Poor mental health costs UK employers up to £45 billion each year

The ongoing cost of living crisis has caused huge financial pressures for many people and is currently one of the leading causes of stress in the UK.  With a 23% increase being noted from 2022. A recent survey found that people are feeling anxious, stressed, and hopeless due to their current financial situation. The same survey found that financial concerns were impacting on people’s day-to-day activities, with 30% of adults having a poorer quality of sleep, 23% meeting friends less often, and 12% exercising less.

But poor mental health doesn’t just carry a huge personal cost. Recent research shows that poor mental health costs UK employers up to £45 billion each year – and this figure is growing year on year.

There is however good news! If businesses invest in supporting their people’s mental health, they will not only see a gain in productivity, fewer sickness absences and lower staff turnover, work can provide a sense of purpose, structure and create meaningful connections. All of which is health-promoting for the employee.

And while many organisations currently invest in some level of mental health support, recent data reveals a lack of employee engagement and take-up. So why aren’t people engaging with support that is set up to help them?

There are many reasons, but the main one is the stigma, that still exists in many workplaces. People may fear that they will be treated differently, that they won’t be considered for promotion, or that they risk losing their jobs if they tell someone they are struggling. That is why it is crucial that workplaces develop a positive culture around mental health and wellbeing. Support has to be widely available, in an easy, stigma-free way. And that is where Advocacy Focus can help you!

Our charity has worked in the health and social care sector for over 25 years. Supporting people who are living through some of the most challenging times of their life. In our own workplace, we don’t just talk the talk, we have delivered impactful wellbeing initiatives for over 10 years! More recently our work was recognised nationally when we were awarded ‘Top Employer’ in the charity Mind’s Workplace Wellbeing Index – for two years in a row. Not bad for a small charity in the North of England!

It’s our proudest achievement, because it’s an award that celebrates all we have done and continue to do for our people. We invest in them first and foremost, because they are our most valuable resource and we couldn’t deliver our services across the North-West without them. So if like us you recognise that without your team your business would crumble, it is time to act!

Don’t be another UK business losing thousands of pounds, or good people, to poor mental health. Our training and consultancy services can help you:

• Improve productivity
• Decrease sickness absences
• Create more motivated teams

And more…

Get in touch with Carolina at Training@advocacyfocus.org.uk to discuss your training needs!

Refs:

https://www.mentalhealth.org.uk/our-work/policy-and-advocacy/mental-health-and-cost-of-living-crisis-report

Champion Health. The Workplace Health Report: 2023. https://championhealth.co.uk/insights/guides/workplace-health-report/