2023 BUSINESS GENEROSITY REPORT:
Burnout’s Toll and
Over the last five years, goBeyondProfit and Georgia CEO have captured research insights into business generosity in Georgia through concurrent surveys of employed adults and executives running businesses. This year, executive respondents shared concerns about continued labor shortages as well as recessionary and inflation risks. As the business landscape continues to change, the role of business generosity has also evolved.
This report offers data-driven guidance on how the priorities of employees in Georgia have shifted. We explore the undercurrent of eroding employee wellness and unveil the latest ways generosity efforts can improve both the everyday workplace experience and the long-term positive impact of Georgia businesses on people and communities. We are pleased to bring you the 2023 goBeyondProfit Business Generosity Report.
Summary of Findings:
In today’s polarized environment, employed adults in Georgia agree on the importance of generosity in business. The overall number of employees who find generosity important has steadily increased since our inaugural report in 2019, with the largest increases in those employees who believe generosity is very or extremely important (47% in 2019 vs. 75% in 2023). The data confirms that employees are paying attention to how you execute your generosity commitments.
Executives see positive correlations between generosity and key business success measures. Yet, for the first time in this report’s history, executive investment in generosity efforts shows signs of slowing. Overall, our data indicates that business generosity may not be a wise place for budgetary cuts. [Explore further]
This year’s surveys revealed shocking levels of employee and executive burnout. It turns out that burnout is a pervasive and cross-generational problem affecting all levels and all sizes of companies. Additionally, the data explains the critical importance of word choice when checking in on employee mental health and offers low-cost solutions to the burnout dilemma. [Explore further]
For a second year, employee respondents prioritized mental health support as a top three employer generosity request. goBeyondProfit has produced an interview series with a workplace mental health expert to help executives meet this need. [See the Expert Interview Series: Reducing Burnout at Work]
When given a list of ways a company can demonstrate generosity to employees, pay equity ranked as a new top choice (91%). A deep dive into exactly what employees mean by pay equity revealed a widely shared concern that long-standing employees have paid a price for loyalty.
This concern transcends age, race, and gender. Employees coalesced around the definition that new hires make more money than employees who have stayed with the company for years when asked to select their top two definitions. While pay equity disparity among men and women is more important to female employees, new-hire compensation remains the top choice shared equally by men and women. [Explore further]
For the second consecutive year, flexible work remains the top-ranked demonstration of generosity for all respondents and is equally valued by men and women. Most employees define flexible work as the ability to balance work and life demands as they arise without having to take PTO – a definition shared by both men and women.
Additionally, many see flexible work as a modified work week, such as a four-day work week or a schedule with adjusted shifts. Others see flexible work as simply the trust to complete their work. Very few people define flexibility as company-required days in the office and other days at home. [Explore further]
Every year, we ask employed adults how employers can best demonstrate generosity to the community. Financial contributions hold steady in first place. However, sustainability efforts took a significant leap into the top three this year, with 81% of respondents saying it is somewhat or very important.
The report explores how individuals define sustainability efforts and employees’ increased interest in matching gift programs and PTO for volunteering.
Data offers executives clear guidance on reprioritizing spending away from less-valued programs, such as company-sponsored volunteer events. [Explore further]
In our 2021 survey, 91% of employed adults in Georgia said they expected their CEO to express a point of view about sensitive social issues. In this year’s survey, 63% of employed adults selected public statements on social issues as a somewhat or very important demonstration of generosity. While this represents a notable decline in employee sentiment, most employees continue to view public statements as important.
In the current political climate, more than half (54%) of employee respondents named employer political involvement as not very to not at all important. Balancing the distinction between employees’ desire for public statements on social issues and the lack of employee support for political involvement will continue to be a challenge for executives. [Explore further]