Burnout is the greatest risk facing organisations in 2024 - how to tackle it

A staggering 80% of senior risk professionals predict that burnout will will have a significant impact on employees in 2024.

International SOS’ latest annual risk outlook draws together the insights of experts from the Workforce Resilience Council with a global survey of senior risk management professionals to identify the biggest predicted concerns for businesses in the coming year.

It found that the global perma-crisis will take its toll in 2024, as extreme weather events continue to impact organisations and global instability deepens.

This situation is giving rise to concerning levels of employee burnout. However, just 41% of senior risk professionals feel that their organisations are equipped to deal with the threat.

The research also provides a detailed view of some of the major risks which organisations must address in 2024, including the climate crisis, the power of AI, the evolution of employees’ expectations and worldwide unrest.

What does it mean for businesses?

• Stress and crisis fatigue

The ongoing crisis in Israel and Gaza, as well as the persistent conflict in Ukraine, are creating an unstable global environment. Civil and social unrest, coupled with political instability were also significant concern for organisations.

The report’s findings noted that businesses have already experienced a noticeable surge in stress-related absences.

However, respondents emphasise that the perceived risk level for the next 12 months is the highest ever recorded compounding crisis management fatigue beyond pre-pandemic levels.

“The unpredictable nature of these events highlights the need for businesses to adopt robust security measures”

Sally Llewellyn, global security director, International SOS comments, “Organisations will have many risks to address in 2024, as instability continues to be a key theme of the global security environment.

“The near-continuous pace of crises makes it even more challenging for organisations to navigate. Crisis management teams have been running consistently since COVID, creating a real risk of burnout in this critical function.

“The unpredictable nature of these events highlights the need for businesses to adopt robust security measures, proactively navigating the challenges arising from the dynamic global geopolitical landscape.”

• Health concerns due to climate change

Only half of respondents say they have factored climate change into their health and security plans, emphasising how vulnerable many organisations could be.

This issue is certainly not going away, as approximately three-quarters of businesses report extreme weather as a challenge to their employees and operations in the coming year.

Additionally, as the global weather and climate profile changes in many regions, so does the health risk environment.

“It is crucial for organisations to have plans in place to address the potential rise in novel medical risks.”

Dr Irene Lai, global medical director, International SOS comments, “Many of the extreme weather events we witnessed in 2023 may become commonplace in the year ahead, potentially driving climate anxiety amongst a growing number of employees.

“With rising temperatures comes the increased possibility of disease spread, as the conditions are opportune for mosquito-borne diseases. We have already seen this in some regions, with the appearance of locally transmitted malaria in several U.S. states after two decades.

“The changing transmission pattern of malaria in the African highlands and the trends in vector-borne diseases in Europe pose some significant new challenges for public health officials. Therefore, it is crucial for organisations to have plans in place to address the potential rise in novel medical risks.”

• Artificial intelligence and mis-information

AI has inspiring potential to create a new industrial revolution.

However, for now, it further complicates the vital task of sorting reliable information from misinformation and deliberate disinformation for businesses.

More than two out of five respondents in the ISOS study said they were worried about the effect of medical misinformation and disinformation on their workforces.

This rises to three in five when asked about inaccurate political information – a potentially difficult situation as the United States heads into a highly consequential election year.

How businesses can tackle the threats

Three-quarters of organisations report increased employee expectations for Duty of Care.

A similar number are now also shouldering duties previously seen as government responsibilities, including two-thirds who acknowledge extending responsibilities to support workers’ families in times of need.

This underlines how the era of offering only basic occupational health services for work-related conditions is over.

While still essential, occupational health provisions must be enhanced with diverse support and interventions to safeguard and nurture employees globally.

“The era of offering only basic occupational health services for work-related conditions is over.”

Llewellyn says: “Being proactive regarding risk management will be key as many surveyed expect the risks companies are facing to increase in 2024.

“Partnering with other organisations or experts can help organisations understand which risks – and their second or third order impacts – they are most likely to face based on geographic reach, industry or travel patterns.”

Forewarning enables organisations to proactively plan for or mitigate likely risks. Building resilience within crisis management functions is also important.

Expanding pools of leaders able to step in during crises and empowering them through sound training is critical to ensuring perma-crisis does not derail wider business operations.