'Employers must remain mindful of how external factors may impact their workforce's well-being,' says expert
The cost of living is stressing out many Canadians, and this is causing their happiness level to drop, according to a report from ADP.
Overall, 59% of Canadian workers report that the cost of living significantly impacts stress levels during the workday. Nearly seven in 10 (68%) say that the rising cost of food and groceries and planning for major expenses (62%) heavily affect stress levels during work hours.
As a result, the National Work Happiness Score for May 2024 is 6.6/10, down 0.2 points from the score in April. The primary indicator score is 6.8/10 from 6.9 in April.
"The May Index reveals a sharp contrast to the gains recorded last month," says Heather Haslam, vice president of marketing at ADP Canada. "With workers in Canada noting economic turmoil as a daily stressor, employers must remain mindful of how external factors may impact their workforce’s well-being. Leading with empathy and encouraging open communication can help support employees when stress levels are high."
Financial compensation is the top priority for professionals in different fields, according to a previous report.
Are people satisfied with their work?
The happiness scores are also down when it comes to secondary indicators, according to ADPs survey of 1,200 Canadians conducted in May:
- work-life balance & flexibility: 6.8/10, down 0.1 from last month
- recognition & support: 6.5/10, down 0.2
- compensation & benefits: 6.1/10, down 0.2
- options for career advancement: 6.0/10, down 0.1
Less than half (44%) of respondents say they are satisfied with their current role and responsibilities.
Three-quarters (73 per cent) of middle managers in Canada are experiencing burnout, according to a previous report.
Among age groups, the happiness scores of boomers had the biggest drop, and that of the Gen Z workers had the biggest gain, according to ADP. Still, boomers have the highest happiness score among the group:
- Boomers (59+): 7.1/10, down 0.4
- Gen-Z (18-26): 6.8/10, up 0.2
- Millennials (27-42): 6.5/10, down 0.3
- Gen-X (43-58): 6.5/10, no change
Regionally, Atlantic Canada and Québec are the happiest regions, while Alberta records their lowest score, falling to last place:
- Atlantic Canada: 6.9/10, down 0.2
- Québec: 6.9/10, no change
- British Columbia: 6.7/10 , no change
- Ontario: 6.5/10, down 0.1
- Sask/Manitoba: 6.4/10, down 0.5
- Alberta: 6.3/10, down 0.5
"These findings serve as a valuable reminder to regularly connect with your staff and reassess existing support structures, aiming to cultivate a nurturing environment that fosters employees' growth, both personally and professionally," says Haslam.
Having a sense of purpose at work is an important factor for the job satisfaction and wellbeing of Gen Z and millennial employees, according to a Deloitte report.