The valuable role of Workplace Mental Health
As the world continues to grapple with the aftermath of the COVID-19 pandemic, the value of mental health in the workplace has never been more significant. With the mounting evidence regarding the immense benefits of a mentally healthy workplace, it’s crucial for organisations to pay attention and adapt.
Here, we delve into the financial and holistic advantages of investing in mental health training and support for employees, and look at the value to both companies and employees.
Deloitte has put forward an eye-opening statistic. “Employers see a return of £5.30 on average for every £1 invested in staff mental health.” This presents a compelling economic argument for putting well-being at the forefront of any strategic business plan.
An article from theHRdirector.com explored the costs to businesses even further, stating “The cost of poor mental health is equivalent to around 5 percent of the UK’s gdp.”
These figures are startling and are one of the many reasons why organisations are spending more time and resource on supporting the mental health of their workforce.
In Australian, absenteeism is an extremely costly problem, averaging around $3,500 per employee per annum, with the cost of absenteeism being between 7% and 8% of total payroll costs.
The “Identifying the causes of workload stress and tackling different management styles” report from PeopleManagement highlighted that workplace absences have surged to their highest levels in a decade. With UK employees being absent an average of 7.8 days, a full two days more than the pre-pandemic rate.
These findings emphasise the need for organisations to adopt a more systematic and preventive approach towards the health and well-being of their employees. Interestingly, mental ill health was cited as a primary reason for both short-term (39%) and long-term (63%) absences, underlining the pressing concern surrounding mental health.
Understanding the underlying causes of sickness absence is paramount. Common culprits include heavy workloads, management styles, and non-work-related factors. Employees facing a spike in their workload often feel they’re losing control of their routines, leading to a rise in stress levels.
It’s noteworthy that many employees might be hesitant to disclose their mental health-related absences, and that the real figures concerning such absences might be much higher than reported.
While organisations have started acknowledging mental health concerns, there’s still a long way to go. For a tangible impact, businesses must reevaluate their work structures, rather than merely fixing the aftereffects. Training is a pivotal element in this holistic approach. Managers must be equipped with the necessary skills to identify early signs of stress and mental health challenges and take proactive measures.
Line managers have a significant role in championing employee well-being. If there is a gap in their skills and confidence levels when it comes to handling these responsibilities, then the impact can be huge. Organisations need to invest in strengthening their leaders' abilities, focusing on emotional intelligence and constructive leadership behaviors.
The long-term benefits are clear: companies that emphasise employee health and well-being report more positive outcomes. We have often explored the broader advantages of a mentally healthy workplace. Beyond reducing absenteeism, such a workplace fosters job satisfaction, promotes productivity, and becomes a pivotal factor in attracting and retaining talent. It's not just about managing mental health issues; it's about fostering an environment that inherently supports the mental well-being of its members.
Companies should invest in mental health not just for economic gains but for the holistic betterment of their workforce. In these challenging times, a mentally healthy workplace is not just an asset—it's a necessity. If you would like to explore further how your company can benefit from such improvements, please get in touch. Email enquiries@enmasse2.com
sources:
deloitte-uk-mental-health-report-2022.pdf
How measurement can inform workplace mental health strategy | theHRD (thehrdirector.com)
Direct-Health-Solutions-Managing-Absenteeism-In-Australia-A-practical-guide.pdf (hubspot.net)
