Sage study says increase of employee burnout will hurt 2021 revenues

Forty-two per cent of Canadian business leaders believe dampened employee morale and potential increase of burnout amid the pandemic will negatively impact their revenues for the remainder of 2021, according to a new study 2021 Forward Together from Sage Canada

The cloud business management solutions provider partnered with national research firm Angus Reid Group to survey 775 business leaders and 1,569 workers across Canada for this study to uncover the impact of burnout on Canadian businesses and examine their outlook towards the remaining 2021and into 2022.

Post-pandemic recovery plans must focus on employee wellbeing

The findings of the survey suggest deteriorating revenues among Canadian businesses for the rest of the year can be a result of the inability of most employees to fulfill their job responsibilities while working from home. One in three (32 per cent) Canadian workers who were surveyed said they believe burnout in their household (themselves or their family) will affect their ability to do their job effectively this year.

Related:

IBM Canada president says achieving healthy work-life balance in hybrid work environment ‘remains to be seen’

Nearly half of Canadian workers experience daily burnout, according to Microsoft Work Trend Index [IT World Canada]

The findings also reflect that most Canadian businesses are taking actions to ensure employee health and safety with their post-pandemic recovery plans revolving around employee wellbeing. Nearly half of the businesses that took part in the study said they are placing much emphasis on their employees, primarily their mental health and safety when planning for post-pandemic recovery.

While there are some external factors outside of our control, business leaders should be focused on planning and prioritizing employee wellbeing, investing in training and skills development, hiring new staff and adopting the latest technologies to enable employees to work smarter, not harder, Nancy Tichbon, managing director, Sage Canada, noted in a press release.

The hybrid work model is here to stay

Business leaders demonstrated confidence that the hybrid work arrangement is working and is necessary moving forward for increasing productivity (42 per cent), attracting and retaining talent (41 per cent), mitigating burnout (34 per cent). 

For the majority of business leaders (76 per cent), therefore, post-pandemic recovery priorities include a viable and sustainable hybrid work model, required technologies for efficiency and growth, and relevant employee skills. 

Accordingly, technological skills are highly valued by business leaders and workers surveyed. Unsurprisingly, technology has been a critical enabler for businesses across Canada throughout the pandemic. One-third of businesses surveyed cited collaboration tools as their “saving grace,” allowing them to adapt and transform how they function. Investment in technological infrastructure is also planned by business leaders. 

Almost half (47 per cent) of business leaders also said they are planning to increase their technology budget for the remainder of the year. 

 

 

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Jim Love, Chief Content Officer, IT World Canada

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Pragya Sehgal
Pragya Sehgal
Born and raised in the capital city of India - Delhi - bounded by the river Yamuna on the west, Pragya has climbed the Himalayas, and survived medical professional stream in high school without becoming a patient or a doctor. Pragya now makes her home in Canada with her husband - a digital/online marketing fanatic who also loves to prepare beautiful, healthy and delicious meals for her. When she isn’t working or writing around tech, she’s probably watching art films on Netflix, or wondering whether she should cut her hair short or not. Can be contacted at psehgal@itwc.ca or 647.695.3494.

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