Insurers reveal mental health challenges for firms

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The potential cost of employee mental health problems to businesses has been highlighted in two separate pieces of research from two insurers.

A report from Unum, The future laboratory, found that not addressing employee mental health could cost UK firms £101bn by 2030.

For employees nurturing mental health resilience was their second most important concern, behind adapting to an ageing population.

Andrew Potterton, head of proposition development at Unum, said: "The report shows the value of keeping pace with employee needs and the potential cost to businesses of not offering suitable support to employees. A balanced and comprehensive benefits package will be as, if not more, important in the future to fuel loyalty and improve staff retention to help a business thrive.

"This is especially the case if we think of the future workplace and how it will become more people-centric, with both loyalty and productivity key to business development."

Meanwhile, a survey by Bupa found 94% UK business leaders admit mental health prejudice is still an issue in their business.

Of employees with a mental health condition, 20% have felt under pressure to resign, while 51% believe it makes them less likely to be promoted.

A belief that those with mental health illnesses would fail to return to full productivity was held by 27% of business leaders.

While 53% of employees with mental health conditions felt they were still top performing staff.

The Bupa survey, Breaking the silence, interviewed 50 business leaders and 500 employees both with and without mental health conditions.

Patrick Watt, corporate director at Bupa, said: "Despite business leaders recognising the importance of addressing mental health at work there is still a long way to go to break down the wall of silence and create genuine change.

"Businesses must take immediate action. Managers need to be trained to spot the signs and know how to support employees to get the right help."

Watt added: "Great talent is being lost and demotivated due to a lack of understanding about mental health. Yet, it is perfectly possible for employees to return to work after a mental illness, and not only perform, but excel in their roles.

"Business leaders must be the champions of change: tackling the stigma around mental health, eliminating practices or cultural habits that cause stress, and encouraging people to speak up and to seek help without fear or consequence."

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