Workplace Stress and it’s Costs

The effects of stress in the workplace can be costly. Executive Operations Manager, Ivan Lasater discusses the costs of workplace stress and how to improve productivity.

Workplace stress can be a real problem when it comes to the bottom line. The costs according to the American Institute of Stress are around $300 billion a year. This includes the costs incurred through health insurance and worker’s compensation, lost days of work, lost productivity while at work, employee assistance programs, and even law suits stemming from illness attributed to stress. The estimated $300 billion in costs aren’t coming out of the company’s pockets alone, they are actually passed on to the consumer and create poor economic conditions for the entire country to bear.

Identifying Common Workplace Stressors

There are a number of stressors in the workplace and identifying them is important. Identifying workplace stressors is the first step in addressing them. Here are some common examples.

Common workplace stressors:

·         Boredom and monotonous work loads

·         Feeling powerless over decision making

·         Excessive hours and burn out

·         Relationships in the workplace, both social and intimate

·         Inequality such as racism or sexism

·         Poor workplace conditions

·         Accidents and injuries on the job

·         Poor management

·         No upward mobility

The physical and psychological effects of these common stressors can create problems for a business and the people who make it work. Fortunately, there are several ways in which these stressors can be addressed. Management must take a clear and effective role in addressing issues of workplace stress. It’s always in the company’s better interests to invest time and money into the health and wellbeing of their employees. It costs more money to hire and train new employees than it does to address the needs of the employees currently employed. Here are some steps that management and employees can take to address these issues.

Addressing workplace stressors:

·         Relax stringent company policies to accommodate priority needs of employees

·         Develop inclusive strategies for planning and work related goals

·         Create open door policies

·         Foster an employee friendly Human Resources Department

·         Implement Employee Assistance Programs (EAP’s) for individuals to cope with stress and addiction, in and out of the workplace

·         Evaluate and lighten the workloads if need be

·         Offer incentives and rewards

·         Give praise and recognition

·         Make healthy options available in the workplace. (i.e.) exercise areas, healthy food, break areas with pleasant scenery and plenty of room

·         Companywide monthly meetings and the freedom to air grievances

Summary

The symptoms of workplace stress can directly affect workplace productivity if not addressed and dealt with appropriately. Employees who experience stress are not always capable of dealing with it in a productive way, (For tips on a healthy balance visit Ivan's blog by clicking this link) and are often times powerless to change the conditions which create it. Management has a role and a responsibility to address the issues that affect productivity and morale in the workplace. Creating strategies to deal with workplace stress can boost the bottom line and enhance the morale of the workplace at the same time. 

Sustainable Energy, An Oil Man’s Perspective

Oil and Gas Executive, Ivan Lasater gives us his perspective and insight into sustainable and alternative energy resources.

Introduction

My name is Ivan Lasater and I’m an Executive Operations Manager for the Petroleum Industry. I am a Production Recovery Enhancement Specialist and I engineer systems that recover up to 99% of the oil vapors found in oil storage tanks. I am also an environmentally conscious individual who lives in Moab, Utah and loves the outdoors.

Observation

For over a century now, Fossil Fuels have been the backbone of energy resources in the United States and around the world. Alternative energy supplies are being sought out and developed at alarming rates at the behest of environmentally conscious consumers bent on wiping fossil fuels from the grid. The only problem is the development and efficiency of these alternative resources are still in their infancy and though technology and research into sustainable energy resources has been growing, the cost of implementing alternative energy coupled with the environmental impact are still lending fossil fuels relevance in today’s energy market.

Renewable Energy

By renewable energy, I mean resources like hydroelectric dams, wind turbines, and solar power. These are referred to as renewable energy because we are using the Earth’s natural resources to create energy and they have very little environmental waist as a result. Also, renewable energy doesn’t deplete the resource from which it is derived, (i.e.) sun, water, and wind. But just because something doesn’t necessarily produce a significant amount of waste doesn’t mean it has an insignificant impact on the environment.  

A Shining Example

Let’s take solar energy for example. Harnessing the power of the sun is a great idea. There are normally two ways in which we do this. They involve storing the sun’s energy in cells that will produce electricity and harnessing the sun’s energy to heat water. This can have many useful applications on a small-scale level like individual homes and tracks of land. However, in order for it to be efficient on a large scale it would require vast expanses of land which would have an adverse effect on animal habitats. A great many consumers aren’t aware of the negative impacts that renewable energy resources could have on animal habitats and their pocket book at this point in their stage of development. This leaves fossil fuels as the industry leader in energy, simply by default. To condemn fossil fuels and their development now would be the equivalent of cutting off our nose despite our face. Here are a list of pros and cons concerning renewable and sustainable energy resources.

Pros

·         Renewable energy has proven to have a less harmful impact on the environment than fossil energy

·         Renewable energy is sustainable and doesn’t deplete it source

·         Organic garbage can be employed as biomass to create sustainable energy

·         Solar and wind energy can potentially create much more energy than fossil fuels to meet the worlds demands

·         Green energy could potentially create jobs and boost the economy

Cons

·         Large tracks of land required for solar and wind energy

·         Toxic heat transfer fluids required

·         Toxic chemicals used in the manufacture of technology and batteries

·         Erosion caused by wind farms

·         Roads and facilities built on public lands to access solar and wind farms

·         The building of dams for hydroelectric power disrupts natural habitats and migration patterns

·         Dams flood rich farm land and displace inhabitants

·         Damns change the chemical and biological makeup of water downstream

·         Alternative energy is expensive to install and maintain

·         Consumers won’t see a cost return on their renewable energy for an average of 20 years

·         Alternative sources to renewable energy may be required for winter months and unpredictable weather patterns

Summary

Now this is just one man’s observation. I have nothing against renewable and sustainable energy. I believe that with the proper amount of research and development we can harness several alternatives to fossil fuels and make them environmentally safe as well as cost effective. I also believe that the jobs we can create in this area will strengthen the economy and provide opportunity for education in cutting edge technology.  But I don’t think we’re there quite yet. In the meantime, investing money into the technological development and environmental impact of fossil fuels may prove to be the most inexpensive and practical way of providing energy to the nation as a whole.