Over half of employees say they\u2019re at a moderate to high risk of burnout.<\/p>\n
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Burnout is a multi-million-dollar hidden business expense that\u2019s undermining corporate America\u2019s bottom line. According to new research published<\/a> in the American Journal of Preventive Medicine, at an average 1,000-person U.S. company, employee disengagement and burnout resulted in $5.04 million in lost costs annually.<\/p>\n The True Toll Of Employee Burnout<\/p>\n There are several ways in which burnout poses a financial risk to companies. For instance, burnout often leads to higher absenteeism and reduced productivity. According to APJM\u2019s report, employees experiencing burnout are less productive and tend to miss more workdays. Studies from SHRM also show that replacing employees who quit can cost between 50% and 200%<\/a> of their annual salary, and burned-out workers are nearly three times<\/a> more likely to be actively job hunting. What\u2019s worse is that burnout can cost more than onboarding new hires. The APJM report found that disengaged and burned-out employees can cost up to 17 times more than training a single new employee.<\/p>\n Unfortunately, many employers underestimate how many of their employees are experiencing burnout. According to Care.com\u2019s \u201cFuture of Benefits Report<\/a>,\u201d 69% of employees say they\u2019re at a moderate to high risk of burnout, while employers believe only 45% of their employees are at risk. This 24-point disconnect that Care.com terms the \u201cburnout perception gap\u201d could devastate business outcomes and exacerbate the already growing costs associated with burnout.<\/p>\n