5 reasons that business leaders should invest in a positive mental health culture

10th October 2018 is World Mental Health Day. One of the few times a year that people across the UK are prompted to take a moment to consider their mental health within the broader context of their lives.

As in previous years, my focus for World Mental Health Day is on employers. Specifically, I am using my platform this year to urge business leaders to step up to the plate when it comes to building a caring workplace culture around mental health. This is largely due to the fact that many mental health conditions can be triggered by the workplace, from everyday stress to more long-term conditions.

To me, the need for a dedicated approach to mental health in every organisation is essential, but I senior leaders should invest in a health and wellbeing strategy:

1.      ROI outweighs costs. Research carried out last year by Stevenson & Farmer for the Government suggested that the cost of poor mental health to British employer was between ￡33 and ￡42 billion annually. The estimate of this cost to the entire UK economy was even greater, with an upwards figure of ￡99 billion.

This same research suggests that for every ￡1 that an organisation invests in mental wellbeing support, they can expect ￡9 as a return on investment stemming from improved productivity, lower churn and other positive business benefits.

2.      It’s Ethical. It’s the right thing to do. Mental health is something we all have, just as we have our more visible, physical health. There are probably strict health and safety protocols in place in your office to protect the physical health of employees. Why should mental health be any different? Leaders will feel good knowing that their people can rely on their work as a place which proactively tackles mental health issues before they become problems. 

3.      It contributes to a more productive workplace. Research undertaken earlier this year suggested that 62% of people had taken a day off work in the last year as the result of poor mental health. Furthermore, Investors in People’s Managing Mental Health in the Workplace report found that 78% of UK workers feel less productive when they are stressed at work. This evidence corroborates the notion that a happy workforce is a more productive workforce and this relationship should be enough to convince business leaders that spending on mental health provision is an investment in business success.

4.      It encourages self-reflection at every level. Managers are people too, but often they are caught up in the success of the business, translating this into a barometer of their own happiness; this is particularly the case in entrepreneur-manager scenarios. Leading by example and following good mental health practices can encourage those at the top to reflect on their own performance and how this might be impacted by stress and a failure to disengage their own wellbeing from that of the business.

5.      Lower churn. Time and again, figures prove that people want to work for an organisation with a track record of looking after the mental health of their people. This fits in to a broader understanding that those organisations who invest in employee wellbeing tend to have an all-round better culture. So investing in a positive wellbeing culture is also an investment in employee retention.

The five reasons that I’ve set out above provide both a clear call to action and a convincing return on investment for business leaders who are yet to be convinced of the importance of supporting employee mental wellbeing. More cynical leaders may not be convinced by the ethicality argument, but even they should see the benefit of an 800% ROI on mental wellbeing spending.

The evidence is clear; not only is improving mental health awareness the right thing to do for workplace culture, it also contributes momentum to broader organisational success.