AXA makes case for mental wellbeing at work

AXA makes case for mental wellbeing at work | Insurance Business New Zealand

Insurance News

AXA makes case for mental wellbeing at work

New report examines workforce mind health

Insurance News

By
Terry Gangcuangco

AXA has unveiled the latest edition of its Mind Health Report, which sheds light on the concerning state of mental health globally. The report, now in its fourth edition, reveals that nearly a third of people worldwide suffer from a mental health condition.

This year’s research, a collaborative effort with IPSOS, surveyed 16,000 individuals from 16 countries spanning Europe, Asia, and the Americas to better understand and address mental health and wellness challenges across the globe.

The focus of the current edition was on the mental health and wellbeing of the workforce. It was found that three in four employees are grappling with various mental health issues attributed to their work environment, with a majority (almost 70%) feeling disengaged.

According to AXA, the impact of work on mental health appears to be more pronounced among younger workers. About a quarter (23%) of all employees have taken mental health-related sick leave, but the number climbs to 38% for younger colleagues.

Additionally, a significant portion (62%) of the workforce between the ages of 18 and 44 consider the mental health support offered by employers a key factor in their decision to stay with a company.

Currently, roughly 40% of workers seek professional assistance for job-related mental health issues, while about 70% feel they could turn to family, friends, or peers for support.

Patrick Cohen, chief executive for European markets & health at AXA, said: “Health and wellbeing are at the heart of our insurance business and are also key commitments for us as a responsible employer. The fourth edition of the AXA Mind Health Report highlights a clear business case for caring for employees’ mind health.

“When people’s mind health improves, they flourish, and in turn, so do our businesses and economy. By building communities focussed on mental health prevention and raising awareness, we are proud to contribute to breaking current stigma and healthcare access barriers. Companies have a vital role to play in empowering their employees to regain control over their futures.”

What do you think about this story? Share your thoughts in the comments below.