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Everyone who has a hearing loss knows it can be stressful and affects nearly every aspect of your life; your day to day activities, your work environment, your relationships, not to mention your physical, mental, and emotional health. However, if you leave that hearing loss untreated it can be much more detrimental to you and, surprisingly, your pocketbook.
According to a study performed by the Better Hearing Institute, over 31 million Americans have an admitted hearing loss. Of these hard of hearing (HOH) Americans, only 37% are of retirement age, making the other 63% in our schools and work force. However, the most shocking statistic is only 23% of all HOH individuals are using hearing devices. That means over 24 million HOH Americans are not receiving treatment!
Citing the cost of hearing devices as a major deterrent, what many untreated HOH individuals fail to realize is studies have shown leaving their hearing loss unaddressed negatively impacts their annual household income by an average of $12,000/year. Over a lifetime, that can add up to a staggering $500,000 of lost potential earnings.
But why would having a hearing loss be so impactful on earnings? The answer is simple: most modern employment situations require verbal communication to be successful. Whether it be with coworkers, the public, or one’s supervisor, being able to follow and understand a conversation in person or over the phone is vital to workplace success. If any part of the communication chain is ineffective, it may influence how well a job is performed and could result in unemployment or a phenomenon known as underemployment.
Underemployment occurs when an employee is working at a job level below their skill set and capabilities. For the unaided HOH individual, this may be a direct result of their hearing loss due to mistakes made from miscommunication.
However, there is light at the end of the tunnel. The study also showed that the use of hearing devices mitigated the effects of the hearing loss on annual income by 50%. Imagine how many extra thousands of dollars you could earn!
And the best way to get started on taking control of your hearing—and by proxy, your potential financial growth—is to see your audiologist. They can help you determine the severity of your hearing loss, analyze the nature and degree of communication interactions on the job, and provide hearing device solutions which could improve work performance and overall quality of life.
So why wait? Contact us at 303-639-5323 today to get started on the road to better hearing AND higher earning!