AXA Health and WPI Economics report: Health and Work – Improving the resilience of the UK workforce
The UK economy can expect to lose £66.3 billion annually in lost productivity due solely to long-term sick leave in the next five years if current sickness absence levels continue.
Urgent action is needed, this report states:
1. Transparency and standards on workplace health at large companies by ensuring that companies disclose their approach to workforce health to employees, investors, and customers.
2. Mental health line manager training and standards – including disclosure of levels of training by larger companies, a grant for SMEs, and an aspiration to incorporate line manager mental health training into HSE guidance over time.
3. Improving mental health education and support in schools – including greater funding for Senior Mental Health Leads and expanding mandatory health education to post-16 learners.
Download the full report to find out:
- A 25% increased uptake in workplace health insurance products could yield £750 million annually.
- Better mental health line manager training and standards could deliver £175m of total economic benefits annually.
- Just a 5% fall in the cost related to child mental ill health could save employers around £400 million per year from costs related to the knock on effects of child mental ill health on working age parents.
Supplied by REBA Associate Member, AXA Health
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