The costs of job stress in developed countries like Australia, US, UK, and Germany have been estimated at $200 to $300 billion annually in absenteeism; diminished productivity; employee turnover; accidents; and medical, legal and insurance fees.
Stress is blamed for 80% of all disease and illness, and 60% to 90% of all medical office visits in the US.
Given these alarming statistics, it is no surprise that corporate Australia, America, UK and Germany are making a major commitment to stress management.
The average total cost of a mental stress claim is A$140,000. Source: Aust. Govt. Compendium of OHS and Workers’ Compensation Statistics, 2009.
United States National Institute for Occupational Safety and Health
According to the National Institute for Occupational Safety and Health, recent studies show the following:
- Musculoskeletal Disorders
On the basis of research by NIOSH and many other organizations, it is widely believed that job stress increases the risk for development of back and upper- extremity musculoskeletal disorders.
- Psychological Disorders
Several studies suggest that differences in rates of mental health problems (such as depression and burnout) for various occupations are due partly to differences in job anxiety levels.
- Workplace Injury
Although more study is needed, there is a growing concern that hectic working conditions interfere with safe work practices and set the stage for injuries at work.
- Suicide, Cancer, Ulcers, and Impaired Immune Function
Some studies suggest a relationship between a stressful workplace and these health problems.
- Cardiovascular Disease
Many studies suggest that psychologically demanding jobs that provide employees little control over the work process increases the risk of cardiovascular disease.