Employees who are stressed, anxious or feeling depressed won't be performing as well when they are at work (presenteeism) and are more likely to take days of sick. (Photo: Shutterstock)

According to the Health & Safety Executive (HSE), 15.4 million work days were lost in 2017/18 due to work-related stress, anxiety and depression. This accounted for 44 percent of all work-related ill health.

The Centre for Mental Health, a leading charity providing life changing research, economic analysis and policy influence in mental health, recently reported that mental health problems at work cost the UK economy £34.9 billion ($43.69 billion) last year.

Mental health at work is a growing problem in the workplace in terms of presenteeism, absenteeism and staff retention. Sarah Hughes, Chief Executive at the Centre for Mental Health charity, sends a clear message to businesses: "Those employers that ignore the issue, or who undermine the mental health of their staff, risk not only the health of the people who work for them but the wealth of their business and the health of the economy as a whole."

Why should businesses support the mental health of their employees?

The figures speak for themselves. Breathe HR reports that as many as 1 in 6 employees are battling with mental health conditions, such as stress, anxiety and depression. This has a hugely negative impact on business in terms of the cost of lower productivity as a direct result of poor mental health.

While many business owners may take the view that the mental health of their workers is nothing to do with them, ignoring the problem is a financially poor and a socially irresponsible decision.

Traditional ideas about workplace well-being focused on physical health and safety to address the fact that workplaces were full of hazards. This approach, while still relevant in certain industries, needs updating to include mental well-being at work.

The risk of physical injury and accidents involving machines (in developed countries at least) are far less these days. But,Vitality Health Insurance reports a new epidemic; the mental health impact of sedentary jobs and stress.

Supporting the mental well-being of employees has huge benefits to business. Let's take a look at how.

Improved productivity

Do employees do their best work when they are happy and engaged or when they are distracted and upset? Employees who are stressed, anxious or feeling depressed won't be performing as well when they are at work (presenteeism) and are more likely to take days of sick.

Healthy, happy employees will be more engaged with their work and more efficient and effective in their jobs resulting in improved productivity. It's a simple as that.

Reduced presenteeism and absenteeism

Thriving at Work, the 2017 UK government-sponsored review of employer support for mental health, estimated the annual cost to UK employers of poor mental health was between £33bn and £42bn, with more than half of the cost coming from "presenteeism" (when people are less productive at work due to poor health).

Depression and mental health symptoms like anxiety are highly correlated with presenteeism and the number of sick days a person takes. Addressing mental well-being at work and rooting out toxic work cultures leads to happier, healthier employees. The result? A reduction in presenteeism and absenteeism.

Staff retention

In a business where a focus on well-being is lacking and the culture is poor, stress levels are much more likely to be consistently high. This has consequences on employee engagement, productivity and morale, and creates a breeding ground for high staff turnover.

While there are many factors outside of work that can impact an individual employee's mental well-being, there are still a lot of things employers can do to address stress in the workplace (which will only add to someone's lot if they are already struggling). A culture of well-being promotes happier and healthier employees who are much less likely to seek alternative employment.

Attracting talent

According to a report by Forbes, 87 percent of employees consider health and wellness packages when choosing an employer. Also, nearly 54 percent of Gen Zers and 58 percent of millennials consider company wellness programs important or extremely important when making a job decision. Businesses supporting mental health stand out from the crowd.

What businesses really think about mental health

Recent research by recruitment consultancy Robert Walters suggests that an overwhelming majority of employers and professionals agree that businesses have a responsibility to support the mental health of their staff. A substantial 93 percent of employers and 85 percent of professionals agree that employees are more effective in their role when they feel that their mental health and well-being is supported at work.

While research hearteningly suggests that business leaders recognize the benefits of supporting the mental health of their staff, only 51 percent of employers surveyed by Robert Walters currently have a mental health policy in place. Also, almost two thirds of employees are finding it difficult to access information about the mental well-being strategies offered by their employers.

There is still a long way to go.

The future

Change is afoot. The appetite by businesses to build a positive workplace culture is growing. In terms of supporting mental health in the workplace, this can be seen through the increasing number of businesses investing in training for Mental Health First Aiders.

Research by Deloitte has found the return on investment (ROI) on workplace mental health interventions is overwhelmingly positive, with an average ROI of 4:1. The sooner businesses wise up to this fact the better for individuals, the business bottom line, UK productivity and society as a whole.

Businesses can and should play a role in supporting the mental health of its employees.

Dakota Murphey has a wealth of experience in business management, with over 10 years of experience she's worked on a number of successful campaigns. She now enjoys sharing her knowledge through her writing and connecting with like-minded professionals.