I’m a strong believer that when organisations take a proactive approach to mental ill-health at work they will have less issues; they are far better equipped to identify potential problems early and to reduce and prevent stress within the organisation.
Commissioned by AXA PPP healthcare, a poll of 1,000 bosses, found that 74% currently work for businesses which have an employee health and wellbeing strategy in place. Over half of those who did not have such strategies were planning to put one in place within the next few years.
More than half of managers of medium and large-sized firms believe mental health is the biggest threat to their employees’ health over the next five years. This led me to look at the potential costs that many companies risk by not focusing on the wellbeing of their staff.
Mental ill-health is a real issue for UK businesses that needs to be addressed as part of a successful business strategy. The topic of stress and depression is now widely discussed within society, with more people in the public eye admitting that they have suffered in the past. Why should your business be any different? It’s well overdue for organisations to start encouraging their employees to speak up, and to provide the means to do so.
It is important that the signs of mental ill-health at work are recognised and understood by senior and middle management. Too often I hear talk of stress being the back ache of the 1970s, however true stress can lead to mental health issues, from anxiety and panic to depression.
So, why should you prioritise the mental health of your employees? According to Gov.uk, poor mental health costs employers between £33 and £42 billion a year. Can you afford to ignore this? I thought not…
The Centre for Mental Health estimate that positive steps to improve the management of mental health in the workplace can save employers at least 30% of the cost of lost production and staff turnover.
An initial recommendation is that all employers, large and small, should adopt 6 ‘mental health core standards’ that lay basic foundations for an approach to workplace mental health.
Providing support for employees is important for your organisation as well as for the individual concerned.
As well as financial savings, tackling mental ill-health at work can have a positive effect on:
- Employee commitment to work;
- Staff performance and productivity;
- Staff turnover or intention to leave;
- Staff recruitment and retention;
- Customer satisfaction; and
- Organisational image and reputation
Do you hear the word ‘stress’ often? Do you have a high staff turnover? Is there ongoing sickness absence across your business or in specific departments? Your People Potential can help you to take the first steps towards creating a bespoke employee wellbeing policy that works for your business.
To ensure your people managers have the right skills and experience to identify and reduce stress at work call me for an informal and confidential chat on 01954 267640 or email Jacqui@yourpeoplepotential.co.uk
