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
"Not very helpful with only one letter on the board, and I can’t believe we have 3 car losses in one week," a fan reacted.
4 hours ago
The guest said that his great-great-grandmother documented everything that went on back then.
15 hours ago
Fans of the show were happy with the win but not with how the game was played.
16 hours ago
Customers have been urged to destroy the affected products and ask for a refund.
19 hours ago
Powell claimed that wealthy Americans held most of the high value assets like real estate and stocks
20 hours ago
The company said that affected employees will have 90 days to find a new role internally.
22 hours ago
"We applaud that the federal government is providing innovative solutions for employees and families to plan for their future," BoAf stated.
1 day ago
"Twanda was caught up in the "Busy Highway" and missed out on the Mustang. She ended up with a disappointing under $15,000 in prize," a fan reacted.
1 day ago
At that point the "Abbott Elementary" star absolutely had to get the answer right.
1 day ago
It must have been a hard loss to take as he came mighty close to winning it all.
1 day ago
The affected products first went on sale in 2019, with some even sold overseas.
1 day ago
The FDA quickly took note of the matter and slapped a Class II warning on the affected products.
1 day ago
This could be good news for many who may be eligible for compensation.
1 day ago
"These actions are designed to reduce complexity, improve flexibility, and build a responsive and efficient operation," Nike stated.
1 day ago
"Amazing that she solved it before the clock even started!" a fan reacted.
2 days ago
She said that she had joined a financial company but chose to be on the set on her first day.
2 days ago
There has yet to be any reported illness from the consumption of the affected products.
2 days ago
The Social Security trust fund is running dry and before long, things may get dire.
2 days ago
The President's policies are not being favorably looked at by millions across the country.
2 days ago
This will be welcome news for millions who have suffered the affordability crisis.
2 days ago