Crisis recognition in the workplace

The last two decades have seen three major crises play out across the UK. In 2008 the global financial crash hit housing markets hard, the worst global COVID pandemic since the Spanish flu, and recently the war between Russia and Ukraine which has led to the worst inflation in 40 years.

The current cost of living crisis appears to be hitting hard across the UK, as revealed by a recent survey carried out by FindOutNow across 1,063 adults. 

What has been revealed is that 29% of British working adults are under pressure from the crisis and it is having a direct impact on their ability to perform their role effectively. 

35% aged between 25-34 agree that their job is being affected with financial worries and are struggling to make ends meet each month.  The sample group was small (around 1500) however the results of the survey were eye opening.

The data has overall painted a shocking picture and has also revealed a lack of progression in the workplace in terms of recognising outside stress factors that can affect workplace productivity and morale. For example, 16% claimed that expressing personal worries in the workplace has impacted their career advancement. This suggests deeper prejudices at play and is a worrying statistic that reflects poorly on workplace culture.

The survey further revealed that 60% said their productivity increased when they had resolved a personal issue but 27% said they had made up an excuse to take time off work to deal with a private matter.

The statistics provided a worrying insight into the impact the cost of living crisis is having on a day to day level especially when it impacts us on a personal level to the extent performance and ability to function at work is impacted directly.

It opens the door to further questions about how employers identify an employee in crisis and how best to manage this.

There is always the question within the workplace about work life balance versus productivity however, having support structures in place is critical to avoid individuals falling through the net. 

The statistics also indicate a lack of openness and general workplace safety to communicate worries or moments of crisis on a personal level. Managers should always be aware that if an individual is underperforming there may be other non-work related factors at play. For example, a close friend could be dying of cancer, they are on the brink of divorce, perhaps they are facing insurmountable financial problems.

Clear policies on stress both inside and outside work should be a focus point for 2023. Employers who develop their policies and workplace culture to recognize outside stress factors will be a step ahead and have more effective mechanisms in place to assist those individuals if and when a crisis or breaking point is reached.

Wellbeing programmes can be used effectively via well thought out and implemented strategies that can alleviate stress factors. Quite often affordability is a factor when considering a wellbeing strategy; however, a good start is providing a thoughtful policy document that can be delivered across management structures and implemented effectively. More often than not, recognition and open communication channels will have a positive impact on workplace wellbeing.

A recognition that we are all human beings with lives and outside influences are at play.

Another budget friendly but effective strategy would be to signpost staff to resources that can provide help and support such as local and national charities, debt advisory services and mental health resources and so forth.

Mental health in the workplace is clearly going to be under strain, as the cost of living crisis deepens. Employers should be open to recognising the warning signs early to avoid stagnation and an unravelling of productivity. Morale and productivity often go hand in hand so employers need to tackle the issue head on with innovative strategies and open communication. The survey will clearly echo a larger problem which is likely to worsen if the financial crisis deepens.