While work-life balance and remote work continue to be important to employees, half of the world’s knowledge workers (50%) are now prioritising their mental health above all else, a new report has revealed.
This figure rises to 58% for Black workers and 52% for Gen Z, respectively, according to the Employee Disillusionment Report, carried out by employment platform Oyster. People have dealt with a lot in the last year: a turbulent economy, civil unrest, surging costs of living, worsening climate crises, war in Europe, mass layoffs – not to mention the ongoing pandemic and challenges in employees’ own personal lives.
The survey of 2,500+ knowledge workers from around the world uncovers shifting priorities amid numerous external stressors that have contributed to a general sense of disillusionment among employees today and how companies can relieve some of the pressures employees are facing.
“The role that work plays in all of our lives has shifted dramatically over the last three years, and people are demanding more from their employers. But with any change comes opportunity,” said Tony Jamous, Oyster Co-founder and CEO. “Opportunity for employees to bring their whole selves to work; to be human, vulnerable, and fight for diversity. Opportunity for companies to step up and foster more employee-centric workplaces and become more successful by attracting and engaging the best talent.”
PRIORITISING MENTAL HEALTH
While employees care about their careers, advancement is far from their top priority. According to the report, mental health matters most for the majority of employees. In fact, half of global employees say their number one priority in life is their mental well-being; 32 percentage points more than the next highest priority. This is followed by relationships with friends (18%); physical wellbeing (16%); religious beliefs/spirituality(<7%); career advancement (<5%); and hobbies and activities.
The majority of Black workers (58%) prioritise their mental well-being as their top concern, more than any other racial group. And more than half of Gen Z respondents (52%) chose mental health as their top priority, compared to 45% of Gen Xers.
EMPLOYEE ENGAGEMENT CRISIS
Concerningly, over half of global knowledge workers (54%) say their work and ability to focus at work have been affected due to recent world events. Across all genders and geographies, the rising cost of living (75%) and personal worries or concerns (74%) are the top stressors impacting employees’ ability to focus on work, global health concerns (61%); economic downturn (55%); war and conflict (35%); political instability (34%); and climate change (23%).
Black knowledge workers’ ability to focus on work is disproportionately affected by these external factors, more than any other racial group. Most critically, 60% of Black employees report struggling with the rising costs of living, compared to their Hispanic (46%), Asian (39%), and white (30%) colleagues.
In fact, global health concerns impact 42% of Black workers, compared to 15% of White workers. Additionally, younger generations are almost twice as affected by rising living costs and personal concerns than their Gen X colleagues.
LOOKING AFTER EMPLOYEES
While 42% of global employees feel their company does a good job taking care of them, about a quarter of respondents either have no resources in place or don’t know of anyone in their company who’s responsible for keeping them feeling happy and well in their workplace.
The most valued aspects of workplace culture were regular pay raises, psychological safety, and flexible work, which were considered important by 86%, 84%, and 83% of respondents, respectively. Moreover, 55% of Black workers see a safe, inclusive culture as very important, compared to 42% of White workers. Black employees are also more in favor of manager check-ins (40%) and regular raises (63%) than their White colleagues (23% and 48%, respectively).
WELLBEING AT WORK
By far, women place more value than men on psychological safety (53% compared to 34%); check-ins with their manager (32% compared to 18%); recognition at work (40% compared to 25%); and workplace friendships (36% compared to 24%). Three-quarters of respondents (75%) view paid time off as the benefit that most affects their well-being at work. Competitive healthcare ranked second at 32%.
Interestingly, Americans place equal value on access to mental health support as they do on physical healthcare (53%). Black employees value access to mental health support more than their White colleagues (63% compared to 22%). Furthermore, 49% of global knowledge workers say a four-day workweek would make the biggest difference to their happiness at work, outranking the ability to work from anywhere (34%); unlimited time off (11%); reimbursed therapy (5%); and company off-sites or retreats (1%).
To find out more about Oyster’s Employee Disillusionment Report click here.
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