Over Half of US Workers Experiencing Burnout, Survey Shows

More than half of American workers are experiencing burnout, according to a new study.

The study, released by health insurance Aflac Incorporated, revealed that more than half (59%) of American workers are experiencing burnout. That’s a notable increase over 2021 (up from 52%) and on par with the levels reported in 2020 at the height of the Covid-19 pandemic.

The study uncovers the enduring effect of stress and uncertainty on Americans, making mental health care a big priority for employers. Stress is not only impacting American workers’ home lives, but also their working lives and, consequently, productivity. The survey also found that employees are asking for mental health care in higher numbers than ever before, and employers are searching for new ways to provide it. Key statistics show that:

• Mental health negatively affected job performances of nearly half (46%) of the US workforce in the past year – a significant increase over 2021 (34%).
• More than half (51%) of employers recognise that employee mental health issues have affected their businesses over the past year.
• Nearly 80% of employees state that mental health coverage is critical, yet only 61% have access to mental health care as part of their benefits package.

BURNOUT IMPACT

Burnout has a detrimental impact on US workforce, confirmed the report. Survey responses show that burnout is associated with job satisfaction and loyalty. Employees who suffer from high levels of burnout report lower job satisfaction (55%); lower confidence that their employers care about them (47%); negative perceptions of work-life balance (55%); and a higher likelihood of seeking another job in the next year (56%). According to the report:

• The most financially concerned populations who are seriously affected by burnout include Gen Z (71%); those working multiple jobs (66%); Hispanics (65%); those working multiple jobs (66%); millennials (65%) and women (62%).
• Yet 45% of employers are no more likely this year than last (43%) to view burnout as a problem for their organisation.
• Over half (56%) of employees believe that their organisations care about their wellbeing; at least a moderate amount. This sentiment is strongest among those with a hybrid working arrangement (70%).

“A major concern of employee burnout is the impact on their wellbeing and how it affects engagement and retention,” stated Matthew Owenby, Chief Human Resources Officer of Aflac Incorporated. “Employers are looking for new ways to offer benefits that help improve their employees’ mental health balance.”

FINANCIAL CONCERNS

Employees and employers have differing views on financial stability. According to the survey, many American workers are struggling financially, and even more are vulnerable to unexpected medical costs not covered by health insurance. While employers have always lagged in understanding the financial instability facing the workforce, this year, the gap is wider than ever. The survey found that:

• More than half (58%) of Americans say they could not pay $1,000 in out-of-pocket costs. This is most concerning for Gen Z (78%), African-Americans (72%) and Hispanics (65%).
• About 3 out of 5 (57%) workers report suffering high levels of anxiety about health care costs exceeding what their insurance covers. This is most prevalent among Hispanics (69%); including both Gen Z and millennials (65%).
• Three-quarters (76%) of employers think their employees understand their healthcare costs well, while just 52% of employees agree.
• About 57% of employees are confident they will be very well covered in the event of a serious illness, and only 1 in 5 believe they will be covered extremely well.
• Hispanic (46%) – including both Gen Z and millennial (44%) – workers are the most impacted by inflation; with nearly half indicating that rising costs have affected their ability to afford a medical treatment or prescription.

HEALTH CARE BENEFITS

“Soaring health care costs, lack of understanding of benefits on health insurance policies and the economic downturn have contributed to employees’ anxiety about their insurance coverage,” said Owenby. “Hispanics and younger workers have been hard-hit by inflation, with nearly half indicating that rising costs have driven them to choose between paying medical or other bills.”

Supplemental insurance can help provide an additional layer of financial protection, noted the study. For example:

• About half (48%) of American employees view supplemental benefits as a core component of a comprehensive benefits programme.
• Nine out of 10 employees believe the need for supplemental insurance like dental, life and vision is increasing.
• Nearly 77% of employers who offer supplemental insurance believe these benefits help with recruitment, and 80% say they help with retention.

The Covid-19 pandemic brought about sweeping changes to the workplace, the workforce, and benefits enrolment and management, while also spurring a period of innovation in the benefits space. However, even with advancements in key areas such as telemedicine and other online resources, employees made it clear in 2022 that they value the human side of their benefits packages just as much. Offering robust mental health resources, flexible work schedules, and one-on-one support rise to the top this year as ways for employers to attract and retain top talent in today’s competitive work environment.

To learn more, check out the 2022-2023 Aflac WorkForces Report here.

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