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Organisations are spending more on workplace wellbeing, but they're not seeing it translate to higher employee engagement, nor do employees consider themselves well supported at work, according to new research.

The 2026 Intellect Workplace Wellbeing 360 Report, involving more than 27,000 employees, highlights that employees' mental wellbeing rose 10.2 percentage points in the past year – this was the "largest single-year improvement" in the report's history.

But according to Intellect CEO Theodoric Chew, the data provides "a more complex answer than we expected" to the question of whether employees are actually thriving, rather than "just coping" or "showing up".

"Beneath the improvements, a less noticeable shift is underway, one that does not show up in headcount numbers or output reports, and one that I believe represents the defining people challenge of this moment," he says...