Opening the Dialogue for Mental Health in Financial Services

Talking about mental health in the workplace is one of our top priorities, and the all-too-often fast-paced environments the workplace is a serious drain to any worker’s wellbeing. 

Finance is a sector continuously affected by increased pressure, competition, instability and overall poor consideration of employee wellbeing. As a result, more than 33% of reported absences are related to exhaustion and other mental health reasons (as opposed to 24% in retail and 22% in utilities (IQEQ[1])).

Between 2019 and 2021, Deloitte has recorded an increase in financial loss due to mental health-related absences and presenteeism (where one’s performances are affected by their current state of being) from £45bn to £56bn (Deloitte[2]). In one of their latest surveys, 60% of the employees in banking services admitted having worse mental health issues due to COVID-19[3]. Today, finance remains one of the top five industries with the poorest conditions to support mental health in the workplace. This situation is not a definitive outcome, and a lot can be done to benefit both the industry and employee wellbeing. 

This is why our founder, Grant Budge, will have the honour to be speaking on our behalf at the Diversity, Gender and Mental Health in Finance Services conference in London on 23rd November[4]. To learn more how we can change wellbeing in finance and banking services and what we can do to implement those changes. We will keep you updated as we go along and share our key takeaways with you, so stay tuned.