Poor mental health is costing UK employers up to £45 billion a year, an increase of 16 per cent since it last investigated the issue in 2017, says Deloitte.
Researchers at the professional services firm said the rise was mainly down to increases in presenteeism – when people come to work despite poor health and underperforming.
To put the issue in perspective, the report calculated that sickness absence cost firms just £7 billion last year, whereas presenteeism racked up costs of up to £29 billion.
Mental health related staff turnover – when someone leaves for mental health reasons – is losing firms £8.6 billion in costs related to time taken to find a new employee and time and training required before a new hire can work at full productivity.
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