Cost & Business Benefits
The financial cost to British business of mental ill health is an estimated £26 billion per year – that’s equivalent to £1035 for every employee – and some place it as high as £40 billion. Positive steps to improve the management of mental health in the workplace should enable employers to save at least 30% of the cost of lost production and staff turnover. Other research indicates spending 80p on health promotion and intervention saves £4 in costs due to absenteeism, temporary staff and presenteeism. (Click here to work out what your business could save and here for another useful tool to help assess the impact.)
Providing support for employees is important for your organisation as well as for the individual concerned.
As well as financial savings, the benefits of such investment for your organization include:
- Reducing the costs of lost productivity due to absenteeism and presenteeism
- Retaining valued and experienced members of staff – and thus avoiding unnecessary recruitment and training costs
- Reducing the cost of sickness absence payments
- Meeting your duty of care and legislative obligations
MINDFUL EMPLOYER provides your organisation with:
- Easily accessible information and resources
- Signposting to national supporting agencies and those who are local to you
- A Charter for Employers who are Positive About Mental Health - a public, tangible sign of your commitment to your staff
- Links to other employers who may have had similar experiences through LinkedIn, Local Employer Networks and the Good Work & Mental Well-Being Lab
- Training in mental health awareness at your business locations
- Practical, hands-on support
With the right support, you can deliver your business & people with a mental health condition can stay in work.