Stress has become an ever-present companion for employees across Denmark, leading to rising healthcare issues while hampering productivity.
Howdy represents a strategic solution to the growing challenge of workplace stress. By integrating the digital hybrid solution into the workplace, Howdy not only supports individual employees but also contributes to the overall health and efficiency of organizations. As the research emphasizes the significant financial and human cost of stress in the workplace, Howdy’s unique methodology offers a proactive strategy for companies to mitigate these impacts.
A new study by the National Research Centre for the Working Environment (NFA) puts an exact price tag on workplace stress, estimating it costs Danish companies 16.4 billion kroner per year when factoring in absenteeism, turnover, and lost productivity.
The number of Danes reporting high levels of stress has jumped over 8 percentage since 2010. These stressed employees have much higher absenteeism rates, with companies paying the price.
The NFA calculates that stress-related sick time and absences lead to 61.9 million lost working hours yearly nationwide. That’s the equivalent of a staggering 37,335 full-time positions.
The economic impact includes:
- 10.4 billion kr. spent yearly on sick leave salaries
- 4.8 billion kr. lost yearly when stressed employees quit
- 1.2 billion kr. in miscellaneous productivity losses
Researchers note these figures only capture workplace costs – not society-wide impacts like the burden on the healthcare system or early retirement pensions. However, they make a compelling case for stress prevention. If Denmark could reduce the number of highly stressed workers by just 10%, the NFA estimates:
- 2,446 fewer full-time equivalent jobs lost per year
- 1.2 billion kr. saved yearly by companies
While the workplace stress epidemic can seem daunting, previous research from NFA suggests that stress should be prevented through a systematic effort that involves both employees and management.
The universal trend of stress shows no signs of slowing. However, with supportive policies that foster wellbeing, Danish companies can buck this trend. There is simply too much at stake – both humanly and economically – to ignore this serious societal threat.