The impact of mental health and burnout on employers is significant and is only expected to increase in the coming years. Mental health conditions, including depression and anxiety, are among the leading causes of disability worldwide and can have a major impact on an individual’s ability to work. This can lead to decreased productivity, missed deadlines, and errors, which can harm a company’s bottom line.
One of the main costs of mental health and burnout for employers is the loss of productivity. Employees who are struggling with mental health issues may have difficulty concentrating, making decisions, and working effectively. This can result in lost productivity, missed deadlines, and errors, which can have a negative impact on a company’s bottom line.
Another cost of mental health and burnout for employers is the cost of absenteeism. Employees who are dealing with mental health issues may be more likely to take time off work, either due to their own illness or to care for a loved one. This can result in lost productivity and increased labour costs, as employers may need to hire temporary staff or overtime workers to cover for absent employees.
How can employers help?
Employers can help reduce the costs of mental health and burnout by providing employees with tools to monitor their health and well-being. For example, employers can offer employees access to a mobile app that allows them to track their mood, sleep, physical activity, and other health indicators. This can help employees identify patterns and trends in their health and well-being, and take action to improve their mental health and prevent burnout. One such app is Visix by Vastmindz, which allows employees to remotely monitor their health within Microsoft Teams.
Overall, the cost of mental health and burnout for employers is increasing year on year. Employers can help reduce these costs by providing support and resources for their employees, such as mental health benefits, counselling services, and employee assistance programs. By investing in the mental health and well-being of their workforce, employers can improve productivity, reduce absenteeism, and reduce the risk of accidents and injuries.