Industry

Leaders Need to Reduce Burn AND Burnout

Andrew Hull

The Invisible leadership team just returned from one of the largest tech conferences in the world: Collision 2022. After networking and learning with business leaders, we’re eager to share a pattern that we heard on the ground. 

So, what do we already know?

For years, a steady heartbeat of VC fundraising allowed tech companies to enjoy explosive growth. Conversations at Collision corroborated recent reports that the current fundraising landscape is much more difficult as investment slows. 

Credit: Crunchbase

What becomes essential to win in this environment?

When we talked to business leaders there about navigating this environment, one message about what Invisible offers struck a chord: we help you reduce burn and burnout

To confirm that this is a priority for decision-makers, we asked hundreds of them in a survey we ran this week. Here’s what we found out. 

Let’s start with burn rate. 

74% of business leaders told us that they worry about cash burn at their organization. 

Concern is turning into action in these leaders’ businesses. Here are the cuts that decision makers said they have had to make in the last 6 months for financial reasons: 

  • 54% are unable to increase headcount on their team 
  • 40% have postponed and/or canceled projects
  • 37% have postponed and/or halted hiring
  • 33% have postponed compensation increases
  • 20% have laid off employees
  • 16% have cut benefits. 

Overall, over 45% of business leaders reported feeling worried about raising a next round of funding. But investment drying up isn’t the only concern on these leaders’ minds. 

Retaining talent is, too. 

According to a recent report by strategic advisory firm Pearl Meyer, rising inflation and a hot labor market have driven up annual salary increases in the US to 4.8%, the highest average pay increase in decades. 82% of business leaders told us that the need to increase salaries to compensate for inflation and to keep talent is a concern for them.  

Now on to burnout. 

Employee burnout is a major concern for business leaders, with 78% saying they are worried about it.

Many factors contribute to employee burnout. Especially in companies that have experienced recent layoffs and hiring freezes, employees are weathering increased workloads and mounting pressure. 

How are managers combating burnout in the workplace? 

  • 51% provided mental health resources
  • 39% have cut high-intensity projects
  • 48% defined pathways for employee growth
  • 41% offered pay-raises and/or bonuses

Here are some of the powerful responses we heard when we asked respondents to give an open-ended answer to the one thing they wish they could off their team: 

  • “More money”
  • “More time off” 
  • “Better support”
  • “More flexible hours” 
  • “Peace of mind” 
  • “Stability” 

Whether they’re forced to due to market conditions or do so by choice, businesses are increasingly operating lean. Unfortunately, this can raise the pressure on employees. 

Thankfully, you can operate lean and not burn out your team. You can even grow. 

How? One way is Invisible!

We specialize in reducing burn and burnout for organizations with our flexible workforce and automation expertise. No need to increase costs or headcount. 

We helped one of our clients, a real estate startup, save valuable hours of manual work and helped scale their business at the same time. Read more about it here.

What's next?

If you’re looking to reduce burn and burnout at your business, Invisible is ready to help. Get started here and someone on our dedicated accounts team will get in touch with you. 

These other solutions might also reduce burn, burnout, or both. 

  • Pareto - takes on manual, repetitive tasks like data operations
  • Clay - automates lead-gen and outbound 
  • TaskUs - deploys humans to tackle processes
  • Tonkean - streamline and/or automate complex workflows 

Work smart, move fast, and focus on what matters most - with Invisible.

Schedule a call to learn more about how Invisible might help your business grow while navigating uncertainty.

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