The Business Value of Resilience
The workplace has always been typified with stress; as long as there have been offices, there have been office workers battling distraction, depression, and uncertainty. In the workplace, feelings of doubt, anxiety, and depression translate directly to the bottom line. The CDC reports that depression interferes with a person’s cognitive abilities at work 35% of the time, and depression and anxiety have a significant economic impact; WHO estimates the cost to the global economy at US$ 1 trillion per year in lost productivity.
And that’s in a “normal” year. As the pandemic and subsequent lockdowns stretch out into the fall, questions about a return to ‘normalcy’, the economy, and job stability only grow. But if we’ve learned anything this year, it’s that normal only means ‘what’s next’, and that’s not necessarily a bad thing. In fact, that’s not even new - stress, in some form, has always and will always exist.
Psychologists define resilience as adapting well in the face of adversity, trauma, tragedy, and stress. While it’s common to think of resilience as the ability to ‘bounce back’, it’s better defined as ‘bouncing forward’ - being truly resilient involves significant personal growth. In a work environment, cultivating resilience is a critical strategy.
Employees who are resilient build strong relationships, and have deep emotional intelligence. They are also more purpose-driven. Employees who understand and are committed to the underlying mission of their work and organization are 54 percent more likely to stay for five years at a company and 30 percent more likely to become high performers than those who are only motivated by a paycheck.
Resilience isn’t just a strategy, it’s a skill with real business value. Employers, leadership, and upper management have a big opportunity to help their employees build greater resilience. Here’s how:
De-stigmatize the mental health conversation in the office. 1 in 5 Americans lives with a mental illness like depression or anxiety, and nearly 94% say they feel anxiety at work. Employees might feel reluctant to bring up these issues, for fear of being viewed as weak or unstable. Create space for private, non judgemental conversations with your team - a 20-minute Zoom check-in, or an intentional email thread. Mitigate ‘extra’ stress through open-ended communication and resources.
Help employees understand their resources and benefits. Make sure access to EAP and wellness benefits is easy and understandable. But remember it’s not just about listing resources; management needs to make it clear accessing those resources is critical, and the well-being of their employees is important. Establish a culture of trust and connection isn’t easy; third party partners like BetterSpaces can help bridge gaps and provide support.
Use technology to further the conversation. A well-being platform like BetterSpaces gives employees options throughout their workday to seek relief, connection, and learning opportunities. A high touch, high tech approach helps companies stay more culturally aligned with their employees, and sustains long-term well-being and healthy company culture.
As more and more people return to the office, both emotional and physical safety will be more important than ever. We know we’ll see more change. Your company will be more prepared for the ‘next normals’ when your team is empowered, resourced, and resilient.
On August 13th, 2020, our Director of Business Development Janera Soerel was in conversation with Mim Senft of Global Women 4 Wellbeing, discussing the importance of resilience and trust in the workplace. Watch the highlight video now!