recognizing its multidimensional aspects.

The employee experience 

Wellbeing thrives where growth, social and basic needs are met. Kyan Health data shows that an increase in the need for growth - e.g. learning, drive and achievement - is associated with a 25.2% increase in overall wellbeing.

According to a recent study conducted by Great Place To Work Switzerland, 79% of employees at Best Workplaces™ are given the resources to develop professionally, while in an average Swiss company only 54% would say the same. This is one of the reasons that Best Workplaces™ have a competitive advantage and thrive better than the average organization. 

A survey of Kyan Health users found that only 18% reported positive feelings (e.g. empowerment, sense of achievement, self-esteem and confidence) related to work and career, with 'tiredness' being the most common negative feeling. It's time to act!

Holistic view of well-being

Kyan Health looks at well-being in five important areas of life: Mind, Body, Work, Relationships and Leisure. The analysis of data from over 1,000 users shows that while employees are generally satisfied with their relationships, only 46% find them inspiring and 35% find them educational. In addition, 26% do not feel supported by their superiors. In terms of mental wellbeing, 44% of employees feel overwhelmed by their tasks and 56% have problems with self-acceptance. These figures underline the importance of addressing basic and social needs, including effective workload management and psychological safety. 

The role of workplace culture 

Can a good workplace culture help prevent mental health problems? The answer is yes, and we can confidently answer in the affirmative by citing just three areas identified by the WHO as relevant to mental health: psychological safety, work-life balance and the ability to take time off when needed.

According to Amy C. Edmondson, Novartis Professor of Leadership and Management at Harvard Business School, psychological safety can be defined as the shared belief among team members that other team members will not be embarrassed, rejected or punished for speaking their minds. It also includes the courage to take risks and make mistakes without fear of negative consequences.

The Great Place To Work Trust Index™ questionnaire contains a statement that assesses psychological safety. The figures speak for themselves:

80% of employees in Best Workplaces™ agree with the statement "This is a psychologically and emotionally healthy workplace". In an average Swiss company, only 56% would say this. When it comes to work-life balance, 80% of employees in Best Workplaces say they are encouraged to do so. In the average Swiss organization, this is only 52%. 86% of employees in Best Workplaces can take time off work if they feel it is necessary. In the average Swiss organization, only 60% are able to do so. 

These are just three examples to illustrate that not all employees work under the same conditions, let alone under stress when it comes to attending a doctor's appointment for a sick child, caring for a loved one or pursuing a passion outside of work.

However, the good news is that it pays to regularly address these issues and make companies aware of them, because we see that the average Swiss organization has also improved on the topic of mental safety. The approval rate for this statement has improved from 50% in 2018 to 56% in 2021.

If we were to sum up Kyan Health and Great Place To Work recommendations for Organizations, it would come down to these 4 domains: 

• Holistic measurement: Do not opt for an instrument that only provides you with one aspect.
• Invest in growth needs: This is good for increasing skills in your company, but also for employee retention and employee well-being.
• Place value on psychological safety: Create an environment where employees feel safe to express themselves and take risks without fear of negative consequences.
• Foster inspiring relationships in the workplace and ensure that your employees have the time and resources to invest in relationships outside of work by balancing the workload.

The journey to improve employee wellbeing has only just begun. The next phase is about going beyond awareness to provide effective, confidential channels for growth and development. As research in this area continues to develop, one thing is becoming increasingly clear: companies that act decisively to promote employee wellbeing will be more successful.

At Great Place To Work, we firmly believe in our mission: to help organizations become a Great Place To Work for everyone. As more and more organizations embark on this journey and the unemployment rate reaches its lowest level since 1999, employees want to work for organizations that care about them, their mental health, their work-life balance and their professional fulfillment. What might be seen as a luxury or choice today will soon be a must as the talent shortage intensifies.

The "right time" to invest in wellbeing and workplace culture is when things are going well. This proactive approach promotes sustainable excellence, improves company culture and helps attract and retain top talent.

Start your journey to a great place to work today: