The economic costs of addiction: Understanding the grave financial impact

Drug addiction affects millions around the world. The causes may be due to several factors. This can include environmental factors, mental disorders, and even genetic predisposition among others.

It can even cast a dark shadow in terms of the economy. In this guide, we’ll discuss what the economic costs of addiction are. If you or someone you know is dealing with addiction, it’s important to know what your options are.

A New Jersey drug rehab center will be able to help. They’ll help put you on the right path to ensure you have a treatment plan in place to beat addiction. Now, let’s get started with examples of the economic costs addiction can have.

The costs are immeasurable, but significant

While it’s near impossible to measure the economical costs of addiction, the amount is significant enough. What we can tell you is that this can lead to several negative factors.

This can include: increased healthcare costs, increased crime rate, and a loss of productivity. The estimated costs total out to around $740 billion. This number may increase over the course of the next few years.

The reality is that there needs to be measures in place. Each employer must establish certain policies regarding drug use.

What should employers do about drug abuse and addiction?

Employers should have an idea to tackle the drug abuse and addiction issue. There are policies already in place regarding the uses of drugs in the workplace. For example, drug use is prohibited on company property.

Meaning no employee should use drugs while on company property, regardless if they are on company time or not. Likewise, they must not be under the influence of said drugs when they arrive for work or during their normally scheduled hours.

Employers can reserve the right to send the employee home if such rules are broken. It can also lead to further penalties such as termination of employment. The reality is that those who are dealing with drug abuse or addiction can risk the loss of their jobs.

That’s why it is important for employers to take necessary precautions. They may need to learn how to spot signs of addiction (even the most subtle types). At the same time, they will need to coordinate with local substance abuse and mental health counselors.

You should also take a day for your employees to educate themselves on drug abuse and addiction. This can be a seminar on the risks and dangers of it and how it relates to their employment. Explain that drug abuse and addiction can lead to someone being robbed of their productivity.

Likewise, it can also lead to a lower quality of work. Let’s not forget that it can also lead to an increased risk of work related accidents and injuries. If someone on your staff is seeking help, you can give them a safe place to speak to you.

You can also give them access to resources that will pertain to the situation. As an employer, you must understand that your employee will be missing work while they receive treatment. You will need to take the necessary measures to ensure that the employee takes the necessary amount of time off.

Ensure that after their treatment is complete, they can return to their position. This can be something like a leave of absence that they can take for the duration of a certain phase of their treatment.

How can addiction affect personal finances?

Addiction is expensive. People can spend a large amount of money to obtain drugs. For this reason, it can lead to a strain in their finances. Which means that a person will have a hard time paying their necessities such as rent, food, vehicle insurance, and other necessary expenses.

Furthermore, it can lead to the loss of these services and necessities. This can also include housing as well. One of the worst things that could happen to someone with addiction outside of overdose is homelessness.

Those dealing with addiction may lose their employment – which is likely their main source of income. This can worsen financial difficulties to the point where it may be hard to recover from them. Keep in mind that these financial consequences don’t affect a person individually.

This can extend to members of your family. When facing financial difficulties, a person may manipulate a friend or family member to borrow money off of them. This money may be intended for purchasing drugs.

It may get to the point where a person may steal personal items from others. Then selling or even pawning those items in exchange for cash.

What to do now?

If you or someone you know is dealing with addiction, it’s never too late to seek help now. It may be a challenge to make a decision. However, the sooner you act, the better.

As an employer, you will need to review your current drug policy. Make revisions and implement new ones when and where necessary. You can also remind your employees that if they are dealing with a drug abuse problem, they can ask you questions in private.

Remind them that you can offer them a safe place to talk. Also, remind them that you have information and resources they can access. It’s important that drug abuse and addiction is taken care of no matter if it’s at home or at work.

Final Thoughts

Drug abuse and addiction have created economic costs like nothing else. That is why it is important to consider a strategy that ensures a person gets the help they need to beat it. Addiction will also go beyond economic costs.

It can cost someone’s life. The sooner someone gets help for their addiction, the better. It takes the right plan and actions to get it done.

A life-altering decision will need to be made in order to keep addiction out. The rewards will be immense for someone who gets the help they need. The same applies for the economy.