57% of Employees Face Medium To High Levels of Burnout: Study
Check out the key findings from Owler’s recent study about the current state of employees’ work lives.
Employees prefer to stay in an organization or leave for several reasons. In today’s uncertain economic and employment conditions, it is highly crucial for employers to understand what their employees go through on a given day to keep them happy and retain them. To understand the current state of employees’ work lives, Owler conducted a study. Check out a few insights here.
Employees stay in a company or leave for many reasons. For example, according to a Paychex and Executive Networks survey, job stability and meaningful work were two top reasons employees preferred to stay with a company. At the same time, better pay and work culture are a few reasons people look for a change. Given that the world is facing a shortage of talent while also going through economic uncertainties, employers need to understand what employees are going through on a given workday and the factors affecting their sentiments and experiences.
Owler recently conducted a study to understand the current state of employees’ work lives. Here are a few insights from the study.
See more: Focus on 3 I’s To Shape the Future of Employee Experience
Employees Are Facing Burnout
More than 2.5 years ago, most companies were forced to embrace remote work. While this came with certain benefits to both employers and employees, it also came with its fair share of challenges. One of them was employee burnout, as the lines between work and personal time started blurring.
Fast forward to today, employees are still facing burnout, according to the study. While 72% of respondents expressed the willingness to stay in the current company over the next year, which is good news for companies, 57% felt medium to high burnout levels. Further, only 6% would consider seeking therapy, and 48% would consider taking time off to combat burnout. These numbers should be a concern for employers.
To address the problem, employers must understand the causes and signs of burnout instead of allowing it to build into job dissatisfaction over time. For example, according to Visier’s study, 44% of people intend to quit after a vacation. And this trend is primarily among people who work during their paid time off (PTO). Organizations must understand the signs of stress and burnout and have a discussion with their employees to address the problem before it is too late.
Work-life Balance Is a Crucial Topic Among Employees
Work-life balance is at the heart of several employee conversations as people try to strike a healthy balance between their work and personal time. About 87% of respondents said they met their colleagues in person, and 34% worked remotely. About 59% of respondents felt they could do their work in a 4-day workweek.
Many companies worldwide are experimenting with a 4-day workweek. Companies may want to consider the impact of changes like a shorter workweek or a remote-friendly environment on employees who find it difficult to strike a healthy work-life balance.
Employees Are Aware of How the Current Economy Is Affecting Their Workplace
The economy has been facing upheaval for the past few months, affecting companies and employees. And employees seem to be aware of how the economic uncertainty is affecting their workplace as they have seen the changes implemented by their employers. About 46% of respondents said that their organization had taken cost-cutting measures owing to the economic downturn. About 34% said their organizations implemented hiring freezes and lowered budgets to prepare for economic uncertainty.
In situations such as the current economic downturn, the necessity for employers to be in touch with their workforce, be transparent, and ensure employees understand where the organization stands concerning the evolving economic landscape cannot be underestimated. A team member’s satisfaction and confidence can influence another member’s decision to stay or quit the company.
Companies should be in a position where they can predict the things on the horizon in terms of their business while being able to lead and instill confidence that they are invested in the workforce’s wellbeing. Simultaneously, companies should also have a pulse on the status of other organizations in the industry. Staying aware of their own company, prospective customers, and competitors are a few features that give businesses a competitive advantage.
Steps Companies Can Take To Improve Employee Experience
As the labor market and workplace go through uncertain times, companies can take several steps to improve employee experience and retention. Here are a few of them.
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Focus on employees
While it is necessary for organizations to focus on their bottom line, it is more critical to focus on employees. Healthy and happy employees lead to improved revenues and profits. Hence, take the necessary steps to ensure your employees are healthy and avoid stress, depression, and burnout.
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Get employee feedback
Caring for employees is not a one-way street. It involves getting employee feedback and acting upon it as much as possible. Many tools are available today to capture employee feedback, including pulse surveys, open surveys, and performance management tools. Using them periodically helps understand what employees feel and go through so that the necessary changes can be made.
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Have Transparent Communication
Open and transparent communication is crucial for a healthy relationship with employees. Employees are currently having huge concerns, primarily related to the uncertainties in the economic and employment landscape, and are looking for some stability and support from their organizations. Hence, employers must address these and any other concerns and provide reassurance through open communication. This can be either done through face-to-face meetings or communication tools.
See more: 4 Ways to Enhance Employee Wellbeing Through Recognition
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Create a positive environment
A positive work environment goes a long way in retaining valuable talent. Employers can create a positive environment by taking certain steps like offering work flexibility, providing growth opportunities, developing a culture of recognition, promoting inclusion, providing the right technology tools, and providing mental support.
Ultimately, it is the employees who primarily contribute to an organization’s revenues, profits, and success. In these times of uncertainty, it is in the best interest of organizations to be aware of the employees’ state of wellbeing and provide them with the right support to improve their experience and retain them.
What steps have you taken to improve employee experience in your organization? Share with us on Facebook, Twitter, and LinkedIn.
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