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American workforce burnout reaches tipping point

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Aflac's 14th annual WorkForces Report reveals increasing workplace stress and burnout affecting nearly 3 in 5 American workers, with millennials most affected at 66%. The study shows 38% of employees experiencing high stress levels in 2024, up from 33% in 2023, with Hispanic workers reporting higher rates at 46%. Financial vulnerability is widespread, with 51% unable to afford $1,000 in unexpected medical expenses. The report highlights that 93% of employees see an increasing need for supplemental insurance, while 62% would consider leaving their jobs for better benefits even with a pay cut. Notable findings include 50% of employees showing 'quiet quitting' behaviors and 70% experiencing anxiety about unexpected medical conditions.

Il 14° Rapporto annuale WorkForces di Aflac rivela un aumento dello stress lavorativo e del burnout che colpisce quasi 3 lavoratori americani su 5, con i millennial che risultano i più colpiti al 66%. Lo studio mostra che il 38% dei dipendenti sperimenta livelli elevati di stress nel 2024, in aumento rispetto al 33% nel 2023, con i lavoratori ispanici che segnalano tassi più elevati, pari al 46%. La vulnerabilità finanziaria è diffusa, con il 51% che non riesce a coprire spese mediche impreviste di $1.000. Il report evidenzia che il 93% dei dipendenti percepisce un crescente bisogno di assicurazione supplementare, mentre il 62% prenderebbe in considerazione l'idea di lasciare il lavoro per migliori benefici anche a fronte di una riduzione salariale. Tra i risultati più significativi, il 50% dei dipendenti mostra comportamenti di 'quiet quitting' e il 70% manifesta ansia riguardo a condizioni mediche impreviste.

El 14° Informe anual WorkForces de Aflac revela un aumento del estrés laboral y del agotamiento que afecta a casi 3 de cada 5 trabajadores estadounidenses, siendo los millennials los más afectados con un 66%. El estudio muestra que el 38% de los empleados experimenta niveles altos de estrés en 2024, un aumento con respecto al 33% en 2023, con los trabajadores hispanos reportando tasas más altas, del 46%. La vulnerabilidad financiera es generalizada, con un 51% que no puede cubrir $1,000 en gastos médicos inesperados. El informe destaca que el 93% de los empleados ve una creciente necesidad de seguro suplementario, mientras que el 62% consideraría dejar su trabajo por mejores beneficios, incluso con una reducción salarial. Hallazgos notables incluyen que el 50% de los empleados muestra comportamientos de 'quiet quitting' y el 70% experimenta ansiedad por condiciones médicas inesperadas.

Aflac의 14번째 연례 WorkForces 보고서는 직장에서의 스트레스와 탈진이 미국 근로자 60%에 가까운 이들에게 영향을 미친다는 것을 드러냅니다. 특히 밀레니얼 세대가 66%로 가장 큰 영향을 받고 있습니다. 연구에 따르면, 2024년에는 직원의 38%가 높은 스트레스 수준을 경험할 것으로 예상됩니다, 이는 2023년의 33%에서 증가한 수치이며, 히스패닉 근로자들이 46%로 더 높은 비율을 보이고 있습니다. 재정적 취약성이 광범위하게 퍼져 있으며, 51%는 예상치 못한 의료비로 $1,000을 감당할 수 없습니다. 보고서는 93%의 직원이 추가 보험의 필요성을 느끼고 있으며, 62%는 급여 삭감에도 불구하고 더 나은 복지를 위해 직장을 떠날 것을 고려할 수 있다고 강조합니다. 주목할 만한 사항으로는 직원의 50%가 '조용한 퇴사' 행동을 보이고 있으며, 70%가 예상치 못한 의료 상태에 대한 불안감을 느끼고 있습니다.

Le 14ème Rapport annuel WorkForces d'Aflac révèle une augmentation du stress au travail et du burnout touchant près de 3 travailleurs américains sur 5, avec les millennials les plus concernés à 66%. L'étude montre que 38% des employés connaissent des niveaux de stress élevés en 2024, en hausse par rapport à 33% en 2023, les travailleurs hispaniques signalant des taux plus élevés à 46%. La vulnérabilité financière est généralisée, avec 51% ne pouvant pas se permettre des dépenses médicales imprévues de 1 000 $. Le rapport souligne que 93% des employés perçoivent un besoin croissant d'assurances complémentaires, tandis que 62% envisageraient de quitter leur emploi pour de meilleurs avantages même avec une baisse de salaire. Des résultats notables comprennent 50% des employés affichant des comportements de 'quiet quitting' et 70% éprouvant de l'anxiété face à des conditions médicales imprévues.

Der 14. jährliche WorkForces-Bericht von Aflac zeigt einen Anstieg von Stress und Burnout am Arbeitsplatz, der fast 3 von 5 amerikanischen Arbeitnehmern betrifft, wobei die Millennials mit 66% am stärksten betroffen sind. Die Studie zeigt, dass 38% der Mitarbeiter im Jahr 2024 hohe Stresslevel erleben, ein Anstieg von 33% im Jahr 2023, wobei hispanische Arbeitnehmer mit 46% höhere Werte berichten. Finanzielle Verwundbarkeit ist weit verbreitet, da 51% nicht in der Lage sind, $1.000 unerwartete medizinische Ausgaben zu decken. Der Bericht hebt hervor, dass 93% der Arbeitnehmer einen zunehmenden Bedarf an zusätzlicher Versicherung sehen, während 62% in Erwägung ziehen würden, ihren Job für bessere Leistungen zu verlassen, selbst wenn dies mit einer Gehaltsreduzierung verbunden ist. Bemerkenswerte Ergebnisse beinhalten, dass 50% der Mitarbeiter 'quiet quitting'-Verhalten zeigen und 70% Angst vor unerwarteten medizinischen Bedingungen empfinden.

Positive
  • 93% of employees recognize supplemental insurance importance - highest in 14 years
  • Benefits importance for employee retention reached all-time high
  • 91% report positive impact from corporate social responsibility participation
Negative
  • 38% of employees experiencing high stress levels, up from 33% in 2023
  • 51% of employees cannot afford $1,000 in unexpected medical expenses
  • 50% of employees showing counterproductive 'quiet quitting' behaviors
  • 64% of employees cannot go more than one month without a paycheck
  • Increased post-traumatic stress (12% vs 7%) and eating disorders (9% vs 6%) from 2023

Insights

This workforce study reveals critical insights for AFL investors. The rising demand for supplemental insurance, with 93% of employees viewing it as essential (an all-time high), signals strong growth potential for Aflac's core business. The data showing 62% of workers would take a pay cut for better benefits (up from 53%) indicates a robust market environment.

The report identifies significant opportunities in the Hispanic market segment, where stress levels and insurance needs are notably higher. This demographic shows stronger interest in supplemental coverage for family illnesses (73% vs 58% for non-Hispanics), representing an untapped growth avenue. The finding that 51% of employees cannot afford $1,000 in unexpected medical expenses strengthens the case for Aflac's supplemental insurance products.

14th annual Aflac WorkForces Report uncovers very high levels of burnout are nearly twice as likely among U.S. Hispanic employees than non-Hispanics

COLUMBUS, Ga., Nov. 12, 2024 /PRNewswire/ -- American employers and employees are facing a conundrum: heightened levels of workplace stress and burnout. This concern is exacerbated by ongoing rising costs of health care, financial vulnerability and looming worry about the future of their families, according to the 14th annual Aflac WorkForces Report1 released by Aflac Incorporated, a leading provider of supplemental health insurance and products in the U.S. The report has been tracking for more than a decade the state of the American workplace among employees and employers — capturing trends, attitudes, needs and experiences in health care and benefits administration.

The State of the U.S. Hispanic Workforce: Workplace Burnout Conundrum

Aflac study reveals high levels of burnout are nearly twice as likely among U.S. Hispanics than non-Hispanics.

Workplace stress and burnout intensify

The Aflac WorkForces Report uncovers that burnout is affecting nearly 3 in 5 American workers — with a notable generational gap. Far more millennials, ages 28-43 (66%) are facing moderate to high burnout, compared to Gen X, ages 44-59 (55%) and baby boomers, ages 60-78 (39%). The study also finds that employees experiencing high levels of stress is now up to 38% in 2024 — from 33% in 2023. U.S. Hispanic workers reported a greater degree of workplace stress: 46% high/very high, compared to 37% in 2023. Feelings of very high levels of burnout among U.S. Hispanic employees are nearly twice as likely as non-Hispanics.

Heavy workloads (32%) followed by long work hours (27%) are top contributors to workplace stress. More severe implications of stress have slightly increased, including post-traumatic stress (12%, compared to 7% in 2023) and eating disorders (9%, compared to 6% in 2023).

"In an ever-changing ecosystem, the results of the Aflac WorkForces Report reinforce the importance of employers doubling down on their understanding of what drives stress and potential signs of burnout among their employees. With a keen grasp of the pain points, employers can proactively develop programs and put measures in place to ensure employees feel supported both on and off the clock," said Jeri Hawthorne, senior vice president and Chief Human Resources Officer, Aflac Incorporated.

Counterproductive behavior poses new challenges for employers

According to the report, among all employees across all workplace models, 50% admitted to at least one counterproductive behavior that represents a "quiet quitting" approach to work. These actions include:

  • Not doing everything required in job descriptions: 14% remote; 15% hybrid; 8% on-site.
  • Taking on secondary work without permission from employers: 22% remote; 14% hybrid; 11% on-site.

"Understanding performance dynamics of all workplace models is crucial for employers as they try to create work environments that will satisfy their employees and keep productivity at peak levels," said Hawthorne. "At the same time, employees may need to understand that decreases in productivity will signal to employers that their current model, whether on-site, remote or hybrid, is not working and they will likely consider changes."

Financial vulnerability fueled by anxiety, looming worry

American workers who have experienced some anxiety when thinking about the impact of an unexpected serious medical condition is on the rise: 70% this year compared to 60% in 2023. This heightened anxiety is fueled by family history, worrying about the future of their families and ongoing feelings of financial instability and vulnerability. For instance, the report uncovered more than half (51%) of all employees cannot afford $1,000 of unexpected medical expenses. In comparison, U.S. Hispanic (58%) and African American (59%) employees reported experiencing more financial instability if faced with an unexpected medical bill of $1,000. Nearly two-thirds (64%) of employees said they cannot go more than one month without a paycheck.

The report also revealed that most employees do not understand the costs associated with a serious medical diagnosis such as cancer. More than three-quarters (76%) of employees think out-of-pocket costs in the 12 months following a cancer diagnosis would be less than $2,000, when, in reality, the National Cancer Institute2 estimates the total cost to be an eye-opening $40,000 or more.

The youngest generation of workers, Gen Z, ages 18 to 27, continues to be the most financially vulnerable, with 61% unable to afford a $1,000 medical bill — although the report shows improvement year over year (72% in 2023).

Looking for a lifeline

With ongoing feelings of financial fragility — and stress and worry about the rising costs of health care — both employers and employees are eager for solutions, noting supplemental insurance as a viable step to help toward financial stability and added peace of mind. Benefits continue to be critical to employee retention, in part because employees consider benefits packages to be important to their physical, financial and mental well-being. In fact, in 2024, the importance of benefits to overall loyalty, workplace engagement and willingness to refer a friend to their organization reached an all-time high.

The study found a growing number of employees would consider leaving their jobs for better benefits, even if it meant taking a pay cut (62%, compared to 53% in 2023). Additionally, supplemental benefits stand out as an important part of a comprehensive benefits package, with most employees seeing an increasing need for supplemental insurance: 93%, compared to 89% in 2023 — the highest number in 14 years of Aflac WorkForces Report survey data.

"When 93% of all American employees agree that supplemental insurance helps provide them with financial security, an all-time high, benefits providers should take note. Supplemental insurance can help anchor financial stability and provide added peace of mind. It can be an essential tool to help mitigate fear of unexpected medical events," said Hawthorne. "When employees' stress and worries ease, employers may see a boost in retention, productivity and overall satisfaction."

U.S. Hispanic employees eager for benefits that address family illnesses and family history

In the survey, U.S. Hispanic employees expressed a strong interest in supplemental insurance that addresses illnesses that run in their families (73%, compared to 58% non-Hispanics) and are more likely to say their family history plays a key role in their health insurance decisions (65%, compared to 48% non-Hispanics).

U.S. Hispanic employees' overall work experience and satisfaction are influenced by benefits options more often than non-Hispanic employees: productivity (75% vs. 61%); workplace engagement (70% vs. 57%); mental and emotional health (80% vs. 70%); job satisfaction (74% vs. 69%); loyalty (71% vs. 61%); decision to leave employer (63% vs. 50%); willingness to refer a friend (68% vs. 54%).

A sense of purpose drives well-being

The study shows employees benefit significantly from participating in employers' corporate social responsibility (CSR) efforts, with 91% reporting it has a positive impact on their well-being — yet 1 in 4 employees say they don't know about their employers' CSR initiatives. Hispanic workers expressed a higher level of interest in an organization's CSR policy: 65% vs. 47% of non-Hispanics feel it is important/critical. Employers can help improve employee well-being and create more engagement and participation by increasing internal communication and external storytelling efforts.

CSR efforts also can boost employee recruitment and retention, as 77% of employees said employers' CSR initiatives matter when making an employment decision — and 71% of employees indicated they currently participate in or are interested in participating in CSR initiatives.

The 2024-2025 Aflac WorkForces Report highlights the vital role of comprehensive benefits in employees' well-being, satisfaction, resilience and retention. Additional survey findings, an infographic, trends and more can be found in the 2024-2025 Aflac WorkForces Report at Aflac.com/AWR.

ABOUT THE 2024-2025 AFLAC WORKFORCES REPORT
The 2024-2025 Aflac WorkForces Report, conducted by Kantar on behalf of Aflac, is the 14th annual study examining benefits trends, attitudes and use of employee benefits in the U.S. workforce in various industries and business sizes. The employee survey took place online June 6-July 10, 2024, and the employer survey took place online June 6-21, 2024. Throughout this report, some percentages may not add up to 100% due to rounding of some responses. The surveys captured responses from 1,003 employers and 2,000 employees across the United States. For more information, visit Aflac.com/AWR.

ABOUT AFLAC INCORPORATED
Aflac Incorporated (NYSE: AFL), a Fortune 500 company, has helped provide financial protection and peace of mind for nearly seven decades to millions of policyholders and customers through its subsidiaries in the U.S. and Japan. In the U.S., Aflac is the No. 1 provider of supplemental health insurance products.3 In Japan, Aflac Life Insurance Japan is the leading provider of cancer and medical insurance in terms of policies in force. The company takes pride in being there for its policyholders when they need us most, as well as being included in the World's Most Ethical Companies by Ethisphere for 18 consecutive years (2024), Fortune's World's Most Admired Companies for 23 years (2024) and Bloomberg's Gender-Equality Index for the fourth consecutive year (2023). In addition, the company became a signatory of the Principles for Responsible Investment (PRI) in 2021 and has been included in the Dow Jones Sustainability North America Index (2023) for 10 years. To find out how to get help with expenses health insurance doesn't cover, get to know us at aflac.com or aflac.com/espanol. Investors may learn more about Aflac Incorporated and its commitment to corporate social responsibility and sustainability at investors.aflac.com under "Sustainability."

(PRNewsfoto/Aflac)

Media contact: Jon Sullivan, 706.573.7610 or jsullivan@aflac.com

Analyst and investor contact: David A. Young, 706.596.3264 or dyoung@aflac.com

1 Aflac.com/AWR 
2 National Cancer Institute's Financial Burden of Cancer Care/Cancer Trends Progress Report
3 LIMRA 2023 US Supplemental Health Insurance Total Market Report.

 

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SOURCE Aflac

FAQ

What percentage of American workers are affected by burnout according to Aflac's 2024 report?

According to Aflac's (AFL) 2024 WorkForces Report, nearly 3 in 5 American workers (approximately 60%) are affected by burnout, with millennials showing the highest rate at 66%.

How many employees would leave their job for better benefits in 2024 according to Aflac?

According to Aflac's (AFL) 2024 report, 62% of employees would consider leaving their jobs for better benefits even if it meant taking a pay cut, up from 53% in 2023.

What percentage of employees cannot afford unexpected medical expenses in 2024?

According to Aflac's (AFL) 2024 WorkForces Report, 51% of all employees cannot afford $1,000 of unexpected medical expenses, with higher percentages among Hispanic (58%) and African American (59%) employees.

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