There will always be issues that businesses face and many of them can be recurring, challenging, and troublesome. However, there is one problem facing all businesses that have survived the wrath of time and that continues to threaten the sustainability of many companies both large and small, public and private.
That ONE problem which has affected 95% of all businesses is: EMPLOYEE BURNOUT.
A study was conducted by Kronos Incorporated and the Future Workplace in Employee Engagement Series to gauge the state of employee burnout in 2017 and these were their observations:
- Larger organizations appear to suffer more employee burnout issues.
Organizations with 100-500 employees indicated burnout was the cause of about 10% of their turnover. HR leaders at companies with more than 2,500 employees attributed burnout to more than half of the annual turnover.
- The top contributor to employee burnout was unfair compensation.
Too much overtime, expected work after hours, and unreasonable workloads, each gathering 32% of the vote and came in tied as the second highest contributor to burnout.
- At organizations with more than 2,500 employees, 27% of respondents indicated insufficient employee technology was a primary cause of burnout.
- 1 in 5 HR leaders indicated that although improving retention is a priority, it will not be addressed in 2017 thanks to competing interests. 16% of respondents pointed to a lack of budget to fix the issue.
- Many HR leaders reported they are focusing more on recruiting than retention.
97% of respondents, in fact, plan to spend more on recruiting technology by 2020.
This study was conducted among over 600 HR leaders and managers from both large and small companies. There are many approaches to solving this problem. Here are a few ways to combat it:
Megha Shah for TechFunnel.com