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HR firm isolved’s second-annual Business Owners Report, based on responses from 2,032 owners, founders, and CEOs in the U.S., finds that 76 percent say running a business has become more complicated in the past year, a steep climb from just 52 percent the year prior. While it’s easy to blame pressure from profit measures, the real challenge is far more human and requires a human approach.
Eighty-two percent of business owners report that their concerns about employee wellness have increased in the past year. They’re right to worry: 79 percent of employees report experiencing burnout, and burned-out employees are 35 percent more likely to job hunt. Supporting employees isn’t just the right thing to do; it’s essential to building a resilient, committed workforce.
Luckily, many business owners are already leading with empathy. For those looking to follow their lead, isolved’s study makes a strong case for three ways to start: treating workers as people, not positions; pairing purpose with practical tools; and embracing humane leadership.
Treating employees as people, not positions
Business owners feel confident they’re taking the right steps to support employee well-being, with 99 percent planning new investments, most often in financial wellness. This is a vital area to focus on, as 42 percent of employees say salary is a top motivator for job hunting.
But compensation alone reflects only one part of the employee experience. Viewing work strictly as an exchange of labor for pay is outdated. Employees want to feel valued for who they are as whole people, not just the positions they fill. When employers don’t do that, employees will jump ship for companies that do.
So, if business owners are pouring money into wellness, they need finance perks that will drive impact, and that means going beyond financial wellness. Another critical area to prioritize is flexibility. Forty-six percent of workers say the promise of flexible work arrangements (such as hybrid or remote options) would entice them to job hunt, outranking salary. Also, more than a quarter (26 percent) say flexible benefits also serve as a compelling factor for taking a new job.
“By mastering benefits and flexibility, employers tell their workers just how much they care,” said Amy Mosher, Chief People Officer at isolved. “Yet many employees say their employers miss the mark on both. Thirty-nine percent (39 percent) are still waiting for their employers to embrace flexible work and scheduling options, and 72 percent say their benefits experience is stressful. Until business leaders close these gaps, top talent will keep walking out the door.”
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Marcel Schwantes
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