A report by Deloitte after surveying nearly 4,000 employees estimated that poor mental health among employees costs Indian companies a combined $14 billion a year due to absenteeism, job losses and other reasons.
Mental health issues have long been a taboo in India, but increasing awareness among the younger generation and the impact of the COVID-19 pandemic has made people more aware of their overall wellbeing.
Nearly 47% of those surveyed rated workplace-related stress as the biggest factor affecting their mental health, followed by financial and COVID-19 challenges. The survey was conducted between November last year and April this year and was released on Thursday.
“Mental health challenges are not new to the Indian workforce, but they have come to the fore in the light of COVID-19, and a young workforce that is open to speaking out about their personal well-being,” said Charu Sehgal, partner and life sciences and health care leader.
“Not only is the number of employees affected is large, the degree of challenge is also greater, with long and demanding work schedules, economic uncertainty and peer comparison (especially on social media platforms) demanded by performance-oriented cultures.”
The survey found that 80% of Indian workforce reported mental health issues last year after a second wave of coronavirus infections hit the country last year, killing thousands in the country. But the stigma in the society prevented about 39% of the affected respondents from taking any mitigating action.
Additionally, 33% of all respondents continued to work despite poor mental health, while 29% took time off and 20% resigned.
The World Health Organization (WHO) estimates that poor mental health causes the global economy to lose $1 trillion in productivity annually. In India alone, the 2019 WHO estimate states that the economic loss due to mental health conditions will be around $1.03 trillion between 2012 and 2030.
This story has been published without modification in text from a wire agency feed.
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