Proceedings of The 6th International Conference on Advanced Research in Management, Business and Finance
Year: 2023
DOI: https://www.doi.org/10.33422/6th.icmbf.2023.06.101
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Empirical Evaluation and Corporate Assessment of Burnout in The Financial Sector
Benedikt Frank
ABSTRACT:
A world that is becoming ever faster, driven by globalisation and digital networking, creates a feeling of being overwhelmed for many people. Especially the financial industries seem to be closely interwoven with a high workload, which can end in burnout. The present work aims to enable a more detailed interpretation of the effects of burnout through data in the financial sector. Using quantitative questionnaires in the form of an online survey, 32 financial institutions provided information, among other things, whether they collect data on the burnout of their employees, what influence they assume it has on their company performance and whether countermeasures are prevalent. A descriptive analysis was used in accordance with the sample size. The results showed that none of the companies surveyed recorded costs concerning burnout illnesses of their personnel but that burnout is perceived as a cost driver. In addition, the banking sector, in particular, seems to have installed appropriate countermeasures. In the future, it would be recommended to install further measures in companies to counteract burnout in the best possible way, as well as to further raise awareness on this topic because a clear recognition and naming of the existing triggers seems to be an element that can be used in the future to initiate concrete countermeasures and prevent an illness in advance.
keywords: financial sector, burnout, economic costs, performance, countermeasures