Achieving zero health gaps requires dramatic shifts

By Jefferson McMillan-Wilhoit

We don’t often consider Davos a central player in reducing health disparities worldwide. While Davos is undoubtedly known for tackling the most significant issues that face the world, this is the first time the group sought to address the long-standing health inequities that disproportionately impacted marginalized and low-income populations. In 2023, that changed as the World Economic Forum Annual Meeting drew nearly 3,000 global industry leaders to Davos, Switzerland.

This year’s convening of the World Economic Forum’s Global Health Equity Network in Switzerland’s highest town saw the first tangible action taken by 40 of the world’s largest companies to do their part in eliminating health disparities. The Zero Health Gaps Pledge, signed by the CEOs of each participating company, outlines ten commitments these organizations have made to embed health equity in their core strategies, operations, and investments. This commitment marks a profound shift in how organizations operate and engage with their communities. We know it can be hard to know where to start on this transformative journey, so we break it down into five areas: leadership transformation, business process transformation, digital transformation, cultural transformation, and experience transformation. While a successful transformation requires success in all five areas, leadership and experience transformation are the cornerstones to achieving zero health gaps between and within communities.

Leadership Transformation

Integrating health equity into your organization’s core strategies requires a dramatic shift in the strategic direction. These shifts are widely considered one of the most demanding management challenges. They are so challenging that one estimate by McKinsey suggests that nearly 70% of these transformations fall short of achieving their full potential. So, how can your company transform its management to ensure it reaches its commitments in the Zero Health Gaps pledge? We suggest four things to consider:

Experience Transformation

Employees, customers, and communities all have experiences with your organization. Employees experience it through the benefits you provide, how you manage them, and how you measure them. Customers experience your organization through your products and services and how you market and engage with them. As global organizations, your communities are large and experience you through your engagement in the public forum and how you give back. While each person’s experience with your organization is unique and different based on their role, they all work together to shape your success.

Your organization will thrive in the market with positive employee, customer, and community experiences. A focus on health and well-being is the key to that positive experience. Employees are more productive when they are healthy, customers are willing to pay more for your products and services when they know you are concerned with their well-being, and communities trust organizations that have their health at the forefront of their decision-making. Transforming these experiences is not easy, so we suggest you start by asking:

Putting your pledge into action

Your organization has taken the crucial first step by signing the Zero Health Gaps Pledge. Your employees, customers, and communities will now want to know what you are doing to make the pledge more than words. You know doubt are wondering how this transformation will go. While we can’t predict the future, we can provide the expertise and support your organization needs to reach zero health gaps. We know transformation can be challenging and scary. We are here to walk alongside you and make your transformation a sustainable success story.