It’s undisputed that the world has experienced a barrage of crises over the last few years. From the pandemic, and its (ongoing) aftermath three years on, to rapidly rising energy prices, inflation, and a looming recession that has sparked anticipatory mass layoffs.
Unsurprisingly, this has taken its toll. 87% of Americans feel anxious about inflation, 7 in 10 employees worry that their compensation hasn’t kept up with the changes in purchasing power, and a shocking 98% of HR professionals say that they felt burned out at some point last year.
Which leads to the potential for a new crisis – an employee burnout crisis. If ignored, this potential new risk could have a serious knock-on impact on the continuity of the business.
Companies that don’t provide adequate (mental health and) well-being support to their employees risk (among other things):
- An increase in absenteeism and presenteeism
- An increase in workplace accidents and injuries
- A drop in engagement and productivity
- A decline in retention and talent attraction.
Within this context, it’s clear why organizations have begun to prioritize total well-being and building resilience, and HR departments, in particular, can take matters into their own hands and assume greater responsibility for the total well-being of their people.
There is still work to be done, however.
In a Workplace Wellness survey conducted by the Employee Benefit Research Institute and Greenwald Research, 31% of employees indicated that they felt their employer’s efforts to help manage their overall well-being had increased in the past year. However, almost 60% of respondents felt that their company’s efforts had remained the same.
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