At a recent conference in the UK, Professor Cary Cooper warned that the costs of stress are very likely to escalate over the next decade. He noted that work-related stress already costs the UK 5-6bn yearly as the leading cause of sickness absence. According to Cooper, existing high levels of stress will only increase with teleworking, short-term contract working, and new technologies. He also pointed out the stress-increasing trends of more owner-managed companies, increased regulation, more dual-income households, and the 24/7 work culture.
Cooper asserted that employers who emphasize the bottom line over the general welfare of their employees should realize that the two are closely linked. He said employers should “honor the psychological contract with their staffs and include more flexible working arrangements, team-working, and a better management system based on reward and praise.” He warned further that if employers do not understand this and take action soon, “employees will simply follow the green light to a company with better working practices and take with them the skills, knowledge, and prospects of the organization they left. The mantra foremost in minds of employers, he said, must be, ‘Lose your staff and you lose your business.'”
Based on a report from i-FM
