September 21, 2023
A recent study reveals that 4 out of 5 employees in Asia are facing a significant risk to their mental health. According to a report by insurance broker Aon and TELUS Health, a staggering 82% of workers in Asia are at moderate to high risk of developing mental health problems. This includes 35% categorized as having a high mental health risk profile, and an additional 47% falling into the moderate-risk category.
The survey, conducted in November 2022 among 13,000 workers across 12 locations in Asia, also uncovered that 51% of respondents reported heightened sensitivity to stress compared to the previous year. The reasons behind this mental health crisis in Asia are diverse and complex. Jamie MacLennan, Senior Vice-President and Managing Director for Asia-Pacific at TELUS Health, noted that despite the easing of the pandemic, Asian employees face a range of new stressors. These include economic uncertainty, rising living costs, increased healthcare expenses, the impact of climate change, and geopolitical instability.
When it comes to identifying the countries with the highest percentage of high-risk individuals, South Korea (44%), Malaysia (42%), and Japan (41%) topped the list. The report emphasizes that mental and emotional difficulties, such as depression and anxiety, are pervasive across all industries and locations in Asia.
Additionally, the study highlights that Asia is significantly more at risk of low work productivity, anxiety, and depression compared to other regions globally. For instance, Asia’s work productivity score stands at 47.2 out of 100, in stark contrast to the U.S. at 66.7 and Europe at 60.1. MacLennan attributes these numbers, in part, to the higher levels of stigma historically associated with mental health in Asia.
More than half of the survey respondents expressed concern that their career prospects could be limited if their employer became aware of their mental health issues. Moreover, 45% of Asian employees believe their mental health negatively impacts their work productivity, with several locations reporting above-average losses, including Malaysia, India, and the Philippines.
This alarming trend should concern employers due to the potential business costs associated with it, including medical leave, long-term disability, presenteeism, and employee turnover. For example, a recent study from Singapore found that individuals suffering from anxiety and depression miss an additional 17.7 days of work per year, resulting in an estimated cost of nearly $12 billion for Singapore.
Tim Dwyer, Aon Asia Pacific’s Chief Executive Officer for Health Solutions, emphasizes that organizations that ignore the impact of mental health in the workplace or fail to provide adequate support structures will incur significant costs. Supporting employee well-being is not just a moral imperative; it is also essential for maintaining high levels of engagement and productivity, ultimately delivering a measurable return on investment.
Source: CNBC
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