The future of work is wellbeing

New research has found that employees’ mental health and wellbeing at work is becoming increasingly important.

In 2022, businesses of all sizes and across Queensland are proactively transforming their workforce and workplace to maximise long-term business opportunities and respond to emerging trends.

The recently released Future of Work Report highlights key drivers in work trends and how they’ll impact Queensland businesses, now and in the future. It found mental health and wellbeing support as the top work-life concern.

The Future of Work Report was developed by the Chamber of Commerce and Industry Queensland (CCIQ) and details insights into future trends among workforces. CCIQ surveyed more than 550 businesses across Queensland and engaged the wider business community through virtual workshops and forums.

Critical impacts from mental health

The survey revealed that business owners believe mental health and wellbeing is the most important factor for work-life and will be an ongoing issue in the future.

More than 70% of those surveyed say mental health and wellbeing in the workplace will have moderate to critical impacts on their business, while 37% of businesses expect significant to critical effects¹.

Wellbeing support in the workplace

According to the Black Dog Institute, a holistic approach to mental, physical, and financial wellbeing to improve workplace wellbeing can make good business sense. The benefits can include:

1. A more productive workplace with reduced absenteeism and presenteeism,
2. The attraction and retention of employees, and
3. Cost savings through increased productivity and reduced worker’s compensation claims.

A recent study by PwC Australia, What Workers Want², revealed that it’s become more common for employees to consider work as a source of social support with:

• More than one-third of Australian workers (37%) considering their employer as their main source of mental health support, and
• Nearly a quarter of workers (22%) valuing employer support for their wellbeing above all other factors.

Financial wellness and work

Implementing financial wellbeing programs can be a great way to show you put your employees first, while also improving productivity and workplace morale.

Employees increasingly expect their employers to provide financial wellbeing programs in the workplace, as reflected in our QSuper Financial Wellbeing in the Workplace Report³.

Workplace financial wellbeing strategies include:

• Sharing financial wellness information via email and in common areas. MoneySmart’s free financial education resources can be a great place to start.
• Organising sessions that cover basic financial wellness like budgeting, tax returns and superannuation.
• Offering employees workplace benefits that reduce financial pressure, like free breakfasts and coffee and tea in the kitchen.
• Providing an Employee Assistance Program (EAP) that gives employees access to professional wellbeing support.

How we can help

We can help your employees feel in control and confident about their financial future. Our comprehensive workplace talks program covers a range of super topics for employees at any stage of their careers, from those just starting to older workers nearing retirement. We also offer a range of helpful online tools and resources like videos, podcasts, calculators and articles.

Contact us

Let’s work together to tailor a workplace talks program for your team. Reach out to our team.

1. Chamber of Commerce and Industry Queensland, The Future of Work Report, accessed 26 October 2022 at cciq.com.au.
2. Price Waterhouse Coopers, What workers want, accessed 26 October 2022 at pwc.com.au
3. QSuper, Financial wellbeing: survey results, accessed 26 October 2022 at qsuper.qld.gov.au