Workplace bullying is bad for business; it leads to decreased productivity, lower morale, increased absenteeism, and attrition.
Keeping a bully on staff is the equivalent of burning a big pile of money in the back of your building. But how much does it cost, exactly?
The Workplace Bullying Institute (WBI) explains the hidden and not-so-hidden costs of allowing bullying in the workplace.
- Turnover: Combined salaries of departed workers x 1.5
- Opportunity lost: Lost revenue
- Absenteeism: Number of missed hours x hourly rate
- Presenteeism: Total salaries of checked out workers/2
- Legal defense: Varies
- Workers comp: Varies
- Turnover: $75,000
- Opportunity lost: $30,000
- Absenteeism: $250
- Presenteeism: $50,000
- Legal defense: $30,000
- Workers comp: $2,000
- TOTAL: $187,250