State of Mind
United Kingdom

The background on October Health's State of Mind Report

The world is facing a growing mental health crisis.

In the United Kingdom, mental health concerns are increasingly recognised but still under-resourced, presenting significant challenges. Contributing factors include the fast-paced and high-pressure nature of modern life, which aggravates stress and anxiety, alongside the lingering impacts of economic uncertainties and social disparities. The National Health Service (NHS), despite its critical role, is stretched thin with limited resources for mental health care, often resulting in long wait times for services. There is also a pressing need for more mental health professionals to meet growing demands. Addressing these issues requires a multi-faceted approach, including boosted funding for mental health services, integrating mental health care more thoroughly into primary healthcare, and promoting workplace mental health initiatives to support employees. Enhancing public awareness, reducing stigma, and encouraging digital solutions like October’s mental health services can also contribute to more comprehensive mental health support across the UK.

Businesses are suffering without realising

Poor mental health has extremely significant costs to businesses:

• Lost productivity. Employees with mental health issues like depression, anxiety, or substance use disorders may be less productive and miss more work. This lost productivity results in lower output and revenue for businesses. Estimates suggest mental health problems reduce productivity and economic growth by up to 4% per year.
• Presenteeism. Some employees may come to work but not be fully productive due to poor mental health. This "presenteeism" still costs businesses money in the form of reduced performance and effectiveness. Presenteeism can be harder for employers to detect but can be even more costly than absenteeism.
• Higher healthcare costs. When mental health issues go untreated, they can lead to more severe health problems and higher healthcare costs. For example, untreated depression can increase the risk of chronic physical health issues, resulting in greater spending on healthcare premiums and services. Providing mental health benefits could help address issues early and reduce long-term healthcare costs.
• Recruitment and retention challenges. If a company does not provide adequate mental health support, it may struggle to attract and retain top talent. In today's market, mental health benefits and a supportive work culture are appealing to employees and candidates. When people's needs are met, they are more likely to join and stay at a company, which reduces costly turnover.
• Safety and risk issues. Poor mental health can impact judgment, focus, and decision making, which may put employee and public safety at risk in some jobs. Proactively supporting mental health and monitoring risks is important for companies where safety is a concern. Doing so could help prevent dangerous incidents and legal issues.