Staff burnout main cause behind ‘talent turnover tsunami’

Workplace burnout is at its highest levels and the main reason behind the current ‘talent turnover tsunami’, reveals a new study.

In fact, more than one in four US employees plan to leave their employer post-pandemic, and employees reporting burnout are three times more likely to leave. The research, carried out by New Eagle Hill, reveals that burnout is problematic for more than half of the US workforce (53%), with more millennials (60%) suffering from it than any other working generation. The findings indicate that employees who report burnout are three times more likely to leave their organisation after the pandemic compared to colleagues who are not (39% versus 13%.) 

“The talent turnover tsunami is here,” stated Melissa Jezior, President and CEO of Eagle Hill Consulting. “With vaccinations rates climbing and workplaces re-opening, employees increasingly feel confident looking elsewhere for a job. And that is highly problematic for employers given the acute labour shortage. Another complicating factor is that more than half of the workforce feels burnt out, much of which can be attributed to their workload. These often are the employees who are most motivated to make a move.”

 In terms of the causes of burnout, 52% of respondents say that workload is the top cause; 44% attribute it to juggling their personal and professional life; 41% indicate a lack of communication and feedback is a cause; while 37% attribute it to time pressures.

DEPARTURE TIMING

The survey revealed that approximately 27% of US employees plan to leave their employer as the Covid-19 pandemic subsides. More than a quarter (29%) of workers expect to leave their job in the next year. The numbers are even higher for millennial workers; with around 33% of millennials planning to leave post-pandemic, while 36% expect to leave within the next year.

These results indicate that employee intentions to seek new employment are not subsiding. In November 2020, 25% of US employees said they plan to leave their employer once the Covid-19 pandemic subsides. The findings are based upon the Eagle Hill Consulting COVID-19 Workforce Burnout Survey conducted by Ipsos earlier this year in May.

“Now is the time for companies to carefully examine their talent retention strategies or they will find it increasingly difficult to bounce forward in a post-pandemic economy,” urged Jezior.

RETENTION STRATEGIES

Strategies for retaining workers in a post-pandemic environment include:  

• Think creatively, act strategically. By reallocating talent thoughtfully, companies can fill talent gaps and help reduce workload burden, thereby motivating employees and addressing burnout. Companies also can weigh the options and trade-offs of on-demand models and gig workers, partnerships, and global resources. 
• Keep top performers engaged. To help A players feel valued, companies should focus on career growth. This can include targeting A players for stretch exposure, offering exclusive training, and providing more transparency about career progression and compensation. Also, stay interviews provide insights for creating a differentiated employee experience for high performers.
• Listen to employee needs, then listen again. Conducting employee surveys, encouraging “open door” exchanges, and providing career counselling and mentorship opportunities are all effective approaches. Employee views change so fast, it is key to pulse employees regularly because yesterday’s needs won’t necessarily be today’s.
• Take action swiftly and proactively. Employees’ desire to continue working from home more frequently than before the pandemic could make or break decisions to stay with a company. Listening to employee voices on issues like hybrid work and others is essential, but proactively controlling potential turnover happens when employers act on what they hear.