Traditionally, the concepts of wellbeing and productivity were often viewed as opposing forces in Asian workplaces. However, as we step into 2024, post the peak of the pandemic, it has become evident that the notion of an “either-or” scenario is outdated.
This paves the way for the Intellect Dimensions Benchmarking Report 2024. Salary benchmarks across various industries are commonly discussed, but what about benchmarks for something as intangible as workplace wellbeing?
It might be tempting to presume that certain industries are more prone to feelings of stress and burnout, but what the data says may surprise you.
Intellect Dimensions Benchmarking Report 2024
The study encompasses insights gathered from surveying 50,000 individuals spanning ten diverse industries:
- E-commerce and Online Services
- Education
- Finance and Insurance
- Government and Non-profit
- Healthcare and Pharmaceuticals
- Luxury, Retail, and FMCG
- Manufacturing
- Professional Services
- Real Estate and Hospitality
- Technology and Telecommunications
- Others
The primary aim of this study is to establish benchmarks for workplace wellbeing within each industry. This enables employers to gauge whether they surpass, lag behind, or align with the sector’s average standards.
Beyond the valuable findings from Intellect’s research team, users of the report can tap into the recommendations provided by our organisational psychologist to instigate meaningful change.
Notably, users gain the ability to quantify the Return on Investment (ROI) of a workplace wellbeing program in tangible monetary terms. This feature empowers HR professionals and company leaders to justify the costs of improving workplace wellbeing. Learn more about it on our report here.
Before we get ahead of ourselves, let’s define the scope of workplace wellbeing.
Defining workplace wellbeing
Workplace wellbeing goes beyond a simplistic measure of employee happiness. This is why our approach goes beyond the conventional questionnaire with five smiley faces for employees to choose from.
To address the intricacies of workplace wellbeing, we have broken it down into two core pillars: Organisational Health and Employee Productivity.
Within an industry’s Organisational Health Score, we consider three essential components: Work Engagement, Employee Wellbeing, and Organisational Support.
Simultaneously, the Employee Productivity Score for an industry is evaluated through two key components: Absenteeism and Presenteeism.
These comprehensive scores are derived through the application of Intellect Dimensions, our exclusive and clinically-validated screening tool for wellbeing. In essence, Intellect Dimensions assesses 13 personal factors that influence the aforementioned components:
- Growth Mindset
- Self Awareness
- Self Efficacy
- Goal Orientation
- Purpose and Meaning
- Optimism
- Resilience
- Emotion Regulation
- Stress Management
- Relationship Building
- Encouraging Participation
- Work-life Balance
- Mental Wellbeing
Key insights
Upon scrutinising the Organisational Health and Employee Productivity Scores across the ten industries, this is what we found.
1. Top performer in Employee Productivity
The Technology and Telecommunications industry clinched the highest Employee Productivity score, boasting Presenteeism and Absenteeism scores of 36.64% and 6.49% respectively. Notably, their employees secured the top position for Work-life Balance among the 13 personal factors outlined earlier, challenging the notion that these outcomes are mutually exclusive. For details on the second and third rankings, refer to our downloadable report.
2. Top performer scorer for Organisational Health
While the Technology and Telecommunications industry staked their claim on the “Most Productive Industry” label, the Healthcare and Pharmaceuticals industry took the lead in Organisational Health.
As the past few years have taken an exceptional toll on healthcare workers, it is perhaps surprising that they surpassed all other industries in the Employee Wellbeing component. What gives? We explore the sector’s comeback in detail in our report.
3. Leading countries in Employee Productivity and Organisational Health
Across Asia Pacific and globally, Japan stands out with the highest Employee Productivity Score at 76.48%, followed by Vietnam and the Philippines. Vietnam also excels in Organisational Health, followed by Thailand and, once again, the Philippines.
Singapore, in terms of Employee Productivity, falls a few percentage points below the regional benchmark, while its Organisational Health Score slightly surpasses the benchmark, indicating room for improvement.
4. The four horsemen of workplace wellbeing
Delving into what distinguishes the industries and regions above, it becomes apparent that certain personal factors among the previously listed show a stronger correlation with both Employee Productivity and Organisational Health. These factors serve as the key determinants shaping workplace wellbeing:
- Purpose and Meaning
- Optimism
- Encouraging Participation
- Resilience
This information isn’t just valuable for HR professionals to identify these qualities during the hiring process; it also underscores the potential to instill them in the existing workforce.
For instance, providing coaching opportunities for employees can assist them in discovering a sense of purpose and meaning, fostering greater motivation in their work. Likewise, training managers in Encouraging Participation can elevate levels of psychological safety.
Download the full report
This is a preview of the Intellect Dimensions Benchmarking Report 2024, which includes industry-specific:
- Organisational Health and Employee Productivity scores
- Strengths and areas of improvement
- Insights and recommendations
Get the full picture here.
