The Centre for Mental Health has estimated that over half the cost to business of mental ill health at work is attributable to reduced productivity of employees when at work.
The consequences of ill health can be significant for a business, with considerable direct and indirect costs arising from sickness absence – estimated by the HR and people development body, the CIPD, to cost UK employers £522 per employee per year.
But it doesn’t end there. Presenteeism – where employees attend work when unwell and perform below par – also comes at a cost. Indeed, the Centre for Mental Health has estimated that over half the cost to business of mental ill health at work is attributable to reduced productivity of employees when at work.
Stepping back, there’s much more to managing wellbeing than simply knowing what makes your team happy. It’s a state affected by a myriad of physical, psychological and social aspects of people’s lives. For example, a cash flow problem and/or relationship issues at home or in business, can spiral into stress, anxiety or even depression. Moreover, we know from our own research that physical, mental and financial health are prevalent issues, with nearly a third of UK workers we surveyed in 2016 saying they had struggled with their physical health (30 per cent), a similar proportion (36 per cent) said they struggled with their mental health and 52 per cent said they struggled financially.
Excerpt from Real Business, read the full article here