Call us to find out more 0141 255 2909 Menu

Mental Health at Work – The Great £20m Robbery & Creating a Business Case

mental health at work

“If you had an organisation with a £20m hole in it, you’d be all over it like a rash.  Because its mental health it’s ignored.

 “The challenge is to come up with a business case to highlight this cost.”

Stated by a senior partner at a global accounting firm with whom I met recently.

I knew I had to accept it when, soon afterwards, I was at an HR conference and one of the participants on the panel stated:

“There’s no business case for mental health at work”

While the rest of the panel seemed to agree, I could not. I knew that if an organisation had a £20m hole in the P&L caused by:

  • a health and safety issue
  • poor product quality, or
  • project over runs

It would not be acceptable – significant action would be taken to sort it.

One of the reactions we get when we explain what we do at Headtorch is to dismiss it as a bit pink and fluffy – so let’s debunk that myth.

After some research, we have our business case and it’s developed by The National Institute for Health and Clinical Excellence (NICE), no less. You can therefore guarantee that it is very well-researched.

The NICE tool uses absence, presenteeism and staff turnover to identify the cost of bad mental health at work.

The results will surprise you.

NICE gives an example for an organisation with 1,000 employees …

… the cost of mental ill health at work will be £835,000.

The numbers speak for themselves and give a reasonable estimate for what it’s costing at an organisational level.

NICE also offers hope – based on the research it’s done, it estimates that 30% of these costs can be saved by taking simple steps.

In the above example with 1,000 employees, this equates to £250,000.  Imagine the impact by taking serious action.

The bottom line is:

  • Taking action on mental health at work will save you a small fortune and you’ll get a good return on every pound you spend
  • It will also keep you on the right side of the law (more on this next month)
  • And for employees who work for organisations that take action: you are going to feel more engaged, be less likely to have a mental health issue, and even if you do, you’ll recover quicker and better.

So let me lay down a challenge to all the decision makers out there – give it a try, take action on mental health at work and reap the rewards. 

Mental health ain’t fluffy!

Comments:

Leave a Reply

Your email address will not be published. Required fields are marked *

Archives

Latest News

Conversation about mental health at work? Learn to SEW
When it comes to having a conversation, if you’re concerned about someone’s mental health and well-being, it’s about knowing how to SEW. Lots of people avoid having a conversation if they think their colleague is unwell. They think it could be a ‘scary thing’, they think they might say the ‘wrong thing’, they think the […]

Read More

Latest News

The Miracle Has Happened
THIS week is Mental Health Awareness Week, which aims to raise awareness and educate around mental illness. As well as the strong ethical and legal arguments in favour of investing in mental health training, there is an overwhelmingly convincing business case. The London School of Economics estimated in 2011 for every £1 that was spent […]

Read More

Latest News

Headtorch in the News with the Sunday Mirror
Kicking off Mental Health Awareness Week, Headtorch are in the news with the Sunday Mirror. Top tips include getting away from your desk at lunch, talk to somebody and remember to have a laugh!  Positive mental health = happy employees. Read the article here 10 Tips to Ease Your Stress    

Read More

Latest News

Keeping the Conversation Going
RBS Mental Health Awareness Conference – Live Well Being You On the evening of May 17th Amy McDonald of Headtorch will be presenting at the RBS Mental Health Awareness conference.  Amy joins a group of speakers from  RBS, CIPD and Prince’s Trust Scotland. The theme of the RBS conference is “Keeping the Conversation Going”, attendees will be […]

Read More

Latest News

HR Network Conference 2018
On Thursday 10th May, Headtorch has a stand a the Annual HR Network Conference which attracts around 350 senior professionals from the world of HR and people development & management in Scotland. Visit us at our stand, we’d like to give you a great cost-free, easy-to-implement fun idea for mental health awareness week. Be sure to […]

Read More

Receive the latest newsletter

Keep up to date with our latest news...