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Stress Management And Sorporations

There was a time when a job meant stability till retirement, recognition and rewards on retirement and pension after retirement. Times have changed now and the new mantra in corporations is ‘continuous change'. Companies meet many dangers due to the rapidly changing environment. They merge, dissolve, get bankrupt and are swallowed by larger corporations. Globalization and advances in technology have made some aspects of many jobs easier but it has also increased the complexities in the workplace through information overload, increased pressure for productivity, and a sense of insecurity in the workplace. In 1996, the World Health Organization described the stress factor as a "worldwide epidemic." Today, workplace stress is considered a huge drain on organizational resources and is estimated to cost American companies more than $300 billion a year as a result of stress-related outcomes such as poor performance, absenteeism and health costs. According to a recent study "presenteeism" is defined as the invisible loss incurred when workers are at work but not working to their utmost efficiency level because of stress related disorders such as depression, fatigue, backaches, headaches, and stomach maladies (ARP, 2007). These cost employers more than $180 billion annually in lost productivity. About one million people in this country are absent from work each day because of stress-related disorders. Disabling stress has doubled over the last six years. Studies show that 72% of Americans experience frequent stress-related physical or mental conditions. According to a survey, it has been found that the major factors that cause stress in the workplace are job insecurity, understaffing, personality conflicts, external competitive pressures and changing technology. Moreover, it is a fact that about 44% of women and 36% of men want to quit their jobs because of workplace stress.
Initially, it was Kahn (1964) who studied workplace stress in the context of role conflict and...