Workplace stress is increasingly acknowledged as a global issue affecting a wide range of industries and professions today. Many people are facing added pressure to meet the psychosocial demands of modern working life. Increased competition, higher expectations and longer working hours are all contributing to an ever more stressful working environment.
The Psychological Health and Safety Standard (PHSS) was introduced five years ago to help employers protect and prevent harm to employees’ psychological health in Canadian workplaces. The Standard was developed from research showing that unhealthy work environments are a significant cost to the Canadian economy, businesses, and individual workers and their families.
In fact, mental health issues and illnesses account for approximately 30% of short- and long-term disability claims. Mental health conditions are also the leading cause of absenteeism and presenteeism, with an economic burden estimated at over $50 billion dollars per year, with $20 billion directly from workplace losses.
How much is stress costing your organization?
Understanding the cost of stress and mental health issues in your organization is one of the first steps in creating a PHSS continuous improvement system.
Acclaim Ability Management works with employers to calculate the direct and indirect costs of stress-related factors, and provide actionable recommendations to develop a mental health strategy that supports the Standard.
Want to find out how Acclaim can help create a healthy workplace?