The hidden costs: Poor mental health at work

The modern working world presents numerous challenges, and one of the most significant concerns the mental health of employees. A profound Deloitte analysis highlights the enormous costs of poor mental health in the workplace. The consequences range from reduced productivity to long-term effects on employee well-being.

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The invisible expenditure

The Deloitte study shows that the direct costs of mental health problems, such as medical treatments and therapies, are just the tip of the iceberg. In the UK, for example, the cost of absenteeism due to mental illness was an astonishing £45 billion last year. But indirect costs, which are often overlooked, are much more serious. In Germany alone, these amount to over 17 billion euros per year — an increase of 16% in the last four years.

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Productivity losses and absences

Poor mental health leads to lost work, which is significantly more expensive than many companies assume. In the UK, these failures cost the economy around £21.2 billion in 2020. The Deloitte study shows that these costs are often disproportionately high compared to direct medical expenses. Not only must the absences themselves be taken into account, but also the reduced productivity of the employees present, who suffer from the effects.

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Fluctuation and recruitment costs

Employees who leave the company due to mental health problems incur significant costs. The loss of know-how, the search for replacements and the onboarding of new employees are financially expensive. In the USA, employee turnover costs around $200 billion annually.

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The role of mentalport

It is in this context that a platform such as mentalport comes into play. Through targeted measures to promote mental health, companies can not only minimize direct costs, but also reduce indirect spending through increased productivity and employee retention. The integration of mentalport into everyday business life not only offers a comprehensive risk assessment of psychological stress, but also targeted solutions to improve mental well-being.

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conclusion

Poor mental health at work is not only an individual problem, but also an economic one. Investing in employee mental health pays off in the long term by increasing productivity, reducing turnover and thus minimizing hidden costs. Companies that support their employees holistically not only create a healthier working environment, but also strengthen their own financial stability.

Learn more about the specific figures from the Deloitte study and discover how mentalport can help companies minimize invisible spending and promote a healthy, productive work culture - book yours now free demo and get in touch with us! Invest in the mental health of your employees today and actively shape the future of your company!

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Photo by Chris Liverani upon Unsplash