The business case for well-being at work

It's also been a challenging time for Filipinos when it comes to their mental health and well-being. The Covid-19 pandemic and subsequent lockdown disrupted people's lives, work and livelihood. In this year's World Happiness Report, the Philippines' average level of happiness declined, lowering the country's ranking among the happiest countries from 60th to 76th. Many workers have also struggled with their well-being. According to a report by Gallup, 45 percent of workers in the Philippines are experiencing daily stress, the highest in Southeast Asia, while only 31 percent are thriving at work. Meanwhile, a recent study by Deloitte found that 70 percent of Generation Z and 63 percent of Millennials, who make up a majority of the Philippine workforce, experienced burnout. This is concerning because low worker well-being negatively affects work performance. It also contributes to quiet quitting, absenteeism and turnover that creates hidden costs for companies.

As a researcher of well-being at work, I have found that the scientific evidence is clear. If you want workers to perform to their full potential and achieve your bottom line, you need to support their psychological well-being. Unfortunately, well-being is a critical aspect of people management that many business leaders neglect even though HR professionals and organizational psychologists have long advocated for its importance.