In a recent survey conducted by Fiverr International, a startling 85% of business leaders in the United States acknowledge the presence of an employee burnout crisis, raising concerns about the imminent challenges in retaining talent in 2024. The comprehensive survey, carried out nationwide in collaboration with Censuswide, canvassed the opinions of 1,000 US employees and freelancers, as well as 501 US business leaders.
The findings reveal a workforce grappling with burnout, prompting a significant shift in attitudes toward work and career choices. Fiverr's Chief Business Officer, Gali Arnon, commented on the evolving landscape, stating, "At the culmination of a challenging year, many workers are reassessing their relationship with work. Pressures to return to the office, a 9-5 schedule, stress from management, and a lack of free time have all contributed to an epidemic of burnout among US workers."
According to the survey, 74% of respondents express an intention to start or continue freelancing in 2024. This trend is indicative of a renewed emphasis on passion-driven work and work-life balance. Arnon notes, "The majority of business leaders recognize that their full-time employees are experiencing burnout and are increasingly leaning on external talent."
The burnout epidemic, reaching a climax in 2023, saw 54% of workers reporting burnout or mental health challenges attributed to work-related factors. Industries such as Finance (58%) and IT (55%) experienced even higher rates. Intense workloads (47%), toxic company culture (39%), and pressure from managers (41%) were identified as key contributors to burnout.
Although 85% of business leaders are aware of burnout within their organizations, only 40% of employees indicate that their company offers mental health and well-being benefits or are aware of such provisions. This disconnect suggests a critical need for employers to address the rising burnout rates by providing appropriate resources.
Faced with the challenge of supporting and retaining full-time workers, businesses are turning to freelance talent as a lifeline. Nearly half (48%) of business leaders report currently working with freelancers, with 92% of them believing that this approach helps manage the workload for full-time employees.
As 2024 approaches, improving mental health and well-being emerges as a top career priority for 47% of surveyed workers. A significant 65% of employees struggling with work-life balance express a willingness to leave their current employer if conditions do not improve, rising to a staggering 78% among millennials.