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November 09, 2021

Are you working more now than you ever have?

Feel like you're always at work? Well, you're not alone.

AdA recent survey released by Towers Watson found that two thirds of Canadian and U.S. companies admit to  asking their employees to work longer hours. And it's slowly killing them.

"In the short run, having employees work extra hours can increase productivity, but in the long run, extended hours can negatively affect employee well-being and retention," Towers Watson’s Laurie Bienstock told Benefits Canada.  

Overall, 60% of Canadian respondents report that employees have been working more hours over the past three years, and just under half (47%) expect this trend to continue over the next three years.

Additionally, a quarter (25%) of the employers surveyed said their employees have been using less of their vacation or personal time off over the past three years.

"Employees at many organizations are already suffering from change fatigue. As a result, when the labour market does recover, companies can expect a sharp increase in voluntary turnover, especially if they do not address employee concerns, and deliver reward and talent management programs more effectively," Bienstock declares.

The study also found that almost half (48%) of Canadian organizations are concerned about the long-term effects of changes they made during the recession on their employees’ ability to maintain a healthy work/life balance.

Does that sound like anybody you know?

Have you been clocking more hours over the past few years? Do you see any signs of this letting up?

By Gordon Powers, MSN Money




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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...