In recent years, businesses have faced unprecedented challenges, from the global pandemic to the phenomenon dubbed the Great Resignation and the subsequent Great Return. Stepping out of the shadows of the pandemic, many of us found our mental health strained — pushing a significant number of employees to seek roles that promise not just better pay but a healthier work-life balance, more flexibility, and a nurturing work environmentAt YuLife, our mission is deeply intertwined with understanding and improving the dynamics of the workplace. That's why we embarked on a research journey with YouGov, exploring the intricacies of employee turnover and its profound effects on both the UK and US job markets. What the data says about employee turnoverOur findings illuminate a truth we've sensed but now can quantify: the underlying issues of stress and rigid work structures that sparked the Great Resignation remain prevalent.Our study paints a telling picture of the current state of work. A striking majority are either stepping into new roles or actively seeking change within the next year.This sentiment is even stronger among the younger workforce, challenging the notion that economic instability would tether them to unsatisfying positions. The situation is similar in South Africa. According to remuneration and HR consultancy 21st Century, rather than resigning because they wanted better pay, 70% of people quitting their jobs in 2022 were looking for a better work-life balance, flexibility, career development, and a healthier culture and leadership.Stress is the root causeThe conversation around workplace satisfaction cannot be had without addressing stress, a pivotal factor for most in the decision to remain or leave a job. According to Gallup's State of the Global Workplace 2023 report, more than a third of workers in South Africa said they had experienced a lot of stress at work. This highlights an urgent need for companies to rethink how they support employee wellbeing, from open communication and comprehensive benefits to flexible working arrangements.Avoiding burnoutThe spectre of burnout looms large, threatening not just those who choose to leave but also those who stay. Recognising and addressing burnout early is crucial and calls for a proactive approach to workload management, communication, and managerial support. Employee Assistance Programmes (EAPs) and a culture that champions work-life balance can serve as potent antidotes to this growing concern.Compensation, too, plays a critical role in job satisfaction, yet our insights suggest that salary bumps alone won't stem the tide of turnover. A holistic approach, offering generous leave policies, flexible schedules, and robust employee benefits, stands as a more effective strategy for nurturing a supportive and loyal workplace environment.In crafting a new narrative for the modern workplace, it's clear that the solutions lie in building a culture of compassion, support, and flexibility. As we at YuLife advocate through our services and community initiatives, the path to a resilient, satisfied workforce is paved with more than just financial incentives. It's about creating environments where employees feel valued, supported, and understood. This journey towards a healthier workplace culture is not just beneficial but essential for sustaining our businesses and our wellbeing in the long run.About YuLife.YuLife is working to reimagine the insurance industry by protecting lives, rewarding living and inspiring life. We’re on a mission to transform traditional insurance into a life-enhancing experience each employee will value and use daily. How does it work? Our award-winning app uses behavioural science and game mechanics to reward your people for living well while offering protection in case of crisis. And with our top-rated employee assistance programme, your team gets access to mental, financial and social support, virtual GPs, nutritionists, life coaches and more to help them live their best lives.Because we believe that your employees should benefit from their insurance from day one — and that wellbeing should be accessible every day, for everyone.Request a demo for your team today.