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The cost of workplace stress -- and how to reduce it | Rob Cooke
Stress. We all know what it is. We all handle it differently, but it's our thoughts. Speeding up or slowing down eating our emotions, or not. At all difficulty sleeping or just getting out of bed. Frankly. It sucks.
What does good stress to, you know, like preparing for the biggest public, speaking of that you've ever given?
On a global platform.
Now even the best route to message you but it's a bad stress that I came to talk about and probably not for the reason you expect. I'm a relationship manager for 1:30 individuals, meaning I work with wealthy folks in their families, hip to hip hop in their financial goals. Because I know that whatever impact, the economy and packs my clients and it turns out stress impact the economy in a Mastiff weigh,
What if I told you that by some estimates, the cost of work-related stress in the u.s. Is close to three hundred billion dollars, annually.
Workplace stress. The stress causing. This massive impact is related to productivity and wellness today. That's what we're here to talk about. And by the way, it's going to employ disengagement chronic diseases that impact your work and work-related injuries and illnesses. And when you add up the cost of all five factors, it's an estimated 2.2 trillion dollars annually.
The represent 12% of our GDP.
I know what you're thinking. That is a lot of money and how stress is deeply personal? Think it's crazy to think that I can have such a massive impact, but consider the thought experiment to explain how
Imagine a single mother working, a stressful job in a stressful environment where she sits 90% of the time maybe she doesn't have time to cook. So she chooses meals based off of convenience was usually means what overly processed high sugar foods overtime. This poor diet mixed with stress from work leads to a chronic disease is called diabetes. Medical care cost her and the company more money, which means more stress.
Now she's worried about a house and making ends meet, so she's probably distracted and less productive, but she can't be remember. She's a single mother. Now. She's thinking
What if something happens to me?
Who's going to take care of my child, who is going to take care of my baby or stress? I take that scenario, tweet to whichever way you like and lay it over the nation. And you might start to see how we run up against that multitrillion-dollar cost.
This song is very close to home for me. My father is one of the hardest working and most intelligent people that I know, but don't get me wrong, Mom, working provided to, but definitely embrace the role of being the primary Breadwinner. And I'm sure most of us can understand the stress and pressure that comes with taking care of our families. Or when you combine that with workplace stress. Do you know what could happen?
Developing irreversible. High blood pressure.
Eventually losing function of your kidneys and spending a decade on dialysis his fate. Now. I'm happy to report that he did get a kidney transplant. Just last year. However,
Power for nearly a decade of the economy, nor my family got the benefit from his work ethic or his intelligence and has he would say? That's just really sad commentary. All I'm saying is I think stress impact the economy by reducing productivity and increasing health care cost.
Right. Here's what doesn current research from the World Health Organization, was Global spending on health as 7.8 trillion dollars.
Research from the global Wellness Institute suggests that the 4.5 billion dollar Global on his industry grew from 3.7 to 4.2 trillion between 2015 and 2017 and see that growth into 2022. So why do you care? Because that growth is nearly twice as fast as the global economy averaging about 3.3% in the same. So, what does all that mean? Every year we're spending more for your own health and the industry's all about developing overall well-being, and living a healthy lifestyle or going, almost twice as fast as the global economy. And yet we're losing trillions of dollars per year and output.
So, what's up?
Will stress levels are out and I believe that needs to change. I also believe the way we think about stress needs to change. So much Try by reframing, how have you exceed, we tend to think about stress as a consequence, but I see it as a culture. Where do most of us, spend our time at work, right? We face that scale of finding that work-life balance. So the bonds between work stress health and wellness have never been closer. And yet there's a massive disconnect and how we put stress and well-being in the workplace and we can play many things. Right. New tech laser focus on shareholder. Returns are my favorite. Keeping up with the Joneses and taking pictures while we try.
But at the end of the day, I'm afraid that we traded a culture were Personal Care in overall well-being or given the back seat. So how do we move forward? I believe the answer lies in three fundamental pillars. And if you find yourself thinking, I've heard this before, tell me something, I don't know. Ask yourself if we already know what to do. Then what have we been doing? First corporations pacifically, how a corporation's culture and communication style, play a pivotal role in the stress and well-being of workplace. The DNA of a company is, is culture, right sets, the tone even goes as far as defining the company.
Passing company, should I invest in the overall mental physical and emotional well-being of their employees? The way they invest in Innovation, are indeed, right? And do I think that this would increase productivity and reduce stress. I really do, but for it to really stick a company, has to figure out a way to measure the overall, well-being of its employees, with the same accuracy and precision that they projected growth in earnings. This sounds like a tall order. Ask yourself what really is a company's most competitive Advantage. It's people. We know this and just like anything in a company and has to start the top. So if your leader openly showing how you care for your mental health in overall, well-being is a huge Catalyst still sleeping, soccer fans are growing up, had a couple couches and I always had one who would lead to heavy cardio workouts. He would not stay on the side to spectate to participate and I did three things and made it difficult for me to complain.
I always make sure to keep up and it always felt more dialed-in to the exercise. It's the same idea. If I like Communication in order for me to really help my clients achieve their financial goals requires that I actively listen and then respond letter employees, tell you what stresses them out. Let them tell you what, Wellness benefits, they need and then us and acting on what they tell you, for sure how serious you take that feedback and I can't help. But feel the company will win in the long run. Why? Because properly except employees will be more productive and less stressed. Next. I'd like to ask help from everyone's favorite uncle is right. The government has to play a role in this. The world economic Forum. In the Harvard School of Public Health, estimate that from 2011 to 2030. Major product is easier than mental illnesses will cost the global economy. 47 trillion dollars in his 2020 is all major diseases or all mental illnesses. But even if a portion of it is imagine how much lower that number could be.
If the government did, what it does best serve as the enforcer, but in this case, for I work play standards.
I don't know, maybe even corporate tax incentive program to help raise those standards, but the best Wellness corporate policies and initiatives backed, by a forward-thinking government, won't matter much, without help from the most crucial pillow.
That's right. Stressing managed to get a. So Dynamic, you have to play your part and it's going to benefit you and the economy.
Look up, I'm not a psychologist. Okay, but I have taken steps to develop my own mental health, and overall well-being. So here's my last two cents.
I think a crucial first step is for, everyone is to be honest with themselves about what about putting your mental physical and emotional well-being, in the rearview and the Damage it has caused.
Honest about placing public opinion about self-preservation thing. Social media honest about how we Define ourselves and what actually does sure your career contribute to a portion of who you are. But are we allowing it to the finals just a little too much. And ask is this bringing me the value I saw with what it cost me and I don't just mean the dollars for me being honest, mint tea a good hard. Look at my relationship. My thoughts courage and failure started years ago in this tournament championship game. Coach comes to me and says Rob cook, you step up we can't lose today. So I stopped up failed. We lost
Thanks for laughing.
Do good. No buts.
And I forgot to stay with me for a while. And
To the point where any opportunity to step up Grove, develop iCarly bow. My head step back and then I discovered mindfulness and I can see his development in my daily life. To this day. I live in the present then now.
Now I get it. My phone is may not be for everyone. But when I think of some of the most successful and impactful people, I see a common Trend Mastery of their mental game which includes Stress Management all about the Galloping awareness, knowledge, mint, and acceptance of your current thoughts, emotions environment, and physical state.
Right now, I didn't say never facing stress, but the management of the stress. That's the benefit again for you in the economy. I'll leave you with this. Thought. We all know the retirement is all about saving more. Now for later, what if we treated our mental health and overall well-being in the same capacity, develop and save more of you now or later in life. Doing nothing means more cost in worse less time. In other two, which can't you get back. So I start moving his cultural stress forward and start living a happier or healthier and hopefully more productive lives. Thank you.
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