Why don’t more businesses have a mental health strategy?
How many businesses have a mental health strategy?
According to THIS report only 26% of businesses actually have a mental health strategy. Wow! I have to admit that when I read that it took me by surprise. Only a quarter of businesses have taken the time to think about building a strategy around mental health and then implementing it. All of that despite two thirds of business owners and leaders saying that they are committed to mental health. The problem with not having a clear strategy is that everything becomes ad-hoc. This means the impact cannot be coordinated nor measured, either for the business or the workforce.
Three pitfalls of not having a mental health strategy.
Below are the top three pitfalls of not having a mental health strategy for your business:
1. Your staff don’t believe you are committed to their wellbeing.
Did you know that, in 2022, over 60% of staff who changed jobs said that they left their previous job because of mental health issues. Add to this that over 40% of job seekers would choose a business with mental health support over a business that didn’t provide that. Having and implementing a mental health strategy can significantly reduce your staff turnover.
2. You have no way to measure the ad-hoc services you offer.
While over 70% of businesses offer some form of Employee Assistance Program, only 30% have ever measured its effectiveness. Without a clear strategy for the services you are providing, how can you measure whether they are effective or not. You could be paying out thousands every year with little to show in return. A strategy gives clear goals, actions and, therefore, measurements.
3. You cannot direct the services you provide to the right places.
Without a clear strategy you cannot help the people who need it. A strategy involves measuring and adjusting your approach. Whereas an ad-hoc approach means you are, effectively, shooting at targets in the dark. Without a clear map of where you are going you may well keep missing your destination while spending a lot of money doing so.
The choice is clear, right?
The choice seems clear. You either continue on without a strategy which means you fall into the pitfalls above and probably have a detrimental effect on your P&L sheet. Or, you implement and communicate a clear strategy that will benefit both your workforce and your bottom line.
Which will you choose?
If you choose to start building a clear strategy, we can help. Fill in the form below and we’ll arrange a time to talk.
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