In 1992, a well respected Northwestern Life Insurance study reported that 7 in 10 American workers indicated that job stress caused frequent health problems and made workers less productive. Forty-six percent of employees reported their job was very stressful, 34 percent thought of quitting their jobs and 14 percent actually left because of stress.
Expected annual costs of job related stress are $604 dollars per person per year just in increased absenteeism due to stress, while total employer stress related costs are estimated at up to $3.5 million a year for a larger company.
- 40% of job turnover is due to stress
- Xerox estimated that it cost them $1 to $1.5 million to replace a top executive and that was two decades ago
- Replacing an average employee today costs between $3,000 and $13,000
- 60 to 80% of accidents on the job are stress related and some, like the Three Mile Island and Exxon Valdezdisasters, can affect untold thousands many miles away.
- In California, the number of Workers’ compensation claims for mental stress increased by almost 700 percent over eight years and ninety percent were successful with an average award of $15,000 compared to a national average of $3,420.
- In 1987, California shelled out almost $1,000,000,000 for medical and legal fees alone, which is more than most states spend on actual awards.
- Stressed-out employees are more likely to miss work both as a coping mechanism and due to health-related problems. A recent study published in the American Journal of Health Promotion found that workers experiencing high stress were over two times more likely to be absent more than five times per year. Lost productivity and replacement costs make absenteeism a costly consequence.
Stress is a major issue. Although the hard-hitting numbers are undeniable, most companies haven’t yet developed strategies to combat stress in the workplace. These include effective training in individual skills as well as addressing sources of stress in business practices and processes, organizational structures and company cultures.
If leading businesses follow best practices regarding management, sales, marketing, training, and other key areas of business operations, it makes good business sense to incorporate best practices in reducing workplace stress too.
Hypnosis Stress reductions techniques have long been proven to help reduce unnecessary stress and pressure in our lives. AtPortland Maine Hypnosis Center, you will learn self-hypnosis for stress reduction and begin to take control of your daily stress once and for all.
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