The increasing importance of employee mental health and wellbeing in SMEs

Business Services
In the midst of a mental health pandemic I, like many others, have over the past few years experienced both some great highs but also some lows in everyday life. This deterioration marks a turning point in not only the perception but the treatment and prevention mechanisms which are being implemented by employers. However, not only is the need for action being recognised but the return on investment as well. So, getting right into it…


The stats:  

A survey published last month concluded that only half of employees (52%) would describe their mental health as good, this compared to 66% in early 2020 clearly highlights what is becoming a rapid deterioration. As a result, businesses have begun to embrace a wide range of employee wellness services, and top employers are being forced to introduce increasingly attractive benefits both to attract and retain top talent. 


The options:  

As we all know, health and wellness does not have a one size fits all solution. The wide range of solutions such as therapy, counselling, life coaching and mindfulness to name just a few can create and foster an environment of inclusivity. This minimises the risks of employees being left out in the cold through a lack of appropriate solutions and as a result become less productive.  


The Return:  

Recent research from Deloitte has indicated that for every £1 spent on enacting some kind of mental health support gains an additional £5.30 in billings and productivity when solutions operate on a billable hour model’s rather than a fixed-fee basis. This return will no doubt foster a culture of openness and innovation as service providers and platforms seek to build their services and technologies into the new era of human resource management.   

Have a read for yourself – all opinions welcome! 

By Joe Graham on 26/07/2023