We risk losing 50% of our workforce to hashtag#burnout in the next decade if current trends continue. The ‘State of Workplace Burnout 2023’ report shows a worrying increase – 38.1% of respondents across 40 countries are experiencing burnout, up from 34.7% in 2021. Those affected face over 50% less well-being and a sharp drop in productivity. Shockingly, many remain unaware of their burnout symptoms, with three-quarters of American employees noticing some signs.
Key impacts on productivity include:
𝐑𝐞𝐝𝐮𝐜𝐞𝐝 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲: Burnout can severely decrease work efficiency, with some employees becoming almost non-functional.
𝐂𝐨𝐠𝐧𝐢𝐭𝐢𝐯𝐞 𝐃𝐞𝐜𝐥𝐢𝐧𝐞: Affected employees exhibit 5% to 20% reduced cognitive performance, impacting problem-solving and task management.
𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐄𝐫𝐫𝐨𝐫𝐬: Error rates rise, particularly in precision-critical industries like hashtag#healthcare. Imagine, what it can cost to finance companies, such as asset managers!
𝐀𝐛𝐬𝐞𝐧𝐭𝐞𝐞𝐢𝐬𝐦 𝐚𝐧𝐝 𝐏𝐫𝐞𝐬𝐞𝐧𝐭𝐞𝐞𝐢𝐬𝐦: These contribute to a 15%-30% drop in individual productivity.
𝐇𝐢𝐠𝐡 𝐓𝐮𝐫𝐧𝐨𝐯𝐞𝐫: The financial cost of replacing employees due to burnout can be significant, affecting overall team productivity.
Burnout also significantly affects the quality of corporate and also personal communications, and therefore the workplace and home environment, overall wellbeing and subsequently our health, impacting others and creating a scary vicious circle. PREVENTION is the only adequate response to the problem, in my view. Elevated hashtag#consciousness of the employees and leadership and joint action are becoming a necessity.
hashtag#WorkplaceWellbeing hashtag#Burnout hashtag#BurnoutPrevention hashtag#MentalHealth hashtag#Strategy
