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Over the past few years, more employers have publicly released their diversity data in the name of accountability. But should they also consider publicly sharing their well-being reports? Some executives certainly think so.
In a recent survey from Deloitte, 85% of executives say companies should be mandated to report employee well-being metrics publicly. And surveyed employees agree.
“The benefit and the need for creating a set of standardized metrics that organizations can measure themselves against is one of the primary ways we are going to close that [well-being] gap,” says Jen Fisher, Deloitte’s U.S. chief well-being officer.
At many companies, she says, “there's not a standardized set of metrics to evaluate the progress and effectiveness of wellness initiatives.” There’s also rarely a standardized definition of what well-being in the workplace should look like—or could look like. Both would help leaders know whether they’re on the right track.
“Even if you look at ESG metrics, which are largely focused on health and safety, and look at investments that organizations are making toward employee health and well-being, they're not looking at outcomes,” Fisher tells Fortune.
The fact of the matter is people are struggling at all levels of an organization. Sixty percent of surveyed employees and 64% of managers say they strongly consider quitting their jobs for a role that would better support their overall well-being. And C-suite executives are feeling it at even higher levels, with 75% responding that they consider quitting their jobs for a better sense of well-being.
When it comes to accountability, respondents overwhelmingly agree that executives should be on the hook for employee wellness. Just under 80% of those surveyed believe their leaders should step down if they fail to maintain an acceptable level of workforce well-being, and 72% believe companies should tie executives’ bonuses to employee satisfaction metrics. Genpact is one such company that has already taken the leap, as recently reported by Fortune. In 2020, the professional services firm tied 10% of its CEO and top 150 leaders’ bonuses to employee mood scores.
“With a standardized way to report, measure, and hold ourselves accountable, [we’ll have] a way to understand if the things that we're spending money on are actually valued and being used by the workforce, and also if they're having an impact,” says Fisher.
Amber Burton
amber.burton@fortune.com
@amberbburton
