Even before the global pandemic set in, many Americans—including 401k advisors—were struggling with burnout. The abrupt shift to work-from-home, alongside additional stresses about health and financial well-being, have only served to magnify the pressure points of daily lives.
As advisors—and those who rely upon their expertise—return to their workplaces, those stress points remain and, left unaddressed, could be stumbling blocks both to the success of your practice and your practices.
That’s the issue that Jennifer Moss, globally recognized as an expert in burnout and author of the book, “The Burnout Epidemic,” published by Harvard Business Press, addressed during a Tuesday morning general session at the 2021 National Association of Plan Advisors (NAPA) 401(k) Summit in Las Vegas.
After outlining the six root causes of burnout (overwork, lack of control, insufficient rewards, loneliness, lack of fairness and mismatched skills), and why burnout is so prevalent these days, Moss provided a number of prevention strategies and tactics to manage burnout during times of stress.
The problem is real. It’s no secret that many people have felt particularly disconnected from work this year, with Zoom meeting fatigue, working longer hours and suffering from chronic stress that makes keeping focus difficult and small decisions seem big. There’s a lack of community associated with working from home, and it’s led to a spike in loneliness. Moss cited a finding that 89% of people thought their work life was getting worse, and 85% said their well-being had declined and only 2% rated their well-being as “excellent.”
[totalpoll id=”38871″]
Another notable statistic Moss mentioned? Showers are down 30%, as people are less inclined to take them when they’re working from home. They also admit to often not wearing pants all the time, something that can often be hidden on Zoom calls.
“No showers and no pants—it was a really weird year in the workforce,” Moss said.
So what can be done about burnout?
First, Moss said, identify whether we are suffering from burnout by knowing the signs in yourself and others. In yourself, those include exhaustion, a lack of engagement and cynicism. In others, noticing things like fatigue, withdrawing, increased irritability, more sick or late days, and disengagement.
People who are chronically stressed are less likely to sustain high performance in their jobs, and may need help now to get them back on track.
“How do we manage right now? That is going to be how we end up creating a sustainable way of working,” Moss said.
One method Moss said has shown great effectiveness is conducting weekly check-ins with staff or colleagues. Simply asking questions like, “How was your week?” or “What can we do for each other to make this next week easier?” can help increase psychological fitness.
“Digital detoxing” is another. Taking regular 10-minute breaks, not eating in front of a screen, and setting up a bedtime app are examples of ways to cut back on screen time known to be a contributor to stress, and help people get the rest they badly need.
“We are in a chronic rest deficit right now,” Moss said, adding that people need to spend more time away from digital devices.
To help remote workers, Moss mentioned limiting static Zoom meetings in favor of more audio “walk and talks,” as video calls aren’t always required.
Moss emphasized the importance of connecting with colleagues at work because of how it can reduce burnout and make them feel heard.
“The best thing we can do is actively listen to what that person cares about, and then compliment them on it,” Moss said.
She concluded by advising the NAPA 401(k) Summit audience not to “waste” the pandemic crisis.
“Look at it as the catalyst for intentional future behavior,” she said. “How do we change the next decade of work? The future of work is here – there is no going back.”
MORE FROM THE 2021 NAPA 401(K) SUMMIT:
• Difficult Discussions About 401k Industry Diversity
• ‘Enormous Impact’ of Retirement Legislation Now in Washington
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
