Tatsat Chronicle Magazine

Mental Health Issues Cost Indian Firms $14 Bn A Year: Deloitte

September 9, 2022
Mental Health

According to the Deloitte Mental Health Survey, poor employee mental health costs Indian companies an estimated $14 billion a year in absenteeism, low productivity, and job losses.

The World Health Organization (WHO) estimates that India bears about 15% of the global mental health burden.

Deloitte Touche Tohmatsu India LLP (DTTILLP) said in a statement that it conducted a “Mental Health and Wellbeing in the Workplace” survey to examine the current state of mental health among Indian workers.

The study explores key stressors from an employee perspective and provides estimates of the annual economic loss for Indian companies 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, 80% of Indian workers reported mental health problems in the past year.

Despite these worrying statistics, 39% of affected respondents said they were unable to control their symptoms due to societal shame.

Additionally, the survey found that 33% of respondents continued to work despite 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.

The World Health Organization (WHO) estimates that poor mental health costs the global economy a trillion dollars a year. In India alone, WHO estimates from 2019 put the economic loss due to mental health problems at around $1.03 trillion between 2012 and 2030.