Are employees in Indian organisations thriving at work? Apparently no, if recent reports are to be believed. According to the survey report, most of the employees in Indian organizations are not just dissatisfied but also stressed at work, and therefore, not thriving. In fact, only 24 per cent of employees experience wellbeing at the workplace. That means, over three-fourth of all the employees working in organisations across the country are experiencing low levels of wellbeing.
Of those who admitted to thriving at the workplace, a whopping 93 per cent revealed that their managers were empathetic leaders who practised what they preached. In other words, they believed in leading by example.
More than 67 per cent of employees thought their employers are accountable for the creation and maintenance of safe and happy workplaces. Happy workplaces comprise supportive managers and an environment characterised by inclusivity, acceptance and meaningful interactions.
However, such workplaces are rare in the country. Not surprisingly, 40 per cent of the employees who admit to not thriving at their workplace are planning to switch jobs in a year’s time. Such employees account for 30 per cent of the entire workforce. That is three times the maximum turnover rate of healthy/thriving employees in most sectors.
It is time for employers in India to sit up and take note because these numbers are worrisome. According to a Gallup survey, investing less in employee wellbeing results in higher medical costs, productivity losses and high turnover. Globally, about $322 billion was lost on this account according to a Gallup survey cited in the report.
What is comforting is, wellbeing is not being neglected in organisations in India alone. This is a global issue. Globally, only 25 per cent of employees admit to thriving at the workplace.
In terms of the generations, only 20 per cent of Gen Z is thriving, compared to 24 per cent of Millennials and 27 per cent of Gen-X. Only 67 per cent of those in the18 to 26 age bracket, that is, Gen Z, is able to trust their employers and their capabilities when it comes to employee wellbeing. The figure is better for Millennials, with 78 per cent expressing more trust in their employer’s abilities to invest in and focus on employee wellbeing, followed by 74 per cent Gen-X.
Given the fact 88 per cent of employees in India would choose to work for organisations that prioritise employee wellbeing and development, it is time for the HR and hiring managers to pay attention to employee wellbeing.