Veterans’ Mental Resilience & Productivity Adds to Business Competitive Edge
According to studies on mental health of our workforce it is estimated that nearly 20% of working-age adults in the U.S. experience some type of mental health challenge in a given year. That number is higher for veterans in the workforce who, in general, are underemployed given their skillsets, work disciple and leadership potential.
$500 billion annually
Statistics show that depression and anxiety cost businesses an estimated $500 billion annually in lost productivity.
Employers are experiencing the effects of employees, including veterans, who can’t simply leave stress and mental health issues at home. This means that employers will continue to absorb rising lost productivity due to impaired performance, presenteeism and absenteeism.
Disengaged workers had:
- 37% higher absenteeism
- 49% more accidents
- 60% more errors and defects
Queens School of Business and by Gallup) and cost the U.S. $450 to $550 billion per year in lost productivity.
Heal the Hero Foundation funded a pilot program for veterans employed by Charles Schwab. The purpose of the grant was to demonstrate the effectiveness of brain performance programs for increased stress resiliency and improved work performance. Program highlighted outcomes were:
- 74% reduction of trauma and stress
- 17% improvement in executive functioning
- 30% overall improvement in quality of life
- 271% overall improvement of sleep satisfaction
Studies show that up to a 10-to-1 return on investment in mental health training programs illustrating the fact that addressing workplace mental health might be the competitive advantage to executives in the future. Organizations with highly engaged employees had an average 3-year revenue growth 2.3 times greater than companies whose employees were only engaged at an average level.
UNC Kenanflager Business School) Customer retention rates are 18% higher on average when employees are highly engaged.