Even before COVID-19, the cost of workplace stress was high: $500 billion to the US economy, 550 million workdays per year,1 60% to 80% of all workplace accidents, up to 90% of doctor visits,3 and worst of all, 120,000 annual deaths. To no surprise, the pandemic and its effects exacerbated job stress for many people. To name just a few, these include illness and lost loved ones, heightened racial, gender, and disability inequities, an overburdened healthcare system, a turbulent economy, supply-chain disruption, and shifting expectations around work. Overall, a striking 94% of workers reported experiencing increased stress in 2021.
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Today, technology empowers small businesses to compete with the world’s corporate giants in the global marketplace, and social media allows public opinion to turn on a dime.
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Deloitte’s Global Human Capital Trends Report 2016, which reports the findings from a survey of more than 7,000 business leaders in 130 countries, showed that companies are placing a new emphasis on deconstructing their traditional hierarchical structures, “decentralizing authority, moving toward product- and customer-centric organizations, and forming dynamic networks of highly empowered teams that communicate and coordinate activities in unique and powerful ways.”
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