Too many UK workers are ‘running on empty’, with burnout, mental ill health and work-related stress now costing the economy £28bn a year, research has suggested.
The study, from data and economic modelling from AXA UK and the Centre for Business and Economic Research (Cebr), has argued that stress, burnout and general poor mental health is resulting in 23.3 million lost working days for businesses.
The AXA Mind Health Study surveyed 30,000 people aged 18 to 74 from 16 European, Asian and American countries. It found that more than a fifth (21%) of UK adults are in emotional distress, defined by the study as ‘struggling’.
A further quarter (26%) said they had an absence of positive wellbeing, defined in the study as ‘languishing’.
This meant almost half of the UK as currently not in a positive state of mental wellbeing and at risk of burning out, which was having a significant impact on the economy and businesses, AXA argued.
Now in its third year, the study did however find some signs of improvement in the UK, with a decline in the stigma associated with having a mental health condition and more people ‘flourishing’ or enjoying very good mind health (23%) compared to last year (18%).
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In fact, the UK was one of the biggest increases among the countries surveyed. However, it also shared the top spot for the proportion of people struggling, alongside the US.
Another positive from the survey was the finding that just over half (51%) of workers feel their company provides good support to employees regarding mental health.
Equally, the survey concluded that mental health support at work makes a big difference. Those who were supported at work were twice as likely to be happy and almost three and a half times more likely to be flourishing, it found.
However, almost one in two people (46%) said they were feeling overwhelmed and uncertain about the future, with the UK’s cost-of-living crisis seeming to be having a particularly negative impact.
Data from the Cebr, meanwhile, has shown financial stress and concerns among employees are costing UK businesses up to £6.2bn alone in sick days and lack of productivity. Drilling down into the study, other findings included:
- More than a quarter (28%) of people find it difficult to separate work life from non-work life and have poorer mind health as a result.
- Those with management responsibilities are more likely to be stressed, however they are also more likely to be confident in their abilities and comfortable with who they are.
- Female employees are less likely to have flourishing mind health compared with their male counterparts (16% vs 26%).
- Almost half (48%) of people between the ages of 18-24 currently suffer from a mental health condition, compared to 22% of those over 55.
- The stigma associated with having a mental health condition is declining but support is still needed.
- 55% of people agree that the stigma associated with having a mental health condition is declining compared to 50% last year.
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Claudio Gienal, CEO at AXA UK & Ireland, said: “It’s concerning that so many people are struggling with their mental health in the UK. Our findings show that not only does this have an impact on individuals, it also comes at a huge cost to businesses, the economy and society as a whole.
“It’s also clear that mental health support in the workplace is linked to better employee experience and retention, so it is vital for organisations to provide this support to benefit from a happier, healthier and more productive workforce,” he added.
