A new study from PwC looking at workplace wellbeing and its links to economic activity has revealed that 37% of 18-24 year old workers have seriously considered leaving employment for an extended period in the last year. Mental health was cited as the most influential factor that could lead them to quit the labour market.
In this blog, we look at the challenging trends in workers’ mental health, what this means for the labour market, and how businesses should be responding.
The picture of ill-health
PwC’s report is the latest addition to a mounting pile of evidence indicating that the mental health of the British workforce is suffering. Across the multitude of studies and reports in the post-Covid era, the UK’s mental health picture is stark. An Oxford University study in 2023 found that young people who had been through the pandemic were more likely to experience increased depression, social, emotional and behavioural difficulties and worsening general mental well-being. Since 2015, half a million more young people today suffer from mental illness.
The latest figures published this week show that those aged 16-34 are more likely to have a work-limiting health condition than those aged 35-49 – amounting to some 2.7m young people.
What it means for workplaces and the wider labour market
Downstream of these national health trends is a labour market crisis that poses a direct challenge to the Government’s growth agenda.
The UK’s rate of economic inactivity remains far beyond pre-Covid levels with around 9.2m people, or 21% of UK adults, out of the workforce and not seeking a role. The reasons for growing levels of economic inactivity are multi-faceted, but research suggests that of the 2.8m out of work due to long-term sickness, some 60% are living with mental health problems.
How can businesses respond?
Attracting and retaining the best talent is consistently ranked by CEOs as one of the top challenges facing their businesses. Against the backdrop of the crisis in workplace wellbeing, it is clear that having the right support for employees is no longer a ‘nice to have’ but a ‘must have’. Indeed, research released this week put mental health support at the top of the list of demands employees expect from employers in the coming year.
From providing mental health support to promoting healthy eating and physical activity there are a plethora of services and initiatives businesses can engage in to support their employees’ wellbeing. As ever, there are opportunities for businesses willing to engage proactively on these issues, and pitfalls for those that take their eye off the ball.
Communicating in this climate
There are a vast range of businesses out there that have a role to play supporting clients through the ongoing crisis in workplace wellbeing. Some of the key players include corporate wellbeing provider Wellhub who work with employers to connect their teams to a range of fitness, mindfulness, therapy, nutrition and sleep options. There are also businesses like OpenUp who work with employers to provide one to one sessions with psychologists, interactive group sessions and self-guided learning tools for employees. Many businesses around the UK are likely to be reviewing their wellbeing support so these businesses have more of a role to play than ever.
Adequate wellbeing support options can be a real draw for potential talent as well as a vital resource for existing workforces. Careful thought needs to be given to how these initiatives are being communicated, both internally and with external audiences with a consistent set of messages that tell a clear story and represents a tangible commitment to workplace wellbeing.
Crucially, it’s not just about the ‘what’, but about the ‘why’. A clearly expressed set of values that demonstrates a real understanding of the support employees need and expect from their employers today is critical. Talking the talk is one thing; it is vital that businesses who are communicating on this subject back up their claims with clear actions.