November 3, 2023
In today's fast-paced corporate landscape, the allure of cutting costs and limiting resources can be enticing. However, this approach often comes at its own hidden cost, jeopardizing the very thing you tried to reduce. Continue reading to discover the consequences of neglecting key resources, from poor performance to high levels of absenteeism.
A workplace stripped of resources becomes a breeding ground for poor productivity. When employees lack the tools, technology, and training they need to excel, projects drag on endlessly and deadlines slip through the cracks. As a result, team morale crashes and your organization's overall performance decreases, leading to missed opportunities and lost revenue.
Speaking of morale, employees that are overwhelmed by inadequate support are more likely to call in sick or take time off, likely due to burnout. This absenteeism not only disrupts the company workflow, but can also create a financial burden as you scramble to cover the gaps.
Aside from taking time off work, unhappy employees are more likely to leave for good. A lack of essential resources creates an environment where employees feel unsupported and undervalued. This in turn leads to increased turnover rates, leaving HR Managers and team leaders with the costly and time-consuming process of recruiting and training new hires.
The overarching theme of all of these consequences: stress. Employees forced to constantly do more with less often experience chronic stress and anxiety. This not only affects individual well-being but also productivity. A high-stress work environment can lead to absenteeism, decreased job satisfaction, and an unhappy workforce.
The consequences of a workplace devoid of essential resources and support are undeniable, decreasing performance and retention, while increasing absenteeism, stress, and ultimately costs. In short, prioritizing the well-being of your workforce results in the long-term success of your company.
Discover how you can empower and support your workforce to build resilience to stress, increase performance, and improve overall well-being in ‘Part 2: Solutions’.