Worker struggles with mental health is contributing to at least a day lost in productivity every week, according to Telus Health Mental Health Index.
The Index revealed workers with diagnosed anxiety lose 57 working days in productivity per year, while workers with diagnosed depression lose 58 working days in productivity per year.
But the Index also found workers with diagnosed sleep issues lose 52 working days in productivity per year and those with mental health conditions other than anxiety or depression lost 61 working days in productivity per year
Workers under 40 were twice as likely as workers over 50 to report being diagnosed with anxiety and depression and women were found to be 70% more likely than men to report being diagnosed with anxiety
Almost six in 10 (58%) of office workers said they would prefer a 5-day work week with the ability to work remotely as much as they want, while 42% would prefer a four-day work week in office.
But the report also showed the ramifications for employers are real as 41% were thinking about leaving their job, or were unsure.
Managers were found to be more than 30% more likely than non-managers to consider leaving their job for a better job or career opportunity.
Parents were nearly twice as likely as non-parents to report that better benefits were the reason they are considering leaving
Under 40s were nearly three times more likely than workers over 50 to consider leaving their job for a better job or career opportunity, and nearly twice as likely to consider leaving for better benefits.
Paula Allen, global leader and senior vice-president of research and total wellbeing at Telus Health, said: “Our Telus Mental Health Index findings reveal the impact of diagnosed health conditions on employees and productivity, highlighting the need for employers to put more focus on – and resources into – employee health.
“By helping employees achieve an optimum point in their own personal health scale, employers will reap the benefits of lower cost, increased employee engagement and productivity.
“This means having accessible mental health support and services in place, communicating these services, and providing education to address stigma.
“It also means training managers on mental health in the workplace and their role in supporting it. While managers are not expected to be mental health counsellors, they do play a role in fostering a psychologically safe workplace and providing support when needed.
“Another part of one’s experience in the workplace is flexibility, which our findings show as a contributor to employee well-being. Flexibility will show itself in many ways, so employers should work with employees, to determine the type of flexibility that is possible and most needed.
“Job retention is increasingly important in today’s uncertain economic climate, and it is very telling that workers are placing equal, if not greater, importance on better wellbeing support compared to job promotions or career opportunities.
“This highlights an opportunity for employers to meet employees’ needs by providing resources and real-time support that go beyond financial considerations and job promotions in order to maintain morale and ultimately retain top talent.”