Caroline Cavanagh explains how poor mental health costs the UK economy £117 billion annually, about 5% of GDP. Companies lose money through turnover, recruitment costs, reduced productivity, and lost creativity when employees struggle.
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The statistics are phenomenal. I was reading something recently and I think it was a Forbes study that says the estimate is that the economy loses £117 million— sorry, billion, billion pounds a year through poor mental health. 5% of the GDP. Just stop for a minute. 5% of GDP is going poof because of poor mental health. So bring that down to a company level, depending on the size, it's costing them through very easy things to measure: people leaving, recruitment costs of getting a new person in. A new person is typically unproductive for at least 3 months, let alone the cost intellectually of the person who's taken of that intellectual knowledge out of the company. But then there's the less quantifiable things. There's the people who are not performing to their best. They're only on 50%. And one thing that I think is— I don't know how you measure it, but it's a very real cost— is the lack of creativity. If you're in a bad place and you're worrying, you're not a problem solver. You're not coming up with sparky ideas. You're not firing on all cylinders. That's a cost to a company.