New Delhi/Mumbai, 15th June 2023: Gi Group Holding India, a global leader in human capital solutions and services, has released its third research report: “The Safety Net: Supporting Employee Well-being with Psychological Safety 2023”. This research surveyed over 500 employer responders and over a thousand employee respondents across six major cities in India: Bengaluru, Chennai, Kolkata, Mumbai, NCR, and Hyderabad. The report covers key sectors such as Auto, BSFI, Consumer durables, FMCG, E-commerce, Health, IT/ITES, and Retail, spanning organizations of varying sizes. With the ultimate goal of highlighting the importance of mental wellbeing in fostering a sustainable and enriching labor market, this study examines how psychological safety at work is instrumental in building a transformative and positive work environment for employees, organizations, and society as a whole.
Gi Group Holding India’s latest research highlights the crucial role of psychological safety in workplaces, revealing its impact on employee satisfaction, mental health, innovation, talent attraction, and retention. According to the survey, 94% of employees recognize the indispensability of psychological safety, while 79% of employers prioritize cultivating a safe environment. The study emphasizes that 74% of employees believe a psychologically unsafe workplace can harm mental health. While 57% of employers are familiar with psychological safety, a minor group of 35% of employees share the same awareness, underscoring the need for increased communication and education. Younger workers aged 26-45 display the highest recognition at 96%, compared to 86% for those aged 46 and older. Smaller organizations (98%) lead in recognizing psychological safety, followed by medium-sized (95%) and large organizations (88%).
On the launch of the third research report, Sonal Arora, Country Manager at Gi Group Holding, India, said, “We are elated to launch our research report for the year 2023 on Employee Well-being with Psychological Safety. We first initiated our efforts to highlight this key issue impacting our society in the 2021 edition of our report, which focused on growing awareness level of mental health issues in our country, specifically in the corporate sector. This was followed by the second report issued in 2022, which addressed some of the challenges faced by today’s employees, including stability concerns and the need for responsible and trained leaders who understand workplace stress and job insecurity. With the 2023 report, we are highlighting the enablers required for creating a nurturing environment that fosters psychological safety, allowing employees to thrive both professionally and personally.”
Gi Group’s research reveals that in-office workers report lower levels of psychological safety compared to hybrid and remote workers, indicating workplace biases, misconduct, and absenteeism as indicators of an unsafe environment. Stigma hinders open discussions on mental health concerns and biases. Feedback mechanisms and non-discrimination policies are crucial for creating supportive and inclusive workplaces. Employees recognize leadership and HR departments as responsible for promoting psychological safety, highlighting the importance of behavior and communication training. Nowadays, employers prioritize employee well-being, introducing mental health leaves and tweaking work principles for a conducive environment. They provide the necessary aid through employee assistance programs, showing a commitment to fostering a supportive work culture.
Emerging trends in the employment sector:
As per trends, the employment sector is experiencing transformative changes driven by emerging futuristic additions. By examining these trends, the report provides valuable insights into the evolving employment landscape and its implications for both employers and employees.
● According to sources, trends such as the adoption of remote and flexible work arrangements are leading to a paradigm shift in traditional work models. Companies are increasingly embracing flexible arrangements, allowing employees to work from anywhere, which improves work-life balance and broadens talent pools.
● There is an increased emphasis on digital skills and upskilling. The digital revolution has created a demand for specialized skills, such as data analytics, artificial intelligence, and cybersecurity. To remain competitive, individuals and organizations must invest in continuous learning and upskilling to meet the evolving demands of the digital economy.
● The integration of artificial intelligence and automation is becoming an integral part of the employment landscape as technology advances.
● There is also an increased focus on diversity, equity, and inclusion. Companies are recognizing the value of diverse and inclusive workplaces, not only from a social standpoint but also as a driver of innovation and performance. Employers are actively implementing strategies to promote diversity, ensure equal opportunities, and foster inclusive cultures.
Speaking of the growing awareness of Psychological Safety, Ms. Arora said, “It’s uplifting to see employers prioritizing employee psychological well-being. Companies are adjusting work principles, introducing mental health leaves and sabbaticals, recognizing the importance of work-life balance. With changing trends, organizations are recognizing the need to create supportive work environments that prioritize well-being. By prioritizing mental well-being, we not only enhance the lives of our workforce but also drive productivity and sustainable growth. Together, we can navigate the new employment landscape with empathy and compassion, ensuring a brighter future for both employers and employees.”
Click on the link to download full report: https://in.gigroup.com/all-in-the-mind-the-state-of-mental-health-in-corporate-india/
For more information and to access the complete report, please visit https://in.gigroup.com/
