Employment Hero, a leading people, payroll and benefits software provider, has released their new 2024 Wellness at Work Report. The research highlights that despite ongoing efforts by employers to provide a healthy workplace for their employees, the majority still do not address providing mental health and wellbeing support.
The report, which polled 1018 Singapore employees, found minimal improvement in burnout levels, with 61% of employees feeling burnt out in 2024 compared to 62% in 2022. This underscores that employers have not done enough to manage employee burnout over the past two years. One of the possible reasons for this stagnation is that a large proportion of employees reported that they do not have access to essential wellness services, such as on-site health assessments, mobile health clinics, comprehensive benefits management, physical fitness and wellness programs, and mental health support initiatives. Only 45% of employees stated that their employer provides access to confidential counselling.
These gaps in wellness support and programs contribute to the persistence of high burnout levels among employees. A closer look at burnout among age groups reveals that it is more prevalent among certain demographics. The group with the highest rates of burnout is Gen Z, with 68% reporting feeling burnt out at work in the past three months. This is followed by 65% of Millennials, 54% of Gen X, and 36% of Baby Boomers.
Employment Hero CEO and co-founder, Ben Thompson, says: “The findings of our 2024 Wellness at Work Report underscore the urgent need for employers to prioritise mental health and wellness programs. It’s clear that current efforts are insufficient, as evidenced by the persistent high levels of burnout and stress, particularly among younger employees. Employers must take proactive steps to provide comprehensive mental health support and wellness initiatives to foster a healthier, more productive workforce. Addressing these issues is not just about improving employee well-being, but also about ensuring sustainable business success in the long term. Based on the rates of burnout in the workplace, it’s no surprise that stress levels are high. Alarmingly, 39% of Singaporeans indicated that they felt stressed at work a few days a week in the last three months, with 36% feeling stressed a few days a month. Similar to burnout, Gen Zs are struggling the most with workplace stress, with 58% feeling stressed a few days a week, compared to 44% of Millennials, 29% of Gen X, and 20% of Baby Boomers. “
Dealing with stress at work is a common challenge that many employees face, and addressing it effectively is crucial for both personal well-being and professional performance,” shared Sudesh T, Head of Diversity, Equity and Inclusion, Manulife Asia. “Flexible working arrangements, remote work options, and flexible hours so employees can better manage both personal and professional responsibilities can significantly reduce stress and improve overall job satisfaction.”
Other key findings from the report:
● 27% of employees voice that financial stress and the rising cost of living is the biggest cause of stress
● Less than half (47%) of employees are on track with their financial goals
● 58% of employees don’t think their workplaces are doing enough to support rising living costs
