Addressing & Preventing Employee Burnout
Depending on who you speak with and what discipline they represent, we hear conflicting stories about business in America. We hear that jobs are either scarce or are bountiful, that employee engagement is on the rise or decline, that millennials are either easy or are difficult to work with, that loyalty in the workplace (from corporate to employee and vice versa) is null and void or is on the rise, that business in general is good or is tanking.
All of these contrasts serve as a palpable springboard to take a deeper look at what employers are truly facing and will continue too, unless they help address the root cause of the issues of high absenteeism, insurance claim costs, low retention, morale, and productivity.
Employees have an overwhelming amount of stress either self induced or culturally nurtured and it results in 1 or more types of bankruptcy – emotional, physical, financial and/or spiritual. These “bankruptcies” are a major contributor to employee burnout, the biggest threat to building an engaged, happy, healthy and productive workforce.
The newest study in the Employee Engagement Series conducted by Kronos Incorporated and Future Workplace® found that 95 percent of human resource leaders admit employee burnout is sabotaging the workforce.
“Organizations “burn and churn” talent, making it tough to build an engaged workforce. According to the survey, nearly half of HR leaders (46 percent) say employee burnout is responsible for up to half (20 to 50 percent, specifically) of their annual workforce turnover.” While Almost 10 percent blame employee burnout for causing more than 50 percent of workforce turnover each year.
Though burnout touches organizations of all sizes, larger organizations seem to suffer more. One in five HR leaders at organizations with 100 to 500 employees cited burnout as the cause of 10 percent or less of their turnover while 15 percent of HR leaders at organizations larger than 2,500 employees say burnout causes 50 percent or more of annual turnover.”
Even when an employer has the good fortune of top performers, highly engaged, healthy and happy employees, they tend to be the minority and their numbers are dwindling. This leaves an imbalance in the culture, productivity, process and profit. As Marcus Lemonis states, “Business success is all about the 3 P’s. People, Process and Product.” Employees are the reason a business either fails or survives.
This growing epidemic – the decline in our overall health and well-BEing of human capital i.e. – employee burnout, isn’t going away anytime soon. This is an all encompassing situation that requires an all hands on deck approach from the top Executives, down.
Typically, employers rely upon the traditional voluntary benefits model where they provide options for financial wellness, identity theft prevention, discounts on travel, gyms, auto and home insurance, pet insurance and massages, etc. These services are a great benefit and do help save money and provide education, but they do not help the employees change behavior or habits. Employers also offer Employee Assistance Programs (EAPs) that will address behavior and habits, but there is controversy as to their efficacy. “Little evidence exists that demonstrates that EAPs are effective in serving the goal of employers to maintain productivity and healthy, well employees.” – Susan Heathfield, HR Expert. Furthermore, EAP services are short term and often lead to outside referrals for longer treatment and higher costs.
There is a paradigm shift taking place where employer and employee together, address the growing concerns of poor health, lack of engagement, low productivity and rising costs by getting to the root cause of the employee’s stress, health related concerns and burnout.
Enhancement Benefits provide a beautiful bonafide solution to help employees regain clarity and control over their lives. They provide a true opportunity for employees to recommit to their financial, emotional, mental and physical well-BEing. Enhancement programs help connect employees with their purpose and their employer’s overall mission.
“88% of executives and 85% of benefit managers agree that benefit programs have the most impact on improving employee loyalty as well as increasing employee engagement and lowering company medical costs.” – Wells Fargo 2017
The overall benefits for employers are obvious, especially when an employer strategically offers programs that are relevant, consistent and encourage pro-active participation. Investing in an Enhancement Benefits Specialist and concierge firm will decreases expenses in return, often in the form of better performing workers, and less absences and health care costs.
Employees are the most valuable assets to any company. Offering and encouraging employees to participate in these services, employers are not only improving well-being and job satisfaction, they are raising retention rates and becoming even more marketable to attract superior, loyal employees.
“70% say that benefits that can be customized to meet their needs would increase their loyalty to their employers” – MetLife 2017
An employee who becomes healthier and happier by using Enhancement Benefits has a direct impact on the success of the company, but also their lives overall. They will be more able to complete their job responsibilities, and will have more energy to give to their family and community.
When considering or shopping for Enhancement Benefits be sure that they encompass all aspects of a human being – mind(set), spirit and body. Research who the expert teachers and what their credentials are, what are their success rates and if they address peak performance, wellness, financial wellness, with the help of neuroscience, positive psychology and rapid transformational therapies because anyone can record what they eat, how many stairs they take or how much spend and save, but it takes commitment, science, and proper mentoring to make true and lasting change.