Leaders, do you have an interest in keeping workplace morale high? In protecting your employees from burnout, stress, and fatigue? In providing them with the resources they need to tackle major anxieties or seasons of struggle? Of encouraging all employees—yourself included—to take vacation time in order to recharge those batteries and stave off exhaustion?
You should be, and not just because it’s the right thing to do. It’s also something that can impact your business at the bottom line. And if you aren’t mindful of workplace burnout, it could cost you big time.
How Workplace Burnout Costs Businesses
Indeed, workplace burnout has become an epidemic. And as more and more leaders and employees are succumbing to the physical and emotional ravages of workplace anxiety, it’s costing businesses billions of dollars each year.
That’s right, billions. And that number encompasses all of the following:
- The cost of replacing employees who leave the company because they feel overworked and underappreciated.
- The cost of sick days, call-outs, and employee absenteeism.
- Missed opportunities from sapped creativity and impaired ingenuity.
- Higher healthcare costs for your employees, which can put a big ding into workplace insurance costs.
- A general lack of energy and forward momentum.
The bottom line is that when you and your employees feel consistently burned out—beaten down by the stresses of daily life and work—it can have a big, negative impact on the entire team. So what can be done about it?
Well, we’re in the midst of the holiday season right now, so I hope one thing you’re doing is taking vacation—and encouraging your employees to do likewise! Something else to consider is investing in stress management training, or at the very least in exemplifying stress mitigation techniques for your employees. Even communication and regular affirmation can help avert workplace burnout; hard work is easier to swallow when it seems like it’s appreciated and meaningful!
Whatever you do, don’t ignore the problem of burnout. If you don’t deal with it early on, it could cost you big time.
Dr. Rick Goodman CSP is a thought leader in the world of leadership and is known as one of the most sought after team building experts in the United States and internationally.
He is famous for helping organizations, corporations, and individuals with systems and strategies that produce increased profits and productivity without having the challenges of micro managing the process. Some of Dr. Rick’s clients include AT&T, Boeing, Cavium Networks, Heineken, IBM, and Hewlett Packard.