The pandemic and subsequent economic recession are storms that will last much longer. Companies and their employees need one quality to be able to weather them – resilience.
A new report titled Rising ResilientOpens a new window from Aon has found that only 30% of employees surveyed are resilient. However, resilience can triple when employers develop and provide a well-rounded program of support.
Employees who have poor resilience also have 55% lower engagement at work. They are also 42% less likely to want to stay with their organization.
Both employees and employers have been experiencing a situation like never before. A rapid transition to new business methods defines this time, but whether this transition is sustainable in the long term must be examined. The inherent resilience of entities and people have been drawn upon to tide over this crisis. A recent report by BetterUp also shared the importance of this attribute for businesses to thrive.
Low Levels of Employee Resilience
As per the report, even though health and well-being initiatives are firmly entrenched with employers and 80% agree that they are beneficial for their organizations, these initiatives do not yield the result they should – resilient workforces.
Resilience levels were measured based on three primary indicators: employees’ sense of security, sense of belonging, and the ability to reach their potential. 42% of all employees who responded don’t feel secure at work, 52% don’t feel a sense of belonging, and 55% don’t feel they can reach their potential.
These parameters collectively have a significant connection with managing change and adapting to a new world order. Despite the presence of wellness programs, they have not had the desired impact on resilience.
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Possible Reasons for Low Resilience Levels
As per Aon, employee resilience levels triple when employers focus on comprehensive health and well-being strategies that include physical, social, emotional, financial, and professional needs.
Employee well-being is not viewed as a business need
Despite knowing the connection with engagement and resilience, companies have usually perceived and communicated employee wellness initiatives as good-to-do rather than a business imperative. Most companies have developed superficial strategies instead of in-depth ones. The fact that companies were unprepared for a long-term shift to remote working when the pandemic hit the world shows that most of the steps taken in this direction have been more reactive as against being proactive.
Lack of a comprehensive roadmap
The lack of a holistic approach might be one of the reasons for low resilience. For example, several organizations are planning to carry out temperature screenings and social distancing measures. A few are also focusing on professional needs by providing online learning and reskilling or upskilling opportunities. But very few are focusing on emotional, financial, and social well-being. Several apps are available to address these needs, but organizations need to invest in them to create a culture of overall wellness, leading to a more resilient workforce.
Non-assessment of existing plans to know what employees value
Few organizations track benefits usage, how employees use it, and whether they expect something different. There is a tendency to benchmark against the market best practices and then apply the same internally. However, first, the organizational context is not always included in this approach. Second, companies do not regularly gather feedback on its utilization and whether employees want to use it going forward after implementing it.
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Developing resilience, much like developing any form of muscle in the body, requires regular work. This means, initiatives in isolation will not work. A strategy that combines wellness initiatives, upskilling, and employee engagement methods could help develop a more resilient workforce.
Note: The survey includes the views of 2,500 employers and employees across the U.K., France, Italy, Spain, and The Netherlands.