One in four adults in the UK will experience a mental health condition in any given year, with the Organisation for Economic Co-operation and Development (OECD) estimating the cost of mental health to the UK economy at £70 billion per year, equating to 4.5% of GDP1. Mental ill health at work is thought to cost UK employers £26 billion each year – on average £1,035 per employee.
This report sets out the evidence that UK businesses are less competitive due to a culture of silence around mental health in the workplace, and demonstrates why the time is now for business leaders to show the way in encouraging conversation around the issue. Through an analysis of the business costs of growing levels of pressure on UK employees and by identifying key criteria for responsible people management, this report provides a route map to help ensure that mental wellbeing becomes a strategic boardroom issue. It should be the marker of every responsible business to talk openly about mental health in the workplace.
This report has been produced by BITC with members of the Mental Health Champions Group working in alliance with Mind to help promote the Time to Change pledge. The group and the campaign launched during Responsible Business Week 2014. Members of the group have vowed to talk about mental health more openly within their organisations and with their peers because they have faith in the benefits that transparency will bring.
We’re ready to talk – are you?