What proof is there that investing in stress management programmes and resources actually yields a financial return in the end?
Much has been made of stress at work in recent times. There may be a mad scramble to 'do something' at great expense. What proof is there from previous research and studies that there is a financial pay-off?
I am not interested in the moral arguments about whether we should attach dollar values to stress management - some people do. I want to see a stress management process in place, but I have to provide some very firm proof & facts that it is worth it in dollar terms.
Any takers?
Martin Schmalenbach
3 Responses
Stress costing
Having a stress management training programme in place as an on-going management training assists your case if you are sued for stress caused through the workplace. This type of litigation is costly (£167000 plus for routine cases!) and PR adverse. All the Nationals cover the stories as it makes good reading. The growth of stress management consultants has grown into , in my opinion, a touchy feely soft area for some. The psychological welfare duty of care is not a soft area defended in law by massage at the desk alone. A recent documentary showed 2 lady consultants selling thermometers to measure stress in employees at £35.00 plus in the name of a ‘Stress management consultancy’. The real pay off is developing a strategy that protects your firm when stress hits an employee and identifying those who are likely to suffer from stress and addressing the issues properly so mentally your staff work in a safe system of work just as you develop a Health and Safety policy around visible hazards. If you would like to discuss the areas and Post Walker (lead legal case)development then please contact me further. Telephone 0870 241 3998. Stress is endemic in the workplace and a current topical legal issue and any management of it to avoid litigation is economic sense as one claim can bring a company to its knees. It is almost impossible to insure against as it is a Tort right in law not just a strict employment law issue. You can protect your company and your employees but as with all training you need to establish what you risk you wish to mitigate and structure your training accordingly. If you do want any written info on the cost of litigation I have every case since Walker set the precendent, your board should need no further pursuasion! Training By Design Global Ltd 0870 241 3998
Yes proof exists that stress management pays off
Martin,
We have data that proves that stress management pays off from 2 sources;
1. Research – we worked on validated research that has been subsequently published by HSE.
2. Our current and past clients – we guarantee ROI for clients or clients pay nothing for our services. Aside from the fact that we have done this already, we use a tailored and validated stress audit tool that accurately identifies stressors in the workplace. By using this tool we know what training or interventions will improve client performance through stress management.
Before commencing work with clients we agree targets for improving measurables (sickness absence, productivity or performance based)and if we dont achieve the targets we dont get paid. It really is that simple and that unique.
If you would like some details of the “scientific” reports on this (published data) let me know and i will forward these to you.
I’m at [email protected].
fergus mcbride
mosaic business dynamics ltd.
stress management
Have you tried contacting the International Stress Management Association? The website address is http://www.isma.org.uk
best wishes
sheila