New Report Outlines Concrete Steps to Improve Executive Wellbeing, Performance and Retention After 82% of Leaders Surveyed Indicated Burnout
TORONTO, August 02, 2022–(BUSINESS WIRE)–LifeWorks, a leading provider of digital and in-person total wellness solutions, and Deloitte Canada today released a report outlining a guide to supporting wellness and resilience senior executives. This guide incorporates input from organizations in Canada, including some with global operations.
This handbook follows research published by LifeWorks and Deloitte Canada in July 2021, which highlighted the need for organizations to proactively support senior leaders. The survey found that 82% typically experience the mental and/or physical exhaustion indicative of burnout and 51% were considering leaving, retiring or demoting from their current organization or position.
The four main areas of action outlined in the new report are:
Reducing Mental Health Stigma: In the survey, 55 percent expressed concerns about their career prospects if their employer realized they had a mental health issue. Reducing stigma, taking concrete steps towards a psychologically safe environment, and encouraging leaders to present themselves authentically all contribute to creating an inclusive and healthier work culture.
Strengthen relationships with peers: Fifty-nine percent say coworkers are helpful in supporting resilience, but 65% of peer relationships have deteriorated throughout the pandemic. Additionally, 59% of those whose relationships with peers improved reported improved productivity. Strained peer relationships increase tension by fueling a competitive environment focused solely on personal achievement, which can come at the expense of others and organizational performance.
Improving support for mental health and well-being: Ninety-six percent said their mental health had deteriorated since the start of the pandemic. Inadequate access to or improper use of wellness aids increases the risk of burnout and work resentment, and reduces effectiveness.
Rethinking work: Sixty-eight percent said the main source of work-related stress was the sheer volume of work. Organizations need to rethink their approach to work, tackling growing workloads and work complexity, and implementing better prioritization.
Comments from Global Leader and Senior Vice President, Research and Total Wellness, LifeWorks, Paula Allen
“Senior managers carry an immense weight on their shoulders when it comes to changes and stressors in the workplace. Not only do they experience these challenges themselves, but they must also provide support to their direct reports. Well While it has been encouraging to see a greater emphasis on employee well-being since the outbreak of the pandemic, senior leaders are often left out of the conversation Organizations will see their business results suffer if this continues.
Comments from Zabeen Hirji, Executive Advisor, Future of Work and CHRO20 Leader, Deloitte Canada
“Supporting the mental health and well-being of senior leaders is recognized as paramount to organizational performance and resilience. So it’s no surprise to see CEOs and leadership teams personally leading these efforts and even some executive boards. administration play a role Organizations need to build a culture where leaders are encouraged and supported to fit their own oxygen masks first, because leaders cannot sustain the workforce without the right foundation for their own welfare.
The full report from LifeWorks and Deloitte Canada can be found here. The report includes additional recommendations on short-term and long-term initiatives, targeting the four elements of the framework.
LifeWorks is a global leader in providing digital and in-person solutions that support the total well-being of people – mental, physical, financial and social. As the trusted leader in mental health and wellbeing, LifeWorks provides a personalized continuum of care that helps our customers improve the lives of their employees and, in the process, improve their business. Guided by our purpose of improving lives and improving business, we help our clients improve the well-being of their employees, we help them improve workforce engagement and productivity, improving and the performance of our clients’ organizations. LifeWorks is a publicly traded company on the Toronto Stock Exchange (TSX: LWRK). The company has approximately 7,000 employees, 25,000 customers, and serves 36 million people and their families in more than 160 countries.
Deloitte provides audit and assurance, advisory, financial advisory, risk advisory, tax and related services to public and private clients spanning multiple sectors. Deloitte serves four of the five Fortune Global 500® companies through a connected global network of member firms in more than 150 countries and territories, bringing world-class capabilities, knowledge and services to solve the most complex business challenges client. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Our global purpose has an impact that matters. At Deloitte Canada, this means building a better future by accelerating and expanding access to knowledge. We believe we can achieve this goal by living our shared values to lead the way, serve with integrity, care for each other, foster inclusion, and collaborate for measurable impact. To learn more about Deloitte’s more than 330,000 professionals, more than 11,000 of whom are part of the Canadian firm, please connect with us on LinkedIn, TwitterInstagram or Facebook.
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