Welcome to our August roundup of the latest workplace culture news and trends! As organisations continue to recognise the importance of fostering a healthy work environment, new strategies, policies, and innovations are emerging to support employee mental and physical health. In this article, we’ve curated the top five news stories from the past month that highlight significant developments in workplace wellbeing. From groundbreaking research findings to inspiring corporate initiatives, these stories provide valuable insights for employers and employees alike who are committed to creating a healthier, more supportive workplace. Read on to stay informed and inspired by the latest research.

Accounting’s mental health emergency: 90% report stress and ‘significant’ harm to wellbeing after industry exodus (HR News, 2 August, 2024)

The accounting industry is grappling with a mental health crisis as 90% of workers report experiencing significant stress and damage to their wellbeing in the wake of a mass exodus from the profession. Contributing to this alarming trend are high workloads, extended hours, and the inherent complexity of accounting roles, which have left many professionals feeling overwhelmed and burned out. This urgent situation calls for immediate action from industry leaders to alleviate stressors and prioritise mental health support for their workforce.

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Mental Health Related Leaves-Of-Absence Up 300% Since 2017 (Forbes, 10 August 2024)

Recent data reveals a staggering 300% increase in mental health-related leaves of absence since 2017. This significant rise reflects both a positive trend of reduced stigma around mental health issues and a concerning increase in workplace stress and burnout. As employees become more aware of their mental health needs, companies are being urged to implement proactive policies and provide accessible mental health resources to support their teams effectively.

Why Insurers Reject Stress Claims (Lockton, 14 August 2024) 

Work-related stress claims are frequently denied by insurers due to difficulties in proving that the stress directly resulted from specific workplace conditions. Insurers argue that stress is subjective and often influenced by various factors outside the workplace, making it challenging to validate claims. As a result, companies are urged to take proactive measures, such as enhancing mental health support and stress management programmes, to prevent such claims and support their employees’ overall wellbeing.

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CEOs, Gen Z Face Mental Struggles (TechRepublic, 16 August 2024)

Businessolver’s 2024 State of Workplace Empathy Study, which surveyed over 3,000 CEOs, HR professionals, and employees, reveals a troubling decline in mental health across several employee groups. The study found that 55% of CEOs and 65% of Gen Z employees are grappling with mental health issues, highlighting the urgent need for better mental health resources and empathetic workplace cultures.

US Corporate Wellness Growth (ResearchAndMarkets, 20 August 2024)

The U.S. corporate wellness market is on track for substantial growth from 2024 to 2029, driven by a rising interest in remote wellness programmes, flexible work arrangements, and a holistic approach to employee wellbeing. Companies are increasingly focusing on comprehensive wellness strategies that encompass not only physical and mental health but also social wellbeing, reflecting a broader commitment to nurturing a healthy, balanced workforce.

As the landscape continues to evolve, it’s clear that organisations must prioritise the mental and physical health of their employees more than ever. From the alarming mental health crisis in the accounting industry to the increasing demand for targeted support for women and a growing focus on holistic programmes, the past month’s news highlights both challenges and opportunities in creating healthier work environments. Addressing these issues proactively with thoughtful strategies and comprehensive resources can lead to more resilient, engaged, and productive workforces. As we move forward, it’s essential for companies to keep their people and culture at the forefront of their priorities, recognising that a healthier workforce is not just good for employees—it’s good for business, too. Stay tuned as we continue to track these vital trends and share insights on fostering healthy performance in the workplace.