Work well-being has not recovered from the pandemic

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Employee well-being in some of the world’s most advanced countries has failed to rebound following the pandemic and, in most cases, has continued to decline.

Just 22 per cent of workers in Australia, Canada, Germany, France, the United Kingdom, India, Japan, Brazil, the Netherlands and the United States are thriving at work, according to a global study by Indeed Inc.

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Its report said work well-being, a composite metric that includes happiness, satisfaction, purpose and stress, was above 75 in January 2020 and has now fallen below 70 (scores can range from 40 to 100).

“We’ve learned that despite our efforts, the state of work well-being has not rebounded to pre-pandemic levels,” LaFawn Davis, chief people and sustainability officer at Indeed, said in the report.

“In fact, over the past four years, we have observed a concerning decline. This trend underscores an urgent need to redouble our efforts in fostering workplaces where employees can thrive.”

Broken down by country, Canada scores in the middle of the pack in all four metrics, while Brazil and India scored highly in each of the categories. Japan scored poorly in all categories.

A strong and happy workforce has implications for a company’s bottom line, with higher employee well-being linked to companies with higher valuations, return on assets and profits, at least among the 1,782 U.S.-based publicly listed companies the survey examined. The top 100 U.S.-based companies for well-being also outpaced the stock market last year.

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“Employers should strive to create harmonious environments where people can balance their purpose, careers and personal lives in meaningful ways that bring lasting contributions at work and in society,” Davis said.

“The combined impact of belonging, positive energy and inclusion are universally influential, demonstrating that social capital at work creates employees who are more likely to be engaged, productive and committed.”

There are several ways to boost workplace well-being, including an embrace of flexible work, improved training, stable schedules and adequate staffing levels, according to the Harvard Business Review.

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The Toronto Regional Real Estate Board said 3,359 homes were sold in December throughout the GTA, down 1.8 per cent compared to a year ago.

This comes after both November and October saw year-over-year increases of more than 40 per cent.

The average selling price also fell by 1.6 per cent to $1,067,186.

Read more here.

• Liberal caucus meets today for the first time since Prime Minister Justin Trudeau announced he would step down, triggering a leadership race.
• 2 p.m.: United States Federal Reserve to release its Federal Open Market Committee (FOMC) minutes.
• Today’s Data: U.S. ADP National Employment Report for December

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Today’s Posthaste was written by Ben Cousins, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.

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