This Is What CEOs Need To Know

This Is What CEOs Need To Know

Mental health is a threat to individual well-being and an economic burden eroding workforce productivity, morale, and overall culture.

A joint study by the World Economic Forum and the Harvard School of Public Health forecasts a staggering $6 trillion global expenditure on mental health conditions and their related consequences by 2030, compared to $2.5 trillion in 2010. Within this context, depression alone extracts $210 billion annually from the American economy, with employers bearing half of this financial burden.

In response to a rising prevalence of mental health issues, workplace wellness has become more of a focal point. The global corporate wellness market as of 2022 was $55.5 million. However, by 2031, this market is projected to grow to $94.6 million. Yet, despite the influx of resources thrown at this problem, a growing sentiment is questioning the effectiveness of these initiatives.

Recent research published in the Industrial Relations Journal has only cast more doubt on the effectiveness of workplace wellness programs for improving mental health outcomes.

What The Study Found

This Oxford University study of more than 46,000 British employees at over 200 companies led by researcher William Fleming found that people who participate in well-being programs focusing on improving mental health got zero benefits compared to employees who don’t.

The programs and well-being interventions included resilience training, mindfulness apps, and other well-being apps promoting healthy sleep habits, amongst other behaviors. Ironically, the one program that appeared to improve mental health was volunteering. Even with this, Fleming notes caution, stating that “the estimated effects are small, probably selection-biased, and these initiatives would not engage with the job demands and resources central to theoretical and empirical understandings of work well-being.”

While this study may ring some alarms, all is not for naught. Workplace wellness programs can serve as a net positive overall. However, this study further cements one essential principle necessary to get the most out of your workplace mental health initiatives.

Sequencing Matters

Whether conquering a marathon or nurturing a fledging company into a thriving enterprise, both require a deliberate sequence of steps to get the desired outcomes. The recent study from Oxford University reminds us of the critical importance of sequencing as it pertains to designing an effective mental well-being program and an overall effective culture. This study serves as a reminder that a solid foundation must be established and nurtured before entertaining the finer details.

While mental health apps, yoga classes, massage chairs, gym memberships, and nutritional workshops undoubtedly offer benefits, they cannot compensate and cover up for a fundamental deficiency in workplace culture, leadership, and infrastructure. No wellness app or motivational talk can remedy a toxic work environment, a lack of career development opportunities, inadequate compensation, limited personal autonomy, and a disconnect from the organization’s mission and purpose.

Just as a marathon runner wouldn’t attempt a race without a proper foundation, companies must address the core root foundational issues before anything else. This doesn’t negate the value of various wellness initiatives. Instead, it merely emphasizes the importance of strategic sequencing. Build a resilient and supportive organizational culture that supports employee well-being at its core, and then precisely add various wellness additives that complement and amplify your mission, thus ensuring organizational alignment.

Business Has Changed

The business landscape has radically shifted due to rapid technological advancements, unprecedented global events, and shifting societal norms and values. Using salary to attract and retain top talent is no longer adequate, as a 2019 Glassdoor study found over half of the 5,000 participants regarded culture as more important than salary regarding job satisfaction.

Both the Glassdoor and Oxford Study were in pre-pandemic eras, and they both serve as a reminder that the approach to workplace wellness needs to evolve to match the current times. In today’s landscape, employees prioritize more than financial compensation—they seek a sense of belonging, autonomy, purpose, and fulfillment. Unsurprisingly, those ingredients improve an individual’s mental health when nurtured and adhered to.

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