Did you know that the impact of employee stress and burnout costs companies $125 billion to $190 billion every year in healthcare? The same report notes that burnout leads to disengagement, which costs companies another $3,400 out of every $10,000 in salary. The financial risks of burnout are unmistakable — but an employee wellness program can make all the difference.
Healthy employees mean long-term employee retention, higher levels of productivity, and improved quality of work. While this also means more cost-savings, it also means a happier and more loyal staff to rely on.
Here's a complete breakdown of the impact and signs of employee burnout, why wellness matters in the workplace, and how employee wellness improves ROI.
Although most companies don't realize it, employee burnout is more prevalent than you think. According to a Gallup study, about 28% of their full-time-employee respondents reported feeling burned out at work 'very often' or 'always.' An additional 48% said they feel burned out 'sometimes.'
This means that nearly eight in 10 full-time employees sometimes experience burnout on the job.
Considering most (at least 70%) employees would quit their job if they feel like the company isn't doing enough to prevent employee burnout, employers must start prioritizing ways to avoid burnout more.
This begins with recognizing the signs.
You got a taste of the cost of burnout in earlier sections, but here's a deeper dive into what to expect. To name a few, the price of burnout can include:
ALL of these decrease revenue and increase expenses.
UMass Lowell reports that job stress costs American companies a shocking $300 billion or more annually in health costs, absenteeism, and poor performance.
Additional statistics reported in UMass Lowell's research that support the heavy impact stress has on a company's bottom line include:
Now that you have a better idea of the costs of stress and burnout, an excellent solution to preventing it in your workplace is to establish a wellness program for all employees.
WellSteps reports that wellness programs reduce health risks in as quickly as six weeks, earn ROIs of $3.27 per $1 invested, and reduce the costs of poor productivity by two to three times.
Great wellness programs often include:
You'll also want to consider more than just physical health when prioritizing the well-being of your staff. Make sure you are also offering the following:
Keeping your staff happy and healthy is essential to your entire operation running smoothly. The financial impact of employee burnout and stress is more than most companies can handle. It impacts the health and well-being of your staff and your potential to grow and flourish in today's market.
This is where PRO Resources can help.
Our PRO Wellness Program is designed to improve your team's mental, physical, and emotional health. We do this by providing one-on-one or group coaching and implementing strategies that allow companies of every size to achieve positive changes and motivate employees to be their best. Our wellness program offers options such as:
Contact us for more insight into the importance of reducing employee burnout, why employee wellness matters for your business, and how our wellness program can solve your problem.