Home Business NewsBusinessSME employees are more likely to suffer constant stress

SME employees are more likely to suffer constant stress

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12th Jul 18 3:54 pm

Working in a small business is twice as stressful compared to larger enterprises, according to research from HR and payroll specialist Moorepay. The study found that 12% of employees working in firms with fewer than 50 employees suffer from stress on a constant basis, compared to 8% in larger companies.

The Health and Safety Executive reports that over 11 million days are lost at work a year because of stress, costing the UK economy over ยฃ5 billion each year. Businesses with smaller workforces are hit the hardest as they often donโ€™t have the additional resources to fill the gaps.

Despite this, many SMEs struggle to support their staff and alleviate work pressures. Moorepayโ€™s research found that half (47%) of small businesses donโ€™t provide mental health support to staff, compared to the national average of a third (34%).

Employees across businesses of all sizes agree on what would help combat stress at work, with flexible working (44%), reducing working hours (34%) and offering access to counselling (34%) coming out as the top three initiatives.

โ€œThere are many advantages to working in for a small firm, but these businesses often lack the time and resources to devote to wellbeing and mental health initiatives,โ€ explains Andrew Weir, Employer Services Manager at Moorepay.

โ€œBusinesses, whatever their size, have a duty of care to support their employees. Supporting staff with stress or other mental health issues doesnโ€™t have to be expensive or involve a complete process overhaul. Many effective initiatives are simple to introduce and within easy reach for many smaller organisations,โ€ adds Weir. โ€œInsight in people data is crucial to helping smaller firms identify warning signs and provide help and support where itโ€™s needed. This includes absence, training and progression data. Ultimately this will have positive impact on productivity, and the bottom-line.โ€

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