David Van Adelsberg: Why Wall Street Is Betting on Employee Well-Being
Fri Feb 06 2026
For decades, Wall Street has rewarded short-term thinking: layoffs, cost-cutting, and squeezing employees. Let’s be honest, investors have never been concerned about workers or their well-being.
But that era is ending.
David Van Adelsberg, CEO and co-founder of Irrational Capital (alongside renowned behavioral economist Dan Ariely), has helped produce some of the most rigorous research on the connection between employee well-being and long-term business performance. The work draws on data from thousands of publicly traded companies over more than a decade—and the results are hard to ignore.
Irrational Capital’s research shows that companies ranking in the top 20% for employee well-being significantly outperform those in the bottom 20%—by nearly six percentage points over 11 years. Even more striking, their study proves intrinsic factors like trust, clarity, innovation, and connection are consistently more important drivers of company performance than extrinsic rewards such as pay and benefits.
In other words, caring and supportive leaders matter more than what they pay.
For years, CEOs and boards have nodded toward employee well-being without taking decisive action. Now, with investors and market analysts clearly rewarding companies that get it right, ignoring how people feel at work is no longer optional.
In our conversation, David explains how his research was conducted, what surprised him most, and the practical implications for leadership teams still on the sidelines (not a bright future).
For leaders wanting proof that supporting the human needs in employees is worthwhile, we’ve never had greater information to share.
The post David Van Adelsberg: Why Wall Street Is Betting on Employee Well-Being appeared first on Mark C. Crowley.
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For decades, Wall Street has rewarded short-term thinking: layoffs, cost-cutting, and squeezing employees. Let’s be honest, investors have never been concerned about workers or their well-being. But that era is ending. David Van Adelsberg, CEO and co-founder of Irrational Capital (alongside renowned behavioral economist Dan Ariely), has helped produce some of the most rigorous research on the connection between employee well-being and long-term business performance. The work draws on data from thousands of publicly traded companies over more than a decade—and the results are hard to ignore. Irrational Capital’s research shows that companies ranking in the top 20% for employee well-being significantly outperform those in the bottom 20%—by nearly six percentage points over 11 years. Even more striking, their study proves intrinsic factors like trust, clarity, innovation, and connection are consistently more important drivers of company performance than extrinsic rewards such as pay and benefits. In other words, caring and supportive leaders matter more than what they pay. For years, CEOs and boards have nodded toward employee well-being without taking decisive action. Now, with investors and market analysts clearly rewarding companies that get it right, ignoring how people feel at work is no longer optional. In our conversation, David explains how his research was conducted, what surprised him most, and the practical implications for leadership teams still on the sidelines (not a bright future). For leaders wanting proof that supporting the human needs in employees is worthwhile, we’ve never had greater information to share. The post David Van Adelsberg: Why Wall Street Is Betting on Employee Well-Being appeared first on Mark C. Crowley.