The Wellbeing at Work Summit 2024: Key Insights Every Organisation Needs to Know

At the Wellbeing at Work Summit 2024, Pioneera was honoured to join a community of forward-thinking professionals and leaders who are deeply committed to improving employee wellbeing. From innovative discussions that our CEO was part of, to groundbreaking research, the summit highlighted the critical need for businesses to prioritise the wellbeing of their employees, not just as a “nice-to-have,” but as a core business strategy.

Here are the key insights we took away from the summit, and why they’re so important for your organisation:

1. Wellbeing is No Longer Optional: It’s a Business Imperative

The future of work lies in proactive, data-driven strategies that place employee wellbeing at the heart of business success. Research from Gallup, McKinsey, and others shows that organisations that make wellbeing a priority achieve stronger outcomes across the board.

• Top 100 companies prioritising employee wellbeing see a 23% increase in profitability and a 17% rise in productivity.
• When employees feel supported and engaged, companies experience higher customer loyalty, reduced absenteeism, and fewer safety incidents.

For businesses, it’s clear: in the words of Sir Richard Branson, “Take care of your employees and they’ll take care of your business.”

2. Employee Engagement is Key to Wellbeing

Did you know that only 23% of employees are thriving at work? Meanwhile, 62% of workers are either disengaged or quietly quitting. This stark contrast has a direct impact on business performance and overall organisational success.

• When organisations increase engagement, they see significant positive outcomes:
  • 10% increase in customer loyalty
  • 17% rise in productivity
  • 13% improvement in production and performance evaluations

Conversely, disengagement leads to negative consequences, such as higher turnover, more absenteeism, and safety incidents.

3. The Wellbeing Gap: Manager Perceptions vs. Employee Reality

One of the most striking revelations from the summit was the disconnect between how managers believe they're supporting their teams and how employees actually experience that support.

• 92% of leaders believe they are doing a good job of recognising their team’s contributions, but only 20% of employees agree.

This employee experience gap – where workers feel unsupported despite managers’ best intentions – is a silent hazard that’s impacting the psychosocial safety of your workforce. As we learned from our own research this gap needs to be addressed for organisations to thrive.

4. The critical Role of Managers in Closing the Gap

Gallup research shows that 70% of the variation in employee experience can be explained by the manager. Managers have the power to shape the experience employees have at work, influencing everything from engagement to wellbeing.

• A shift is needed from the traditional "boss" mindset to a coaching approach, where managers are actively supporting their teams through weekly feedback and meaningful conversations. These practices help build a collaborative, engaged workforce.

5. Wellbeing as the Power Behind Performance

Wellbeing isn’t just about providing perks or occasional wellness programmes – it’s about embedding wellbeing into the DNA of your organisation. When wellbeing is prioritised and tailored, it results in improved employee health, greater job satisfaction, and ultimately, better business outcomes.

• McKinsey’s 2021 report revealed that organisations neglecting wellbeing are paying the price through lost productivity, high turnover, and increased absenteeism.

The evidence is clear: wellbeing is essential for performance. Investing in your employees’ wellbeing isn’t just the right thing to do; it’s critical for your long-term success.

6. Connecting Change Management to Wellbeing

Effective change management isn’t just about navigating processes, timelines, and tasks – it’s deeply connected to the wellbeing of your employees. In fact, managing change with a wellbeing-first approach can make all the difference in how employees experience transitions and how they adapt to new ways of working.

During times of organisational change, employees often face uncertainty, stress, and the emotional strain of adapting to new environments. This is where change management becomes pivotal. By addressing the emotional and psychological impacts of change, leaders can create a more supportive and secure environment for their teams.

7. Future of Work: Human Intelligence Meets AI 

The summit's closing panel painted a compelling vision of the workplace in 2034. Rather than competing with AI, the discussion explored how we might partner with it to nurture workplaces anchored in purpose and collective hope.

We're entering an era where human qualities become our superpower - workplace success will be redefined around creativity, neurodivergent thinking, and collective wellbeing. While machines handle the routine, our uniquely human traits - like curiosity, empathy, and the courage to care - will drive innovation and sustainable growth.

Perhaps most inspiring was the vision shared that "Kindness" will become our leading KPI in this new chapter.

How to Act on These Insights

The insights from the Wellbeing at Work Summit 2024 make it clear that prioritising wellbeing and employee engagement isn’t just a strategic advantage—it’s a legal and ethical responsibility. 

In light of recent updates from SafeWork Australia, which has announced a ramp-up in psychological health and safety inspections in NSW workplaces, it’s more important than ever for organisations to take proactive steps to ensure they’re meeting their duty to manage psychosocial hazards. SafeWork inspectors are now conducting standardised checks on workplaces with 200 or more employees, including public sector organisations, even if the primary reason for the visit isn’t related to psychological health and safety. 

Organisations that fail to comply will face regulatory action.

With this in mind, here are some actionable steps you can take right now to address wellbeing and ensure your organisation is on the right path:

1. Integrate Wellbeing into Change Management: As discussed, wellbeing is not just a nice-to-have—it’s integral to your organisation’s success during periods of change. By embedding wellbeing strategies into your change management processes, you can ensure your employees are supported, engaged, and less likely to experience stress or burnout during transitions.


2. Conduct Regular Psychosocial Risk Assessments: With SafeWork Australia's increased focus on psychological health, conducting regular psychosocial risk assessments is essential. Identifying hazards early and implementing solutions can prevent workplace stress, anxiety, and burnout, ultimately safeguarding your team’s wellbeing and compliance with regulations.

We can support you with these assessments, and make the complex simple. Simply contact Camille Owen for more information.


3. Provide Clear, Frequent Communication: Communication is a cornerstone of successful change management. Ensure employees feel informed, involved, and supported throughout any change initiatives. Clear communication reduces uncertainty and builds trust, making employees feel more secure and engaged.

4. Equip Managers with Tools to Support Employee Wellbeing: Managers play a critical role in fostering a psychologically safe environment. Provide leaders with training and tools to recognise signs of stress or burnout, offer meaningful feedback, and support their team through both organisational change and day-to-day challenges. Just one meaningful conversation a week can make a huge difference and we can help you measure the benefits.

Check out Coach Indie, our very own AI powered solution.

5. Prioritise Psychological Safety and Take Action Now: In addition to addressing the organisational changes within your business, ensure you’re actively creating a culture of psychological safety. This includes providing safe spaces for employees to express concerns, offering support for mental health, and implementing policies that proactively manage psychosocial hazards. Being reactive is no longer an option—acting now will help protect your employees and safeguard your organisation against future regulatory scrutiny.

Join the Conversation, don't go it alone

At Pioneera, we believe that change starts with meaningful conversations and a supportive network. Our monthly Change Management Working Group offers a space to explore these topics further and connect with like-minded professionals who are committed to improving the wellbeing of their teams.

Ready to dive in? Join us online on the first Tuesday of every month to collaborate, share insights, and take actionable steps toward creating a healthier, more engaged workforce.