Workplace stress piles pressure on UK businesses
Workplace pressure and poor self-esteem are commonplace across the UK and it is having an adverse effect on businesses, new research has revealed.
While more people in the South said they feel ‘burnt out’ and ‘on edge’ when at work than those in the North or the Midlands, a high proportion of workers were impacted across the country.
The figures from Crunch Accounting reveal that a quarter of workers in the South list burn out as the most likely reason for them to leave their jobs, compared to 22% and 18% in the North and Midlands respectively.
A further 30% of those in the South said they felt on edge when working, compared to 25% in the North and 21% in the Midlands.
The study also revealed that 38% of those in the North feel permanently stressed, as do 34% of Southerners and 29% of those in the Midlands.
This has impacted on people’s self-esteem while aggressive management from bosses has also caused employees to reveal disdain for their workplace.
The universal picture of anxiety is not positive for UK businesses, especially as it ultimately impacts on productivity and sales.
Even if employees do move on, businesses are still faced with a costly hiring process in order to replace them.
While these costs can be absorbed by larger firms, smaller businesses may struggle should sales fall or if operational costs increase.
The current business environment has seen rates increase in many locations for example, which has pushed the costs of everyday operations up accordingly.
For a business looking to ensure it is able to continue to grow, or even survive the conditions, they may want to consider their refinancing options.
If accessing finance is proving difficult, there are a range of alternative finance options that may exist as a solution while an options review should provide a thorough assessment of a business’ current position.
By Phil Smith
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