Money isn't everything to the modern worker, one study suggests
Employers who pay little attention to the well-being of their staff are bound to pay the price.
Poor mental health – as the result of working in a toxic environment – can have a direct and concrete impact on employee turnover, findings of a new global survey revealed.
Money isn’t everything
More than three in four Canadians (77%) polled by HR services firm Morneau Shepell are said to be open to leaving their current employer – forgoing the offer of a bigger paycheque in the process – if their new company promises to support their well-being, particularly their mental health.
Money isn’t everything to the modern worker, the study suggests.
READ MORE: How can HR help employees through stressful times?
Even if switching to a new employer meant earning much less, three in five Canadians (60%) are reportedly still willing to make the move.
This is true even for workers who are already stressed out because of their financial struggles (51%).
“Canadians are telling us that mental health support is most important to them,” said Stephen Liptrap, president and CEO of Morneau Shepell.
“And yet, many employers are primarily focusing on the compensation side of recruitment and retention strategies and providing well-being support for physical health first.”
READ MORE: 70% of employees worry about money at work
Increasing demands at work
Just in the past couple of years, there has been an increase in the ‘mental demands’ of the modern workplace, from problem-solving and creativity to the need to be agile and disruptive, nearly half of Canadians report.
How can employers promote better mental health strategies amid these challenges? By supporting employees with the following, they said:
- Talk therapy (53%)
- Digital mindfulness or meditation (43%)
- Digital skill building or cognitive behavioural therapy (38%)
“What worked in the past,” Liptrap said, “is no longer the primary path to success.”
“Mental health is not the same taboo topic it once was, and employees are not only prioritizing their own mental health but also expecting employers to do the same.”