Strain and drain: the hidden cost of employee stress on business

The hidden costs of employee stress on your business

Everyone knows that too much stress is bad for you. But, did you know that it’s also bad for business? Stress can negatively impact workforce productivity and dramatically impact the cost of doing business.

Adding stress to your bottom line

Workforce stress increases absenteeism, employee turnover, loss of productivity and health care costs, adding up to an alarmingly large hit to your bottom line. In fact, research shows more employees are absent from work because of stress and anxiety than because of physical illness, injury or chronic conditions such as diabetes, asthma, and arthritis. Just look at the cost of stress on businesses in the U.S. and U.K.

US: $300 Billion*     UK: $52 Billion*

U.S. GDP 21.06 trillion in April 2019

U.S. population of 329.6 million

UK GDP 634,227.00 USD million

UK population of 66 million

*Figures correct at time of publishing: September 2019

And the top workplace stressors are …

So, what’s causing this epidemic of workplace stress? There are no surprises here. Like all of us, your employees face multiple personal and business challenges, but here are some of the top reasons they may be feeling stressed.

• Low salaries
• Lack of opportunity for growth and advancement
• Too heavy a workload
• Unrealistic job expectations
• Long hours
• Aggressive management style

Added pressure from abroad

While stress is not unique to the expat community, being a stranger in a strange land can bring on additional challenges. A recent survey found that, in addition to the workplace stressors above, expats identify additional pressure points.

• 62.8% Challenges of a new job
• 44.6% Inability to take part in activities available at home
• 42.8% Loss of a support network
• 40.7% Language and other cultural difficulties
• 37.9% Worker’s spouse being unable to find work

Protecting your most valuable asset

It’s clear that addressing workforce stress is good for business. Turning the tide on chronic employee stress results in happier, more engaged employees with improved focus. The result for your business will likely be greater productivity and a better bottom line. Having a clearly defined employee health and wellness strategy also encourages other beneficial business outcomes.

• Better communications
• Greater customer satisfaction
• Reduced employee illness
• Reduced absenteeism
• Reduced presenteeism
• Lower burnout and turnover

Promoting wellness in your workplace

With clear benefits to reducing workplace stressors, it’s easy to see why organisations are focussing on well-being programmes and benefits for employees, promoting self-care, helping employees develop their resilience and working towards becoming healthier, happier, more productive individuals.

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