Long hours and burnout

Why financial institutions must address mental health to manage risk and build resilience.

Employee resilience is a vital component of risk mitigation, and it starts with a healthy workforce.

The fallout from a volatile couple of years has upended traditional working practices and operations in the financial services sector and intensified what was already a highly pressurised industry.

Long working hours, increased workload and the pressure to perform elevate the risk of work-related stress — threatening to undermine the resilience of both individuals and organisations in the financial services sector.

A cultural revolution in the wake of the 2008 banking crisis saw employee wellbeing rise up the agenda of financial institutions. However, a global spotlight on current working conditions within the industry has highlighted the risk of failing to protect the psychological safety of employees.

In our paper, Long hours and burnout, we explore how putting employee resilience at the centre of your wellbeing strategy reduces the risks associated with stress, anxiety and burnout.

This includes:

the convergence of people and risk management
the crucial role of managers
the importance of reviewing existing strategies in light of future working trends

Aon’s 2021 Global Wellbeing Survey identified the top wellbeing risks impacting company performance* as:

Stress

Burnout

* Aon’s 2021 Global Wellbeing Survey

Anxiety

Only 28% of financial services organisations feel positive about the ability of managers to address the mental health needs of employees*.

* Aon’s Rising Resilient self-assessment tool benchmark

Download Aon’s must-read paper for the financial services sector: Long hours and burnout

While the current crisis is not yet over, businesses must have an eye to the future. They cannot afford to rely on wellbeing strategies that no longer meet the complex and shifting demands of employees and operations.

Now is the time for organisations to re-examine their existing wellbeing strategies and assess their relevance and effectiveness in light of future working trends; from pay and rewards to remote working and skills development.

Simon Godfrey – Chief Commercial and Broking Officer, APAC Health Solutions, Aon

Are you rising resilient?

Our short self-assessment survey gives you an immediate indication as to whether your workforce is likely to be resilient.

Take our self-assessment survey

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Aon is a global expert in human capital consulting and health solutions that help organisations thrive.

To find out how you can become a rising, resilient organisation, contact us today.

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