Deloitte VP: ‘Embracing human sustainability creates benefits not only for people, but for businesses as well’

In the modern age, business should not just about extracting as much value from workers as possible.

This attitude leads to stressed, burnt out, disengaged workers who are unable to perform at their best.

They are on the lookout for better opportunities elsewhere where their wellbeing would be more prioritized.

Instead, successful organizations are those that ensure their people are thriving at work. This will lead to not just happier workers who are healthier and more productive, but also improve bottom lines.

Deloitte calls this people-centric business mindset shift ‘human sustainability’.

It is a move from “extractive, transactional thinking about workers” to having “a focus on creating greater value for them and all stakeholders within the broader human ecosystem”.

That’s the conclusion of a new report from Deloitte and Workplace Intelligence, which surveyed 3,150 executives and workers in the US, UK, Canada and Australia.

Deloitte’s research found that seven in ten workers said if their organization increased its commitment to human sustainability, it would improve their overall experience at work (72%), their engagement and job satisfaction (71%), their productivity and performance (70%), and their desire to stay with the company long-term (70%).

The executives surveyed agreed – with 82% saying that thinking about workers as people would improve their ability to attract new talent (82%), their appeal with customers and clients (81%) and their profitability (81%).

93% of executives and 88% of workers agree the purpose of a company is not value to shareholders, but also towards employees and society as a whole.

In fact, boards, investors and customers are pushing for employers to do better here – the C-Suite admitted they are not just facing pressure form their workers.

“It can increase their ability to attract and retain a diverse workforce, help them develop and engage workers, and enable them to become more rewarding and productive places to work.”

Speaking exclusively to UNLEASH, Deloitte’s VP of Products, Workforce Strategies Sue Cantrell shares: “Embracing human sustainability creates benefits not only for people, but for businesses as well.”

The problem is, as things stand, most employers have not embraced human sustainability, and their workers are suffering.

Just 56% of workers rated their wellbeing as excellent or good this year, and only one in three workers said their wellbeing had improved last year.

They are struggling with unreasonable workloads, discrimination at work, and an organization that doesn’t lead with empathy.

They are also facing increasing complexity at work, declining physical and mental health and a lack of progress on diversity, equity, inclusion and belonging, according to Deloitte’s research.

Unfortunately, executives largely underestimate the scale of the problems facing employees.

Seven in ten executives believe that wellbeing has improved for their people in the last year. 82% of the C-Suite believe their organization has embraced human sustainability, but only 56% of workers agree.

Deloitte on how to bridge the wellbeing perception gap

It is clear that leaders need to take the time to properly understand the challenges facing employees, and the impact that is having on employee happiness, productivity and business bottom lines.

For Deloitte, the first step is to get better at metrics – at the end of the day, you can’t change what you don’t measure.

Only two in three executives admitted to having human sustainability metrics in place, and just a quarter said they plan to introduce these in next two years.

Cantrell tell UNLEASH: “Organizations should consider a wide range of metrics that cover areas including skills development, wellbeing, purpose, DEIB, career stability and advancement, and societal impact.”

The types of metrics that Deloitte recommended include on skills, wellbeing, purpose and diversity – this is explored more in the professional services giant’s Human Capital Trends report.

After setting out and tracking those metrics, Deloitte called on leaders to make public commitments to look after the wellbeing of their people – these promises also need to be tied to pay and bonuses if organizations can see success on human sustainability.

Seven in ten workers want to see executives take more accountability and responsibilities, and 82% of the C-Suite agree.

Other recommendations from Deloitte include more trainings on human sustainability, and for organizations to leverage their HR team (as well as external consultants) to share best practices.

HR teams, what are you waiting for?