"Burnout," a topic that frequently grabs the attention of HR managers, top executives, and healthcare practitioners, may warrant a larger discussion according to research from a survey conducted by Deloitte on workplace well-being.
In today’s fast-paced corporate landscape, businesses have grown to astounding heights, pushing their employees to the brink to reach the top. However, in this pursuit for excellence, there comes a cost: employee burnout. Deloitte’s recent survey revealed that a staggering 89% of employees have experienced burnout in the past year. What’s even more concerning, 70% of them admitted they would consider leaving their job because of it. These new findings are troubling to executives who rely on a resilient workforce, but beg the question how can we support workforce’s well-being to creating engaged, happy and resilient teams?
Addressing burnout begins with acknowledging the scope. Nearly 9 out of 10 employees have felt the weight of burnout in the past year (this blew me away!). But here’s the curve ball: More than 75% of executives mistakenly believe that their workforce's well-being has either improved or stayed the same. This paradox reveals not only a lack of awareness among leaders, but a reluctance among employees to speak up.
According to PeopleKeep, the cost of employee turnover per salaried employee that quits can range from $48,000 to $168,000, making it not only a human resources concern—but a financial one as well.
But the cost of burnout doesn't stop at turnover expenses. Employees experiencing burnout often experience negative emotions and fatigue, depleting their productivity or commitment to their work. Over half (52%) report extreme tiredness, followed closely by stress (49%), and feelings of being overwhelmed (43%). These negative emotions not only impact the individual’s health but also have a direct impact on workplace productivity. Studies have shown that for every ONE burnt out, disengaged employee, $28,000 is lost in productivity.
Even with these eye-opening stats, there’s still presents a gap in perception between executives and employees, with 75% of executives incorrectly believing their workforce’s well-being has improved.
Nonetheless, a silver lining is emerging on the horizon. An encouraging 85% of executives are proactively planning to take on more significant roles in championing the well-being of their workforce over the next one to two years. This shows a positive commitment to improving the overall health and satisfaction of employees within the organization.
So, you might be wondering, how do you transform a workforce from disengaged to thriving and resilient? Well, many forward-thinking companies have found the answer in holistic corporate wellness programs (the key being holistic). These programs aren’t your run-of-the-mill perks or standard health benefits. They offer genuine support for employees’ looking to take charge of their mental well-being and to motivate others around them.
The results speak for themselves: a remarkable 89% of employees working for companies with corporate wellness programs report that they’re not just engaged and genuinely happy with their jobs. This is a clear sign that wellness initiatives are rewriting the rules of the employee handbook, creating an environment where well-being takes centre stage.
When looking into the research, one statistic really caught my eye: employees who actively participate in wellness programs are twice as likely to be fully engaged at work. This is a striking revelation that shows that corporate wellness programs do more than improve employee well-being and reduce the risk of turnover; they also transform employees into individuals who are twice as focused and committed during their work hours.
One shining example of the impact of corporate wellness programs is our work done with the Unilever team. In a survey sent out to the participants, they reported a 95% reduction in stress and burnout, coupled with an 81% increase in employee engagement levels. This resulted in an estimated savings of $48,000 in unexpected mental health costs per employee. Read more about our other success stories to learn how our corporate wellness programs have helped.