Research reveals that nearly 80% of UK workers might quit due to stress, demanding urgent employer action.
- High stress levels rank just slightly below salary concerns, compelling employees to leave their jobs.
- There is a significant shortfall in employer support for mental health, with less than half having effective practices.
- Workplace stress, anxiety, and depression account for a substantial portion of sickness-related absence days.
- Positive health and wellbeing schemes can significantly enhance employee retention and overall workplace health.
A recent survey conducted by WPI Economics and reported by Unum UK underscores the profound impact of workplace stress on employee retention in the UK. Almost eight out of ten employees indicated that excessive stress might lead them to exit their current positions. This ranks workplace stress just one percentage point below salary in terms of reasons employees contemplate leaving their jobs.
The survey exposed a troubling gap in mental health support offered by employers. Less than half of the employees surveyed believe that their employers provide adequate mental health services. This deficiency places employees in a precarious position, where their wellbeing is compromised, leading to increased job dissatisfaction and turnover.
The consequences of ineffective stress management are stark, as illustrated by the 17.1 million working days lost to stress-related illnesses like depression and anxiety in 2023 alone. These figures highlight the urgent need for employers to actively mitigate stress through comprehensive and supportive measures.
Encouragingly, 57% of employees expressed that the adoption of health and wellbeing initiatives would influence their decision to stay with their current employer. This indicates that such proactive measures not only have the potential to retain valuable employees but also reduce the economic impacts of absenteeism caused by mental health issues.
Liz Walker, COO at Unum UK, emphasizes the necessity for employers to recognize and address mental health issues within their wellbeing strategies. She states, “Many employers have already recognized the need to support their staff as part of their wellbeing strategies.” Walker warns that if stress is not adequately addressed, the outcome could be a massive exodus of talent, further exacerbating the economic burden of absenteeism.
Effective management of workplace stress is crucial for retaining talent and fostering a healthy work environment.
