Stress in the workplace is on the rise and is costing American businesses a fortune. Some estimate that 80% of health care costs are related to stress, and these expenses go directly to the bottom line.
According to CNN-Money.com, Americans spent more than $ 17 billion on antidepressant and anxiolytic medications in 2002, 10% more than the previous year and almost 30% over a two-year period.
The Institute for Management Excellence reports that American industry spends more than $ 26 billion each year on medical bills and disability payments, with another $ 10 billion on lost work days, hospitalization, and premature death.
In addition to these staggering numbers, stress takes its toll through the added costs of quality control, legal challenges, missed opportunities, poor performance, poor attitudes, and training.
We can’t do much about the skyrocketing costs of healthcare and prescription drugs, but we can take immediate action to control the top ten causes of stress identified by the Global Business and Economic Roundtable on Addiction and Mental Health.
The countdown is:
10. “Workload” – Employees report that they often feel stressed when they have too little or too much to do. Managers must divide responsibilities and help employees prioritize the work they need to do. Make sure you understand the impact before changing responsibilities. Consider the cost of stress before increasing someone’s workload or hiring more people.
9. “Random interruptions” – Phones, pagers, walk-ins, and spontaneous demands from supervisors all contribute to increased stress. Time management, delegation of responsibilities, and clarifying expectations can reduce these stressors. 8. “Widespread Uncertainty” – Stress levels rise rapidly when people are faced with new requirements and procedures. Keeping people informed controls stress and increases productivity. Include the details in a note so they can review the facts after your explanations.
8. “Widespread Uncertainty” – Stress levels rise rapidly when faced with new requirements and procedures. Finding out what is happening and keeping staff informed helps manage stress and increase productivity. Write the information in a memo so you can review the facts. Staff members will appreciate written analysis.
7. “Mistrust and injustice”: These situations keep everyone nervous, create bad attitudes and reduce productivity. It is important to keep an open line of communication to avoid misunderstandings and to know what people think about your decisions. Managers must consistently build trust and treat fairly, just do the right thing.
6. “Unclear policies and no sense of direction” – Lack of focus creates uncertainty and undermines trust in management. You need more than a well-written policy manual. Policy compliance and clear communications are essential.
To make sure everyone understands your message, you can repeat your explanation in several ways; repetition and feedback are important. Enforce policies through notes, articles, bulletin board posts, face-to-face meetings, and small group discussions.
5. “Career and job ambiguity”: If people are unsure of their jobs and careers, there is a sense of powerlessness and out of control. In addition to trusted job descriptions and annual staff reviews, individuals need to understand a wide range of issues that affect the business.
News of mergers, consolidations, plant closings and restructurings contribute to a feeling of helplessness. Management must keep people informed about situations that will affect their jobs, or rumors will add to an already stressful situation.
4. “No comments, good or bad”: People want to know if they are meeting expectations. Consistent personalized written and verbal feedback is required. Some people need more attention than others, but everyone’s performance improves if leaders frequently affirm individual efforts.
3. “No appreciation” – Not showing appreciation creates stress that jeopardizes productivity throughout the company. There are many ways to show appreciation, but the most effective is a candid comment on how much the person means to you and the company.
2. “Lack of Communication” – Poor communication leads to decreased performance and increased stress. Management memos and announcements work well for distributing information, but two-way conversation improves communication and solicits ideas and suggestions while reducing stress and complaints.
1. “Lack of control”: stress in the workplace peaks when employees have no say in the things that affect them. You can decrease sensitivity to all other stressors and give a sense of control by involving employees in operational and managerial decisions and acting on their input. Front-line employees know what they’re talking about. Listening to what they have to say reduces stress and increases productivity.
Effective managers understand that stress management is a leadership responsibility and they pay as much attention to it as they do to any other managerial function.
Understanding the concepts and reducing stress step by step can have a staggering impact on your bottom line and the lives of those who do the heavy lifting.