Work-related stress costs the UK economy between £21.6 billion and £57.4 billion per year.
Stress can develop in any job, even if you love what you do. With deadlines, busy periods and big projects being a part of normal working life, the workplace can be especially prone to stressful situations. A build-up of stress can have negative consequences for employees ranging from fatigue to a lack of motivation and anxiety.
Stress not only takes a toll on employees, but it can also negatively impact your business. Even if you think you have the right support systems in place, things like overworking, staff shortages, lack of signposting for support and a lack of manager and leadership training can have a detrimental effect on one’s stress levels.
Employers need to create a working environment that inspires employees to work hard and enjoy coming to work every day by improving mental health at work. They also need to focus on counteracting sources of stress and giving employees a chance to feel motivated and re-energised. And while it may seem like a huge task, it’s necessary to protect the output, reputation and revenue of your business.
What causes workplace stress?
One of the most common causes are lots of deadlines and big projects. However, many instances of work-related stress can be caused by you. Yes, the employer. How you uphold and create your company culture and ricochet throughout your business and contribute to:
• Unsafe working conditions
• A toxic working culture
• A place of poor reputation to work (or buy from)
• Unsustainable ways of working
• Health concerns
• Breaking the law
The latter part is of particular importance alongside the wellbeing of your people. As a business, you must comply with health and safety regulations, as well as the Equality Act 2010 among others. If work-related stress is not mitigated to the best your ability, then the chance of litigation increases.
• Too much (or too little) to do
• A lack of progression opportunities
• Poor working conditions
• A lack of control
• No support in the face of unfair treatment and/or bullying
• No opportunity for training and development
• Low or no trust in their manager or business as a whole
What if stress is caused outside of work?
Then you still have a duty of care to safeguard them in work. We all have different tolerances and resilience levels towards stress, and when significant life events happen such as moving house, divorces or a bereavement, the employee needs to feel as though they can talk about it and get support in order to work at their usual capacity.
Work-related stress and its consequences on businesses
When someone experiences work-related stress over a prolonged period of time, it can take a huge toll on the body and mind. It impacts businesses due to:
• Presenteeism (being at work whilst feeling unwell)
• Increased absence rates
• Poor productivity
• Lack of engagement
• Neglection of self-care
• Irritability
• The employee not being their usual self
• Isolation and withdrawal
Work-related stress majorly increases absences – which can be a huge cost to the business. In some cases, this may lead to long-term sickness, especially if the employee has experienced stress for a long period of time without intervention or has a condition that makes them prone to stress. In fact, in 2022/23, there were an estimated 875,000 workers suffering from work-related stress, depression or anxiety, resulting in 17.1 million working days lost.