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Executive summary- Economic impact of stress in the workplace
This study was done in relation to feedback that was obtained from both the employees and the employers. The purpose of the study was to establish the economic impacts of stress in the workplace and how to deal with them.
The primary sources of data were the employees and employers. Researchers developed questionnaires that they used to collect data. This was done after sampling group of 45 companies from central London. After data collection, the researchers analysed it and came up with their findings.
The results indicated that a significant percentage of workers are often affected by stress in a number of ways. For instance, being aggressive, producing low-quality work due to frequent burnouts, frequent absenteeism, job resignations and unprecedented chronic illnesses. This did not augur well with the firms which in turns experienced loss in revenues. Moreover, most companies affected by this were forced to hire unqualified workers to replace the ones who were affected by stress. These interfered with production.
The study indicated that stress has a huge economic impact in any workplace. These could be seen in key areas such as reduced job satisfaction and low productivity. This required employers and company owners’ to work out measures that can be applied to manage stress. One of these measures is outsourcing counseling programs since the benefits are much more than what companies will invest in this.
First, employers should develop measures to manage stress. Secondly, more studies should be done to establish what causes stress. Third, trainers should incorporate some ways that they can sue to deal with stress in their curriculum. Next, companies should employ counselors and finally, employers should share ideas on how to manage stress.
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