Poor mind health in the workplace costing economy billions each year

Latest research has highlighted the importance of making good mind health in the workplace a priority.

Not only can it prevent unnecessary costs to the UK economy, but those who are given more support for their mind health in the workplace are more likely to be engaged and offer better performance.

The AXA’s fourth annual Mind Health Study revealed that poor mind health in the workplace cost the UK economy £102 billion last year and from a global perspective, this figure sits at £2.1 trillion.

According to the findings, 37% of workers in the UK are suffering from a mental health condition – this is up from 33% compared to 2022.

And for 75% of Brits, the workplace environment is really affecting their mind health as they admit to experiencing broken sleep, stress, a lack of confidence and a loss of interest due to work.

Tara Foley, CEO at AXA UK & Ireland, commented, “In the UK we are seeing a growing number of people battling with poor mind health and, as people spend a large proportion of their lives working, a supportive workplace environment plays a critical role in addressing this.

“Research shows that workplace habits are a significant factor, like people comparing themselves unfavourably with their colleagues. The poor mind health associated with this behaviour comes at a huge cost to the UK and global economies, and employers have a duty to respond to this for the benefit of their employees and the wider society.

“We hope the AXA Mind Health Study will shine a spotlight on the impact that poor mind health is having and demonstrate why identifying mind health issues early can be beneficial not only for individuals but businesses too.”

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