Finance & Markets
FINANCE AND BEHAVIOUR
being unemployed, becoming bankrupt, and having a large mortgage. Yet the peak levels of distress we observed around midlife still held, irrespective of differences in all these demographic and socioeconomic factors. Other possible explanations for the paradox we observed could be that, at midlife, people start to ponder on what they have achieved in their life and struggle with unmet expectations, or that they are struggling to come to terms with ageing or their mortality. An earlier study on a sample of great apes, however, observed a similar change in mood in around the middle of their life, highlighting the possibility that the midlife crisis could simply be a natural phenomenon. The findings challenge some of the basic assumptions that have guided and still guide the work of many policymakers, businesses, and employers in affluent countries. “Supporting employees in their midlife also has notable business advantages” For instance, we previously assumed that young students, graduates, and inexperienced employees were more likely to feel overwhelmed in the workplace or experience mental distress than older workers, yet the opposite appears to be true. Being mindful about the issues that employees in their 40s and 50s
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might be experiencing and offering adequate support is thus of crucial importance. This could entail providing employees in their midlife more time off as well as personal mentors, so that they feel supported and able to share any difficulties they might be experiencing inside or outside the workplace. Mentors could also help to ensure that employees are psychologically ready to take on senior roles that involve greater stress and responsibilities, potentially implementing changes in their workload to reduce their stress levels. Supporting employees in their midlife could also mean offering them more days off from work, flexible working options, and other incentives designed to improve their wellbeing. Research in the social sciences shows a positive link between human happiness and human performance, so that when workers are happier, their productivity
tends to improve. Thus, adequately supporting employees in their midlife also has notable business advantages, in addition to boosting their psychological wellbeing. Overall, our study unveiled showing that people experience a midlife crisis irrespective of their economic prosperity and personal circumstances. While we are yet to identify the reasons underpinning this paradox, a troubling social paradox within some of the richest countries around the world, being aware of its presence is perhaps an important first step for political and organisational leaders in modern society.
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