Posted on August 31, 2023
- 5% Pledge aims to tackle employee concerns and achieve overall individual and business well-being.
Global economic shifts driven by pandemics, food shortages, and inflation have led to unprecedented uncertainty for businesses and their employees. To gain a better understanding of the challenges confronting employers within this new landscape, Cigna Healthcare, the leading global health services company, conducted a comprehensive survey involving nearly 9,000 individuals worldwide, including 1,100 participants each from the UAE and KSA. The survey aimed to uncover their concerns, assess their current health status, and gain insights into the support needed to promote healthier lives in these challenging times.
Economic Challenges and a Looming Health Crisis
The survey revealed that rising inflation and the escalating cost of living stand as major concerns for individuals globally, with 25% of respondents in the Middle East identifying the inflation crisis as their primary concern. Rising bills and sluggish economies are leading to heightened uncertainty, causing stress levels to mount and mental and physical health to decline. Regionally, 72% of respondents felt that these rising costs were making it challenging to maintain good health, and 54% expressed uncertainty in their ability to meet their own or their family’s medical needs.
Workplace Well-being Requires More Attention
Dr. Dawn Soo, Cigna Healthcare’s Regional Medical Officer for the Middle East and Asia, stressed the need for employers to provide holistic healthcare benefits, initiatives, and a supportive culture where employees can openly discuss challenges. The survey further highlighted the critical connection between employee mental and physical health and productivity, underscoring the necessity of prioritizing employees’ health security as a core ESG imperative.
Recognizing that poor employee mental health isn’t just detrimental to individuals but also impacts organizations’ financial health, Cigna Healthcare introduced the 5% Pledge, urging business leaders to invest 5% of their work time to enhance employee mental health and well-being.
Jerome Droesch, CEO of Domestic Health and Health Services, International Health, Cigna Healthcare, reflected on the survey’s findings: “The survey underscores the delicate balance individuals face in accessing essential healthcare. These figures underscore the critical need to address the affordability of medical services for our workforce.”
He added: “Recognizing the pivotal role of employee well-being in driving organizational success, Cigna Healthcare introduced the 5% Pledge. The Pledge is a commitment to empowering employees with the tools they need to navigate today’s challenges. By prioritizing mental well-being and creating a supportive workplace culture, we are fostering not only healthier employees but also a more resilient business.”
The Path Forward
As uncertainties continue to reshape the business landscape, the Cigna Healthcare 360 Global Well-being Survey highlights the urgency for companies to prioritize employee well-being. By dedicating resources to the health and mental well-being of their workforce, businesses can ensure their resilience and success in an ever-changing world.
Our awards
Middle East CEO of the Year Awards
MEA Markets is excited to announce that the Middle East CEO of the Year Awards will be retuning in 2024! Building on the success of last year’s inaugural campaign, we strive to make this year’s awards even better. Our team are looking forward to delving deeper into the corporate world of the Middle East, recognising the top CEOs and business leaders driving innovation across the region.
Visit our awards here Our awards
MEA Business Awards
MEA Markets is excited to announce that the prestigious MEA Business Awards will be returning to our platform once again in 2024! This ever-popular programme is now entering its eighth consecutive year, and with each iteration we strive to make the latest version even better than the last!
Visit our awards here Our awards
UAE Business Awards
MEA Markets is excited to announce that we are set to host the UAE Business Awards for an eighth consecutive year! The 2024 programme will look to recognise the top performing companies across the various key sectors that make up the UAE’s diverse and evolving industry market.
Visit our awards here
