In the wake of COVID-19, the world's board executives plan to make significant changes to how they work and live.
Bupa Global's Executive Wellbeing Index released today reveals the impact of COVID-19 on global executives and finds the vast majority (94%) are planning a major overhaul of their work-life balance.
Over half do not plan to return to the same fast pace of life; one in three intends to work from home permanently, and one in five will even work from their holiday home. While over a quarter (26%) will stop all business travel for 12 months.
The premium health insurer also highlights the toll of the pandemic on executive health; 82% reported symptoms of mental health problems, including disturbed sleep, low mood, anxiety or anger, with two in five delaying seeking help.
And with the future still uncertain, the global economy has weighed on the minds of executives with just 32% confident of a swift bounce back.
Consequently, executives plan to safeguard their health and wellbeing by maintaining a better diet, taking regular exercise and seeing more family and friends.
The pandemic has also been a catalyst for business change – with the majority (93%) of executives set to make changes within their organisations, such as greater investment in technology to enable flexible working.
Sheldon Kenton, Managing Director, Bupa Global and CEO, GeoBlue said: "We don't yet know the long term impact of the pandemic, but new ways of doing business are emerging and we're already seeing a long tail of other healthcare needs. As a premium health insurer our role is to provide a holistic approach to protecting our customers' health."
RELATED READING: iPMI Magazine Speaks With Sheldon Kenton President And CEO, GeoBlue
70% of executives are now planning to purchase private medical insurance in the next 12 months, with an emphasis on preventative care and mental health.
Dr Luke James, Medical Director, Bupa Global, said, "With the prolonged pandemic impacting mental health so heavily, it's really important business leaders address any issues both personally and in their organisations. It is good business to protect people, they are the most important resource in any successful business."
The study took opinions from almost 2,000 high-net-worth individuals and senior executives in Europe, North America, the Middle East and Asia in a first of its kind view of the impact of the pandemic on business, home life and health.
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