Companies are increasingly recognizing that employee burnout is a significant problem. Not only does it significantly harm productivity, but it also impacts retention.
Ceridian, a provider of human resources software and services, decided to investigate the issues that employees are facing. So it teamed up with Hanover Research to 1,404 US workers from companies with at least 100 employees.
The findings may set off alarm bells for businesses, but fortunately, it is not doom and gloom and there is advice on what to focus on in the battle to retain employees and improve their wellbeing.
What was found?
Ceridian and Hanover Research discovered that 87% of respondents have already experienced burnout, with 44% reporting high or extreme levels.
In terms of what is causing this widespread problem, the top three catalysts for burnout were increased workloads, insufficient compensation, and mental health challenges.
These issues will hurt companies; and just under one quarter (24%) of those surveyed are currently seeking a new job, with another 36% saying they’d consider leaving for the right opportunity.
When it came to why people were looking for new roles, nearly half (46%) of those who reported looking for new employment said it was because they wanted better compensation, including higher salary and benefits, while another 33% are seeking more flexibility, such as remote work and flexible hours.
Moving forward with tools
During the pandemic, it has not been unusual to see companies change their benefits and increase wages in an attempt to keep employees.
Of course, flexibility depends on the role, but some will see this as a caution sign on the road to a full return to the office.
Speaking about the findings, Steve Knox, VP of global talent acquisition at Ceridian, commented: “The relationship between employer and employee has fundamentally changed over the course of the pandemic, creating a reset in expectations as employee needs rapidly evolve.
“It comes down to the employee experience – from the way people get paid, to where, when, and how they work. The organizations that solve for these factors first will be the employers of choice moving forward.”
Knox added: “In the current climate, retaining top talent is imperative. Employers need to focus on empowering their people by embedding value at every touchpoint.
“This means leveraging technology to deliver programs that support wellness, skill development, and the benefits that employees want and need most.”
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