Poor Sleep is Poor Business
There is a costly truth behind a sleep deprived workforce. It’s fair to say many of us have been part of a water cooler conversation at work when a colleague has mentioned how tired they are.
Usually, there’s an empathetic ‘me too’ or a compassionate ‘you’re not alone’ and then everyone shuffles back to their workstation without much thought.
But just how costly is sleep deprivation for businesses and the economy?
Sleep and Respiratory Physiologist Professor Danny Eckert says it’s having a significant impact.
‘’To put some numbers behind it, in 2019 in Australia alone, the estimated cost of inadequate sleep effecting four out of ten Australians was $66 billion.’’
‘’It’s a huge cost to our community,’’ according to Professor Eckert.
Let's Talk About The Facts...
Loss of Productivity
You wouldn’t go to work drunk.
But did you know severe sleep deprivation has the same impact as being intoxicated?
‘’If you’ve been awake for 19 hours in a row, your blood alcohol equivalent is .05,’’ according to Professor Eckert.
If you’ve had less than five hours sleep and head to work, your body and mind isn’t capable of performing tasks at its best.
Research conducted by the Sleep Foundation indicates a lack of sleep makes it challenging to maintain focus, attention and vigilance which can lead to mistakes or omissions.
The estimated cost of loss of productivity due to poor sleep is more than $17 billion
People who suffer from a lack of sleep are more likely to take days off.
Australia’s Sleep Health Foundation suggests tired employees who have no other underlying chronic health problems take an additional two days off each year compared to those who get enough sleep.
Adequate sleep also impacts the immune system. Without enough shut eye, people are more susceptible to getting sick and needing time off work to recover.
Many jobs rely on collaboration, teamwork and communication.
Yet those key functions can be quickly derailed by sleep deprived employees.
Professor Eckert says people who don’t get enough sleep are ‘’more likely to be moody, make rash decisions and have more conflict with work colleagues.’’
Sleep also has a direct link to depression and anxiety.
Without enough sleep, you’re more likely to suffer a mental health disorder which can lead to absenteeism and lower productivity.
Sleep and safety go hand in hand.
A lack of sleep causes a large proportion of workplace injuries, including motor vehicle accidents, due to slow reaction times and poor concentration.
The Sleep Health Foundation believes Police departments should devote as much attention to tired and fatigued drivers as they do to speeding and inebriated ones.
It’s estimated workplace injuries as a result of sleep deprivation cost the Australian economy more than 1 billion dollars each year.
It's Time For A Wake Up Call
It’s easy to see how important a good night’s sleep is, and not just from a personal perspective.
The good news is that there are numerous ways businesses can positively influence their employee’s approach to sleep health - maybe it’s an email lockout after 6pm, a sleep challenge or a tracker.
If you’re interested in encouraging better sleep health amongst your team, start your journey with the Hoap platform today.