Employee burnout is one of the most important barriers on employee engagement and retention.
In fact, a national study on employee burnout conducted by Kronos® and Future Workplace (an HR advisory and research firm) showed that 95% of human resource leaders agree that employee burnout affects employee retention. Employee burnout is also the cause of more than 50% of workforce turnover each year, with larger businesses and organizations suffering the most.
While there are many things that you could start doing today to help with employee retention and employee engagement, addressing how burnt out your employees are will help the long term productivity and engagement in your workforce. To find out if your business is suffering from employee burnout, download this Employee Burnout Crisis Survey Brief from InflectionHR.
Too much work and too little pay are problematic but...
While not all employee burnout can be eliminated, much of it can be avoided using strategies such as:
Despite 87% of HR leaders calling improved retention a critical or high priority over the next five years, 20% said there are too many competing priorities to focus on fixing the issue.
The C-Suite must step up their commitment too according to HR leaders in the study. Lack of executive support and a lack of organizational vision are additional obstacles to improving retention.
Despite well documented costs of employee burnout and turnover, organizations are more apt to invest in recruiting new employees as opposed to retaining existing talent.
97% of HR leaders have worked to increase their investment in recruiting technology from where it was in 2017, including 22% who anticipate a 30% to 50% increase in such spending. However, budget was continually cited by HR leaders as a deterrent to programs that would benefit retention of existing talent. This includes:
Today's HRMS solutions make it easy, and getting these tools into place place can be done with little effort assuming the HR team has a trusted HCM solution and partner in their bench that is committed to their success.