The Cost Of Not Doing Anything To Improve Employee Wellness and Manage Employee Stress
- $300 Billion is the annual cost of employee stress in the U.S. due to absenteeism, attrition, medical costs, and Workers’ Compensation.1
- Stress also causes decreased productivity, presenteeism (being present at work, but not working to full potential), and increased replacement and retraining costs.2
- It takes 8 months and costs a company 3x one year’s salary to replace an employee.3
- Employees who report being highly stressed are 40% more expensive in medical costs than non-stressed workers.4
- The National Institute of Occupational Health and Safety reported that 40% of workers said their job is “‘very or extremely stressful.’”5
- Nearly two-thirds of all stress cases involving days away from work were for white collar workers.6
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1 American Institute of Stress.
2 See Kahn, J.P.; Langlieb, A.M. (2003). Mental health and productivity in the workplace: A handbook for organizations and clinicians. Jossey-Bass: San Francisco, CA.
3 Shevory, K. The Workplace as Clubhouse. Citing Prof. Jeffrey Pfeiffer, Graduate School of Business at Stanford University. The New York Times, February 16, 2008.
4 Goetzel, R.Z.; Ozminkowski, R.J.; Sederer, L.I.; Mark, T.L. (2002). The business case for quality mental health services: Why employers should care about the mental health and well-being of their employees. Journal of Occupational and Environmental Medicine, 44 (4) 320-330.
5 National Institute for Occupational Safety and Health (1999). Stress at work. Publication 99-101. Cincinnati, OH: NIOSH. Citing Northwestern National Life Insurance Company (1992). Employee burnout: causes and cures. Minneapolis, MN: Northwestern National Life Insurance Company.
6 U.S. Bureau of Labor Statistics (September 1999). Occupational stress.