According to Everyonesocial, employee burnout is on the rise in 2021.
Our report represents an analysis of burnout statistics collected from various open data sources as well as trends derived from this data.
This report will guide you toward a better understanding of how burnout impacts your team performance in both the short and long runs and will allow you a better understanding of how to build a winning strategy for your team using digital means and knowledge transfer software.
Let the data speak: burnout in numbers
According to Harvard Business Review research:
• Burnout and workplace stress in the United States led to nearly 120,000 deaths and about $190 billion in spending each year
• The same article indicates that “in high-pressure firms healthcare costs are 50% greater than at other organizations”
According to Deloitte survey
• 84 percent of millennials experienced burnout at their current job
• Nearly half of millennials have left a job specifically because they felt burned out
Ongoing need for knowledge transfer: one of the key burnout factors
In our fast-changing world, we have an ongoing need to improve our knowledge. This tendency is especially strong in dynamic areas such as technology, finance, etc.
Organizations have to learn new methods, instruments, approaches, technologies, etc. just to keep the same level of competencies, let alone to grow and stand apart from their competitors.
This situation puts immense pressure on employees who feel themselves constantly “trying to catch up” in areas such as new knowledge, technologies, and methodologies.
An organization can no longer refuse to participate in this “I know more” race; it must use all possible and available means and instruments to facilitate a knowledge transfer for its employees.
Let’s look into an analysis of available digital means that can help your organization support and reinforce employees’ knowledge without putting unnecessary pressure on them.
Learning events embedded in the day-to-day reality
In 2020 – 2021, Cyperᵀᴹ business development experts have been conducting an analysis and survey among its potential clients asking the same question: what learning events do you use at your workplace?
We questioned 87 organizations (from 100 to 5000 employees) all working in a private sector.
11% of organizations have a dedicated person responsible for educational events
Of that 11%, 92% mentioned their HR departments as the division responsible for educational events
Of that 11%, 8% of organizations prefer to have a person responsible for the internal education at each division because they believe that the internal education should be treated by using “expertise-based” principles.
62% of organizations use various tools to organize educational events (Visio, MIRO, other mind map solutions, PowerPoint presentations, and preliminary Video lesson recordings available in free access or purchased from special organizations)
38% of organizations implemented learning management software and tools enabled by a LMS (Learning Management System).
Surveyed organizations mentioned the following event types:
“Lunch and Learn”, both virtual and in-person
⁃ Several hours during the working day
⁃ Learning weekends
38% of organizations don’t have any ongoing knowledge events strategy and conduct internal education chaotically as per employees’ requests
The overall satisfaction related to knowledge transfer events
• 78% of the organizations surveyed mentioned that not all participants were able to attend educational events due to their workload
• 92% of employees that couldn’t always participate in educational events felt the frustration and had a stressful “I’m not catching up with my peers” feeling
• 8% of employees that couldn’t always participate in educational events were not very concerned about participating in such events because they were not told about the importance of such educational events
97% of surveyed organizations mentioned that they would prefer to have an ongoing knowledge transfer conducted for all employees using the online knowledge transfer platform available for everyone
Online knowledge transfer platform: a sophisticated solution that helps you reduce the ongoing “I need to catch up with the industry” stress
Statistics, collected by Cyperᵀᴹ experts, revealed that:
More than 70% of organizations surveyed stated that they want to have a digital tool that would be accessible to different team members and divisions’ experts responsible for the internal knowledge transfer so that they could put in place and continuously conduct a seamless and ongoing knowledge transfer
Those organizations mentioned above also indicated that they were eager to allow access to all their team members to such platforms so that they could access the necessary knowledge transfer information from anywhere (home, office, on the go) and using any platform (smartphone, laptop, tablet).
The same organizations mentioned that they would like to use a sophisticated, easily accessible and simply built online platform to conduct knowledge transfer while:
• Onboarding new team members
• Changing team members’ roles within the organization
• Implementing new rules, procedures, policies, etc.
• Conducting end-user education while adopting new technologies
• Planning their internal business processes and activities
More than 92% of organizations surveyed admitted that implementing an efficient and ongoing knowledge transfer strategy combined with its application through a digital tool (such as an online knowledge transfer platform) would significantly reduce the overall employees’ stress and, as a consequence, the risk of employee burnout.
Ongoing seamless knowledge transfer: Analysis conclusion and Cyperᵀᴹ’s response to a market need
Based on the analysis presented in this article, Cyperᵀᴹ’s experts confirmed an assumption that burnout, provoked by daily stress and the constant need to improve knowledge and skills, could be reduced enacting an ongoing and sophisticated knowledge transfer policy inside an organization.
Such an ongoing knowledge transfer strategy should become a part of the long-term continuous improvement strategy implemented within an organization.
Tools are important. This is a reason why an online knowledge transfer platform is a must have tool for any organization that chooses an ongoing knowledge transfer program and a continuous learning culture improvement as a part of its long-term strategy.
As a response to the business need described in this report, Cyperᵀᴹ’s experts have designed and developed the online knowledge transfer platform called Learning Curve.
This digital learning platform is a web-based application available from any device – all you need is an Internet connection.
• Create the educational content (for example, the head of an HR division can create a category called “HR Policies” and add various educational materials)
• Read, watch and successfully adopt knowledge through platforms (for example, newly engaged employees can browse through assigned educational categories and courses, HR policies, IT & Security Policies, and other Procedures and Policies required by their departments)
• You can incorporate into the lessons any data (e.g., upload Word, PDF, Excel, etc. documents)
• You can add a link to a video file on YouTube, to a Google Document, to a Google Spreadsheet, etc.
• You can type your educational content inside the lesson and organize/reorganize courses and categories within the platform
• You can literally “plug and play”; then, just start as soon as you want after going through the basic setup by our experts
• You can request a white label customization and branding of the platform using your own colors and fonts
Difficult and challenging times require quick and efficient solutions. As a cutting edge organization, Cyperᵀᴹ conducts both surveys and analysis and creates solutions based on statistical results.
You can look for what the marketplace might offer, OR you can try our unique solution immediately. Request a demo of Learning Curve that has been expertly created to show you how to help your employees reduce stress, decrease the likelihood of burnout and provide your organization with the tools and skill sets needed to create a team of champions who always have a platform available to learn and stay abreast of the latest tendencies, trends and skills.
About the author
Elena (Olena) Pomazanova, Cyperᵀᴹ’s President and Founder, conducted her studies in several fields crucial for successful business administration and analysis including: MSc. in Banking, MSc. in International Economics, BAC in Economics and Entrepreneurship, and MBA for Executives.
Elena worked as the Chairman of the Board of an Insurance Company and as a Deputy Chairman in Finances in an Investment Company. During her career, she has conducted a series of analyses for companies undergoing M&A and orchestrated full business processes, including automation and digital ecosystems’ setup, for organizations working in the telecommunications, insurance, metal and retail industries.
Her objectives are to ensure a sustainable digital move for Cyperᵀᴹ’s clients and to provide them with an opportunity to make sound data-driven decisions.
Elena shares valuable data-driven insights with her audience to allow organizations to make better decisions and reduce decision-fatigue-related stress.
To contact Elena, please drop a line to email@example.com.