Why mental health is an 'iceberg ahead' for the private sector

“ICEBERG!!”

Like the Titanic, businesses across the Middle East are heading full steam toward a major issue that could sink them, and so far we are only seeing the tip of the problem – mental health.

As C-suites plow on, supremely confident that their beliefs are likewise unsinkable, they head ever closer to collision with an existential crisis.

More proof, if ever it was needed, on the size of the mental health issue the region is facing came in a report by PwC published yesterday - “The Socio-economic Impact of Untreated Mental Illness” .

To quote the report: “Even before the pandemic, WHO reported that anxiety and depression alone afflicted 284 million and 264 million people respectively.

“Yet the scale of the problem is likely to be larger as many never seek help from a qualified professional. In Saudi Arabia, for example, 80 percent with severe mental disorders do not seek treatment.

"Every year, 12 billion productive days are lost due to depression and anxiety, costing the global economy $1 trillion in lost productivity. Yet, less than 2 percent of the global health budget is spent on mental health.

“In the GCC, mental health care systems still suffer from structural challenges, including the shortage of mental health professionals.

?“Additionally, studies have found that for every $1 invested in scaled-up treatment for depression and anxiety, there is a $4 return in improved health and productivity. Clearly, there is a strong economic case for governments and businesses alike to invest more in increasing access to mental health care for citizens in the GCC.”

As a mental health advocate, I constantly point back to that last statistic - on the dollar invested - and find it curious, if not baffling, that the CFOs of companies are not screaming for their boards to embrace mental health. In a business climate that demands efficiencies and productivity gains, this seems to be a no-brainer.

The impact of covid

To quote from the report again: “COVID-19 has exacerbated the burden of mental illness worldwide and in the GCC alike. As the pandemic progressed, there has been a significant impact on people’s mental well-being due to factors such as unemployment, economic recession, distress, grief, uncertainty, and lockdowns.

“A study conducted in the UAE with 4,426 participants, found that around 43 to 63 percent of the participants reported feeling ‘horrified, apprehensive or helpless’. Women, young people, part-time workers, and university graduates were more likely to report a higher psychological impact caused by the pandemic.

“A similar study from the UAE24 conducted during the pandemic found a higher occurrence of depressive and anxiety symptoms in their sample when compared to pre-pandemic rates. Being younger, female, and having a history of mental health problems increased the likelihood of having symptoms.

“The findings of these studies were also corroborated by mental health professionals. In Dubai, there was an observed increase in clients coming in with depression, anxiety, and PTSD being caused by financial insecurity, health concerns, and feelings of isolation, panic, and grief.”

Tackling stigma

One of the biggest barriers to addressing the mental health crisis is the stigma attached, and this, the report says, is one of the key areas that needs focus.

While PwC’s report largely discusses what governments around the world, and here in the GCC, can do, it’s clear that the private sector has a huge part to play, and needs to look at itself carefully in the mirror.

As the report says, “A survey conducted by Aetna with 1000 participants in the UAE found that approximately 30 percent of participants were reluctant to avail their mental health benefits due to the fear of being judged by their employers and harming their career progression.”

In many parts of the world, the private sector tends to lead the way in terms of innovating and evolving beliefs, here, especially in the region the reverse is true. The UAE government is embracing the issue, adopting a 4.5 working day week for a number of reasons, and they are already seeing the gains, both in terms of productivity and decreased absenteeism.

The private sector here needs to follow the government’s lead.

It's that or hit the iceberg.

To read the full report by PwC click here .