Deloitte’s has published an interesting report on mental health in the workplace (Mental health and employers – Refreshing the case for investment). It last published the report in 2017. The report highlights the financial cost to employers of poor mental health in the workplace and the financial benefits of employers investing in employees’ mental wellbeing. The report estimates that the cost to employers of poor mental health in the workplace is £42 to 45 billion per year. This is a 16% increase from the 2017 report. The figure is made up of £7bn for absenteeism, £9bn in staff turnover, and a staggering £27 to 29bn from presenteeism (i.e. coming into work despite poor mental health and underperformance). The report notes that employers have made some improvements in how they deal with employees’ mental health but also that there are changes in the challenges employers face. The report also finds that overall employers can expect to make a return on investment into employees’ mental health of £5 for every £1 spent, with preventive large-scale initiatives yielding the biggest return. Read the report HERE.
It is clear that employers need to address mental health in the workplace. You can read further articles on managing stress and your obligations to employees HERE.
Join our Seminar
Freeths are also running a series of interactive presentations helping guide employers through the process of dealing with staff health issues proactively. The events will be run in March and April across nine of our offices in a series of breakfast (8.30 – 10.30am) and lunchtime (12.30-2.30pm) sessions. If you are interested in attending click HERE to register.
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