Each year, American businesses pay in excess of $300 billion in direct costs related to stress. The American Institute of Stress estimates this is due to a combination of loss of productivity, absenteeism, accidents, employee turnover, worker compensation, medical, legal and insurance costs.
What are the impacts on your organization? One conservative estimate calculates the costs as a sum of the following:
- 19% of your absenteeism cost
- 40% of your staff turnover cost
- 55% of your cost of employee assistance programs or related healthcare/counseling services
- 30% of your short- and long-term disability costs
- 10% of your drug plan costs (psychotherapeutic)
- 60% of your total costs of workplace accidents
- 100% of your workers’ compensation costs
As a manager, you know stress affects some of your employees, but you may not have realized how much of an effect stress can have. For instance, did you know all the following can be signs of workplace stress? According to the CDC, the signs can include:
- Sleep disturbances
- Difficulty in concentrating
- Short temper
- Upset stomach
- Job dissatisfaction
- Low morale
Workplace stress may also be related to the development of many other different medical conditions including: cardiovascular disease, musculoskeletal disorders, psychological disorders, workplace injury, suicide, cancer, ulcers and impaired immune function.
You have the power to make a change! Call Burnout Solutions today and let us help you develop an effective, dynamic strategy. We can help your employees respond better to stress. Together, we can protect your employees from the effects and your organization from the costs of stress and burnout.