43% of Australian workers hesitate to rate their productivity as high, up from 28% last year. And that's not surprising given that burnout rates are only trending upward, according to the findings of Employment Hero's 2022 Employee Wellness Report. Last year's edition of the report found that 50% of Australians are burnt out; the number has increased to 53% this year.
The slide in productivity comes despite another finding showing that 69% believe their work is meaningful, and suggests that other stressors are severe enough to override employees' attachment to a fulfilling job. The report flags out a decline in work-life balance, with 52% saying their work-life balance is less than good, and finds a significant link between work-life balance and burnout - almost 80% of those who have poor work-life balance will end up burnt out, and a third of those who burn out will suffer decreased productivity.
Finances are another problem, with 56% stressed about money - possibly linked to looming inflation, especially in the overheated property market, and the weak Australian dollar. Even though 58% of workers feel they are fairly paid for their work, 31% believe they aren't, and 19% have decreased motivation because of it. Quite a lot of employees are only interested in more money: 36% would like to receive bonuses or overtime, double the second most popular options of higher super contributions or employer-sponsored/subsidised health insurance.
That said, 24% are actually satisfied enough with their remuneration to not want anything more from their employers. But the report also suggests that another large group of workers are increasingly interested in non-financial benefits - they are 63% more likely to be loyal to an employer that is committed to workforce wellness. It's a nudge for employers, some of whom are backing off from their initial wellness commitments now that the pandemic is more or less under control in most states.