In many cases, the C-suite are underestimating employees' are struggles with their wellbeing: 89% said physical wellbeing was good or excellent, yet only 65% of employees felt that way. Similarly in categories such as mental wellbeing, social wellbeing and financial wellbeing, the C-suite said 84%, 84% and 81% respectively were excellent or good, whereas 59%, 51% and 40% of employees respectively said they were good or excellent. That indicates significant shortcomings in how well C-suite understands their employees' struggles.

Other gaps in perception are apparent in the way in which the C-suite is unaware of the state of employees' wellbeing. In contrast with what employees reported, more than 8 out of 10 global executives believe their people are thriving in all aspects of their wellbeing.

In addition, many employees don't feel that their executives have been supportive during the pandemic—but the C-suite sees things much differently. For example, just 47% of workers believe their executives understand how difficult the pandemic has been for them, yet 90% of the C-suite say they recognize how challenging it's been. Similarly, while just 53% of employees feel that their company's executives have been making the best decisions for their wellbeing during the pandemic, 88% of the C-suite believe their decision-making has been exemplary.

Where is this all leading? Sixty-three percent of employees and 73% of the C-suite report that their job doesn't allow them to take time off from work and disconnect. Results also show that for 68% of employees and 81% of the C-suite, improving their wellbeing is currently more important to them than advancing their career. The situation is bad enough that 57% of employees and nearly 70% of the C-suite said they are seriously considering leaving for a job that better supports their wellbeing.

"To make wellbeing a reality, leaders need to first look at redesigning the work in their organization," said Steve Hatfield, Deloitte's Global Future of Work leader. "By integrating wellbeing into the design of work itself, organizations can strengthen the link between employee wellbeing and organizational performance."

And while 95% of the C-suite agree that they should be responsible for employees' wellbeing, these sentiments aren't translating into action — 68% admit that they're not doing enough to safeguard employee and stakeholder health. And because just 31% of employees feel their leaders are health-savvy, it's evident that they also believe leaders should be taking greater initiative when it comes to matters of health.

Fortunately, younger leaders (Gen Z and Millennials) are taking note. Ninety percent of Gen Z and Millennials are increasing their focus on wellbeing benefits, 89% characterize themselves as health-savvy and 88% have take steps to help employees disconnect.

"While it's promising that so many executives feel they should be responsible for employee wellbeing, many also feel that they aren't taking enough action," said Jen Fisher, Deloitte's U.S. chief wellbeing officer. "It's time for the C-suite to become more health-savvy by embracing the expanding focus on wellbeing in their role. This critical shift will not only benefit their own wellbeing and the wellbeing of their people, but also the long-term success of their organizations."