The report shows that while burnout continues placing pressure on employees, thoughts of finding a new place of employment have simmered
Owler, a Meltwater company and business information and insights platform driven by a community of 5 million strong, today released a new report gaging the current state of the workforce. The report found 72% of employees are prepared to settle in with their current companies for at least a year despite 57% of respondents rating their burnout level at medium or higher. The report signals that an uncertain economy is casting doubts on the workforce’s decision to find relief in a career elsewhere despite record stress levels.
Owler’s Know-It-Owl Report sent a series of micro surveys to its community of 5 million users to get a pulse on the current state of today’s business professionals. Participation included more than 2,300 Owler community members answering questions related to the impact of a changing economy on the workplace, with respondents ranging from sales and marketing professionals, executive leadership and more.
“While the workplace has always been dynamic, the last two and half years saw seismic changes that have experts spinning their wheels to understand where the future of work is headed,” said Tim Harsch, CEO and co-founder of Owler. “The Know-It-Owl Report pulls from a diverse pool of working professionals revealing a critical glimpse into its current state. The findings make it clear that though labor churn has cooled, companies will need to focus more of their attention on relieving burnout to manage the productivity necessary to compete in today’s uncertain economy.”
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Key findings from Owler’s Know-It-Owl Report include:
- Mental health is a low priority in managing burnout – When asked what avoiding burnout would look like, only 6% of respondents are considering therapy. Most (57%) considered taking time off as their best option and 25% said getting more sleep is how they avoid burnout.
- Flexibility in where employees work is the most sought out benefit – Nearly half of respondents would prefer the ability to work from anywhere as their top benefit. Only 17% chose unlimited paid time off and 24% chose a four-day work week. As to the current workplace environment, 42% of professionals are already working in a hybrid environment, 34% entirely remote and 18% are in the office.
- Economic concerns meet the workplace – Companies are making some adjustments to their business operations in response to economic uncertainty with 47% of respondents admitting their company has taken cost cutting measures. Additionally, nearly two-thirds of respondents knew their company has instituted a hiring freeze, layoffs or both.
- Four-day work week considered possible – Nearly 59% of respondents thought it was possible to do their job in the span of four days, whereas 34% did not.
“The workforce doesn’t just walk away from the events of the past few years and go back to business as usual,” said Harsch. “In order to succeed in this economy, companies have an urgent employee burnout issue to address. While employees may not be leaving at the rate they did during the great resignation, burnout hurts the employee, company morale and overall productivity. Organizations need to carefully consider tools that reduce workloads and streamline company processes, and the right mix of employee benefits that best fits that company’s culture.”
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