The business impact of poor mental health
The impact of poor psychological wellbeing on the economy is significant. Work related stress and other mental health conditions are estimated to be the biggest occupational health problem in the UK and the main causes of employee absence.
Research suggests that psychological wellbeing is directly related to performance. Therefore, it is important to recognise the links between mental health issues and workplace productivity. Mental health problems can have a direct impact on staff turnover, presenteeism, absenteeism and brand reputation.
Employers play a vital role in observing changes in behaviour in their employees and need to be able to recognise signs and symptoms and identify when support or help may be needed.
Early intervention and signposting support can lead to businesses saving an average of £2500 per fortnight in prevented sick leave and of course the employee feeling positively supported by their employer.
Mental health problems cost the UK economy at least £117.9 billion annually
Source: Mental Health Foundation and the London School of Economics and Political Science (LSE)
Poor employee mental health is costing UK businesses £56bn in 2020-21
Source: Deloitte, Mental Health & Employers – The case for investment, Pandemic & Beyond 2022
41% of employees said their mental health had worsened during the pandemic
Source: Mind Workplace Survey
The employee impact
Assessing the impact of poor mental health on employees
An organisation’s culture, and the extent of awareness and training around mental health, will affect whether employees and line managers have open and supportive conversations. Employers should take the key steps below to better support employees and demonstrate their commitment to promoting positive mental health.
28% of employees have either left in 2021 or are planning to leave their jobs in 2022, with 61% citing poor mental health as the reason they are leaving
61% of resignations were due to poor mental health
“Burnout among employees has been more evident during the pandemic.”
Source: Elizabeth Hampson, Deloitte director and author of ‘Mental health and employers: the case for investment – pandemic and beyond’
Govox exists to provide insights for wellbeing leaders
It does this via an online mental health platform, which is steeped in innovative technology and provides data and insights to pinpoint at-risk individuals. Working in collaboration with our network of specialist mental health partners, we upskill organisations to spot poor mental health and negotiate sometimes-difficult conversations.
We make sure those struggling with their mental health are given the forum to be heard – by their peers, employers and anybody in a position of trust.