Workplace stress is on the rise, and it’s costing corporate America a fortune. Some estimate that 80% of healthcare costs are stress related, and these expenses go directly to the bottom line.
According to CNN-Money.com, Americans spent more than $17 billion on antidepressants and anxiolytics in 2002, up 10% from the previous year and nearly 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 in lost work days, hospitalization and premature death of executives.
On top of these staggering numbers, stress takes its toll through the added costs of quality control, legal challenges, missed opportunities, poor performance, bad attitudes, and training.
We can’t do much about the skyrocketing costs of health care 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 get stressed when they have too little or too much to do. Managers must divide responsibilities and help employees prioritize the work that needs to be done. 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 add to stress. Time management, delegation of responsibilities, and clarification of expectations can reduce these stressors. 8. “Pervasive Uncertainty” – Stress levels rise rapidly when people are faced with new requirements and procedures. Keeping people informed controls stress and increases productivity. Put the details on a note so they can review the facts after your explanations.
8. “Pervasive Uncertainty” – Stress levels rise rapidly when faced with new requirements and procedures. Finding out what’s going on and keeping staff informed helps manage stress and increases productivity. Write the information down in a memo so you can review the facts. Staff members will appreciate the written analysis.
7. “Distrust and unfairness”: These situations keep everyone on edge, 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 need to consistently build trust and provide equal treatment, just do the right thing.
6. “Unclear policies and no sense of direction”: Lack of focus breeds uncertainty and undermines trust in management. You need more than a well-written policy manual. Policy enforcement and clear communications are essential.
To make sure everyone gets the message, you can repeat your explanation in a number of ways – repetition and feedback are important. Reinforce policies through memos, articles, bulletin board postings, face-to-face meetings, and small group discussions.
5. “Career and Job Ambiguity” – If people are uncertain about their jobs and careers, there is a feeling of helplessness and being out of control. In addition to reliable job descriptions and annual staff reviews, people need to understand a wide range of issues that affect the company.
News of mergers, consolidations, plant closures 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 feedback, 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. “Non-appreciation” – Lack of appreciation creates stress that jeopardizes productivity throughout the company. There are many ways to show appreciation, but the most effective is a sincere comment about how much the person means to you and the company.
2. “Miscommunication”: Poor communication leads to decreased performance and increased stress. Management memos and announcements work well for distributing information, but two-way talk improves communication and solicits ideas and suggestions while reducing stress and complaints.
1. “Lack of Control”: Workplace stress is higher when employees don’t have a say in things that affect them. You can decrease sensitivity to all other stressors and provide a sense of control by involving employees in operational and management decisions and by acting on their input. Frontline 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 pay as much attention to it as any other managerial function.
Understanding the concepts and reducing stress one step at a time can have an amazing impact on your bottom line and the lives of those doing the heavy lifting.