Companies Not Doing Enough To Ease Workplace Stress
Despite the fact that stress is the most frequently cited reason among U.S. workers for quitting a job, most employers fail to acknowledge the link between employee stress levels and business performance, and relatively few take action to reduce stress in the workplace, a report published by human resources consultancy Watson Wyatt has warned.
Based on the results of two surveys conducted by Watson Wyatt, the study found that 40% of employees cite stress as one of the top three reasons why they would leave an employer, but employers tend to believe that workers quit their jobs for other reasons, including insufficient pay, lack of career development, and poor supervisor relationships.
“Many companies don’t appear to appreciate how stress is affecting their business,” said Shelly Wolff, national practice director of health and productivity at Watson Wyatt. “Too much stress from heavy demands, poorly defined priorities, and little on-the-job flexibility can add to health issues. By leaving stress unaddressed, employers invite an increase in unscheduled time off, absence rates, and health care costs—all of which hurt a company’s bottom line.”
Nearly half (48%) of the employers surveyed conceded that asking employees to work long hours and do more with less could have a negative impact on the company’s performance. When asked to identify other causes of employee stress that could affect business results, 32% of employers cited a lack of work/life balance; 29%, technologies that expand employee availability; 24%, managers’ inability to recognize stress; and 20%, managers’ inability to find solutions for stress.
However, the study also found that very few employers are doing anything to address these problems. According to the survey findings, just 5% of employers are taking strong action to correct the problem of long hours and the pressure to do more with less, and only 6% of employers are taking steps to minimize the stress associated with increased availability due to new technologies. Meanwhile, 16% of employers reported taking action to help workers achieve work/life balance, and 14% said they are encouraging managers to find ways to reduce stress levels.
“Pay alone is not enough to retain and engage today’s workers,” said Laura Sejen, global director of strategic rewards at Watson Wyatt. “To remain competitive, companies need to understand fully what causes employees to join or leave and what causes them to be productive if they stay. A total rewards approach that includes both monetary and non-monetary rewards is more meaningful for employees and more effective for employers.”
