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Mental Health a Top Challenge for Diverse Employees, Consumers Willing To Try New Brands

By Net Assets posted 11-23-2020 10:48 AM

  

(From McKinsey) New research shows that despite companies’ recent efforts, diverse employees — including women, LGBTQ+ employees, people of color, but also working parents — are having the hardest time, both in the workplace and with balancing work and home life. In a new report, McKinsey surveyed 1,100 executives and 2,656 employees and found that while 96% of companies globally have made changes to their HR policies and increased employee resources, only 1 in 6 employees report feeling supported and 62% of employees globally “consider mental health issues a top challenge.” An even larger share of women, 67%, said that mental health was their biggest coronavirus-related challenge.

McKinsey’s report gives actionable advice for how employers might execute these efforts. “LGBTQ+ employees, and POC in particular, cited concerns with workload increases, and more workers expect this to be a challenge in the next six months,” it reads. “Addressing this may require companies to rethink expectations on worker productivity and performance, expand benefits like paid time off, and support employees in establishing boundaries between work and home life.”

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(From ICEF Monitor) The 2020 Edelman Trust Barometer, released annually at the World Economic Forum, found that the pandemic has shifted what consumers value and that this is affecting their response to brands. Respondents said they are now much more attracted to brands they can trust, that make them feel safe and supported, and that clearly care about people first and foremost. Nearly half (44%) have started using a new brand “because of the innovative or compassionate way they have responded to the virus." This willingness to try a new brand suggests that students, as consumers of education, may consider a wider range of destinations, institutions, and even types of credential than they would have pre-pandemic, according to market researchers.

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