We are warning employers not to ignore the devastating impact the cost-of-living crisis will have on the 鈥榓lready fragile鈥� mental health of the UK workforce.

Following reports that work-related stress already costs the economy 拢28 billion year each year 1, we expect this figure to rise unless businesses step in to provide swift access to mental health support in the wake of the cost-of-living crisis.

Our Workforce Lead, Kris Ambler, said: 鈥淭he cost-of-living crisis is delivering a sledgehammer-like blow to the UK鈥檚 already fragile workforce. It鈥檚 shattering the mental health of people both inside and outside of work. Employers can鈥檛 afford to ignore the impact it鈥檚 having on their staff. They must prioritise mental health in the workplace, think about the effects their decisions have on staff wellbeing, and ensure employees can access vital support such as counselling and psychotherapy if they need it.鈥�

Kris was speaking after our roundtable event on Thursday 14 December - which saw businesses, unions, charities and employee assistance programme providers from across the UK meet to discuss the impact of the cost-of-living crisis on employers and their employees.

鈥淭he discussions we had last week, together with emerging data, indicate this is a major issue for employers and employees. The NHS simply can鈥檛 accommodate the volume of people seeking help from their mental health services - and we鈥檙e hearing that there鈥檚 a greater demand than ever. Our therapists are also seeing more complex cases as people experience greater financial difficulties which, in turn, leads to increased GP visits, more days off sick and, in some cases, a breakdown of the family unit.

鈥淏ut the various challenges caused by the cost-of-living crisis needn鈥檛 have the debilitating mental health impact it鈥檚 having on individuals and business. Our message to employers is that although we know access to mental health services won鈥檛 solve all the problems caused by the cost-of-living crisis, it can significantly reduce the costs of disruption to their business and the wider economy.

鈥淩esearch has proven time and time again that workplace counselling can halve sickness absence in organisations2, and employees that have access to mental health services return to work sooner, are more resilient, more productive, and less likely to become long-term sick.

鈥淲e know that for many organisations the cost of investment in mental health support remains to be a significant barrier, which is why we are also calling on the government to do more to support UK business and the mental health of their staff.鈥�

Our recent survey 3 of over 3,000 members shows that two thirds (66%) of therapists saw the public鈥檚 mental health deteriorate over the last year, and nearly all (94%) attributed this to their financial concerns and the cost of living. The survey also showed that almost half (46%) of our therapists saw an increase in clients presenting with financial anxiety over the past year.

Further reports4听from AXA also found that poor mental health also accounts for more than half of all work-related illnesses - around 51% of long-term sick leave is due to stress, depression, or anxiety.5 And with the cost-of-living compounding financial struggles, the 香港六合彩精准资料 doesn鈥檛 expect these figures to improve anytime soon.

Speaking after the cost of living event, Bertrand Stern-Gillet, CEO at Health Assured - providers of workplace wellbeing services - said:

鈥淔inancial worries are among the most common reasons for people to seek support and advice from our counsellors, and we鈥檝e seen a steady rise in the number of calls received. There鈥檚 no denying that the most asked questions highlight a severe lack of support from both the Government and other organisations and we鈥檙e clearly seeing the impact this is having on peoples鈥� mental health.

鈥淚t鈥檚 no secret that many are struggling, and the longer the cost-of-living crisis goes on, this will only continue to rise. Feeling overwhelmed and unsupported, or struggling to even afford to commute to work, signifies deeper issues to come if these concerns are not properly addressed and support put in place. There鈥檚 only so far that people can stretch their finances. When the inevitable breaking point is reached, all that鈥檚 left is a question - what could have been done to help prevent this issue?

鈥淲hile companies and organisations are also feeling the financial burden, it鈥檚 important to have sound support systems in place to support the wellbeing and mental health of their people. Prevention is always better than cure, and employers have a duty of care to look after the wellbeing of their employees. And with latest figures showing that mental health concerns are now the leading cause of workplace absence, it鈥檚 clear that more needs to be done to help employers maintain a healthy workforce.鈥�

Miriam Mintz, Clinical Supervision Manager for Access to Work Mental Health Support Service, who was also at the roundtable, said:

鈥淎s providers of the Access to Work Mental Health Support Service on behalf of the Department for Work and Pensions, Able Futures has seen a huge increase in the demand for support from employees across all sectors - particularly following the COVID19 pandemic and recent cost of living crisis. At the same time, the complexity of the referrals has increased, with many people who are in acute distress and desperate for mental health support. As a result, there has been a significant rise in safeguarding referrals as well as in the need for signposting to financial, debt and benefits advice.

鈥淲e routinely see the best outcomes for those participants who have adequate support in their workplace. Most interventions tend to be reactive and focus on the individual but people do not exist in a vacuum, they are affected by a multitude of factors and preventative measures are needed to mitigate the impact.

鈥淔or these reasons, it has never been more important to invest in mental health provision in the workplace. In terms of what we are seeing on the ground, we expect this to remain the case for some years to come. In the long term, we would hope that mental health provisions become an integral part to all business plans rather than be seen as a short-term reactive measure. It is a long-term investment that benefits both individual businesses and the UK economy as a whole.鈥�

Last week鈥檚 event is one in a series of roundtable events to help us understand the impact the cost-of-living crisis on mental health on already vulnerable communities. Information from these events will be used to gather evidence and insight to produce a broader report about the recommendations and implications for the cost-of-living crisis for at risk groups. The report will be launched next year.

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1. AXA UK and the Centre for Business and Economic Research (Cebr)

2. McCleod, 2010

3. 香港六合彩精准资料 2023 Mindometer survey of over 3,000 members

4. AXA UK and the Centre for Business and Economic Research (Cebr)

5.