Stress And Recession

Originally Published on 2^nd July 2009

Over 13 million working days were lost in Britain alone last year due to stress related absence and this figure is expected to rise as the economy declines. A survey of absence management conducted by the Chartered Institute of Personnel and Development ("CIPD") in 2008 found stress to be the leading cause of long-term absence in non-manual workers. Nearly a third of organisations responding to that survey reported an increase in stress related absence during 2007. The cost to British business of sickness absence is felt in both financial and human terms; reduced productivity, low morale and poor health. At a time when cost cutting initiatives are high on the agenda, health management strategy is key to the success of any business intent on riding out the recession.