Mental health issues have been exacerbated by the ongoing pandemic and firms must step up support, urges report
Financial services has among the highest rates of employee burnout in Canada.
The responsibility and pressure of looking after other people’s money and giving advice that can make a significant difference to financial goals has been exacerbated by health concerns and the lightning pace of adopting new ways of working over the past two years.
And while talking about mental health is far less taboo than it once was, it is often those that are struggling that are the least likely to start the conversation.
According to a new report from Canada Life in partnership with Mental Health Research Canada, 39% of respondents from the finance, legal, and insurance category are feeling burned out.
That puts these professionals ahead of first responders (36%), and education and childcare workers (38%), but behind those in transportation (40%) and health and patient care (53%).
"The number of Canadians reporting burnout is cause for concern," said Mary Ann Baynton, director of collaboration and strategy, Workplace Strategies for Mental Health. "It's not surprising though – considering we're once again faced with extreme uncertainty as the pandemic rollercoaster continues. For so many of us, anxiety and exhaustion are at an all-time high."
What is burnout?
Canada’s Centre for Addition and Mental Health (CAMH) defines burnout as:
Burnout is a state of emotional, physical and mental exhaustion caused by excessive and prolonged stress. Burnout in the course of employment can make one feel emotionally drained and unable to function in the context of work and other aspects of life.
CAHM says that burnout can negatively impact productivity and motivation and cause you to feel “helpless, hopeless and resentful.”
Greater support
We all have challenging times at work, but burnout is far deeper than just having a few bad days.
Baynton says that burnout is often seen in those that employees who set high expectations for themselves, have unreasonable demands placed on them or feel unappreciated for their efforts.
Symptoms may include emotional exhaustion, cynicism, negativity, and reduced efficiency in the workplace.
Canada Life is urging firms to offer greater support as the survey found that few respondents felt their employer do so and just one third said that their firm is committed to a low-stress environment.
"We're troubled about the many respondents who singled out the lack of psychological supports at work," said Michael Cooper, vice-president, Mental Health Research Canada. "With the pandemic it's more important than ever for employers to consider new leadership approaches to help those employees most at risk of burnout. The consequences of not doing so are significant."
This new #report prepared in partnership with @canadalifeco and @Workplace_MH examines in detail the #impact of #COVID19 on #Canadians in the #workplace, including #burnout. Read it now: https://t.co/YKyNbPiaQQ pic.twitter.com/T1OES2TKDW
— Mental Health Research Canada (@MHRCanada) January 17, 2022
