Attention to mental health is the “secret weapon” of today's successful company
What is the state of mental health at work?
Poor mental health cost UK employers up to £1,717 per employee in 2019. In 2020 - 2021, the annual cost of mental health-related absenteeism, presenteeism and labour turnover had increased by 25% to hit a record high of £53-56 billion.
Younger people are struggling most.
45% of 18–29-year-olds left their job in 2020-2021 or planned to leave in the next 12 months – 2 in 3 driven by poor mental health
30-49 age range showed highest levels of burnout
Deloitte Mental Health and Employers, March 2022
Poor mental health can include:
Symptoms of anxiety, depression, stress, or burnout
Difficulty with thinking, reacting, making decisions, feeling emotion
Headaches, poor sleep, or other physical symptoms
Mental wellbeing is a state of emotional resilience that enables people to:
Cope with the stresses of everyday life and work, and adapt to change
Maintain positive self-esteem and relationships
Express emotions, and engage with the world in a productive way
The percentage of people experiencing mental health problems was already increasing before the pandemic. COVID-19 has changed the landscape dramatically and put mental health and wellbeing firmly onto the agenda of any company who wants to flourish in the future.
Why has COVID-19 had such an impact?
Insecurity
Remote working
Disconnection
Virtual overload
Pressure to perform and deliver like never before
Burnout
Need for a robust immune system
Why does it cost employers?
Mental health problems at work result in absence and people leaving jobs. But there is another hidden cost, which accounts for almost half of the total bill to employers: presenteeism – the lost productivity of people continuing to go to work even when they feel unwell. The exact reasons for presenteeism vary according to each work culture, but include pressure, job insecurity, loyalty, and the stigma of admitting poor mental health.
Breakdown of mental health related costs in 2020-2021 (UK)*
*Deloitte Mental Health and Employers, March 2022
What is the commercial imperative for improving mental health and wellbeing at work?
The ethical case for supporting mental health and wellbeing among employees is obvious, but the economic argument is now becoming more evident.
There is more general awareness of the nature and importance of mental health, and employees expect more support now than they did before. An employer’s attitude to mental health – and the way they demonstrate this in practice – is a factor that increasingly influences someone’s decision to work at a company.
It starts at the top.
Leaders who lead well lead by example. This means caring about your own mental wellbeing and showing you care about others in the organisation. People respond to authenticity; when staff perceive that the CEO genuinely values mental health, this has a tangible positive impact on the work culture and employee experience - and key indicators of poor mental health, like absenteeism for example, plummet. People who work for a company that cares are far less likely to suffer from stress and burnout, and far more likely to be engaged and perform better.
Performance
Employers need people to be the best they can be
Retention
Employers need to keep the best people
Recruitment
Employees increasingly want to know about employer’s approaches to mental health
More productivity
Less absenteeism, less presenteeism, less staff turnover
ROI
Investment in staff mental health yields an estimated return of £5.30 for every £1 spent*
*Deloitte, March 2022
How can People Horizons help?
By resourcing your people so that they can be a resource for you
By providing tangible evidence you take mental health seriously
Get in touch
Talk to us about your organization and what we can do for you: