It’s been over five decades since the Holmes-Rahe stress scale recognized the impact of life events on a person’s stress level, and the correlation with physical wellness and well-being. Although more recent research has refined the original stress index, it remains uncontroversial that navigating a life event affects every pillar of a person’s well-being (physical, emotional, social, financial, etc.). Major life events can include crises such as bereavement, divorce or separation, or illness; they can also include happier (but still taxing) events such as marriage or welcoming a new family member. Regardless of the type, major life events can be stressful, time-consuming, and overwhelming to the point where people feel as though their lives are spiraling out of control.
However, new research now also shows that these major life events not only have a significant impact on the individual themselves but, in the corporate world, can also have a significant negative economic impact on your business and cause a heavy toll of emotional, physical, and financial disruption for employees.
The report from Southern California actuarial firm Santa Barbara Actuaries (SBA) in conjunction with ApiaryLife was based on the premise that employee well-being and happiness at work is largely determined by the state of their home and family relationships. In analyzing this hypothesis, they studied the impact of employee “life change events” in a quest to discover what impact such events might have on employee productivity, engagement, and retention at work.
The report’s findings—based on a survey of over 500 employees, accompanied by a detailed analysis of literature in the sphere—confirmed that a significant burden of emotional, practical, and financial disruption is imposed by life change events not only on the employees who experience them but, on their employers, alike. Of the respondents, a remarkable two-thirds reported experiencing a significant life change event in the previous two years. Furthermore, 51% reported that, because of the life event in question, their ability to thrive at work was affected by at least 25%. Fascinatingly, respondents also overwhelmingly (at over 80%) expressed the need for support from their employer during these life and caregiving events.
Life change events often bring with them a heavy burden of “life admin”—whether as an executor to an estate, tackling a serious illness, or navigating the complexities of a divorce or separation. What is less researched and understood is that life change events often also bring about emotional distress, including feelings of grief, stress, and anxiety. As much as somebody may try to keep their work life and personal life separate, it’s understandable that major life events can affect an employee’s productivity, decision-making abilities, attendance, and morale. Therefore, whereas there may previously have been a reluctance to discuss these often deeply personal and private matters in the workplace, there is a growing realization that to have a happy and productive workforce, employees’ family and home lives cannot be forgotten.
So, how can employers provide employees with appropriate support to overcome significant family and life events and maintain emotional (and physical) wellness to help them remain engaged at work?
Research consistently demonstrates the significant disruption and cost (financial, emotional, social and even physical) inflicted by life events on employers and employees. Employer-provided support for affected employees can have positive benefits all-round. It is therefore imperative that we don’t just pay lip service to caring for employees’ well-being but take action to provide solutions to their problems. Taking a holistic approach is vital for a workforce to thrive.
Emily Foy is the Director of UK & European Operations at ApiaryLife. Learn more about Emily’s work at www.apiary.life.
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