Canadian businesses believe burnout will hurt companies’ bottom line this year, new Sage study in Canada finds

Business leaders share concerns for employees’ wellbeing; a hybrid work model; and investing for recovery

TORONTO, April 28, 2021 (GLOBE NEWSWIRE) -- Sage (FTSE: SGE), the market leader in cloud business management solutions, uncovered the impact of burnout on Canadian businesses in a new commissioned report – 2021 Forward Together.

The report found:

• Among businesses hurt by the pandemic, 42% of Canadian business leaders believe dampened employee morale and potential increase of burnout will negatively impact their revenues for the remainder of 2021.
• One in three (32%) Canadian workers believe burnout in their household (themselves or their family) will affect their ability to do their job effectively this year.

Concerns over employees’ wellbeing

When planning for post-pandemic recovery, business leaders are placing much emphasis on their employees, primarily their mental health and safety. However, the level of action taken varies.

• 47% of business leaders are concerned about employee burnout. However, of those concerned, 68% have not taken action to address this issue.
• 43% are concerned about employees feeling safe to return to the workplace and of those concerned, half (51%) have already taken action to address the issue.

In addition, vaccine rollout is another major factor determining businesses’ outlook and business leaders and workers share similar opinions on vaccines.

• A majority (86%) of business leaders believe keeping vaccine rollout on or ahead of schedule will contribute to their success in 2021.
• Half of business leaders (55%) and workers (51%) believe receiving a COVID-19 vaccine should be mandatory before employees return to the workplace, compared to 24% of business leaders and 32% of workers who believe that should not be the case.

"The past year has been a difficult time for many businesses across Canada to navigate, but we're starting to see a light at the end of the tunnel," says Nancy Tichbon, Managing Director, Sage Canada. "While there are some external factors outside of our control, business leaders should be focused on planning and prioritizing employee wellbeing, investing in training and skills development, hiring new staff and adopting the latest technologies to enable employees to work smarter, not harder."