Author: Nancy Ortiz, researcher at the Thematic Area Research Group in Responsible Production, Marketing and Consumption of Business School of Tecnológico de Monterrey.
Companies are finding that it is more and more important to ensure the welfare of their workforce (Gartner, 2020). As a result, some are taking on the responsibility of creating internal strategies and raising the funds allotted for programs that promote well-being. Certain tactics in Mexico target the new rules put in place by the STPS (Secretaría del Trabajo y Previsión Social). One such regulation is NOM35, the Official Mexican Standard, which aims to protect the physical and mental integrity of Mexican workers while removing psychosocial risk factors and fostering better work environments. Others focus on situations that are becoming more common and obvious, like chronic fatigue, burnout, depression, high levels of stress, and anxiety, because they have a direct impact on how well a business performs.
Mexico leads the world in occupational stress, according to the World Health Organization. Similarly, the OECD (2021) reports that 29% of Mexican workers put in excessive hours at work, making Mexico the country with the longest workweeks. In this situation, businesses are taking the lead, albeit sometimes in an unsustainable way considering the large sums of money they are spending and their lack of success. When efforts fail to meet the goal and employees' expectations are not fulfilled, many factors become apparent (Gartner, 2019); one such factor is that "well-being" is not a problem that can be solved with a budget alone; rather, it requires empathy, compassion, and a human-centered approach. According to the conscious capitalism perspective, therefore, improving the well-being of employees within the company should go beyond strategies, programs, or processes because it is the right thing to do, and failing to do so can easily be perceived as adding to feelings of discontent or dissatisfaction. Conscious capitalism naturally gives rise to talent management practices that are loving and caring; these elements should influence how leadership is exercised and become ingrained in the company culture, allowing any size business to strive for happier workers. I have come across SMEs that, despite their tight budget, exhibit strong organizational cultures that are resonant with traits like loyalty, trust, transparency, and solidarity—all of which are indicative of conscious cultures. They also exhibit a high degree of cohesion and a sense of belonging.
Certain ideas have surfaced as practices to be put into place to make employee well-being the rule rather than the exception; "employer branding," for instance, is an idea that combines psychological, functional, and financial benefits for the worker, or emotional salary, which specifically aims to make an employee feel at ease in a company beyond the financial benefits received. Conscious business management considers it not only desirable but also necessary that employees feel happy in their workplace.
Understanding that the concept of well-being is complex because it integrates various dimensions to achieve such balance is important. A person's well-being is defined as the balance between positive and negative effects, where emotions determine such effects. A fuller life can be attained by addressing factors that are spiritual, physical, intellectual, emotional, and relational, as outlined in Tal Ben-Sahar's SPIRE model. According to McKinsey (2015), the relational component is one of the best indicators of both life and work satisfaction.
Since there is much to be done to address this matter, where should employees start to improve their well-being? with an all-encompassing vision that incorporates the aforementioned aspects. The options are varied, taking into account that the pandemic changed the nature of the workplace and that elements like flexible work schedules, remote work, or hybrid work are becoming more prevalent. Other factors that may help include work-life balance, organizational support, manageable workloads, granting some degree of personal control over work, fostering relationships, and allowing employees to feel involved in changes made to the workplace. All of these factors may contribute to increased job satisfaction and, consequently, higher levels of well-being.
Although excessive working hours are a result of historical labor patterns during times of crisis, employees have the right to enjoy their free time. As Juliet Schor stated, "Let's move from a scarcity mindset to appreciating the true wealth we possess."
The first steps to begin building employees' well-being are to put them at the center of the organization and recognize their true value as individuals. This involves empathizing with them, and understanding that they are unique, integral beings with personal and family issues, regardless of their organizational responsibilities, and with multiple interests outside of work. All of this comes before beginning to move the entire organizational machinery.
Let's cultivate better work environments by sparking our genuine interest in people! Let's be conscious of this and let's take action.
Originally published in El Financiero.