Why Invest In Mental Wellbeing?
According to a Deloitte study in 2020, the total annual cost to UK businesses is £42billion. To put it another way, that’s the equivalent of £1716 for every single employee in the country.
Many of us are aware of the growing need for mental wellbeing solutions across the country. And we’re equally aware of the inevitable impact on UK businesses. However it’s not really until you consider the impact on a business's bottom line, that the magnitude of the problem really becomes apparent.
Staff Turnout Cost
The study also found that for every £1 spent on an employee's mental wellbeing, a business could expect a return on average of £5: that’s an investment return ratio of 5:1. Here’s some other interesting findings:
Investment in reactive mental health support: ROI 3:1
Investment in preventative mental health support: ROI 5:1
Investment in organisational culture & awareness training: ROI 6:1
Whilst these figures are just averages, they strongly suggest that allotting budget to the mental wellbeing of employees early on, will reap its rewards. To give you an idea of what poor mental wellbeing could mean to your business, try our cost slider: