According to the Centers for Disease Control (CDC), over 81 million or ⅓ of American adults are chronically sleep deprived and this number is rising. The problem is so prevalent that the CDC has declared insufficient sleep a “public health epidemic”.
In 2016, Rand Europe published the study, “Why Sleep Matters, the economic costs of insufficient sleep” where they presented the causes, consequences, and related economic costs of insufficient sleep. The study found that the US loses up to $411 billion dollars a year due to sleep deprivation. Sleep deprivation is also linked to lower productivity, higher mortality risk, acute health risks, and workplace accidents which can have a detrimental effect on businesses.
Productivity in the workplace is affected by insufficient sleep with over 9.8 million hours lost a year. Workforces are smaller, have less skills, and sleep deprived workers tend to be less attentive and absent more often. In fact, workers who sleep less than 7 hours a night lose 10 days per year due to absenteeism or presenteeism.
Infographic by Optisom