The Great Reconnection: A paradigmatic moment for employers and employees

This year has not been a good one for employee retention. The Great Resignation, originally thought to be a US phenomenon, has emerged in Asia now. But is there a way to turn it into the Great Reconnection? 

- Larisa Beckhouse

Stress, burnout, churn, disengagement: these are the widely recognised issues that continue to plague the world of work. In our latest Cigna 360 Global Well-Being Survey, we found a major challenge for employers: high numbers of workers expressed dissatisfaction with their current job and/or are actively looking for a new one, with 30% of 4,000 Asia Pacific (APAC) respondents (in mainland China, Hong Kong, India, and Singapore) having moved to a new job in the last year and close to four in 10 (37%) looking to change in the next twelve months. The region’s highest resignation rate was seen in India (43%).

However, the long-term picture is more hopeful than a first glance might suggest, as the survey findings also point the way to achievable approaches and solutions that can address employee needs and build harmonious work cultures in 2023 and beyond. Here are a few of the key insights for employers which emerged from our study.

Recognise stress and exhaustion

Stress levels in APAC remain significantly higher than the (already high) global average, mainly due to the cost-of-living crisis and uncertainty about the future. Close to nine in 10 (87%) APAC respondents are stressed, with 13% struggling to cope. The younger generation are bearing the brunt, with an astonishing

94% of respondents from Gen Z (aged 18-24) saying they are stressed. This age group is also the most emotionally impacted by stress – with half (50%) saying they could not concentrate, 47% feeling depressed, and 45% reporting that stress is making them more emotional.