Impact of Stress and Burnout on Businesses in 2024

A significant 80% of risk management experts foresee stress and burnout having a major impact on businesses and employees this year. The Risk Outlook 2024 report highlights mounting employee burnout due to crisis fatigue as a critical issue. Two-thirds of professionals anticipate increased complexity in ensuring workforce health, wellbeing, and security, more than any other time in the past five years.

Workplace burnout

Key findings include:

• 72% believe mental health issues will significantly impact businesses and employees.
• 75% note higher expectations for Duty of Care, with burnout and mental fatigue now seen as organisational responsibilities.

Drivers of Burnout

The ongoing convergence of crises—personal stressors like rising living costs, climate change concerns, and political polarisation—has led to a state of permacrisis. This continuous flux fuels employee burnout, marked by emotional exhaustion and reduced productivity. Future pandemics and unforeseen events necessitate a shift from reactive crisis management to proactive preparedness.

Expert Insight

Dr Kate O’Reilly, Regional Medical Director at International SOS, stresses the urgency of addressing burnout: “We observe increased workloads, lack of work-life balance, and constant change, blurring professional and personal wellbeing lines. Employers must implement preventive measures, focusing on job design and fostering a work environment prioritising holistic wellbeing and sustainable performance.”

Guide to Addressing Burnout

Recognise the signs:

• Regular check-ins to gauge wellbeing
• Train managers to spot burnout signs
• Encourage open mental health dialogue

Proactive measures:

• Access to mental health support and counselling
• Stress management workshops

Enhance resilience:

• Promote work-life balance
• Provide support resources and clear stress-management protocols

Strategic planning:

• Develop crisis management plans addressing burnout
• Protocols for workload distribution during stress periods

Collaborative efforts:

• Collaborate with external experts
• Share best practices to strengthen resilience and support systems

Research and guide provided by International SOS