In the US it is believed that the estimated cost to neglected employee mental health is as high as – $80 billion and counting…
According to a Gallup study from 2022 they claim that nearly one-fifth of U.S. workers (19%) rate their mental health as fair or poor, and these workers report about four times more unplanned absences due to poor mental health than do their counterparts who report good, very good or excellent mental health. Projected over a 12-month period, workers with fair or poor mental health are estimated to have nearly 12 days of unplanned absences annually compared with 2.5 days for all other workers. Generalized across the U.S. workforce, this missed work is estimated to cost the economy $47.6 billion annually in lost productivity.
Here is advise for organizations on how to bring the costs down, enabling a better workplace culture
Addressing poor mental health among employees can indeed have significant cost-saving benefits for businesses in the long run. Here are some suggestions to help bring down costs related to employee poor mental health:
Recruiting the right people is crucial – Most organizations need leaders, not bosses.
When in a recruiting proces it is crucial that your attention goes to the personality test. Focus on how skilled the candidate is in contact and around other people, especially if you are hiring a leader for your organiztion. Make sure any toxic behaviour is being picked up and challenged when interviewing the candidate.
Promote Work-Life Balance
Encourage employees to maintain a healthy work-life balance by offering flexible work arrangements, such as telecommuting, flexible hours, or compressed workweeks. This can help reduce stress and burnout.
Provide Employee Assistance Programs (EAPs)
Offer confidential counseling services through EAPs to provide employees with support for personal or work-related issues that may impact their mental health. EAPs can help employees manage stress, anxiety, depression, and other mental health concerns early on, preventing them from escalating into more serious problems.
Implement Mental Health Training for Managers
Train managers to recognize the signs of mental health issues in their team members and provide them with resources to support their employees effectively. This can include training on active listening, empathy, and how to have supportive conversations about mental health.
Promote a Positive Work Environment
Foster a workplace culture that prioritizes mental well-being by promoting open communication, mutual respect, and inclusivity. Recognize and reward employees for their contributions, and create opportunities for social connections and team building.
Offer Mental Health Benefits
Provide comprehensive mental health benefits, including coverage for therapy, counseling, and psychiatric services. Ensure that these benefits are easily accessible and that employees are aware of how to access them.
Encourage Physical Activity and Wellness
Offer wellness programs that promote physical activity, healthy eating, and stress management techniques such as yoga or mindfulness meditation. Physical activity has been shown to have positive effects on mental health.
Reduce Stigma Around Mental Health
Educate employees about mental health to reduce stigma and encourage them to seek help when needed. This can be done through workshops, seminars, or educational materials distributed through company newsletters or intranet.
Provide Clear Job Expectations and Support
Ensure that employees have a clear understanding of their roles and responsibilities, and provide adequate support and resources to help them meet their goals. Uncertainty and lack of support can contribute to stress and anxiety.
Regularly Evaluate and Adjust Policies
Continuously assess the effectiveness of mental health initiatives and policies within the organization. Solicit feedback from employees through surveys or focus groups and make adjustments as needed to better support their mental well-being.
Lead by Example
Demonstrate organizational commitment to mental health by promoting self-care practices, taking mental health days when needed, and encouraging open dialogue about mental health in the workplace. Leaders who prioritize their own mental well-being set a positive example for their teams.
Read the study from Gallup “The Economic Cost of Poor Employee Mental Health” here.