Home > SME News > Stressed employees 'cost UK businesses £9.6bn'

Stressed employees 'cost UK businesses £9.6bn'

Published On 22 March 2007 at 14:48:27

Employees, including those who work for the UK's small and medium-sized enterprises (SMEs), admit to feeling increasingly stressed in their workplace, according to a new report.

Data from The Chartered Institute of Personnel and Development (CIPD) reveals that one in five workers say they feel stress while at work.

Overall, the report found that 44 per cent of UK workers say they feel under significant pressure at least once a week and this stress is estimated to cost UK businesses, including SMEs, £9.6 billion every year.

An employee relations adviser Ben Willmott explained that workplace stress is a common "cause of long-term absence".

He added: "[Stress] also damages employee morale and productivity and leads to high staff turnover.

"Good people management can help to prevent most of the problems causing stress at work, such as lack of control over workload."

Mr Willmott concluded by warning SMEs that if they fail to manage the stress levels of their employees, they could become "vulnerable to litigation and potentially high compensation payouts"

The health insurance company Bupa recently revealed that it is increasingly important for SMEs to manage their staff effectively.

"A company's ability to attract and retain a healthy and motivated workforce is directly linked to the health and wellbeing of its staff," explained Dr Andrew Vallance-Owen, Bupa's medical director.

 

Related SME News:

• Postal strike 'would hit SMEs hard'
  7 June 2007 at 16:23:50
  Any strike by Royal Mail staff could be disastrous for small and medium-sized enterprises in the UK, a business group has warned.
• SMEs 'encouraged to focus on emerging markets'
  7 June 2007 at 08:56:14
  Business groups have welcomed the findings of the Trade & Industry Select Committee's report on UK trade and investment (UKTI).
• Government acts to protect SME workers
  6 June 2007 at 09:00:30
  The government has launched a pilot scheme to try and crack down on the bosses of small and medium-sized enterprises (SMEs) who treat their staff poorly.
• Bosses 'can say no' to flexible work requests
  30 May 2007 at 16:12:02
  The bosses at the UK's small and medium-sized enterprises should not be afraid to refuse their staff's requests for more flexible working arrangements if they believe they will harm business.
• Manchester SMEs 'oppose road pricing'
  30 May 2007 at 08:51:09
  The vast majority of small business owners in the Manchester area are opposed to the proposed road pricing scheme which could be introduced in the city.
• Paternity rules 'will harm SMEs'
  29 May 2007 at 14:36:30
  New paternity regulation will harm the productivity of the UK's small and medium-sized enterprises (SMEs), a leading industry group has warned.
• Workers 'want to quit if they can't progress'
  25 May 2007 at 09:02:52
  The bosses of the nation's small and medium-sized enterprises need to do more to make sure their staff benefit from day-to-day training opportunities, industry experts have claimed.