Well-being Welfare

ARTICLES | Jul 17, 2023
Well-being Welfare

The future of work in 2030 will put more emphasis on employee well-being. Studies reveal that well-being is linked to productivity, creativity, and staff retention. Organizations that prioritize the well-being of their employees attract top talent. Employee benefits are now the top factor for 44% of job applicants.


During the COVID outbreak, teleworking or hybrid working became common. But the lack of interaction with co-workers can lead to stress and depression. Many organizations have begun to develop mental health services for employees and to adjust workplace access policies and working cultures. But only 5% of employees agree that their organization can meet their welfare needs.


It's not just employees or organizations that pay more attention to welfare. Society and investors are looking at employee welfare as a key consideration in environmental stewardship, social responsibility, and good corporate governance.



Implications for the future:

- Organizations will be increasingly focused on caring for the physical, mental, and financial well-being of their employees through means such as healthcare plans. Employee assistance programs (EAP), mental health insurance, well-being programs will create an organization where employees are healthy, engage with the organization, and can work well.

- Organizational mental health services will become one of the more important tasks in the future.

- Pushing for mental health insurance to be as comprehensive as physical health insurance will be a key demand for employee well-being in the future.



Source: McKinsey

Related Articles