Poor mental health among employees poses a significant financial burden on UK employers, costing approximately £51 billion annually. This figure, reported by Deloitte, encompasses various factors such as absenteeism, presenteeism (working while unwell), and staff turnover. Notably, presenteeism alone accounts for around £24 billion each year, highlighting the substantial impact of reduced productivity when employees are not at their optimal mental health.
The Mental Health Foundation estimates that 15% of UK workers have an existing mental health condition. In the 2022/23 period, approximately 875,000 workers experienced work-related stress, depression, or anxiety, leading to 17.1 million lost working days. These statistics underscore the widespread nature of mental health challenges within professional settings.
Investing in mental wellbeing initiatives yields a substantial return on investment (ROI) for employers. Research indicates that for every £1 invested in mental health interventions, employers can expect an average return of £5 due to reduced absenteeism, presenteeism, and staff turnover.
Moreover, allocating approximately £80 per employee towards wellbeing initiatives can result in a net saving of around £600 per employee, primarily through decreased presenteeism and absenteeism.
A significant number of UK organisations are recognising the importance of mental health, with 54% reporting a strong focus on mental health in their wellbeing initiatives. However, there remains room for improvement, as only 33% of companies report on the implementation of their mental health programs, and less than a quarter of CEOs formally signal their commitment to mental health initiatives (corporate-adviser.com).
Prioritising corporate mental wellbeing programs is not only a moral imperative but also a strategic business decision. By fostering a supportive environment and investing in mental health resources, companies can enhance employee satisfaction, reduce financial losses associated with poor mental health, and improve overall organizational performance.
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The Workplace Mindfulness Co. provides you with the support, tools and guidance enabling you to support your employees mental wellbeing.
The Workplace Mindfulness Co. is a trading name of Workplace Mindfulness which is a registered company in England under the company registration number: 15394075
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