Photo by Ryan Yeaman on Unsplash
Why so gloomy? Employees are unhappier than ever.
Today's complex problems are seemingly endless. There's unprecedented time after unprecedented time.
We've seen mass layoffs, a pandemic, an ever-looming recession, industry-wide strikes, the push and pull of returning to the office, and the threat of artificial intelligence coming for all of our jobs, anyway.
Outside of work, there's inflation, gas prices that feel otherworldly, a housing shortage, and a lack of support for caregivers.
This rapidly evolving world feels like it will leave so many of us in its wake.
Any of the aforementioned stressors would be enough to keep us awake at night. We're weighed down by the enormous stress of student loans, creeping debt, and the desire to keep up with the endless successes we see on social media.
The Great Gloom: Employee Satisfaction Is in the Dumps!
Remember the Great Resignation? It was a fun, short-lived moment when it seemed that employees finally had the upper hand in the workplace.
Finally, the employee experience was taken into consideration. It seemed that we would finally achieve those bigger salaries, better benefits, better healthcare, and a real work-life balance. If not, we were all too ready to quit our jobs.
However, too soon, we saw the end of the Great Resignation and the beginning of massive layoffs. Overnight, it seemed, every organization and business had sustained irreparable damage from Covid-19. The only way to fix it was to skim the headcount.
Before this becomes too much of a rant, let's dive into the statistics.
BambooHR's employee happiness index report has measured employee satisfaction across eight key industries. Since 2020, BambooHR has gathered monthly data from 57,000 employees at over 1,600 companies.
Since the beginning of 2020, happiness has been in a state of decline at a rate of about six percent year over year. However, 2023 has seen a steep and steady drop. The worst part? The same unhappy employees have come to accept that morale will continue to dip.
BambooHR isn't the only institution tracking happiness, either. According to Gallup's July 2023 survey, 80 percent of Americans are dissatisfied with how things are going in the US.
Pro Tip: Watch these TED Talks on happiness and gratitude to clarify what drives your happiness.
More Gloomy Statistics + Figures
- Massive Layoffs: As of August 2023, more than 225,000 tech workers from 932 companies have lost their jobs, dealing a serious blow to remaining employees’ morale.
- Long Covid: Around 65 million people live with long COVID, with symptoms spanning cognitive problems, respiratory issues, and chronic fatigue.
- Paycheck to Paycheck: 61% of Americans still live paycheck to paycheck, and 21% struggle to pay their bills.
- Educators Are Fed Up: A Merrimack College survey of 1,300 educators conducted last year found that just 12% are “very satisfied” with their jobs. 74% of the teachers reported that they felt unsatisfied with their compensation.
Feeling sufficiently depressed yet? That's only the tip of the iceberg. Gas is more expensive by the day. Used cars are more expensive than ever, and forget about how expensive it is to lease a new car.
Restaurant costs increased 6.5% between August 2022 and August 2023. Looking to save money by eating at home? Groceries have also increased due to food production costs, droughts, wildfires, and war (the war in Ukraine negatively impacts the ability to export food).
I won't even try to touch the housing situation lest my head erupts into flames. Let's just say there aren't enough houses, and what is available is grossly overpriced.
So, what do we do about it? Is there anything we can do, anyway?
How Employees and Employers Can Weather the Great Gloom
Depending on the perspective through which you are reading this article, there are ways to plan to weather the gloom, improve your own situation, or (hello, leaders) to ensure that your employees are valued and recognized as people—not as a bottom line.
If You're an Employee
The good news is that I will not tell you to "perk up" or "hustle harder" to make it through. We've tried the toxic positivity route, and it simply does not work.
I'm no economist, and I doubt even the most prolific economists can accurately predict how the next few years will shake out. However, there are things you can do, on an individual level, to safeguard yourself against economic instability, layoffs, and workplace unhappiness.
1. Talk About It
Don't be afraid to ask for what you need at work.
Whether you need support, guidance, or that raise that has been on hold since 2020, ask for it. If you're not getting what you need—and what you deserve—from your career, it might be time to reevaluate your goals and your values.
2. Learn and Grow
Take every opportunity to expand your skills, knowledge, and knowledge in your industry. In fact, if other industries interest you, learn more about those, too! The best way to safeguard your career is by creating an irreplaceable repertoire of all you can do.
If You're an Employer
Even if you manage two people, you can make a huge difference for those two individuals. Small gestures of gratitude and respect make a huge difference, especially in a workforce that's feeling universally glum.
1. Create a Human-First Work Environment
One common denominator in many of the toughest workplace developments in the past few years is a shaky bottom line. With the quest to limit costs and increase profits, many organizations resort to layoffs as a way to save a quick buck. Once seasonality picks up, they quickly rehire until the next mass layoffs are necessary. And so the cycle repeats.
As leaders, it's crucial to put empathy and humanity at the center of a jaded and disillusioned workforce. Offer support, guidance, and perspective. Give your employees touchpoints and—this may sound wild, but—make efforts so every human feels like a human.
2. Keep Comunication Open
In uncertain times, it's terrifying to exist as an employee who may or may not be on the chopping block at any time. Keep your lines of communication open. Offer yourself as a resource, a sounding board, and a calming voice when you can.
