This is how much poor mental health is costing YOUR business every year!
The amount of people suffering with poor mental health is on a steep increase. Since COVID hit in 2020 anxiety has taken over as the number one poor mental health issue. It estimated that close to one billion (yes, that’s billion with a B) people are suffering around the world.
Of course, if you are a business owner or leader this is impacting your business. The costs to business of poor mental health are increasing, but just how much does it cost you? You may be surprised.
How much is poor mental health costing your business?
With the annual bill to businesses for poor mental health approaching £60 billion per year, you need to know how much of that is your share. When you discover how much poor mental health is costing your business you can make clear decisions. Decisions on where to spend your money and what sort of payback you can expect.
According to Deloitte the average cost per employee is….. wait for it…… £1632 per year.
How much does that impact your business?
Just to be clear, that figure of £1632 is for EVERY employee and not just the ones who may suffer with poor mental health. The equations, therefore, becomes simple doesn’t it. If you have 10 employees it’s costing you, on average £16320 per year. With Twenty employees the cost is £32640. With 50 employees your bottom line is being impacted to the tune of £81600 and, of course, with 100 employees you are losing out on £163200.
Will you do the math for your business?
How painful does that feel?
Whether you look at it from the view of your workforce and the people who are suffering. Or, if you look at it from a cash and profit point of view, the results are painful. To know that so many of your staff are suffering, and many of them in silence, is a terrible thought. To look at your P&L report and know that your bottom line is suffering as well is like a double whammy!
Will you do something about it?
Here’s the question – will you do something about it? Will you step up and support your staff AND, therefore, see the impact on your bottom line? The results of providing a thorough and proper support system are clear. More retained staff, less absenteeism along with improved performance and efficiency. What will you bottom line look like with and improvement in all of those? If you cut that figure or what poor mental health is costing you in half, how much will you save?
How we can help
At The Priority Academy we help businesses to support the mental health of their staff. We offer training and workshops to help them help themselves. More importantly, we offer a Workforce Mental Health Assessment, that is completely anonymised, and can provide you with clear guidance on where to place your mental health support focus. Find out more below:
Click the links below to learn more:
Contact Us
When you are ready to help and support your workforce, we can help. Fill in the contact form below and we will get in touch.
