Prioritising Employee Wellbeing and Mental Health in 2024

In our first Talent Management blog of 2024, we explore the pivotal role of mental health and wellbeing as fundamental contributors to organisational success. It has become increasingly evident that prioritising employee wellbeing and mental health is no longer a fringe benefit but a strategic imperative. 

The Impact of Mental Health on Productivity:

Research conducted by the World Health Organisation (WHO) estimates that depression and anxiety alone cost the global economy one trillion dollars per year in lost productivity(1). The interplay between mental health and workforce productivity is a complex web, and organisations are recognising that investing in mental wellbeing is a direct investment in sustained productivity.

The Toll of Remote Work on Mental Health:

As remote work becomes a long-term reality for many organisations, a study published in the Journal of Occupational and Environmental Medicine highlights the potential negative impact of remote work on mental health, emphasising the need for tailored well-being initiatives(2). Companies are now re-evaluating their approach to remote work, implementing measures to address the challenges and foster employee mental health.

A Shift Towards Holistic Wellbeing Programs:

A report by Deloitte Insights emphasises a growing trend among organisations to shift from traditional wellness programs to more comprehensive well-being initiatives(3). This evolution recognises that wellbeing encompasses physical, mental, and social dimensions. Forward-thinking companies are integrating mental health resources into their broader well-being programs, acknowledging the interconnected nature of these elements.

The Role of Leadership in Promoting Mental Health:

Studies, such as the one conducted by Gallup, consistently show that employees who feel supported by their managers are more engaged and experience better mental health outcomes(4). In 2024, effective talent management includes nurturing leadership qualities that prioritise empathy, active listening, and providing the necessary resources for mental health support.

Technology as an Enabler of Mental Health Support:

Advancements in technology are playing a crucial role in providing accessible mental health support. A Forbes article highlights the rise of mental health apps and digital platforms that offer resources for stress management, mindfulness, and counselling(5). Organisations are integrating these tools into their benefits packages, recognising the need for flexible and convenient mental health resources.

Conclusion:

In 2024, talent managers are not merely acknowledging the importance of employee wellbeing and mental health; they are actively championing it as a cornerstone of organisational success. The convergence of research findings, industry reports, and the evolving nature of work itself underscores the urgency for companies to prioritise mental health initiatives. As talent managers, we have a responsibility to lead our organisations toward a future where success is not only measured in profits but in the well-being and resilience of our most valuable asset – our people.

Footnotes

1.  World Health Organisation (WHO) – Depression and Other Common Mental Disorders: Global Health Estimates. (2017) 
2. Journal of Occupational and Environmental Medicine – The Remote Work Paradox: Remote Work, Income Inequality, and Mental Health During the COVID-19 Pandemic. (2021) 
3. Deloitte Insights – The Future of Wellness at Work. (2022) 
4. Gallup – State of the American Workplace. (2021)
5. Forbes – The Rise Of Mental Health Tech: How Digital Platforms Are Redefining Wellness. (2023)
   
   

At The FutureList, we understand the importance of building a strong tech team that aligns with your specific goals and requirements. Our dedicated team of experts and talent partners are here to provide personalised advisory sessions to assist you in assembling a top-notch tech team through navigating the complexities of talent acquisition and creating a dynamic team that drives your organisation’s success. Don’t hesitate to reach out to schedule an advisory call here.

Get innovation insights from The FutureList weekly. Subscribe to our newsletter here