Yes, but the typical CEO/COO does not have to worry about their family becoming homeless if they lose their job. Let us not be disingenuous about the stakes here.
Employees targeted by workplace wellbeing efforts are employees that need to be retained, almost always because of limited availability (see software). Let's no kid ourselves into thinking that in 2021 a software engineer will go homeless if they lose their job.
Software engineers can go bankrupt on healthcare costs alone. Either for them, or their family. Losing a job on top of high healthcare costs can force bankruptcy.
To deflect responsibility and employee resentment to other people. They don't care whether their almost-slaves are happy at the workplace but they want to maintain the status quo because even for them, losing devs and retraining new ones is costly.