090: Broker Mental Health in 2022 with Adrian Saunders - Ecclesiastical
What can colleagues do to support one another’s mental wellbeing? Are broking businesses’ mental health provisions somehow missing the mark? Last year, we released an episode featuring Ecclesiastical Insurance’s Adrian Saunders, in which he explained the results of the firm’s annual broker wellbeing survey. In this episode, Adrian returns to discuss the results of 2022’s survey, in conversation with Boston Tullis’ Sarah Myerscough! He examines the trends that have emerged through the data across the past five years of Ecclesiastical’s survey, and their implications for mental wellbeing provisions in brokerages across the country. Quote of the Episode “We're all talking about mental wellbeing more. We're all providing more support; there is more openness. We recognise it more. And the survey says we recognise it more. But the survey [also] says we're all getting more stressed. Why are we increasingly reluctant to talk about it?” This highlights a significant apparent contradiction in the survey results which Adrian picks up on throughout the episode. Despite huge strides in discussions of mental wellbeing in the workplace, and increased availability of resources and support, the reported level of stress amongst brokers is skyrocketing. Is the stress of the various socioeconomic calamities of recent years simply overriding these avenues for discussion and support? Or could these provisions be improved to some degree? Key Takeaways The results of Ecclesiastical’s annual broker wellbeing survey are characterised by this central contradiction – while mental health support in the workplace has never been better, brokers are feeling more anxious and stressed than ever before. The top three causes of this stress, according to the data, are: Workload – this is arguably driven by the sense of uncertainty that accompanies engaging with clients, who require advice and support in making decisions about what to insure, and on which level. Regulation – broking is a regulated sector, governed by a set of strict guidelines that must be abided by. The survey results indicate that the demands of regulators have increased, as evidenced by the introduction of the new Consumer Duty which lies on the horizon in 2023. Customer demand. Sitting just outside this top three is staff shortages, a rising problem in the insurance sector and industry across the country. Problems with recruitment and retention undoubtedly feed into increased workloads and thus a rising difficulty in meeting the demands of customers to a sufficient degree. Nonetheless, brokers have reported that they feel more supported in the workplace, with the survey results indicating a generally improved attitude to mental health awareness at work and increased commitment to employees’ wellbeing. Yet, simultaneously, for the fourth year in a row the likelihood of brokers reporting when they are feeling stressed or low at work has decreased. Ostensibly, there is a greater culture of openness and support in the workplace, perhaps more so than ever before. Yet, brokers generally don’t feel able or willing to talk about their own wellbeing. The specific reason for this is difficult to determine. It could perhaps be attributed to the hierarchical nature of certain work relationships, which may raise a barrier preventing staff from showing vulnerability. Adrian also suggests, regarding the increased awareness of mental health at work, that an oversaturation of such material may have emerged, leading it to become somewhat generalised, and part of the wider noise and hubbub of the office. As such, businesses should reflect on what they are doing to support teams and colleagues, and perhaps consider how their wellbeing measures could become more personalised to cater to the unique, individual needs of staff. Best Moments/Key Quotes “What we really see is that stress and anxiety with brokers has continued to rise. We've seen four consecutive years of stress and anxiety being reporte