It pays to support mental health
Mental health is an essential part of well-being yet has always struggled to be given the consideration it deserves. With the increasing levels of stress, anxiety and burnout at work, investing in mental health awareness training is paramount. Proven to have a significant impact on the overall well-being of employees, mental health training will also your improve workplace productivity.
It is now more important than ever to invest
During the pandemic, there was a marked deterioration in mental wellness and it has not yet recovered to pre-pandemic levels. This should prompt us to take more action. This article outlines the returns of investing in mental wellbeing and the costs to those who don’t.
Why is mental health awareness training important?
Mental health awareness training typically teaches employees about common mental health issues. The training covers topics such as stress, anxiety, depression, and burnout.
The goal of this training is to help employees understand the importance of mental health and to provide them with the skills they need to recognize and manage mental health issues.
“It’s shocking but not surprising that the cost of poor mental health to employers is now up to a huge £56 billion per year*
Emma Mamo, Head of Workplace Wellbeing at Mind. 2022
*Compared to £45 billion in 2019.
Costs to business of poor mental health
The biggest three costs to businesses of poor mental health amongst staff are presenteeism, absenteeism and staff turnover. These costs have increased by 25% since pre-pandemic days.
40% of people choosing to leave their jobs attribute their decision to leave to mental health issues.
Long hours, job insecurity, workload and stress leading to burnout are all strong drivers in peoples’ decision to resign.
Investing in mental health awareness training can improve employee retention rates. When employees feel supported and valued, they are more likely to stay with their current employer. This, in turn, leads to lower turnover rates and reduced recruitment costs.
Absenteeism attributed to mental health issues has become a growing concern in recent years, and it comes with a high price tag. The cost of absenteeism due to mental health issues was estimated at £6.1 billion in the UK during the 2020-21 period, highlighting the significant economic impact of this issue. Unfortunately, this figure continues to rise, making it more important than ever for businesses and employers to prioritize the mental health and well-being of their employees.
Presenteeism, or the act of showing up to work despite being ill, can have serious implications on one’s mental health and productivity.
Research has shown that presenteeism costs employers almost three times more than absenteeism, as it often leads to reduced productivity and long term issues.
Research by Deloitte found that for every £1 invested in mental health training, organisations enjoyed a return of £5 in the form of improved productivity and reduced presenteeism and reduced absenteeism. This demonstrates that investing in mental health awareness training is not only the right thing to do for your employees but also a smart business decision.
Investing in mental health awareness training is cost-effective in the long run. While there may be some upfront costs associated with delivering the training program, the benefits far outweigh the costs. It is a wise decision for any employer.
This training can have a significant impact on the well-being of your employees and on workplace productivity. By creating a supportive and inclusive workplace culture and providing employees with the skills they need to manage mental health issues, you are creating a healthier and more productive workplace.
If you are interested in implementing mental health awareness training in your workplace, take a look here at our accredited Mental Health Awareness Course