The Global Benefits Attitude Survey is based on a poll of more than 22,000 employees, of which 2,000 are based in the UK.
It revealed that 57% of employees who claim to have high stress levels report being disengaged. This is compared to only 10% who describe their stress levels as low.
The main cause of stress among employees is a lack of staff resources, with 53% citing this as the biggest factor. Conversely, only 15% of senior managers accept that this is a problem in their organisation.
Around one-third of employees asked (34%) cited technology available outside work, such as remote email access, as the biggest source of stress for their staff. However, only 8% of the employees themselves agree.
Towers Watson senior consultant and wellbeing specialist Rebekah Haymes urged companies to better understand the reason their workforce is stressed, calling it "vital" to lowering stress levels in the workplace.
"These can be specific areas that are not immediately visible to management if good communication and feedback structures are not in place throughout the organisation," she said.
"Without this, even the most well-meaning management team can find itself focusing energy and resource on the wrong areas.”