The human touch: How CFOs can support a culture of well-being

Introduction

How are you feeling?

It’s a question too few C-suite executives seriously ask one another, their employees, or even themselves. Scrambling from one meeting to the next, they may not find time to take a breather. Emotions can be contagious. And corporate leaders may be unaware of their own moods—or those of others—at any given time.

The disconnect between executives and employees surfaces in Deloitte’s second annual Worplace Well-being Survey.¹ More than three-quarters of C-suite leaders surveyed believe the health of their workforce has improved, but many employees seem to see it differently. Most feel their health has worsened or stayed the same since last year’s survey.² Are executives upfront about their own emotional state and feelings? According to 72% of them, they share well-being information with their employees either “always” or “often.” Just 16% of workers, however, confirm seeing this level of transparency.³

Large organizations spend an average of roughly $10.5 million a year on well-being programs.⁴ These can include offerings such as emotional support, financial health, and physical activity. By providing a mixture of well-being programs, policies, and benefits, some companies may reduce both direct (insurance premiums, workers’ compensation claims) and indirect (employee turnover, absenteeism) costs. But such outcomes may only be possible if executives and employees alike can become more aware of each other’s wants and needs, aligning around a well-being plan fostering a sense of belonging.

In this edition of CFO Insights, we’ll explore the influential role CFOs can play in supporting a thriving well-being culture. What does it mean to lead with well-being? Which policies and practices promote utilization? And how can leaders even begin to assess worker well-being?

Endnotes

¹ “As workforce well-being dips, leaders ask: What will it take to move the needle?,” Deloitte Insights,  June 20, 2023.

² “The C-suite’s role in well-being,” Deloitte Insights, June 22, 2022.

³ “As workforce well-being dips, leaders ask: What will it take to move the needle?”

⁴ “Why corporate well-being initiatives aren’t doing so well—and what companies can do about it,” podcast, Deloitte Insights, February 15, 2023; “Employers Enhance Well-Being Benefits for a Post-Pandemic Workforce,” Society for Human Resource Management, June 16, 2021.

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