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Wednesday, 07 February 2024 11:16

The Commercial Cost of Poor Mental Health

In December 2023, the Health and Safety Executive published a report titled ‘Work-related stress, depression or anxiety statistics in Great Britain, 2023’. The report highlighted how many working days were lost due to stress, depression or anxiety. Equally, it provided insight into how many workers are currently suffering from work related stress, depression or anxiety.


According to the report, 875,000 workers in the UK are currently suffering from work related stress, depression or anxiety. At the same time, work related stress, depression or anxiety accounted for 49% of all work-related ill health as well as 54% of working days lost in the 2022-2023 economic year. The report also states that 17.1 million working days were lost. This suggests that the UK workplace is suffering from a productivity loss due to poor mental health in employees.


For a business these statistics demonstrate numerous challenges. With that amount of workers suffering from work related stress, depression and anxiety, productivity is affected. These conditions impact an individual’s ability to concentrate, make decisions and perform effectively at work. Overall, it can have a ripple effect across the organisation leading to missed deadlines, reduced output which would ultimately affect the company’s bottom line. Mental health challenges can stifle innovation and creativity within an organisation. Employees may find it difficult to think creatively hindering the business’ ability to stay competitive. Moreover, there is a legal risk to a business when it doesn’t care for its employee’s mental health. Employers have a legal duty of care to provide a safe physical and psychological environment for their employees. Otherwise, there is a litigation risk. Not only does this affect the company financially but can also impact its reputation. Customers and prospects may hear about legal cases through their network and the media. This decreases customer loyalty.


By investing in the mental well-being of their employees, businesses can mitigate the commercial cost of mental health issues whilst fostering a healthier, more productive and resilient workforce.


At HR Champions, we believe that simply starting a conversation with a colleague or employee can increase a business’ chance of keeping a mentally healthy team.


During Covid-19, supporting the team’s mental health was high on the agenda of businesses. We qualified hundreds of Mental Health First Aiders. Poor mental health hasn’t gone away so it’s time to refresh and upskill you workforce with high quality mental health first aid training.


Mental Health First Aiders can recognise the early signs of work relates stress, depression or anxiety in their workmates and feel confident in initiating and holding conversations with vulnerable colleagues. This creates a team of listeners in the business who can sign post colleagues to the right support services. Businesses can avoid long-term sickness and reduce the amount of working days lost thanks to early intervention from Mental Health First Aiders.


Our next course is full. But we have just scheduled dates for our next Mental Health First Aider course; click here to book either yourself or team on. Alternatively, give us a call on 01452 331331 or email This email address is being protected from spambots. You need JavaScript enabled to view it. and find out about the mental health training opportunities we can offer you.

 

  

Read 521 times Last modified on Wednesday, 07 February 2024 11:24

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HR Champions provide first class HR and Employment Law support and advice to UK businesses; operationally and strategically. If you're an employer you'll potentially need some, if not all, of the services we offer.

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