Time to address the Great Stagnation

July 17 2024

As a team member in mid 2024, you might be feeling depleted, but stuck!

If you’re an employer, you might be noticing some disturbing signs of burnout in your teams, and feeling an urge to reassess how you support your staff. Or perhaps you’re feeling a need to help individuals connect their work to a broader purpose?

It’s not just you. It’s consistent with a growing attempt to re-energise rising numbers of employees who either feel stuck in their jobs, or are working too hard or too long.

There are at least two trends related to this development.

Disengaged employees staying put

Firstly, the trend for staff to stay on in their role even when disengaged.

More disgruntled employees are staying put because they have no better option in a world of declining vacancies. With reduced job opportunities, more people want to leave their job than can actually find a new one. The result is that some staff are disengaged, but want to stay put.

But while people are staying put, it doesn’t necessarily mean that they’re fully present.

Overworked and Underappreciated: The Burnout Epidemic

The other significant trend is for staff to see where the market is headed and work harder … but at the risk of burning out.

The number of Australians choosing to go above and beyond their minimum job requirements is at a four-year high. Workers are seeking to protect themselves from being made redundant in a cooling economy,

But the uplift in discretionary effort is unsustainable, because it’s not accompanied by an improvement in job satisfaction. Some data is showing that workers are less engaged than they were two or three years ago. If people are working harder in jobs they don’t love, employers are vulnerable to a drop in performance when workers burn themselves out.

The rising cost of workers compensation premiums triggered by surging mental health claims is giving employers a further reason to act.

Striking the Right Balance

For business leaders noting possible issues in these areas in their workplace, timely action is needed asap. The key to thriving in this new era of work is finding the sweet spot between overworking and underutilising your talent. It’s about creating a workplace culture where employees feel valued, supported, and challenged.

It’s not a matter or keeping staff on at all costs. It’s about providing a platform for engaged staff to commit to the organisation and bring their best.

By investing in employee well-being, providing opportunities for growth, and fostering a strong sense of purpose, companies can not only retain their top talent but also unlock their potential.

Some organisations are using coaches to support managers in boosting staff motivation. This can be effective, as managers play a big role in motivation. A Culture Amp global analysis of 250,000 managers found that employees are 1.4 times more likely to be motivated if they see their manager as a role model.

Aside from improving manager role-modelling and direct motivational skills, opportunities for organisations include:

  • surveying staff regularly to assess engagement and motivation levels, and what’s behind any low levels. The key drivers can vary between individuals and across teams.
  • taking clear action on the results!
  • helping staff see connections between their work and a bigger purpose.

Are you facing challenges with employee engagement or burnout?

Retention and engagement have become big HR concerns in 2024.

Our team can help you develop strategies to create a high-performing and resilient workforce. Contact us today to learn more.