Workplace stress creates a range of different hazards for the economy, billions of dollars are lost in productivity every year because of employees who are stressed out by work.
This cost includes lost days in absenteeism and presenteeism. In fact, a study from Medibank suggests that the average number of days lost per worker as a result of distressing work conditions is 3.2.
While this might not sound significant, it represents a serious drain on company resources. In fact, these lost hours represent a 1.36 per cent decrease in labour productivity. Given the time-sensitive nature of modern work, this lost productivity is something that companies can ill afford to bear, especially in a competitive market.
Common factors which the study pointed to were excessive work hours and unreasonable performance demands, alongside a work environment that was distracting or risky to work in.
While the Medibank study pointed to the debilitating nature of workplace stress on employees, it also found that some stress in the workplace can be beneficial for workers. While some stress leads to increased performance, it will eventually reaches a tipping point and becomes an impediment for employees.
The report also pointed to the physical manifestations of stress in the workplace, with those suffering from stress experiencing headaches, poor sleep and cardiovascular diseases. These physical symptoms sit alongside mental health issues like depression and anxiety.
If your business is concerned about the rise of stress among staff, make sure you download WorkPro's e-book on the topic. It can help to outline what responsibilities you have as an employer, along with helpful tips to help you avoid stressful conditions in your workplace.