Published On: April 15, 2022
Each week, the Mployer Advisor team parses through dozens of reports, industry news, updates, and headlines. Not every statistic or data set warrants an exclusive blog post, but there are numbers that deserve to be reported on a smaller scale.
April is Stress Awareness Month, so this edition of “By the Numbers” is all about employee stressors in and out of the workplace. Read on for all the latest data, trends, and commentary.
This is the increase in adults reporting anxiety from 2019 to 2021, according to data by the Centers for Disease Control and Prevention. Additionally, depression rates tripled in this same period. Much of this can likely be attributed to the pandemic, however we have yet to see these rates drop. As such, mental health coverage via EAP (Employee Assistance Programs) or employer-sponsored healthcare coverage has become a vital benefit for a record number of Americans.
For more information on how to support your employees’ mental health in the workplace, check out our recent webinar.
The number of HR executives who say that their stress has increased in the past year, according to a recent survey published in Human Resource Executive. The survey also found that 53% of HR leaders feel burned out. Much of this is due to the increased workload since the start of the pandemic coupled with the lack of resources to address workload bottlenecks in a timely manner.
This is the amount of the workday employees spend worrying about finances, according to a survey conducted by financial services provider SoFi at Work and HR research advisory Workplace Intelligence. Among these worries are retirement savings and credit card debt, as well as being able to afford basic expenses like rent and groceries.
“Offering financial well-being benefits isn’t just the right thing to do—it’s also a critical way to boost employee engagement and productivity,” Dan Schawbel, Managing Partner at Workplace Intelligence, said in a release about the survey’s findings. “But people’s preferences are quickly evolving, and the companies who can adapt quickly are the ones that will come out on top in the war for talent.”
This is the amount that the average American’s household expenses have increased each month due to inflation, according to a report from Morning Consult. If you consider the fact that most Americans are unable to afford a $400 surprise expense, this finding is especially alarming; as such, financial benefits are quickly becoming a must-have for employees.
The difference between workplace stress felt by American and Canadian workers compared to the rest of the world, according to Gallup’s 2021 “State of the Global Workplace” report. America is also one of the only countries without a federally mandated paid time off (PTO) policy and is considered to have more of a “workaholic” mindset.
The percentage of people who are stressed about the cost of everyday items, according to data gathered by the American Psychological Association in partnership with the Harris Poll. The findings revealed that the largest source of financial stress was from the rise in the price of everyday items, such as gasoline, grocery bills, and energy costs.
Sarah Ann Johnson
Marketing Analyst, Mployer Advisor