Investing in Workplace Mental Health
Workplace mental health is now becoming something every director/manager should be looking out for within the workplace. Mental health issues like burnout, depression and stress are some of the things people need to look out for. But how do you know what to look out for? How does it affect your business?
What Defines a Good Workplace?
The World Health Organisation defines mental health as a state of well-being in which an individual realises their potential, can cope with the normal stresses of life, can work productively, and is able to make contributions to their community.
Environmental factors – such as a positive workplace and supportive colleagues – are major determinants of an individual’s mental health. With this in mind, it’s crucial to invest in workplace mental health initiatives in order to ensure organisational success.
Still, don’t see the value of investing in workplace mental health? Have a look at the statistics:
Ignoring Mental Health is Costly
While employers that don’t invest in workplace mental health initiatives might think they are saving money, the reality is quite the opposite. Employees suffering from poor mental health are more likely to experience work-related stress, depression, and anxiety – all of which contribute to the following price tags:
- Absenteeism; mental health-related absences cost organisations a total of £7.9 billion each year.
- Presenteeism; defined as attending work when ill and not performing at full ability, mental-health-related presenteeism costs employers between £16.8 billion and £26.4 billion every year.
- Turnover; employees who leave their job due to mental health concerns cost organisations an annual total of £7.9 billion.
5 Ways to Create a Positive Workplace:
Creating a positive work environment for yourself and your employees is an easy thing. Here are 5 ways to improve your work environment:
- Give the benefit of the doubt; don’t read into other people’s actions
- Practice generosity of spirit; don’t wait for someone else to share or help – do it first
- Speak well of others
- Look at what works; this is always something good in every situation – find it
- Show appreciation; say thank you more often
The ROI is significant
Employers that put money towards mental health initiatives experience a tangible return on their investment. This can be up to £9 for every £1 spent. These financial rewards can be represented in higher retention rates and increased productivity levels.
How we can help!
At Trevellyan Insurance Brokers, we want to help businesses not be at fault, insuring with us today can help you keep you secure and safe in your hands. We make sure that you are covered and also keep you insured.
As brokers, we can help you find a policy that is at the best price.
We can offer you a quote that is suitable for you and right for your business.
July 20, 2022
May 16, 2022