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Work-related Stress Costs Employers and Society

The European Agency for Safety and Health at Work (EU-OSHA) recently released a report on the high cost of work-related stress titled “Calculating the Cost of Work-related Stress and Psychosocial Risks.”

The EU-OSHA defines work-related stress as “when the demands of the work environment exceed the workers’ ability to cope with (or control) them.” According to the report, work-related stress leads to increased absenteeism and staff turnover rates and decreased productivity and performance.

Together, these stress-related factors are estimated to cost the U.S. economy as much as $300 billion annually.

The study reviewed the cost-benefit impact of employer-driven stress reduction interventions. Though individual results varied, early intervention was shown to reduce the prevalence of stress-related problems and ultimately result in employer savings.

 

Filed under: Workers' Compensation — Jillian Bender-Cormier @ 10:13 pm August 26, 2014