How can you reduce staff turnover?

At a time when economic growth is sluggish, many are hoping that the nation’s wealth creators will be able to drive an increase in output over the coming months.

So as a business owner yourself, what practical steps can you take, beyond stepping up your marketing activity and delivering the best possible service to your customers?

Well, looking after the mental health of your staff is key, as last year, the UK economy lost 17.1 million days of sickness absence to work-related stress, depression and anxiety.

According to research by Unum UK, just 49 per cent of UK employees believe their employers are adequately equipped to manage mental health issues.

That’s a real concern, as 78 per cent of respondents said they’d be willing to leave their jobs due to excessive stress and a lack of mental health support in the workplace.

Only one issue – salary considerations – came ahead of mental health in the list of factors driving employee turnover, so it’s clear that it’s something employers can’t just ignore.

Invest in wellness programmes
So what’s the solution? Well, it’s clear that employees value mental health support.

In fact, 57 per cent of UK employees said that if robust health and wellness programs were in effect in their place of work, they could be convinced to stay.

This points to a clear call to action for businesses: investing in comprehensive mental health strategies can significantly reduce staff turnover.

Taking action for a healthier workforce
Liz Walker, Chief Operating Officer at Unum UK, described the findings as “concerning” and called on bosses to act.

“There’s still work to do for some employers, including introducing high-quality proactive measures to address and support workplace stress and overall mental health,” she said.

“By creating positive, supportive and inclusive working environments, employers can not only improve employee retention but also help foster a healthier, more engaged and productive workforce.”

The Workers Union added: “This superb study is a crucial indicator of the needs and pressures facing the modern workforce, which we have been highlighting for many years.

“Addressing these challenges is essential not only for the wellbeing of employees but also for the health of the entire business sector.”

Investing in your employees’ mental health might require some effort, but the results are clear: a happier, more productive, and loyal workforce leads to less disruption and a thriving business.

And that can only be good for the wider economy too.