Whenever I think about the stock markets, I’m bombarded with images of Leonardo DiCaprio, as Jordan Belfort, in the movie “The Wolf of Wall Street.” This cinematic work, which won five Oscars, including Best Actor, is actually much more than pure entertainment. Based on the memoir of a Wall Street stockbroker who worked his way from the bottom to the top in the financial world, and named after the character, it seeks to depict a real-life scenario of the excesses and compulsions that led him into a state of profound mental madness. .
Although this is an exaggeration, it is true that the pressures on people working in this highly financed world are beyond measure. These stress levels are, of course, ideal ingredients for the emergence of different levels of mental illness. From anxiety to deep depression. But, unfortunately, this reality is not limited to this sector.
According to a study published this year by the Psychiatric Association entitled: “The cost of mental health problems at work”It is estimated that one in six workers in England suffer from depression, anxiety or stress-related problems. If we put a magnifying glass on Portugal, the estimate, according to the same study, is that 2 in 10 workers suffer from mental health problems.
But if we go to absolute numbers, the scenario becomes even more frightening. The World Health Organization reports that 300 million people globally suffer from depression and 260 million people suffer from anxiety, and predicts that by 2030, depression will be the leading cause of illness in the world.
Why is this important for sustainability, especially for businesses? It seems clear. The consequences directly resulting from this situation, such as absenteeism, presenteeism or loss of productivity, not only exacerbate the already complex psychological situation of these people, who enter into a vicious circle that affects the quality of life of millions of families at various levels (financial, emotional, relational, etc.) , but it also means a significant and very real cost to companies’ results. In England alone, the cost of mental health problems associated with poor mental health is estimated at £35.25 billion a year, with two-thirds of these costs attributable to lost productivity. We are talking about a negative impact on GDP of 4.1% (60.5 billion pounds annually).
But – surprisingly – for many organisations, this is still insufficient evidence. Another study, presented by the Center for Responsible Business and Leadership at Católica Lisbon in 2022, on the latest developments in the field of mental health in organizations, with a sample of 54 companies, in 16 different sectors, in Portugal, concluded that: The promotion of mental health within their organizations was not A priority for 7% of these companies; It was not a priority, but rather a source of concern for 39% of companies. And 17% were taking their first steps. In other words, for approximately two-thirds of companies in this universe, this topic is not yet a priority.
This is incomprehensible, even from the point of view of the self-interest of organizations, if we take into account that for every 1.17 euros invested in measures to promote mental health, there is an average return of 6.11 euros (Deloitte study, published in 2017). 2022). In other words, making mental health a top corporate priority is not only a “must have” from an ESG performance perspective, but it is also a key business metric. What do you want to know more?
On World Mental Health Day, which is celebrated today, it is worth saying that we live in a world where wolves multiply, but when it comes to expelling the wolf from our home, we are still in the stage of lambs walking in a flock, waiting for someone to tell them what to do. However, there are many good exceptions and a lot of good work done in Portugal. Especially during this October, if you want to know more, just do an online search and attend some of the company’s events, which will share many of the practices that have achieved the best results in this regard. It will not be for want of information and inspiration that we will keep the wolf menacing at the door.
Mario Henriques
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