It is well recognised that with the rapid shift to hybrid working, employees are struggling more than ever to maintain their wellbeing, which is leading to a sudden epidemic of burnout. A recent survey of 20,000 people by Microsoft found that 48% of employees report that they are burned out at work (Sep 2022).
A meta-analysis by Gallup estimates that burned out employees cost an equivalent of 34% of their salary due to disengagement. When you combine these two statistics, it implies that across the UK, burnout is costing the average employer a staggering 16% of their total salary bill!.
Fig:1 The staggering gap in performance caused by low wellbeing.
Source: OwnLife, 2021/22; 4RM® as measured by over 30,000 data points
Evidence suggests that whilst organisations recognise the need to increase investment, without a compelling ROI the progress is slow. IOD and Deloitte found that only 16% of Directors expect to significantly increase investment in wellbeing (Nov 2022) and from a base of less than £18 per employee (IBIS world estimate the UK Corporate wellness industry for 2022 to be £582.8mn).
When current corporate investment in wellbeing (less than 0.05% of the average UK salary) is 300 times less than the cost of the issue it can directly address (burnout), something needs to change.
We would love to understand how we can help you raise awareness in your organisation and be a part of your strategy to increase the support of employee mental wellbeing at a time when it is so badly needed.