Americans are stressed out, and it’s costing billions. Consumers are spending more money than ever to combat the effects of stress, and companies are struggling with how to manage the business-related costs. Next year, according to Market Data, Americans will pay out an estimated $14 billion on products and services to reduce stress—up $3 billion from the amount consumers spent last year.
U.S. businesses outlay approximately $300 billion per year as a result of absenteeism, employee turnover and health expenses linked to stress, according to the American Institute of Stress. And medical claims filed by “highly stressed” employees cost nearly 50% more than claims filed by less stressed employees, according to the Health Enhancement Research Organization.