INDIA: In today’s fast-paced world, mental health is a critical aspect of overall well-being that cannot be overlooked. Corporate CHROs in Mumbai, led by Marsh India and Medix Global, recently appealed to India Inc. to invest in mental health for future success. The panel discussion involved HR heads of all leading corporates, deliberating on the topic: “Is Investing in Mental Health a Good Business?”.
The discussions underscored the significance of mental health at work and called on organizations to act. Mental health is often referred to as a “silent killer” that may hurt personal health and an organization’s effectiveness measured in terms of income and output. While most employers bucket mental health benefits under Employee Wellness initiatives, the panelists stressed the importance of bringing it under Employees’ Risk Cover so that it is taken seriously and gets budgeted accordingly.
India accounts for nearly 15% of the global mental health burden, with nearly 150 million Indians in need of mental health services. However, less than 20% of them are seeking care, according to the National Institute of Mental Health and Neuroscience-NIMHANS. India pays a particularly high toll for unaddressed mental health issues, which often go undetected due to a lack of awareness, education, stigma, and access. As per WHO data, India loses an estimated 1% of its GDP to mental health issues.
The discussions painted a concerning picture of mental health issues across various countries, including the United States, India, and the United Kingdom. In the US alone, more than 22% of adults live with a mental illness, leading to an estimated annual loss of $46.7 billion in productivity. Similarly, India faces significant challenges, with nearly 150 million Indians in need of mental health services, but only a small percentage seeking care.
The panelists stressed the need for empathetic leaders and comprehensive mental health programs. By sharing success stories and implementing such programs, organizations can create a supportive environment for their employees. This includes prevention, diagnosis, goal mapping, treatment, and outcomes measurement, along with providing ample access to mental health professionals.
Ms Sigal Atzmon, CEO of Medix Global, said, “Investing in mental health is a win-win situation for both employers and employees.” Prioritizing mental health leads to improved profitability and business outcomes. The panelists called on organizations to assess, implement, deliver, measure, report, and continuously improve their mental health initiatives.
By taking proactive steps, organizations can create a culture that prioritizes mental health and enjoys the benefits of reduced turnover, increased employee satisfaction, and enhanced overall productivity. With India accounting for a significant portion of the global mental health burden, it is crucial for India Inc. to invest in mental health for future success.
Photo by Emma Bauso: https://www.pexels.com/photo/woman-holding-man-s-hand-3585811/
