Nearly 40 per cent of Canadian employees are dealing with burnout, costing companies with 500 employees about $3.4 million a year, according to a

new survey by Canada Life. On top of the burnout, only 42 per cent of employees with a mental health diagnosis disclose it to their employer out of fear it might hurt their career, the survey said.

“This year’s findings underscore the urgent need for Canadian workplaces to move beyond awareness and into action,” Michael Cooper, vice-president of Mental Health Research Canada (MHRC), said in a release. “With nearly 40 per cent of employees reporting burnout and over half facing mental health challenges that affect their work, the cost of inaction is too high.”

Only 36 per cent of employees said their workplace offers programs to prevent burnout, Canada Life said, so there is a real opportunity for companies to save some money with some upfront spending on mental health supports.

The insurer predicts burnout prevention measures can save companies with at least 500 employees an estimated $1.7 million per year, effectively cutting their related costs in half.

“Burnout is not just a personal issue; it’s a workplace issue with a price tag,” said Mary Ann Baynton, director of collaboration and strategy at Canada Life’s Workplace Strategies for Mental Health. “When organizations invest in prevention, they don’t just protect their people; they protect their bottom line.”

The survey echoes a similar report by Robert Half Canada Inc. in March, which said 47 per cent of respondents felt burned out, compared to 42 per cent in 2024 and 33 per cent in 2023.

Those in the legal and HR professions, working parents and millennials were most likely to report burnout, the Robert Half survey said. At the time, respondents highlighted long hours, high-stress work, an insufficient work-life balance and few opportunities for growth as contributing factors.

“When employees are burned out due to heavy workloads and understaffed teams, businesses risk decreased productivity and morale, losing valued team members and revenue loss due to falling behind on key timelines for critical projects,” Koula Vasilopoulos, senior managing director of Robert Half, said in a release.

Canada Life recommends training company leaders to recognize signs of burnout among employees, promote a healthy work-life balance and provide evidence-based mental health supports that help employees feel comfortable speaking up.

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Canada’s export numbers are going south, according to the latest trade data.

The country’s deficit on trade goods reached $6.3 billion in August, nearly double from July. Economists had predicted a deficit of only $5.6 billion.

“The recovery in Canadian trade from Q2’s weakness was never going to be a straight line, and August saw a curve in the wrong direction with the trade deficit widening by more than expected,” Andrew Grantham, an economist at CIBC Capital Markets, said in a note.

The deficit has some economists wondering if Canada’s GDP for August could contract.

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Read more here.  There’s an old saying that compares life to a roll of toilet paper, in that the closer you get to the end, the faster it spins. This mindset has some looking to stop deferring joy and get to the good part of life while there’s still lots of paper on the roll. Focusing on goals-based investing and risk management can lead to better outcomes both financially and professionally,

Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@postmedia.com with your contact info and the gist of your problem and we’ll find some experts to help you out while writing a Family Finance story about it (we’ll keep your name out of it, of course).

McLister on mortgages

writes Martin Pelletier. Want to learn more about mortgages? Mortgage strategist Robert McLister’s

Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his

Financial Post on YouTube

mortgage rate page for Canada’s lowest national mortgage rates, updated daily. Visit the Financial Post’s YouTube channel for interviews with Canada’s leading experts in business, economics, housing, the energy sector and more.

Today’s Posthaste was written by Ben Cousins, with additional reporting from Financial Post staff, Canadian Press and Bloomberg.

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