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Poor Mental Health of Employees Costs Indian Employers $14 Billion a Year: Report

Workers pay poor mental health costs to employers $14 billion a year: Report

According to the survey, 80% of the Indian workforce reported mental health problems.

New Delhi:

According to Deloitte’s Mental Health Survey, Indian employers cost about $14 billion a year in absenteeism, reduced productivity and impaired work capacity.

Over the years, mental health problems have seen a steady increase globally, further accentuated by the emergence of COVID-19.

According to the World Health Organization (WHO), India accounts for nearly 15% of the global mental health burden.

To analyze the current mental health status of Indian employees, Deloitte Touche Tohmatsu India LLP (DTTILLP) conducted a survey titled ‘Mental health and well-being in the workplace’, it said in a statement.

The survey delves into the top stressors from an employee perspective, along with an estimate of the annual economic costs to Indian companies arising from poor employee mental health. .

About 47% of professionals surveyed cited workplace-related stress as the biggest factor affecting their mental health, followed by financial and COVID-19 challenges.

“These stressors manifest in many ways, affecting both the personal and professional aspects of an individual’s life; often with associated social and economic costs.”

The report estimates that “the poor mental health of employees costs Indian employers about $14 billion a year due to absenteeism, lack of presenters and depression”.

The presenter is the phenomenon of participating in work while mentally stressed and, therefore, working with low productivity.

“These costs accumulate over time and arise when poor mental health affects the way individuals deal with everyday stressors and fails to thrive in their work environment.” “, the statement said.

According to the survey, 80% of the Indian workforce have reported mental health problems in the past one year.

Despite these alarming numbers, social stigma prevents about 39% of affected respondents from taking steps to manage their symptoms.

In addition, the survey found that at work, 33% of all respondents continued to work, despite poor mental health, while 29% took time off and 20% resigned to manage. manage their mental health better.

Commenting on the study results, Punit Renjen, Deloitte Global CEO, said, “Mental health is a real issue. Challenges over the past two years have brought health conversations to life. Mental health in the workplace comes first”.

Research proves that businesses must prioritize people’s mental health and well-being, he said.

“It’s essential that senior leaders play a vital role in addressing mental health challenges in their organizations. We need to take the necessary steps to create an environment that’s safe to do. where employees’ well-being is a priority and they can access the support they need that everyone can thrive,” he said.

Adds Charu Sehgal, Life and Care Science Partner and Leader, DTTILLP, that “mental health-related challenges are not new to the Indian workforce, but challenges This awareness has been at the forefront thanks to COVID-19 and a younger workforce that is open to talking about their personal well-being.”

Not only is the number of employees impacted, but the level of challenge is also high, underscored by a performance-oriented culture anchored in long and demanding work schedules, uncertain economics, and peer-to-peer comparisons. customers (especially on social media platforms), she says.

She added that while most Indian businesses have recognized the importance of employee health, the share of mental health measures in the workplace remains limited, with few sporadic events and the use of third-party employee assistance programs.

With the generational change we are witnessing in our workforce, employers have the opportunity to fundamentally reset and re-evaluate the way they work to address the most pressing causes. root causes and promote greater inclusion and well-being through policies that enable talent.

“Raising awareness and addressing mental health-related challenges can help employees get support early. As responsible corporate citizens, India Inc. must act and set it up. a framework to manage psychological health and well-being in the workplace and create a culture of trust to ensure long-term benefits for employees and the organization,” she added.

(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)

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