1st CEO Dialogue: Leaders pledge to champion workplace wellbeing
According to the 2016 Singapore Mental Health Study by the Institute of Mental Health published in 2018, 1 in 7 adults in Singapore experiences a mental health condition in their lifetime, and more than three-quarters do not seek help. Stigma was one of the seven common reasons for not seeking help, which also included financial concerns and the perception that the problem went away by itself. Mental health was one of the three themes at the 2018 World Economic Forum’s agenda, alongside technology disruption and climate change. The Lancet Report predicts that, by 2030, the cost to the global economy of all mental health issues could amount to $16 trillion.
Today, evidence shows that investing in workplace mental wellbeing is not only the right thing but also the smart thing to do, to improve productivity and long-term business sustainability. A 2017 survey of 505 companies by the National Council of Social Service found that for every S$1 invested in workplace adjustments (such as flexible work arrangement, job redesign, etc), it generated an average return of S$5.60 which include a reduction in absenteeism and medical claims and an increase in productivity.
Recognising that leaders play a key role in integrating wellbeing in their company because they can influence change and shape the company’s vision, purpose and culture, the WorkWell Leaders Workgroup organised its first ever CEOs+Leaders Dialogue session at PwC Singapore on 17 October 2019.
20 CEOs and key leaders from both the private and public sectors, including Hsieh Fu Hua and NMP Anthea Ong, met in the closed-door dialogue to address the need for leaders to champion workplace wellbeing as a strategic priority. The leaders learned with, and from each other, as they shared strategic and practical insights on employee mental health within their respective organisations.
Workplace wellbeing has a direct impact on productivity and innovation, and in the quality of life of employees. “Every employee is a member of our society. Therefore it is clear that a caring, inclusive, innovative and resilient Singapore can only come from caring, inclusive, innovative and resilient workplaces. As leaders, this is our contribution to making a difference to our society through making workplace wellbeing a strategic imperative. This is our responsibility, and legacy,” Anthea Ong, founder and spokesperson of the WorkWell Leaders Workgroup.
To seal their commitment, the leaders signed a joint pledge at the end of the dialogue to champion and prioritise mental wellbeing within their organisations, and the wider Singapore workforce. They will be continuing the conversation and share best practices in subsequent CEOs+Leaders Dialogue sessions, with new CEO participants. Through these dialogues, the leaders will co-create Singapore’s first cross-sector workplace mental wellbeing commitment and high-level roadmap.