Employee retention is a crucial issue for organisations, as high turnover rates can lead to increased costs, reduced productivity, and a loss of valuable knowledge and expertise.
One often-overlooked factor contributing to employee turnover is mental health. By investing in mental health training and support for employees, organisations can improve retention rates and foster a healthier, more engaged workforce.
This article will discuss the cost of employee turnover due to mental health issues, the role of workplace mental health support in employee retention, and how mental health training can improve employee retention.
The Cost of Employee Turnover Due to Mental Health Issues (Knudsen et al., 2003)
Employee turnover can be costly for organisations, with expenses associated with recruitment, training, and lost productivity. A study by Knudsen et al. (2003) found that mental health issues, such as depression and anxiety, can be significant contributors to employee turnover. When employees struggle with mental health issues, they may be less engaged in their work, have difficulty maintaining job performance, and ultimately decide to leave the organisation. By addressing mental health concerns, organisations can potentially reduce turnover and the associated costs
The Role of Workplace Mental Health Support in Employee Retention (Martin et al., 2018)
Providing workplace mental health support can play a critical role in employee retention. According to a study by Martin et al. (2018), organisations that prioritise mental health and offer support services, such as Employee Assistance Programs (EAPs) and mental health training, can experience lower turnover rates. By creating a supportive work environment where employees feel comfortable discussing mental health concerns and seeking help, organisations can improve employee satisfaction and retention.
How Mental Health Training Can Improve Employee Retention (Biron et al., 2010)
Mental health training can be an effective strategy for improving employee retention. A study by Biron et al. (2010) found that organisations that implemented mental health training programs experienced a reduction in turnover rates. Mental health training can benefit employees and organisations in several ways:
- Increased Mental Health Awareness: Mental health training can help employees recognise the signs and symptoms of mental health issues, enabling them to seek help earlier and potentially reducing the impact on job performance and satisfaction.
- Improved Coping Strategies: By teaching employees effective coping strategies and stress management techniques, mental health training can help individuals better manage their mental health, leading to increased job satisfaction and a lower likelihood of leaving the organisation.
- Supportive Work Environment: Mental health training can help create a supportive work environment where employees feel comfortable discussing mental health concerns and seeking help, contributing to a sense of belonging and connection within the organisation.
- Enhanced Employee Engagement: Employees who feel supported in managing their mental health are more likely to be engaged and committed to their work, resulting in improved performance and a higher likelihood of remaining with the organisation.
Investing in mental health training can have significant benefits for both employees and organisations. By addressing mental health concerns, organisations can create a supportive work environment, reduce the costs associated with turnover, and improve employee retention. Ultimately, mental health training can contribute to a healthier, more engaged workforce and a more successful organisation.