Mental health imperative: Steering growth through employee well-being

There is a growing recognition that mental health is intrinsically linked to economic prosperity. A mentally healthy workforce is more productive, creative, and resilient, leading to higher levels of innovation and efficiency, and every dollar invested in mental health interventions returns with four dollars in improved health and productivity, emphasising the importance of prioritising mental health within corporate strategies to transform India into ‘Viksit Bharat’ by 2047.

From a mere two mentions in the Economic Survey 2022-23 to initiating policy recommendations for mental health issues this year is a momentous step for two reasons – firstly, it validates the government recognising mental health as a critical element for economic growth that supersedes its status only as a ‘disease’ or ‘disorder’. Secondly, with the survey reposing faith in the private sector to steer the future growth, the reality of poor mental health status of its employees, as reported in several media, hits harder. A report by the Confederation of Indian Industries (CII) and digital healthcare platform MediBuddy states that a whopping 62% of the employees from the 1,000 surveyed companies experience work-related stress and burnout, three times of the global average.

As India positions itself for robust economic growth, the mental health of its private sector workforce will play a pivotal role in determining the trajectory of this progress. A strategic focus – understanding the current state of mental health among corporate employees, the intrinsic connection between mental well-being and economic prosperity, and the practical measures companies can adopt to foster a healthier work environment – is crucial to transform India into Viksit Bharat by 2047.

There is a growing recognition that mental health is intrinsically linked to economic prosperity. A mentally healthy workforce is more productive, creative, and resilient, leading to higher levels of innovation and efficiency. On the other hand, mental health issues can lead to absenteeism, reduced productivity, and increased turnover rates, ultimately impacting a company’s bottom line and the broader economy. Long working hours, high stress, job insecurity, and the pressure to perform are contributing to burnout, anxiety, and depression. A report by the World Health Organization (WHO) estimates that poor mental health costs the global economy approximately $1 trillion annually in lost productivity – the estimated cost to the world economy in poor health and reduced productivity is projected to rise to $6 trillion by 2030. In India, the situation is no different, with the National Mental Health Survey indicating that nearly 15% of adults in the country experience mental health challenges and are in need of support.

Underscoring the importance of investing in better mental health, the WHO states that for every dollar invested in mental health interventions, there is a return of four dollars in improved health and productivity. This significant return on investment emphasises the importance of prioritising mental health within corporate strategies including the following proactive steps:

• Promote work-life balance: In addition to a pay commensurate with their skills and experience, encourage employees to take regular breaks, use their vacation days, and maintain a healthy work-life balance. Consider implementing flexible working hours and remote work options to reduce stress and burnout.
• Training and awareness: Conduct regular training sessions for managers and employees on mental health awareness, stress management, and recognising the signs of mental health issues. This will equip managers with the skills to support their teams effectively.
• Healthy work environment: Ensure that the physical work environment is conducive to mental well-being. Consider incorporating access to natural light in work areas and designated areas for relaxation and mindfulness practices for employees.
• Foster an inclusive culture: Create a workplace culture that promotes open communication and reduces the stigma associated with mental health issues. This will encourage employees to speak openly about their mental health and provide support through peer networks and mental health champions.
• Access to mental health resources: Constitute in-house resources on mental health such as Employee Assistance Programmes (EAPs), counseling services, and stress management workshops while ensuring these resources are easily accessible and confidential.

Companies championing Diversity, Equity, and Inclusion (DEI) with a robust policy may find it essential to address the unique mental health needs of differently-abled or LGBTQIA employees with some extra efforts. Besides inclusive and supportive policies involving anti-discrimination culture, gender-neutral restrooms, and accessible facilities, tailored support programmes according to the needs of such employees will be important enablers, including but not limited to specialised counseling services, support groups, and mentorship programmes. Conduct regular awareness and training sessions on diversity, inclusion, and sensitivity to create a more inclusive and supportive workplace culture to educate employees about the unique challenges faced by differently abled and LGBTQIA colleagues. Most importantly, promote allyship – encourage employees to become allies for their differently abled and LGBTQIA colleagues by standing up against discrimination, providing support, and promoting inclusivity within the workplace.

The mental health of private sector employees is not just a matter of individual well-being; it is a critical factor that will steer the direction of India’s growth trajectory. Addressing mental health issues in the workplace is essential for fostering a productive and resilient workforce that will drive the economic progress India aims for. By implementing practical measures to support the mental health of all employees, including those who are differently abled or LGBTQIA, companies can contribute to a healthier, more inclusive, and economically prosperous India.

This article is authored by Diganta Biswas, founding partner, Peak IX Consulting.