How would you rate your happiness at work? If you don't feel like you're "thriving," you certainly aren't alone.
Gallup's latest State of the Global Workplace report reveals that only 1 in 5 workers globally say they're truly engaged in their jobs.
Work wellbeing -- or how employees feel at work -- is a critical factor for job seekers when deciding where to work, and plays a significant role for employers hoping to attract, hire and retain top talent.
This stagnation, combined with declining morale, means the majority of today's workforce is struggling -- not just at work, but in their personal lives as well. The effects are clear: when employees are disengaged and unhappy, productivity takes a hit, affecting organizations across the globe.
"Research consistently shows that how we feel at work matters. It deeply impacts our general wellbeing as well as company financial performance," Jan-Emmanuel De Neve, Director of the Wellbeing Research Centre at the University of Oxford, said in a statement.
Oxford researchers have previously identified a strong correlation in work wellbeing data: higher employee wellbeing is linked to improved company valuation, stronger returns on assets and greater profitability. These findings highlight that employee satisfaction can be a key predictor of a company's business performance and financial success.
"While work wellbeing has faced challenges in recent years, it's more important than ever for companies to create environments where employees can truly thrive," LaFawn Davis, Indeed's Chief People and Sustainability Officer, said in a statement. "By prioritizing work wellbeing, companies cultivate a more resilient, effective and happier workforce which ultimately drives business growth."
The lack of improvement in employee engagement and wellbeing is notable, as it follows multiple years of steady gains, according to Gallup.
The data shows the U.S. and Canada have the highest regional percentage of engaged employees at 33%, compared to the global average of 23%, with women in the region experiencing higher engagement (35%) than men (31%).
Gallup estimates that low engagement costs the global economy $8.9 trillion, or 9% of global gross domestic product — enough to make the difference between success and failure for the world's development goals.