Finshots Daily

The economic cost of toxic workplaces

9 snips
Sep 11, 2024
Toxic workplaces come with hidden economic costs that affect mental health and productivity. Employee dissatisfaction acts like a slow leak, leading to high attrition rates. Employers often hesitate to tackle these issues, despite the benefits of a supportive culture. Positive change is possible with better management and a healthier work environment. Understanding these dynamics is crucial for retaining talent and boosting overall performance.
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ANECDOTE

SEBI's Toxic Work Culture

  • SEBI employees complained about toxic work culture, including unrealistic KRAs and public humiliation.
  • This reportedly led to increased mental health issues and the need for expanded counseling services.
INSIGHT

Economic Impact of Toxicity

  • Toxic workplaces harm the economy through decreased well-being, high attrition, and reduced productivity.
  • In Australia, mental health-related absenteeism costs businesses $13.6 billion annually.
INSIGHT

Quiet Quitting in India

  • Despite toxicity, many Indian employees can't quit due to responsibilities and job market conditions.
  • They often resort to "quiet quitting," doing the bare minimum, impacting productivity and innovation.
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