Dive Brief:
- Of the 1,900 professionals interviewed for a new Korn Ferry survey, 65% said they're more stressed out at work than they were five years ago. The respondents cited their biggest stress trigger as their boss (35%), and 80% said an organizational change, such as a new boss or department head, has raised their stress level.
- More than three-quarters of respondents said stress at work has negatively affected their personal relationships. Two-thirds said they've lost sleep because of work stressors and 16% said job-related stress forced them to quit. The survey also discovered that 79% of respondents found a heavy workload to be less stressful than not having enough work to do, and 74% said they would prefer a heavier workload and more pay to less work and less pay.
- Dennis Baltzley, Korn Ferry senior partner and global head of Leadership Development Solutions, said he recommends employers ensure workers have sufficient balance between their work and home lives by creating a work environment that offers employees goals that are clear and attainable.
Dive Insight:
Employees are experiencing more stress than ever. In a study of 1,600 American and U.K. workers, an overwhelming 94% reported suffering from stress. The growing stress among workers is a problem employers must address if they want to maintain healthful, productive workers and keep them onboard. The employee-driven market, with record-low unemployment, makes the competition for talent more challenging and more important than ever.
The Korn Ferry study isn't the first to call out bosses as major causes of stress. A Monster survey released last month found that three in four workers report to having a toxic boss, whom some described as power-hungry, incompetent and micromanaging. Bad bosses can drive highly competent, dedicated employees out and into a competitor's workforce. To prevent massive talent losses in a tight labor market, employers must focus on training managers to better fulfill their leadership roles and to identify stressed-out or depressed workers. Managers have agreed that they sometimes lack the training needed to be successful leaders and often feel overwhelmed themselves.
Employers may want to address another major cause of workers' stress: financial problems. Employees cite money worries as one of their biggest distractions at work. By making available financial wellness courses — or by beefing up low paychecks or by offering prime financial benefits like matching 401(k) programs — to employees, employers can reduce financial stress among their workforces.
