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Submission: On July 22 via manual from US — Scanned from DE
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Submission: On July 22 via manual from US — Scanned from DE
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Skip to main content CONTINUE TO SITE ➞ DON’T MISS TOMORROW’S CFO INDUSTRY NEWS Let CFO’s free newsletter keep you informed, straight from your inbox. By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime. * Opinion * Library * Events * Press Releases * Topics Menu * Search * Sign up Search * Corporate Finance * Human Capital * People * Regulation & Compliance * Risk * Strategy * Tax * Technology An article from 45% OF WORKER STRESS IS DUE TO JOB INSTABILITY: WEEKLY STAT Most workers say employers are falling short in managing stress successfully despite spending on wellness benefits. Published July 19, 2023 Adam Zaki Reporter * * * * * damircudic via Getty Images Listen to the article 4 min This audio is auto-generated. Please let us know if you have feedback. The best builders and leaders, especially CFOs, find ways to use the tools they have at hand to succeed. For leaders within corporate finance, the two most important tools, arguably now of equal importance, are people and technology. How these two components of the business are managed are crucial to success, especially for those eager to take larger strides in attempts to achieve growth. Besides identifying what employees are thinking about in both the short and long term, finding the root cause of their stress-inducers may help create a more positive work environment. With nearly half (45%) of employee stress coming from a lack of job security, according to a new survey of 2,500 business professionals from recruitment firm Robert Walters, leaders who wish to showcase their desire to retain talented employees may be best off doing it now. CAUSES OF STRESS Employee stress can lead to things like quiet trends, loss of productivity, or work ethic. According to data, other than job instability, 23% of those surveyed cited pressure from management as their top stress trigger, followed by 13% saying an increased workload is the cause of stress. Many professionals think senior leadership has a responsibility to reduce worker stress. Nearly half (45%) of those surveyed said it was up to senior leadership and their HR departments to manage stress in the workforce. Just under a fifth (19%) said it was the responsibility of middle management or line managers to do so. Regardless of whose responsibility it is to manage company stress levels, a majority of the professionals surveyed believed their companies are failing at it. Sixty-two percent of those surveyed don’t think employers are doing enough to help combat stress. Less than a quarter (24%) said they feel some effort has been made, but it has been insufficient. Only 14% of those surveyed said their employers do enough to manage employee stress. THE COSTS OF STRESS According to Robert Walters, the money many companies allocate toward mental health benefits is not enough. According to Peter Milne, managing director of Robert Walters North America, these allocations are only a temporary fix for a larger issue. “U.S. employers spend an estimated $200 to $500 per employee on wellness initiatives and benefits every year, but our survey indicates they may only be applying a Band-Aid,” said Milne. “Employers must strike a balance between not breaking the bank or piling pressure onto managers to solve workplace stress but still being proactive and listening to the needs of their employees.” Keep up with the story. Subscribe to the CFO free daily newsletter Email: * Select user consent: By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime. Sign up A valid email address is required. Please select at least one newsletter. The most valuable mental health benefits and how they are offered and used are still unclear. As findings have previously shown, these types of benefits largely go unused. Regardless of who is responsible — management, healthcare providers, or the individual employees — money is being wasted. SHORT TERM SOLUTIONS Leaders who wish to maximize productivity in the second half set up a communication environment in which the causes of stress can be identified before they wreak havoc. With nearly one in five employees citing their output is of low quality because of their stress, according to data, Milne recommends an environment in which transparency in workflow and expectations is paramount. “Workplace stress is something everyone in a business has a hand in creating; however, it is down to senior leaders, HR, and line management, depending on organization size and reporting lines, to set the tone for how it is handled,” said Milne. “Simple interventions such as making sure workloads are manageable, setting realistic deadlines, and making sure employees have access to support, safe spaces, and relevant resources can all help to alleviate pressure in the workplace as well as professionals’ day-to-day work [lives],” he said. * post * share * tweet * print * email Filed Under: Human Capital SUBSCRIBE TO THE BALANCE Get the free daily newsletter with financial industry insights and practical advice for CFOs. Email: * Select user consent: By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime. Sign up A valid email address is required. Please select at least one newsletter. SUBSCRIBE TO THE BALANCE Get the free daily newsletter with financial industry insights and practical advice for CFOs. Email: * Select user consent: By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime. Sign up A valid email address is required. Please select at least one newsletter. LIBRARY RESOURCES * Playbook 3 Ways Companies Gain From Tech-Enabled Strategic Planning Custom content for CCH Tagetik * Survey Report How CFOs Focus on Achieving Efficiencies Custom content for Tipalti * Playbook Drive Results with Business Planning & Analysis Custom content for Protiviti View all SUBSCRIBE TO THE BALANCE Get the free daily newsletter with financial industry insights and practical advice for CFOs. Email: * Select user consent: By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime. Sign up A valid email address is required. Please select at least one newsletter. COMPANY ANNOUNCEMENTS View all | Post a press release Want to share a company announcement with your peers? 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