How Stress Can Affect the Bottom Line

The research is clear: Workplace stress is on the rise both internationally and within Australia. In fact, work-related stress is cited second only to musculoskeletal injury as the most compensated workplace illness in Australia!

 

While stress directly affects the health and wellness of employees, businesses can suffer from our high-strung state as well. Stress undermines workplace productivity, focus and employee performance. So if you want to lead a team of star-performing employees, it pays - literally - to manage workplace stress.

 

First things first... What is workplace stress?

 

Workplace stress has been defined in a number of ways but is typically described as a level of work demands that is beyond our ability to cope.

 

There are many factors that can cause stress, including but not limited to:

 

• Having a higher workload, job pressures and responsibilities than somebody can reasonably manage
• Conflict with others in the office
• Long work hours
• Discrimination and bullying
• Too much change
• Feeling insecure in an employment position (eg potential risk of redundancy)
• Poor support

 

When workplace stress is chronic and left untreated, our bodies are subjected to unnaturally high levels of stimulation. This can manifest with a variety of symptoms that range from physiological to psychological in nature, such as:

 

• Anxiety and depression
• Tension headaches and migraine
• Mood swings
• Sleep disorders
• Musculoskeletal tension and pain
• Gastrointestinal issues
• Difficulties concentrating
• Skin issues
• Heart palpitations and high blood pressure

 

Who is affected by workplace stress?

 

The Australian Stress and Wellbeing (2013) report yielded some fascinating insights into our national state of stress. In this study, wellbeing ratings hit an all-time low and Australian stress-levels peaked with an unprecedented high. Not surprisingly, more Australians reported symptoms of anxiety and depression than ever before.

 

In this vein, Australians also showed declining levels of job satisfaction, lower workplace wellbeing and less interest in their work. One in two surveyed Australians stated that work was a stressor in their lives.

 

This has a very real impact on businesses. Work-related stress has been shown to contribute to organisational issues, poor productivity, higher intentions to quit, drug and alcohol addictions, increased staff turnover, more burnout and low job commitment.

 

The benefits of a less-stressed workforce

 

Caring about employee stress and wellbeing is more than merely altruistic; it also has a very real impact on the overall performance of your organisation.

 

Less stress is associated with many business benefits, such as lower rates of absenteeism and sick leave, an increase in productivity, higher levels of job satisfaction and a lower overall cost to employers. (Not to mention the benefit of avoiding employee stress claims.)

 

10 quick tips to help your staff feel less stressed...today!

 

Firstly, it’s important to acknowledge that work is a top source of stress for many people. Therefore, employers can (and should) aim to avoid unnecessary stress in the workplace. Thankfully, there are many things we can to do help with this!

 

Here are 10 key steps to providing a happy and psychologically healthy working environment: 

  

1.  Value the work of employees
2. Measure workloads during peak periods and implement support accordingly
3. Care about employee health, safety and happiness
4. Give regular feedback and acknowledgement (for example, you could survey your employees about their current levels of workplace stress)
5. Set clear expectations
6. Provide autonomy wherever appropriate
7. Support employees who are struggling with mental health issues or family demands (for example, with more flexible working arrangements)
8. Provide opportunities to grow
9. Hire supportive managers (or foster a culture of support)
10. Negotiate reasonable deadlines with your team

 

In stark contrast to this list, only one in two Australians feel that employers value their work or have concern for their wellbeing!

 

As a business who cares about stress and wellbeing in the workplace, you can really stand out from the crowd and attract awesome staff from this growing national pool of discontented employees.

 

And remember - happy, less-stressed employees also improve the bottom line profitability and productivity of your business.