In the UK it is estimated that 1 in 4 people will experience a diagnosable mental health problem in any given year. That equates to a cost to UK businesses of £45 billion per year and has risen by 16% (£6 billion) since 2016. Further research has indicated that as many as 1 in 6 people experience mental health difficulties in any given week.
Many businesses have seen these figures and sought to address mental health and wellbeing in the workplace, sometimes training mental health champions as first responders and/or actively producing strategies that promote positive mental health and wellbeing.
A recent piece of research from Deloitte, published immediately before the Covid 19 pandemic, showed the difference between the different approaches. It showed that:
- Reactive approaches to addressing mental health and wellbeing in the workplace pay back £3 for every £1 invested.
- Proactive approaches to addressing mental health and wellbeing in the workplace pay back £5 for every £1 invested.
- Strategies that create an organization-wide raised awareness and a positive culture change pay back £6 for every £1 invested.
Since its people are the greatest resource of every business, it, therefore, makes perfect sense to adopt the most cost-effective policy which produces the best results for both business and employees.
Here at the Workplace Wellbeing Academy, we specialize in helping businesses build positive cultures that promote positive mental health and wellbeing.
Contact us today to learn more.