ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

Unlocking the Power of Digital Tools for Workplace Wellness

These tools can engage individuals who may otherwise hesitate to seek help for their mental, physical, or financial challenges.
PUBLISHED MAR 22, 2024
Cover Image Source: Workplace Wellness | Unsplash | Photo by Austin Distel
Cover Image Source: Workplace Wellness | Unsplash | Photo by Austin Distel

Research has consistently demonstrated a positive correlation between employee well-being and productivity, performance, and absenteeism rates. However, recent studies paint a concerning picture of rising work stress levels among employees. According to a 2023 study, nearly 50% of employees reported experiencing high daily stress levels. In addressing these challenges, HR leaders and organizations have employed various strategies, including flexible work schedules, enhanced compensation packages, and prioritizing leadership with strong people management skills.

Pexels | Photo by Fauxels
Image Source: Pexels | Photo by Fauxels

Yet, one aspect often overlooked in the well-being equation is the role of digital technologies. While not a cure-all solution, digital tools such as apps, websites, wearables, and communication platforms like Microsoft Teams or Slack offer employees a convenient and discreet means to address their needs.

These tools can engage individuals who may otherwise hesitate to seek help for their mental, physical, or financial challenges.

Pexels | Photo by Andrea Piacquadio
Image Source: Pexels | Photo by Andrea Piacquadio

Deloitte and Workplace Intelligence's "Advancing Workforce Well-Being" study revealed alarming statistics, with 25% of employees reporting deteriorating mental and physical health, and 37% experiencing a decline in financial well-being.

This data underscores a significant disparity between the perceptions of leadership and staff regarding well-being improvement, with nearly 80% of C-suite executives believing in positive progress, compared to only 33% of employees sharing the same sentiment.

Supervising with managing all the other sales and marketing related activities are pretty challenging|Pexels
Image Source: Photo by Pexels | Pexels

In response to these challenges, Marsh McLennan, a leading New York-based professional services firm specializing in risk management, strategy, and human resources, has embarked on a transformative journey to address employee well-being. 

The pivotal step in this endeavor was the launch of a comprehensive global employee listening campaign, aimed at gauging the pulse of the workforce and identifying areas for improvement. This initiative paved the way for the development of the groundbreaking "@Your Best" strategy, centered around a suite of digital tools designed to provide employees with personalized well-being support.

The cornerstone of this strategy is a user-friendly digital app and website, accessible round-the-clock, catering to diverse well-being needs, including mental, physical, financial, and social aspects.

Through a self-assessment feature, employees can pinpoint relevant resources tailored to their specific requirements, ranging from stress management techniques to nutritional guidance and financial planning advice.

Unsplash | Photo by kate.sade
Image Source: Unsplash | Photo by Kate Sade

One of the distinguishing features of the platform is its emphasis on privacy and inclusivity. Employees have the freedom to access these resources privately or engage in collaborative endeavors, such as team activities and support networks, fostering a culture of solidarity and mutual aid.

For those grappling with more severe well-being challenges, the platform also provides access to therapists through an employee assistance program (EAP), ensuring comprehensive support for all individuals.

Companies Embrace Trends for Employee Happiness. Pexels | By fauxels
Image Source: Pexels | By Fauxels

Jacqueline Brassey, a prominent figure at the McKinsey Health Institute, extols the virtues of digital wellness solutions, emphasizing their versatility as a key advantage. "These tools provide unparalleled flexibility, enabling individuals to access support whenever and wherever they need it most," she said.

Support for workplace well-being has become increasingly integral to an organization's employee value proposition. A study by the American Psychological Association reveals that over 80% of employees prioritize mental health when considering future employment opportunities, underscoring the importance of prioritizing employee well-being.

Pexels | Photo by Andrea Piacquadio
Image Source: Pexels | Photo by Andrea Piacquadio

Despite the promising benefits, several obstacles hinder the success of digital wellness tools. One major challenge involves ensuring that resources align with employees' most pressing needs, thus necessitating a thorough understanding of employee preferences through surveys and feedback mechanisms.

To address these challenges, Brassey advocates for robust adoption and engagement strategies, emphasizing the importance of continual promotion and support from employers. 

MORE ON MARKET REALIST
All of the other sharks said no due to the risks, but Cuban seemed eager to take the gamble.
9 hours ago
The contestant started the game strong but had to wait until the end for the big win.
10 hours ago
The contestant faced a tough puzzle and she was not prepared for that at all.
12 hours ago
Cuban had seen enough of Mr. Wonderful's greedy tactics, and he decided to take a stand.
1 day ago
Fans were also left as confused as the contestant after seeing the puzzle.
1 day ago
The iconic "Jeopardy!" champion has been hosting the show for many years now.
2 days ago
The host remembered the times he was bullied as a young kid after hearing the chant.
2 days ago
The greeting caught Steve Harvey by surprise, and he took several seconds to regain his composure.
2 days ago
The nascent nature of the company prevented the sharks from investing in it.
4 days ago
Harvey seemed quite annoyed after the guest revealed her surprise and rightfully so.
5 days ago
Both Rick and his son Corey had a lot of luaghs while talking about this item for obvious reasons.
5 days ago
She was just happe to be with Drew Carey on stage, and perhaps did not expect such a big win.
5 days ago
The segment started with a couple of people entering the stage wearing cakes over their heads.
5 days ago
The valuation he asked for was as crazy as the outfit he wore, and the sharks said no.
5 days ago
The contestant's answer had no lewd intention but Steve Harvey made sure it did.
6 days ago
Fans of the gameshow are known to be vocal about their needs and this was just an example of that.
6 days ago
The guest stood firm at what he wanted and Harrison was forced to raise his low-ball offer.
6 days ago
The contestant was confident in his abilities and he steered his team to an impressive win.
6 days ago
The sharks could not believe what they had just witnessed but it sure was entertaining.
7 days ago
The guest said that she wanted $15,000 but had to settle for just a couple grand.
7 days ago