According to a Deloitte survey, poor employee mental health costs Indian firms $14 billion annually

9 Sept 2022 , 10:45 AM

According to Deloitte's Mental Health Survey, poor employee mental health costs Indian companies almost $14 billion per year in absenteeism, decreased productivity, and attrition. Globally, there has been an ongoing rise in mental health problems, which have been made worse by the appearance of COVID-19.

The World Health Organization (WHO) estimates that about 15% of the world's mental health burden is borne by India.

Deloitte Touche Tohmatsu India LLP (DTTILLP) said in a statement that it conducted a survey on "Mental health and well-being in the workplace" to examine the current state of mental well-being among Indian workers.

The poll explores the main stressors from the viewpoint of the employee and provides an estimate of the annual economic loss to Indian businesses due to poor employee mental health.

The main factor influencing the mental health of the professionals polled is employment stress, according to about 47% of them, followed by financial and COVID-19 difficulties.

According to the survey, poor employee mental health "costs Indian companies approximately USD 14 billion per year owing to absenteeism, presenteeism, and attrition."

Presenteeism is the phenomenon of showing up for work while feeling mentally exhausted and producing below-par work.

Eighty percent of Indian workers reported having mental health concerns in the previous year, according to the survey.

Despite these concerning statistics, 39% of the affected respondents say that they are unable to manage their symptoms because of societal shame.

In addition, the poll revealed that 33% of respondents remained to work despite having poor mental health, while 29% took time off, and 20% quit in order to manage their mental health more effectively.

Employers have the chance to reset and completely re-evaluate the methods of working to address root problems and promote better inclusivity and well-being through enabling talent policies as a result of the generational transition we are seeing in our workforce.

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