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News » Young workers’ mental health crisis costs UK economy billions

Young workers’ mental health crisis costs UK economy billions

Workforce burnout threatens employee retention – survey

LONDON, UNITED KINGDOM — The mental health crisis among young British workers has reached alarming proportions, with economic implications for the nation’s workforce and businesses.

Rising mental health toll among young professionals

According to analysis by health and life insurer Vitality, employees in their twenties and early thirties feel unproductive for nearly 60 days a year— more than their older counterparts, who report an average of 36.3 mentally “absent” days annually.

This productivity crisis is costing the British economy £138 billion ($178 billion), with the average UK worker being mentally unable to work for nearly 50 days per year.

Workplace support systems fall short

Despite available support systems, only 25% of employees utilize company wellness tools, though 85% of those who do find them beneficial. The situation is particularly dire for lower-income workers earning under £30,000 ($38,000) annually, who feel 86% more neglected by their employers compared to higher-earning colleagues.

Burnout epidemic reaches critical levels

Mental Health UK’s 2024 Burnout Report reveals that nine in ten adults experienced high or extreme stress levels in the past year. 

“The U.K. is rapidly becoming a burnt-out nation, and a worrying number of people are taking time off work due to poor mental health caused by stress,” Brian Dow, the chief executive of Mental Health UK, said.

“High levels of work absence due to poor mental health is a major challenge, but its causes are complex.”

Economic solutions and future outlook

The severity of the situation has prompted calls for governmental intervention, including suggestions for a national summit to address workplace mental health. Vitality CEO Neville Koopowitz emphasizes, “If health at work is properly managed, business and the wider economy stand to gain significantly”.

Read more here.

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