{"id":7016,"date":"2020-10-08T11:50:17","date_gmt":"2020-10-08T11:50:17","guid":{"rendered":"https:\/\/skillhill.fi\/?p=7016"},"modified":"2022-10-24T13:58:05","modified_gmt":"2022-10-24T13:58:05","slug":"business-cases-for-resilience","status":"publish","type":"post","link":"https:\/\/skillhill.fi\/fi\/business-cases-for-resilience\/","title":{"rendered":"Business Cases for Resilience"},"content":{"rendered":"\n

The ROI of Building Resilience in Your Organisation<\/strong><\/h3>\n\n\n\n

A review of current literature reinforces the link between emotional capability, resilience, well-being and the bottom-line impacts of employee absenteeism, stress-related illness and low levels of engagement (i.e. lack of discretionary effort).<\/p>\n\n\n\n

Resilience and the Bottom Line<\/strong><\/h4>\n\n\n\n

The New ROI Dave Bookbinder https:\/\/newroi.com\/2017\/05\/build-resilience-to-boost-profits <\/a><\/p>\n\n\n\n

The Bottom Line on Resilience<\/strong> <\/strong><\/p>\n\n\n\n

Leaders who would contemplate an investment in resilience training and education would naturally  want to understand the measurable ROI. According to Cheryl, the two biggest results are  increased engagement <\/strong>and increased employee retention<\/strong>. <\/p>\n\n\n\n

Employee turnover is not only disruptive, it\u2019s expensive. We\u2019ve previously discussed the cost to replace employees, so it suffices to say that with increased retention comes the avoided costs  associated with turnover. <\/p>\n\n\n\n

Regarding engagement, Gallup finds that two thirds of U.S. workers were not engaged in their jobs.  As Gallup notes, \u201cthey are also more likely to miss work and change jobs when new opportunities<\/em> <\/em>arise.\u201d<\/em> <\/em><\/p>\n\n\n\n

Dave Nast provides the following sobering statistics regarding the impact of employee engagement: \u2022 Disengaged workers cost the US about $500B\/year in lost productivity. <\/p>\n\n\n\n

\u2022 80% of employees that are dissatisfied with their direct manager are disengaged. \u2022 46% of new hires fail within 18 months, 89% of those failures are due to poor culture fit. \u2022 Engaged employees are 31% more productive, create 37% more sales, and are 3x\u2019s as creative and  innovative. <\/p>\n\n\n\n

\u2022 Companies where the majority of the workforce are engaged improved operating income by 51%  over companies with a majority of disengaged employees. <\/p>\n\n\n\n

\u2022 Organizations with a higher number of actively engaged employees have an average of 147% higher  earnings per share then the norm. <\/p>\n\n\n\n

\u2022 Engaged employees are 87% less likely to leave a company than disengaged employees. <\/p>\n\n\n\n

\u2022 Companies with a highly engaged workforce have 49% less accidents onsite. As you can see, employee engagement has real economic consequences. <\/p>\n\n\n\n

In Conclusion <\/strong>Learning resilience takes training, coaching, planning, and intention for people to be able to think  logically and objectively at a time when our emotions are telling us to run for the hills.<\/p>\n\n\n\n

New Study Reveals the Connection Between Resilience and Positive Business  Outcomes<\/strong><\/h3>\n\n\n\n

Today\u2019s employers are challenged to provide competitive benefits and employee engagement  strategies that not only support the wellbeing of their employees, but also improve the bottom line.  As resilience building and mindfulness training programs continue to gain momentum in the  workplace, meQuilibrium conducted a study to measure resilience against industry-standard  psychological metrics and desired business outcomes. Today the company released the study  findings in a report, \u201cThe Science Behind Resilience: A Study of Psychometric Measures and Business  Outcomes,\u201d which highlights the impact of resilience on stress, absenteeism, intent to quit, job  satisfaction, and physical health. <\/p>\n\n\n\n

\u201cOver the last decade, research has shown that high stress in employee populations has increased  dramatically. Because high stress leads to other health and emotional issues, employers are more  determined than ever to address stress in the workforce,\u201d says LuAnn Heinen of the National  Business Group on Health, the nation\u2019s only non-profit organization devoted exclusively to  representing large employers\u2019 perspective on national health policy issues and helping companies  optimize business performance through health improvement, innovation, and health care  management. \u201cOur own survey data shows that improving resiliency\/reducing stress is among the  top 5 behaviors employers say they are focused on in 2016.\u201d <\/p>\n\n\n\n

meQuilibrium surveyed 2,000 employed individuals, ranging from age 18 to 64. Key findings from  the study include: <\/p>\n\n\n\n

\u2022 Stress: <\/strong>Highly resilient workers have 46 percent less perceived stress than low resilience  workers. <\/p>\n\n\n\n

\u2022 Absenteeism: <\/strong>Compared to highly resilient workers, twice as many employed individuals  with low resilience have reported 1 to 3 absences in the past month. <\/p>\n\n\n\n

\u2022 Intent to Quit: <\/strong>Individuals with low resilience are twice as likely as those with high resilience  to quit in the next six months. <\/p>\n\n\n\n

\u2022 Job Satisfaction: <\/strong>Four times as many highly resilient workers are highly satisfied with their  jobs, compared to those with resilience scores in the bottom quartile. <\/p>\n\n\n\n

\u2022 Physical Health: <\/strong>Employees with low resilience are more than twice as likely to be  overweight and twice as likely to report a hospital stay in the past year. <\/p>\n\n\n\n

These results underscore that employers who work to improve resilience within their employee base  will develop a more engaged, healthy and productive workforce. Moreover, it shows that resilience  is a measureable competency comprising specific coping skills for work and life . \u201cThe evidence is in: resilience has a measurable, proven effect on your bottom line,\u201d said Jan Bruce,  co-founder and CEO of meQuilibrium. \u201cResilience isn\u2019t just a nice-to-have, but a foundational  business imperative because having a happier, less stressed, more engaged and focused workforce  delivers higher productivity, lower healthcare costs, less absenteeism\u2014and better overall financial  performance.\u201d<\/p>\n\n\n\n

5 Ways to Boost Your Resilience at Work <\/h2>\n\n\n\n
by Rich Fernandez <\/h5>\n\n\n\n

It\u2019s clear that stress and burnout related to the increasing pace and intensity of work are on the rise  globally. A survey of over 100,000 employees across Asia, Europe, Africa, North America, and South  America found that employee depression, stress and anxiety accounted for 82.6% of all emotional  health cases in Employee Assistance Programs in 2014, up from 55.2% in 2012. Also, a recent large scale, longitudinalsurvey of over 1.5 million employees in 4,500 companies across 185 countries  conducted as part of the Global Corporate Challenge found that approximately 75% of the workforce  experienced moderate to high stress levels \u2014 and more specifically, that 36% of employees reported  feeling highly or extremely stressed at work, with a further 39% reporting moderate levels of workplace  stress. The current and rising levels of stress in the workplace should be cause for concern, as there is a  direct and adverse relationship between negative stress, wellness and productivity. <\/p>\n\n\n\n

One important distinction to note is that not all stress is created equal and there are even some types  of stress that may also have a positive effect on our well-being and productivity. \u201cGood stress,\u201d or  what is sometimes known as \u201ceudaemonic stress,\u201d (derived from the Greek word \u201ceudaemonia,\u201d or  flourishing) indicates that some types of stress can make us healthier, motivate us to be our best, and  help us perform at our peak. A useful way to think about it is that stress is distributed on a bell-shaped  curve. Once past the peak or high performance apex where stress motivates us, we experience the  unhealthy effects of stress which, if sustained over time, lead not only to burnout but also to chronic  disease. <\/p>\n\n\n\n

Stress that causes us to experience difficulty or unhealthy strain \u2014 \u201cdistress\u201d \u2014 is a major cause for  concern as it directly and adversely affects personal and business success. The Global Corporate  Challenge study of over 1.5 million employees globally over a 12-year period found, for example, that  while 63% of extremely stressed employees reported above-average productivity, this number rises  significantly to 87% amongst those who say they are not at all stressed. In the same study, 77% of  extremely stressed employees also reported above-average levels of fatigue, and early warning signs  of longer-term burnout. In fact, burnout is a lagging indicator of chronic stress. <\/p>\n\n\n\n

Proof That Positive Work Cultures Are More Productive<\/strong> <\/strong><\/h4>\n\n\n\n

by Emma Sepp\u00e4l\u00e4 and Kim Cameron December 01, 2015 HBR <\/p>\n\n\n\n

Too many companies bet on having a cut-throat, high-pressure, take-no-prisoners culture to drive their  financial success. <\/p>\n\n\n\n

But a large and growing body of research on positive organizational psychology demonstrates that not  only is a cut-throat environment harmful to productivity over time, but that a positive environment will  lead to dramatic benefits for employers, employees, and the bottom line. <\/p>\n\n\n\n

Although there\u2019s an assumption that stress and pressure push employees to perform more, better, and  faster, what cutthroat organizations fail to recognize is the hidden costs incurred. <\/p>\n\n\n\n

First, health care expenditures at high-pressure companies are nearly 50% greater than at other  organizations. The American Psychological Association estimates that more than $500 billion is <\/p>\n\n\n\n

siphoned off from the U.S. economy because of workplace stress, and 550 million workdays are lost  each year due to stress on the job. Sixty percent to 80% of workplace accidents are attributed to stress,  and it\u2019s estimated that more than 80% of doctor visits are due to stress. Workplace stress has been  linked to health problems ranging from metabolic syndrome to cardiovascular disease and mortality. <\/p>\n\n\n\n

The stress of belonging to hierarchies itself is linked to disease and death. One study showed that, the  lower someone\u2019s rank in a hierarchy, the higher their chances of cardiovascular disease and death  from heart attacks. In a large-scale study of over 3,000 employees conducted by Anna Nyberg at the  Karolinska Institute, results showed a strong link between leadership behavior and heart disease in  employees. Stress-producing bosses are literally bad for the heart. <\/p>\n\n\n\n

Second is the cost of disengagement. <\/em>While a cut-throat environment and a culture of fear can ensure  engagement (and sometimes even excitement) for some time, research suggests that the inevitable  stress it creates will likely lead to disengagement over the long term. Engagement in work \u2014 which is  associated with feeling valued, secure, supported, and respected \u2014 is generally negatively associated  with a high-stress, cut-throat culture. <\/p>\n\n\n\n

And disengagement is costly. In studies by the Queens School of Business and by the Gallup  Organization, disengaged workers had 37% higher absenteeism, 49% more accidents, and 60% more  errors and defects. In organizations with low employee engagement scores, they experienced 18%  lower productivity, 16% lower profitability, 37% lower job growth, and 65% lower share price over  time. Importantly, businesses with highly engaged employees enjoyed 100% more job applications. <\/p>\n\n\n\n

Lack of loyalty is a third cost. Research shows that workplace stress leads to an increase of almost 50%  in voluntary turnover. People go on the job market, decline promotions, or resign. And the turnover  costs associated with recruiting, training, lowered productivity, lost expertise, and so forth, are  significant. The Center for American Progress estimates that replacing a single employee costs  approximately 20% of that employee\u2019s salary. <\/p>\n\n\n\n

For these reasons, many companies have established a wide variety of perks from working from home  to office gyms. However, these companies still fail to take into account the research. A Gallup  poll showed that, even when workplaces offered benefits such as flextime and work-from-home  opportunities, engagement predicted wellbeing above and beyond anything else. Employees prefer  workplace wellbeing to material benefits. <\/p>\n\n\n\n

In sum, a positive workplace is more successful over time because it increases positive emotions and  well-being. This, in turn, improves people\u2019s relationships with each other and amplifies their abilities  and their creativity. It buffers against negative experiences such as stress, thus improving employees\u2019  <\/p>\n\n\n\n

ability to bounce back from challenges and difficulties while bolstering their health. And, it attracts  employees, making them more loyal to the leader and to the organization as well as bringing out their  best strengths. When organizations develop positive, virtuous cultures they achieve significantly higher  levels of organizational effectiveness \u2014 including financial performance, customer satisfaction,  productivity, and employee engagement.<\/p>\n\n\n\n

Healthy employees, healthy bottom line <\/strong><\/h4>\n\n\n\n

In addition to delivering tangible improvement in their lives,[1]<\/sup>research shows a focus on wellbeing  benefits your business by helping attract quality employees, increase productivity and engagement,  and reduce attrition and absenteeism. <\/p>\n\n\n\n

Resilience \u2014 The Key To Sustainable Employee Engagement <\/strong><\/h4>\n\n\n\n
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Resilience \u2014\u00a0The Key To Sustainable Employee Engagement<\/a><\/blockquote>