In 2017, the Harvard Business Review published an article titled “Employee Burnout Is a Problem with the Company, Not the Person.” It’s a reality that most business leaders would rather avoid, but it rings true.
The psychological and physical wear-and-tear of burnout on employees costs the U.S. healthcare industry between $125 and $190 BIllion per year. 54% of workers in the U.S. report feeling work-induced anxiety. 71% are looking for a new job right now. To top it all off, the U.S. currently ranks as the most overworked developed nation in the world.
But it’s hard for businesses to admit fault. 89% of leaders believe that employees quit jobs to pursue better financial opportunities. Untrue. Only 12% of employees leave because they have a more well-paying job lined up.
The issue doesn’t lie with employees. Moreover, most leaders know this – if only instinctively. So, what can be done?
Leaders in the U.S. need to be better trained. 58% of managers report that they received no training before their promotion. A lack of trained leadership leads to distrust – 58% of employees trust strangers more than their boss.
The unwillingness of businesses to train leadership is costly. The turnover cost for an employee making $45,000 a year is $15,000. Moreover, 75% of employee turnover is preventable. Companies spend far more replacing dissatisfied employees; then they would training leadership to perform better.
If your employees don’t feel that you care for them, they won’t care for their work. It’s really that simple. For leaders, that means aligning spend with caring for employees.
Employees can tell when a business views them as dollar signs and productivity figures. Why should they devote their time and personal energy to an organization that doesn’t care about them?
Actions speak louder than words. Leaders who demonstrate they care for their employees will create companies that outperform competitors. The math’s there to back up that statement as well. Inspired employee are 125% more productive than only ‘satisfied’ employees – but it takes exceptional leadership and working conditions to make employees inspired.
Leaders need to focus on building relationships with their employees. Additionally, leaders need to focus on developing a work environment where employees at every level of the company have real, authentic connections with one another.
Creating a workspace where employees have developed meaningful relationships with one another is vital for companies that want to succeed in the coming years.
Recognizing these needs is what inspired us to create TRIBAL, a platform that gives employers a turnkey solution for creating a sense of meaning and purpose in the workplace.
It’s no small thing to ask. Fortunately, it’s also far from impossible. Only one question remains:
Do you have what it takes to inspire your employees?
What Is Tribal?
TRIBAL is a relationship and community building platform that helps leaders build strong, inspired teams.
TRIBAL uses strategic storytelling to enable and enhance meaningful relationships across all levels of your organization. By leveraging inherent tribal natures and sharing impactful stories across your organization, TRIBAL helps leaders shape a meaningful culture from the top down and bottom up. Studies show that a meaningful workplace leads to inspired employees who outperform all others.