According to the Health & Safety Executive, approximately 12.5 million working days were lost in the year 2016/2017 as a result of Stress, Depression or Anxiety related illness. They estimate that 11 million days are lost as a result of workplace stress alone (absence and / or presenteeism).
A number of sources state the cost of mental ill health to the UK economy between £60 – £100 billion. The cost to businesses in the UK is estimated at £26 – £35 billion. With 1 in 4 people in the UK experience a mental health issue or illness at any given time, it’s never been more important to come together to work towards a mentally and physically healthy mind and body.
The above costs show it makes excellent business sense to ensure employees overall health and well-being is not only maintained but enhanced. A mentally and physically healthy workplace will increase productivity and performance, and encourage employee retention.
Following The Stevenson Farmer Report commissioned by the UK Government, Deloitte produced a report in October 2017. This showed a possible 8.1% return on investment from a pro-active cultural approach and raising awareness of mental health & well-being in the workplace.
A number of prominent UK business partners pushed the UK Government to make good on their pledge for equality of mental and physical health in the workplace in November 2018. They stated not only the huge costs noted above, but also the affect on the individual and their relationships.
Could you do more to support your colleagues by creating a culture that is open and honest? Do you need support to break the stigma around mental health? Is your business giving mental and physical health equal importance in all that you do? Have a look at how you could start your journey here.