From Burnout to Thriving - How the Emotional Economy Is Shaping the Future of Work

Last week, I had the pleasure of attending Day 1 of the Sydney Summit of Wellbeing at Work World , and it was a day that echoed a lot of recent insights and discussions. Here are some of my key takeaways, which I believe are highly relevant to the work we do at Family Friendly Workplaces and Parents At Work , where our focus remains on enhancing work-life wellbeing in meaningful ways.

Gallup’s Take on the Emotional Economy

The day kicked off with a presentation by Gallup, and it was both eye-opening and validating. It was comforting to see that their findings echo the trends from our own 2024 National Working Families Report.

One powerful question stood out:

"Are your employees better off because they work for you?" — Claire de Carteret ( Gallup )

This question challenges us to rethink the definition of work itself, shifting from a focus on tasks to a broader perspective of contribution and purpose. It was a timely reminder that when we invest in employee wellbeing, we invest in "a life well lived".

Key Takeaways:

• The rise of catchphrases like The Great Burnout, Bare Minimum Mondays, and Quiet Quitting reflect the growing levels of stress in the workplace.
• Gallup’s Blind Spot: The Global Rise of Unhappiness and How Leaders Missed It, and their 2024 State of the Global Workplace reports provide further insights on the escalating emotional costs in today’s workforce.
• The concept of the Emotional Economy is gaining traction. With only 30% of decision-making being rational and 70% emotional, leaders must pay attention to sensations, emotions, and desires to unlock productivity.

A memorable slide from the session highlighted the significance of a holistic approach:

"Employees want a great job and a great life. When managers and organisations show they care about individuals' wellbeing inside and outside the workplace, employees will drive your organisation's performance."

The Power of Wellbeing in Performance

Dr Patrick Aouad , CEO of CU Health , emphasised the tangible impacts of wellbeing on business performance. With mental health costs accounting for $2.5 billion and employees losing over 655,000 workdays to mental health issues, it’s clear that investing in wellbeing is no longer optional.

This session also underscored the link between wellbeing and ESG (Environmental, Social, and Governance) metrics. It’s time to measure what matters and consider linking bonuses to KPIs on employee wellbeing - now that's an idea!

Compassionate Leadership

One of the standout panels was on Compassionate Leadership. As Simon Sinek defines it, compassion is empathy plus action. It was encouraging to hear a leader from a Founding Partner of Family Friendly Workplaces advocate for normalising the conversation around compassion in the workplace, breaking down outdated gender stereotypes around caregiving.

"It’s not men work, women care — it’s about investing in compassion for everyone." — Catherine McNair ( QBE Insurance )

Shout-out to our partners:

• Medibank ( Melanie Moffatt ), who are a long-time supporting partner of Family Friendly Workplaces
• Catherine McNair from QBE Insurance, who shared insights during the panel discussions, reinforcing the need for inclusive leadership and a proactive approach to mental health.

Are EAPs Still Fit for Purpose?

A session led by Jodette Cleary from hipages Group questioned the relevance and usage gap of traditional Employee Assistance Programs (EAPs). This conversation resonated with my recent discussions with clients who expressed concerns about whether EAPs provide specific enough support and are aligned with company dynamics. The consensus? We need to expand wellbeing programs to offer more tailored and accessible resources.

Practical Tips for Employers: Eliminating Psychosocial Risks

The day wrapped up with a session from Alana Rafter from Australian Business Lawyers & Advisors (ABLA) on employer duty to address psychosocial hazards. With recent changes in NSW legislation, there’s a stronger focus on eliminating or minimising these risks.

Alana made the legislation accessible and relevant to everyone by sharing practical tips:

• Providing relevant information to workers - specify the intended purpose
• Reviewing the ongoing effectiveness of initiatives
• Gathering regular feedback from employees to refine support measures

Final Thoughts

The overarching message from Day 1 of the Wellbeing At Work Summit was clear: organisations that make wellbeing a strategic priority will thrive. It’s not enough to be reactive; we must be proactive in addressing mental health, chronic stress, the struggle & juggle, and the overall emotional economy of the workplace.

At Family Friendly Workplaces, we’re already supporting employers with tailored strategies to enhance employee wellbeing — from flexible work policies and leadership training to comprehensive support programs for parents and carers.

If your organisation is ready to take the next step in building a thriving, family-inclusive culture, reach out. Let’s redefine what it means to work well.