Belgian insurer estimates sleep deprivation at work costs companies €9 billion a year

According to a survey by KBC Verzekeringen, the financial impact of sleep deprivation in the workplace is substantial. “At least €9 billion per year,” the study concludes.

In May, 508 employers and 259 employees were surveyed. Around 43% of employees and 20% of employers reported experiencing sleep issues. Nearly four in ten employees cited work-related causes, while among employers, that proportion rose to over three-quarters.

These sleep problems are associated not only with health and wellbeing issues, but also with a tangible impact on the workplace. Those affected may experience reduced concentration, diminished creativity, lower problem-solving capacity, irritability, and decreased motivation, KBC Verzekeringen notes.

Financial consequences

The insurer also attempted to quantify the financial consequences for businesses. Absenteeism and presenteeism (being present at work but performing below par) alone are estimated to cost companies between €4.5 billion and €5 billion annually.

Furthermore, since more than one in eight workplace accidents may be linked to sleep deprivation, the direct costs to insurers are estimated at around €165 million per year.

Wider consequences

However, the study stresses that these figures represent a significant underestimation of the true cost. There are wider consequences of sleep deprivation that are harder to express in monetary terms, such as “loss of added value, the impact of errors, effects on colleagues, reduced employer attractiveness, additional costs from long-term absence due to burnout, and reintegration expenses.”

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“Research in five larger economies, including Germany, indicates that insufficient sleep can account for between 1.35% and 2.92% of gross domestic product,” the report states. “For Belgium, using a conservative estimate of a 1.5% impact on GDP, this would represent a loss of approximately €9 billion.”

The actual overall cost to society is undoubtedly much higher

Broader societal costs, such as the burden on social security systems, are not included in this estimate. “The actual overall cost to society is therefore undoubtedly much higher than the calculated €9 billion,” KBC Verzekeringen concludes.

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