Life - Articles - Economic uncertainty leads to exhaustion & stress


ECONOMIC UNCERTAINTY LEADS TO EMPLOYEE ABSENCE CAUSED BY EXHAUSTION AND STRESS

 New research from Canada Life Group Insurance reveals that almost half of all employees are more stressed at work than they were this time last year, showing that the uncertain job market and economic fears appear to be taking their toll on employees’ health and wellbeing.

 With unemployment increasing over the last quarter by the largest amount since August 2009*, many employees find themselves having to cover the workload of a diminishing workforce. As many admit to taking time off because they are tired (33%) and stressed (20%), it becomes clear that the reasons for employee absence extend beyond sickness.

 Thirty-four per cent believe that job cuts have resulted in a smaller workforce which is being stretched to cover the same workload. Furthermore 27% avoid taking time off for sickness because they fear it will count against them in a job market where cuts are still taking place. Almost half of employees (47%) are more stressed than this time last year – and a further 13% believe this will worsen in the future.

 Those employees who have experienced a period of absence for either sickness, stress or tiredness are finding that time off work does not provide them with the rest they need. A third of employees (29%) feel the pressure to keep up with work while they are off sick by checking and answering emails, and a further 33% found that their workload has been left for them to tackle when they are back.

 Paul Avis, Director of Sales and Marketing at Canada Life Group Insurance comments,

 “Over the past few years we have witnessed a difficult economic climate in which there have been widespread job cuts. This, in turn, has placed the remaining workforce under additional pressure – not only to cover the workload that has been left, but also because they feel that they have to make themselves invaluable to their employer, so that they too are not left facing unemployment. Consequently, stress and tiredness now count as two of the most common reasons behind employee absence.

 “Employee absence involves both a financial cost to the employer, and can place employees under greater strain upon their return to work. Therefore it is in all parties’ interests to ensure that support mechanisms are in place to help employees manage their workload and stress levels, and monitor their health and wellbeing. With the economic crisis still a concern it is vitally important that employers review how best to protect their employees, in order to avoid absence having an even greater effect upon the business.”
  

Back to Index


Similar News to this Story

New data reveals gender disparity in life expectancy
Half of men celebrating their 65th birthdays this year are expected to live for nearly 21 more years while half of women reaching 65 are expected to l
62 percent of employers to focus on workplace health in 2025
According to the very latest research from Towergate Employee Benefits, nearly two-thirds (62%) of employers will increase their focus on supporting t
IPT receipts hit almost GBP7bn in Q1 to Q3 of 2024 to 2025
According to this morning’s HMRC data, Insurance Premium Tax (IPT) receipts reached £53 million in December 2024, bringing the Q3 (Oct-Dec) total for

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.