The Cost of Stress in the Workplace

The cost of stress in the workplace reportedly costs the UK economy a massive £56 billion a year, but what does that mean to your business? In real terms the value is just over 2.2% of GDP in 2022.

It doesn’t sound a lot, but what would 2.2% look like on your bottom line?

If you invest some of that lost revenue into improving the health and happiness of your staff, research demonstrates you could expect a return of £5.30 for each £1 spent.

An Axa Mind Health study finds the majority of lost revenue is due to absence caused by stress, burnout, and general poor mental health. It doesn’t take into account the full impact of presenteeism, absenteeism and the commercial impact of replacing unhappy staff.

Or the mental and emotional strain it puts on business leaders and managers who have to manage a stressed out, burnt out work force!

Here are some of the latest statistics on workplace stress

79% of employees are often stressed at work. A Perkbox survey determined that 79% of all British adults in employment commonly experience work-related stress.

1 in 5 employees call in sick due to stress. Research commissioned by charity Mind found 19% of us take a day off due to stress. But 90% of those people report their absence as something else.

Women are more stressed. The report by HSE highlighted that women had considerably more work-related stress, anxiety and depression.

24% of line managers believe employee wellbeing is not their responsibility A study by professional services firm, Deloitte, revealed that only 76% of line managers believe the wellbeing of their team is their responsibility.

The biggest cause of stress is workload. HSE’s research also revealed that workload is the biggest cause of workplace stress. Higher than bullying, violence and lack of support.

How to improve stress

When we recognise we are feeling stressed, we are able to do something about it, which is the biggest step that we can take to dealing with the stress and improving our health and happiness.

There are two key things you can do that will help reduce stress, distraction and distance they will be different for everyone.

Distraction is doing something that stops you thinking about your stressors. When you are distracted and your brain is not overpowering you with worse case scenarios your body can concentrate on restoring some balance, as cortisol levels drop. These are often referred to as recovery periods.

Cooking, walking, being creative, skydiving, watching football, running, gardening…the list is endless.

Distance is the act of creating space between the stress and yourself. This can be in a number of ways. You can physically remove  yourself from a stressful situation.

Often stress is our head, we become overwhelmed by our thoughts. So when we talk to someone or write down the things that cause us stress, we give it distance. It becomes easier to look at it with perspective.

If you have noticed that stress is affecting your teams contact us here or call 01772 283139, to find out how we can help support your teams health and happiness; increase engagement and productivity.

Check out our other resources to help you manage stress in the workplace.

5 Tips to Reduce Stress in the Workplace

Spot the signs of stress in the workplace