This study explores the impact on employee well-being in higher education institutions (HEIs) following organisational change as a result of business model innovation. A phenomenographic approach was used involving auto-driven photo-elicitation interviews (PEIs) with 28 instructors in the UK and France, triangulated by focus group discussions with students. The study focused on how digitally-driven organisational change has an impact on the lived experience of occupational health risks and their manifestations (technostress, burnout, etc.) among staff. Findings reveal that digitally-driven organisational change produces a triad of latent stressors, namely technostress, unsustainable workloads, and eroded psychological safety. Critically, ‘health-washing’ emerged as a pervasive risk factor, wherein performative well-being initiatives increase cynicism and disengagement, rather than buffer burnout. Framed by the Job Demands-Resources model, we show how these tensions have direct ramifications for mental health and work-life balance. From this, we advise HEIs to take inspiration from Nordic models of participatory governance and workload transparency to mitigate psychosocial risks. Prioritising employee agency and sustainable business model innovation would foster sustainable work environments.