A new study from property and casualty insurer The Hartford found that most U.S. workers are “at least somewhat happy” at work, but burnout levels remain high.
The Hartford’s 2023 Future of Benefits Study polled 500 employers and 1,100 workers in February.
Of the workers surveyed, 16% said they were “not very happy or not at all happy at work.” The remaining 84% said they are “at least somewhat happy.”
However, many employers surveyed said employees are working long hours and are expected to be available outside of normal working hours, which can contribute to burnout.
“We are in a unique era in the world of work as employers and workers navigate shifting workplace models to discover what will be the new normal,” said Jonathan Bennett, head of group benefits at The Hartford. “It is encouraging to see most workers are happy in their jobs, but employers must take note of the burnout trend.”
Bennett said companies that offer benefits and programs to support their employees’ personal and professional well-being “will foster a happy, healthy and productive workforce that can help their company thrive.”
According to the study, 92% of workers said they do their work well or go above and beyond (49% and 43%, respectively). About 60% said they were experiencing burnout.
The study also found that, aside from salary, the top three drivers of happiness for workers were: paid time off (37%), work-life balance (29%) and a sense of accomplishment (27%).
Meanwhile, employers said they were focused on creating work-life balance (46%), providing good employee benefits (43%) and improving company culture (39%).
While employers embraced remote work during the COVID-19 pandemic, the study showed that workers still place value in personal connections in the workplace.
Sixty-nine percent of workers said strong personal connections with co-workers are important, and 67% said they have those strong personal connections.
The study revealed a disconnect between what employers and employees think about work-from-home preferences. More than half of employers (53%) said they believed their employees would prefer to work remotely full-time if allowed; only 21% of workers said that was their preference.
One-quarter of workers said they prefer being in a physical workplace full time, and more than half prefer to be in-person between one and four days a week.
Recent trends show employers are calling their employees back to the office, with nearly two-thirds of employers (63%) now requiring employees to come into the physical workplace more often.
Three-quarters of workers said they feel at least somewhat stressed about their household finances, with 39% saying they feel very or extremely stressed. Millennials felt the most financial stress, with 38% saying they do not feel secure about their financial situation, compared with 29% for Baby Boomers, 31% of Gen X and 28% of Gen Z.
Thirty percent of workers said their financial health always or almost always negatively affects their productivity at work – higher than the impacts of mental health (24%) and physical health (18%) on productivity.
Also, The Hartford’s research showed that employee benefits remain important to support the overall wellness of workers and to help attract and retain talent.
Among the findings:
- 72% of workers say employee benefits offered through their company have at least a moderate impact on their decision to stay with their current company;
- 79% of workers value the insurance benefits their company offers;
- 64% of workers trust their company is making the best decisions about the benefits they make available, an increase from 59% in 2022.
The full study is available at www.thehartford.com/futureofbenefits.
