25 Kawakami, N., Tsutsumi, A. (2016). The Stress Check Program: A new national policy for monitoring and screening psychosocial stress in the workplace in Japan. Journal of Occupational Health, vol. 58, no. 1. https://doi.org/10.1539/joh.15- 0001-ER. 26 Krekel, C., Ward, W., De Neve, J. (2019). Employee Wellbeing, Productivity, and Firm Performance. Said Business School. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3356581; Oswald, A., Proto, E., Sgroi, D. (2015). Happiness and productivity. Journal of Labor Economics, vol. 33, no. 4. https://doi.org/10.1086/681096; Sorenson, S. (2013). How Employee Engagement Drives Growth. Gallup Business Journal; Gallup. (2020, 14 October). Gallup Q12 Meta-Analysis. 27 Oswald, A., Proto, E., Sgroi, D. (2015). Happiness and productivity. Journal of Labor Economics, vol. 33, no. 4. https://doi. org/10.1086/681096. 28 Bellet, C., De Neve, J., Ward, G. (2019). Does Employee Happiness have an Impact on Productivity? Said Business School. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3470734. 29 Umland, B. (2018, 10 April). The surprisingly strong connection between well-being and turnover. Mercer. https://www. mercer.com/en-us/insights/us-health-news/the-surprisingly-strong-connection-between-well-being-and-turnover/. 30 Bellet, C., De Neve, J., Ward, G. (2019). Does Employee Happiness have an Impact on Productivity? Said Business School. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3470734. 31 In this report, generations are sometimes referred to as Gen Z, Millennials, Gen X and Boomers. The authors are aware that some academic research is discussing the usefulness of generations as a concept (see e.g. Costanza, D., et al. (2023). Are generations a useful concept? Acta Psychologica, vol. 241, https://doi.org/10.1016/j.actpsy.2023.104059. Generations are referred to in the text for ease of reporting and pragmatism given that they are well-known with the audience of this report. However, to clarify, Gen Z refers to people born between 1996 and 2010, Millennials refers to people born between 1981 and 1995, Gen X refers to people born between 1965 and 1980 and Boomers refer to people born between 1946 and 1964. 32 Wellhub. (2023). The State of Work-Life Wellness. https://wellhub.com/en-uk/resources/research/work-life-wellness- report-2024/. 33 Coe, E., et al. (2023). Gen Z mental health: The impact of tech and social media. McKinsey Health Institute. https://www. mckinsey.com/mhi/our-insights/gen-z-mental-health-the-impact-of-tech-and-social-media. 34 Grimm, M., Holzhausen, A. (2023, 7 June). The right to work versus the right to retire. Allianz. https://www.allianz.com/ en/economic_research/insights/publications/specials_fmo/ageism-global-demography.html. 35 Sull, D., Sull, C., Zweig, B. (2022, 11 January). Toxic Culture Is Driving the Great Resignation. MIT Sloan Management Review. https://sloanreview.mit.edu/article/toxic-culture-is-driving-the-great-resignation/. 36 De Neve, J., Kaats, M., Ward, G. (2023). Workplace Wellbeing and Firm Performance. Wellbeing Research Centre University of Oxford. https://ora.ox.ac.uk/objects/uuid:8652ce7e-7bde-449f-a5e7-6b0d0bcc3605/files/s6d56zz16v. 37 Ibid. 38 Nelson, N., Sloan, J., Chandra, A., (2019). Examining Civic Engagement Links to Health: Finding from the Literature and Implications for a Culture of Health. Rand Corporation. https://www.rand.org/pubs/research_reports/RR3163.html. 39 Koller, T., Kane, S. (2020). The ESG premium: New perspectives on value and performance. McKinsey & Company. https://www.mckinsey.com/capabilities/sustainability/our-insights/the-esg-premium-new-perspectives-on-value-and- performance. 40 S&P Global. (n.d.). Corporate Sustainability Assessment. https://www.spglobal.com/esg/csa/. 41 Hong Kong Exchange (n.d.). Environmental, Social and Governance Reporting Guide. https://en-rules.hkex.com.hk/ rulebook/appendix-c2-environmental-social-and-governance-reporting-guide-0. 42 European Agency for Safety and Health at Work. (2022, 9 September). Policy, law and guidance for psychosocial issues in the workplace: an EU perspective. https://oshwiki.osha.europa.eu/en/themes/policy-law-and-guidance-psychosocial- issues-workplace-eu-perspective. 43 Coe, E., et al. (2022). Adding years to life and life to years. McKinsey Health Institute. https://www.mckinsey.com/mhi/ our-insights/adding-years-to-life-and-life-to-years; von Hammerstein, C. (2024). Health-related climate adaptation: How to innovate and scale global action for local needs. McKinsey Health Institute. https://www.mckinsey.com/mhi/ our-insights/health-related-climate-adaptation-how-to-innovate-and-scale-global-action-for-local-needs; Rugulies, R., et al. (2023). Work-related causes of mental health conditions and interventions for their improvement in workplaces. The Lance, vol. 402, no.10410. https://doi.org/10.1016/S0140-6736(23)00869-3. 44 A self-assessment survey with comparative analysis. Responses may vary because the survey is based on self- assessment by individual employees and because individuals can, for example, be more likely to report symptoms of exhaustion rather than other aspects of burn-out symptoms, as the former may be more socially acceptable. 45 Definitions of holistic health elements according to the World Health Organization (WHO). Total holistic health data represents the percentage of respondents who reported an average of four or more per sub-dimension or an average of four or more across the four dimensions of health. 46 Data on mental, physical, social and spiritual health represents the percentage of respondents scoring an average of four or more on a five-point scale (strongly disagree, disagree, neutral, agree, strongly agree) on items for each dimension. Data on holistic health represents the percentage of respondents scoring an average of four or more across all dimensions. Thriving Workplaces: How Employers can Improve Productivity and Change Lives 39

Thriving Workplaces How Employers can Improve Productivity and Change Lives 2025