Prevent employee burnout

Work is a key source of stress for many Americans and employee stress levels take a financial toll on firms. According to the American Institute of Stress, job stress costs U.S. companies more than $300 billion annually due to accidents, absenteeism, diminished productivity, employee turnover, workers’ compensation and direct medical, legal and insurance costs. Managers can help reduce their employees’ stress through various tactics.

Encourage employees to use vacation time. It’s reported that more than half of American workers fail to use all of their vacation time. The reasons why generally tie to work responsibilities: a too heavy workload, lack of work coverage or the fear they’d be seen as replaceable. Ensure employees’ vacation time isn’t expiring or going unused. Encourage people verbally to take a vacation, and foster a culture that appreciates, instead of begrudges, employees taking time away.

Offer employee assistance programs. Corporate wellness programs can promote self-care and stress management by providing financial resources, mental health counseling and diet, exercise and tobacco cessation programs. According to Morneau Shepell, every $1 invested in a wellness program provides more than eight times the return on investment due to improved productivity and reduced absenteeism.

Create goals and career paths. SHRM reports employees cited a lack of opportunity for growth and advancement among the top five stressors at work. Helping employees obtain new skills can help them adapt to a dynamic market and help them grow their advancement opportunities, inside the company and outside it. Encouraging employees to view stressful situations as a challenge, rather than a threat, can help them rise to the occasion.

Practice open communication When information is withheld and communication is minimal, employee stress can rise simply because of the unknown. Managers should make it a practice to provide open communication, ensuring employees receive timely, transparent updates, underst3and expectations and understand how their performance is benchmarking against goals.

Source: Michigan State University