Mental Health Initiatives Yield a £5.30 Return per £1 Invested
One in six workers experience mental health problems at any given time. Let that sink in. If you have a 60-person workforce, statically, 6, or 10%, of them are struggling with mental health.
It’s a huge problem, and it’s only getting worse. The World Health Organisation (WHO) also suggest an urgent need for action on mental health.
And it’s not only a problem for the person suffering. It’s a problem for business. It’s affecting workplace productivity, creativity, and, most significantly, profitability.
So much so that research from Deloitte suggest you can get a return of £5.30 for every £1 invested in mental health initiatives.
Economic Impact of Poor Mental Health in the Workplace
Mental health issues contribute massively to days off and also employee turnover.
In fact, nearly half of the workdays lost in Britain are due to mental health issues, particularly stress. Alongside this, poor mental health is rising in the workplace. This is due to presenteeism and absenteeism.
From a business perspective, both present significant losses. Employing and training new employees cost thousands. Days off reduce productivity and present a host of operational issues.
Yet, despite costing businesses thousands, it’s rarely a discussion in the boardroom. Generally, it’s overseen and never spoken about as an investment opportunity.
Return on Investment (ROI) in Mental Health Initiatives
In business, you usually use ROI on advertising. “If we spend £1, we want £1.50 back”. It’s easy to measure, money-in, money-out.
However, advertising doesn’t give a good ROI. In a study named “Profit Ability 2” short-term ROI on advertising is £1.87 per £1 invested. 87p profit.
Though profit, it’s nothing to jump up and down about. But what about a different type of investment, such as an investment in mental health initiatives?
Well according to Deloitte, the ROI is £5.30 for every £1 invested. A £4.30 profit. This is much greater than any advertising method out there.
This ROI comes from multiple sources. Reduced absenteeism, decreased presenteeism, lower staff turnover, high productivity rates – the list goes on.
How Employers Can Maximize ROI on Mental Health Investment
Employers of all sizes and industries can get an ROI on their mental health investment. They can do this by:
– Implementing mental health programs.
– Fostering an open workplace culture.
– Using digital tools to make mental health resources accessible.
– Continuously monitoring and adapting the effectiveness of their mental health programs.
When investing in mental health, monitoring and adapting is very important. Without it, it’s hard to determine ROI and its overall effectiveness.
OurPulse, Built to Improve Mental Health
At OurPulse, we’ve developed a platform that can help employers get the most from their mental health investment.
With OurPulse, we can create, analyse, and optimise mental health initiatives, ensuring you make that 1:5 investment we’ve discussed.
So, let’s make a difference together. Let us help with your mental health program and help grow your business in an unconventional but very rewarding way. Contact OurPulse today.