Study: 94% of US and UK workers report high work-related stress

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Dive Brief:

  • All but 6% of 1,600 U.S. and U.K. workers said they suffer from stress, and at least a third of them said they’ve experienced “high” or “unsustainably high” stress, according to a new study by Wrike, “The Stress Epidemic: Employees Are Looking for a Way Out.” The study found that respondents are refusing to tolerate high levels of stress.
  • In other survey results, a quarter of respondents said they will burn out in the next 12 months if they can’t reign in their stress levels. Almost 50% said workplace stress is making them “check out,” ceasing to care about work at some point in their careers. Sixty percent of respondents have searched for a new, less stressful job, and a quarter of them said they’ve quit a job because of stress.
  • Key survey results showed that 54% of survey respondents cited stress as having a negative effect on their home life at least once a week, or, as some said, every day. More than half said they had lost sleep because of stress and a quarter reported a decline in work quality due to stress. Wrike concluded that despite the conventional wisdom that people perform better under stress, when workers are stressed-out, it could mean that employers are getting less from them, rather than the best.

Dive Insight:

Employers may want to take a proactive stance against workplace stress or intervene when stress threatens the success of workers. Wrike cited a Gallup poll showing that checking out of the workforce costs employers $450 to $550 billion in lost productivity annually. The firm also referenced a Kronos study revealing that HR managers cited burnout as the cause of half of their organizations’ annual turnover. And if burnout caused 50 employees earning $60,000 to quit, Wrike said, replacing them would cost an employer $2.25 million.

Some employers have begun offering well-being programs in response; a Virgin Pulse study revealed 42% of respondents said their wellness programs aim to improve employee engagement. The survey also reported that 72% of participants offered a program for mental health, and 85% of workers said the need for stress management was key in persuading them to participate. Employee assistant programs (EAPs) may be a key tool in encouraging employees to obtain assistance when they need it, studies have shown.

Employees are also keen to join in on financial wellness programs their employers offer to help them alleviate money problems, which distract one in three employees at work, according to the Center for Financial Services Innovation.

Read more at HRDive

By | 2018-09-13T05:14:09+00:00 September 19th, 2018|Categories: Financial Wellness|Tags: , , |Comments Off on Study: 94% of US and UK workers report high work-related stress