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I saw an article float by a couple days back about how the bigger cause of workplace stress is not believing in what you're doing, rather than difficulty/quantity of work... ring any bells? Can't find it now.
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My impression is that most models of job stress/strain tend to focus on a ratio of demands to resources. Difficulty, quantity of work are demands; meaningful work is one form of resources.
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I've always thought meaningful work hinges on other resources. On one hand, meaningful work can be very motivating when it's supported by other resources (time, sleep, expertise, social support, pay, quality leadership), but...
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