• BLOG | THE BENEFITS OF A MORE RESILIENT WORKFORCE

    February 5, 2020 | Andrew Stead
  • In the fast-paced world we live in, we’re working hard, to tight deadlines and are constantly, virtually, available. Meaning that keeping a healthy work-life balance seems almost impossible.

    Burnout lurks just around the corner and sometimes facing our simple, daily challenges can feel overwhelming.

    Around the world, employees identify work as the number one stressor in their lives (Goh et al., 2015). It’s antidote - Resilience - therefore becomes a key strategy that helps employees keep stress under control, manage workplace conflict and supports our prospects in an extremely competitive job market.

    So let’s better understand why a resilient workforce is so important, for both employees and businesses alike.

  • 1. Engagement & Motivation

    Let’s be honest, none of us – not even the most dedicated and hard-working employees – has been fully present and engaged in the office during a very stressful period.

    Evidence says that Resilience generates better workforce engagement (Moon et al., 2013) and stimulates motivation (MacConville & Rae, 2012).

  • 2. Job Retention

    Job retention is one of the most expensive problems in any corporate. Which is exactly why most of the senior execs I work with these days have turnover or retention as one of their key KPIs.

    My former employer Goldman Sachs is one of the most competitive companies to be hired into, so you might think once they got the job, people stay as long as they can. Yet 36% of students joining Goldman Sachs leave in 2 years. And GS is definitely one of the better ones!

    A resilient workforce isn’t only more engaged and motivated, it’s also more willing to stay in the company (Doney, 2017). So, continue to build a strong environment where stress and burnout are merely vague shadows rather than fearful monsters!

  • 3. Productivity

    When it comes to productivity your major asset is your people. It doesn’t matter how sophisticated your technology, how efficient your processes or how much money is invested in the company, if your people aren’t the right people, productivity levels will always be low.

    So who are the right people? Motivated, engaged, happy people, of course! Which means that creating a prototype of the perfect employee is one of the simplest things you can do to ensure your workforce is resilient. Resilience has been proven to increase productivity (Zehir & Narc─▒kara, 2016) and not only in terms of direct profitability. It also creates lower healthcare costs, lower absenteeism and decreases turnover (MacAllister et al., 2009).

  • 4. Lower Stress

    Stress is ruining life in many ways, as I wrote here a few months ago [CLICK HERE], but it’s also harming companies and organisations to their very core.

    When the workforce is stressed out, tension and arguments increase and more mistakes occur; failure becomes the norm.

    The solution? Resilience to the rescue. In cases of stress, burnout, and sleep deprivation, higher resilience has a protective effect (Shatte et al, 2017). Hence the workforce is capable of coping with longer periods under pressure.

     

  • 5. Self-Esteem & Purpose

    Resilience contributes to improved self-esteem, our sense of control over life events and a greater sense of purpose (Masten et al, 2009).

    We might think this doesn’t impact the success of our organisation, but it does. There’s nothing more valuable than employees working with purpose: their dedication, commitment and efficiency are priceless.

    And the knock-on effect is truly extensive! Since we spend most of our waking time at work, when we’re able to create a stimulating purpose driven work environment, the quality of life - for both our employees and our leaders - increases dramatically. So, the consequence stretch further still: a better society.

    Yes! Creating a more resilient workforce ultimately creates a more satisfied, motivated and happier society.

    Ready to change the world?

    Have an amazing, resilient day,

     

    Andrew