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Good mental health can benefit your business

Alex Pearl • May 27, 2020
Recent events have forced over 50% of UK employees to work from home. Businesses have faced many challenges due to the pandemic. Many have been forced to implement a digital transformation strategy and operate a flexible working policy. Ensuring your home workers receive mental health support has become even more important.
It’s not unexpected that losing your job can impact your mental health, however many employees suffer with mental distress in work. This can be brought on by poor treatment, anxiety about job security, status or procedural changes. This can have wider implications on the business and the individual as it impacts performance, motivation and organisational effectiveness.

The increasing cost of mental distress

According to a study conduct by the Centre for Economics and Business Research, the business cost due to absenteeism and reduced productivity because of poor mental health is approximately £73.8bn. It is set to rise by £14bn to £87.8bn by 2025. How many days did your company lose last year as a result of absences due to mental health issues, stress etc? That is just one of many costs to consider. Also, you need to consider the cost of managing the absence, the cost of providing cover and then the cost of reduce productivity for those that choose not to take sick leave and stay in work.

The study suggests that UK businesses could save £38.1bn by 2025 if they decided to tackle this. This can be done by investing in specialist early interventions, training mental health first aiders and offering flexible working. Another study indicated that 82% of contact centre staff reported lower stress levels when flexible working is available.

Management is essential

People managers and senior leadership teams generally understand that appreciating individuals’ experience in the office improves performance. Staff wellbeing is becoming increasingly important and should be part of any people managers training programme. Forward thinking managers and leaders are focused on raising awareness and addressing mental health in the work place. 
 
Businesses that focus on coaching and training managers benefit from an increase in people management performance. Companies with a low people management performance could secure a 19% productivity gain if they are able to bring it in line with UK average.

Become an advocate of new ways of working

Mental health illness has become prevalent in recent years and will continue to a topic of discussion for many more to come. As medical research into mental health continues to progress, new and improved treatments will be developed. But what can a business do today to improve mental health in their workforce?

Physical exercise is well documented that it improves mental health. Offer a cycle to work scheme, discounted gym memberships or even holding fitness classes in the office. Train a number of your staff to become mental health first aiders and have an employee assistance programme in place where your staff can talk to someone over the phone in a confidential setting. Invite expert speakers at lunch time to offer training on personal resilience and financial wellbeing. As already mentioned, flexible working will provide a massive boost to your workforce wellbeing.  

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