Investing in employee health can add $11.7t to global economy: report

Only 57% of employees worldwide report good holistic health, and 20% experience burnout symptoms.

Investing in employee health is a powerful strategy that can generate up to $11.7t in global economic value, McKinsey Health Institute said.

In its report, the health research firm noted healthier employees lead to increased productivity, reduced absenteeism, lower healthcare costs, and improved retention rates.

The current state of workforce health presents significant challenges. Only 57% of employees worldwide report good holistic health, and 20% experience burnout symptoms.

Certain demographics, including LGBTQI+ individuals, younger employees, lower-income workers, and neurodivergent employees, tend to report worse health outcomes.

Industry-wise, burnout is highest in accounting, retail, agriculture, and shipping, whereas human resources, construction, education, and administrative services have the healthiest employees.

From a business perspective, prioritizing employee well-being has direct financial benefits. Studies show that companies with healthier employees experience 10-21% higher productivity, while reducing absenteeism and presenteeism saves businesses billions of dollars annually.

To create a healthier workforce, organizations must take a structured approach. The first step is to assess baseline employee health through surveys and data analysis. From there, companies can develop targeted interventions such as well-being programs, flexible work arrangements, and mental health support.