Peter Urwin, Professor of Applied Economics and Director of the Centre for Employment Research at the University of Westminster, was interviewed by Business Live about the cost of recent industrial action to employers in Northern Ireland.
The article discusses how in the past few months, industrial action has swept across several sectors of the Northern Irish workforce, with workers striking over pay and working conditions.
Work carried out for the Labour Relations Agency estimates that industrial action has cost employers in Northern Ireland over £850m a year.
Speaking to Business Live about the impact of workplace conflict, Professor Urwin said: “This figure was derived from historical data sources. With the wave of industrial disputes experienced over the last 12 months, the costs could be as high as £1 billion.”
Professor Urwin also co-authored research funded by Acas, which found that workplace conflict costs UK employers almost £30bn annually, including £11.9bn from resignations, £10.5bn from disciplinary dismissals, and £2.2bn from sickness absences.
On the costs of workplace conflict, Professor Urwin added: “Workplace conflict can create stress, anxiety, and depression, and cost a business financially. It’s clear from this research that effective and early conflict management not only improves the wellbeing of workers, but also maximises productivity and saves organisations money.”
Read the full article on Business Live’s website.
