A new trend is gaining popularity amongst many organizations. In response to employee burnout—a major problem affecting motivation and employee wellbeing—companies are choosing to shut down operations for organization-wide out-of-office time to help replenish their most important resource: their people. HubSpot, for example, enacted their Global Week of Rest last month, and PwC announced two company-wide weeks of PTO per year.
Would a company-wide shutdown benefit your organization? Here are some things to consider.
The cost of poor wellbeing
Seventy-seven percent of respondents in a Deloitte study said they feel burnt out at their current job. Poor wellbeing is not only detrimental to employee mental health; it also comes at a cost. Companies without systems to support employee wellbeing have higher turnover, lower productivity, and higher healthcare costs. Some of the statistics may surprise you:
- Organizations globally lost $322 billion in turnover and lost productivity costs due to employee burnout.
- Voluntary turnover attributes for 15-20% of overall payroll costs.
- Preventable conditions make up 75% of employer medical costs.
To support employee wellbeing, some basic needs must first be met. The motivation-hygiene theory, coined by Frederick Herzberg, states that job satisfaction is maintained when foundational needs are taken care of (salary, good work conditions and relationships) and work feels motivating (challenging tasks, praise, involvement in decision-making).
Why we offer a week of company-wide PTO
At the Josh Bersin Academy, we try to provide good working conditions by taking a company-wide week of rest every summer. Since during this time all our employees are on break together, none of us have to worry about answering emails or Slack messages while we’re on vacation. We can truly disconnect during this time and can come back to the office feeling refreshed and motivated to work.
Do you think a company-wide shutdown would benefit your organization? If not, there are other ways you can support employee wellbeing, too.
How can organizations support employee wellbeing?
In our Program, The New World of Wellbeing, we cover six essential components of employee wellbeing. Rather than just focusing on mental health, each Field Manual (our version of an online module) also covers how companies can support their employees’ physical wellbeing, create a safe work environment, enhance their employees’ financial fitness, and promote a healthy social life outside of work.
Enroll in the Josh Bersin Academy to learn more about how you can take a holistic approach to wellbeing that goes beyond caring for employee mental health.
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