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.
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."
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