Poor health habits are expensive for companies. Annual health-related productivity losses cost employers US$ 530 billion, according to research published in the Journal of Occupational and Environmental Medicine. As are the costs of mental health problems: in the United Kingdom, they were 45 billion euros last year, according to Deloitte. However, the opposite is also true: research shows that companies’ efforts to promote a culture of health and well-being pay off. A healthy workforce generates lower healthcare costs and greater productivity. Additionally, many studies link employee health and well-being to business metrics.

According to to Deloitte’s report Mental health and Employers, people’s perception of their own mental health has improved over time but has not yet returned to pre-pandemic levels. Despite this positive perception, 24% of the survey respondents say they have been diagnosed with a mental health condition such as depression or anxiety. Furthermore: 63% of respondents had experienced at least one characteristic of burnout — feeling of exhaustion, mental distance from their job, or decline in performance at work.

The study found that, as a result, people are leaving their jobs — 16% have said they were planning to leave a job in the next 12 months, and 11% had left their job in the previous 12 months. Almost 60% said it was somewhat, largely or entirely due to personal mental health and wellbeing-related issues.

“Over the years, Deloitte’s research has recognised the importance of good mental health in the workplace, and how employers can support employees’ mental health and wellbeing. It is not only the right thing to do, but it is also good for business,” said  Elizabeth Hampson, Life Sciences and Health Innovation Partner at Deloitte Consulting and leader of Deloitte’s European Health Equity Institute. “We found that people expect more support from leadership, and leaders need to set the tone at the top of their organization, keep mental health high on the agenda, and consider the requirements of working parents.”

Actions to foster a mentally thriving workplace and realize returns on investment

The authors outline the following recommendations:

• Sign up for the Global Business Collaboration for Better Workplace Mental Health pledge.
• Set the tone at the top of their organization and keep mental health concerns high on their agenda and should find the best way to spread awareness and understanding across the whole organization, considering the special needs and requirements of working parents. 
• Commit your organization to tackle the stigma commonly associated with poor mental health through a variety of training and education tools, and stimulate more open conversations about mental health and address the implications of stress and burnout among employees.

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Source: Deloitte UK