Employees in Asia are under “significant mental health strain,” with 82% having a moderate to high risk of developing mental health issues.
That is based on a latest report from insurance broker Aon and TELUS Health, which found that 35% of staff in Asia have a high mental health risk profile, and 47% have a moderate risk.Â
The survey, which was conducted in November 2022 amongst 13,000 staff across 12 locations in Asia — also found that 51% are feeling more sensitive to emphasize in comparison with 2021.Â
“While the pandemic could have been drawing to a detailed in 2022, employees across Asia have been exposed to numerous latest stressors,” said Jamie MacLennan, senior vice-president and managing director for Asia-Pacific at TELUS Health.
“That features economic uncertainty, cost-of-living challenges, rising healthcare costs, climate change impacts, and geopolitical instability,” he told CNBC.
Employees with a high risk of developing mental health issues
| Location | Percentage |
|---|---|
| South Korea | 44% |
| Malaysia | 42% |
| Japan | 41% |
| Hong Kong | 40% |
| China | 39% |
| India | 39% |
| Vietnam | 35% |
| Taiwan | 35% |
| Singapore | 34% |
| Philippines | 31% |
| Thailand | 29% |
| Indonesia | 17% |
Source: Aon TELUS Health Asia Mental Health Index report
South Korea (44%), Malaysia (42%) and Japan (41%) had the very best percentage of employees who’re high-risk individuals. Â
“Mental or emotional difficulties, including depression and anxiety, are prevalent amongst employees in any respect levels and in every surveyed industry and placement throughout Asia,” the report added.Â
Lost productivity in Asia
Asia is “significantly” more vulnerable to low work productivity, anxiety, and depression in comparison with other parts of the world, which highlights a “growing concern” of workplace well-being within the region.
For instance, Asia has a piece productivity rating of 47.2 out of 100, in comparison with 66.7 for the U.S. and 60.1 for Europe.
“These numbers are driven by numerous aspects, starting with the incontrovertible fact that Asia has traditionally had far higher levels of stigma related to mental health,” MacLennan explained.
“Greater than half of respondents said they might be concerned about profession options being limited in the event that they had a mental health issue that their employer was aware of.”
Organizations that don’t implement support structures or decide to dismiss the impact of mental health of their workplace will realize there’s a big cost in doing nothing.
Tim Dwyer
Aon Asia Pacific
The report also found that 45% of employees in Asia imagine their mental health is having an impact on their productivity at work — with seven locations reporting “higher than average” losses, including Malaysia, India and Philippines.Â
This needs to be a priority for employers, as a consequence of business costs that may arise comparable to medical leave, long-term disability, presenteeism and worker turnover, the report said.
A recent study from Singapore found that individuals with anxiety and depression reported being less productive, missing “an additional 17.7 days of labor per 12 months.”
This lost productivity attributable to anxiety and depression can be estimated to cost Singapore almost $12 billion.Â
“Organizations that don’t implement support structures or decide to dismiss the impact of mental health of their workplace will realize there’s a big cost in doing nothing,” said Tim Dwyer, Aon Asia Pacific’s chief executive officer for health solutions.
“Supporting employees’ wellbeing is crucial for organizations to take care of high levels of engagement and productivity to deliver measurable return on investment.”
1 in 3 haven’t any emergency savingsÂ
Apart from stress, anxiety and burnout being essential aspects that impact employees’ productivity — financial insecurity also goes “hand-in-hand with high mental health risk,” said the report.Â
That is very true in today’s economic environment, where employees are fighting rising costs and tightened purse strings.Â
“Financial wellbeing is closely linked to things that make life enjoyable and meaningful, each in the current and along the journey to retirement,” the report added.
In accordance with the survey, employees in Asia have a better financial risk in comparison with the remaining of the world — about 1 in 3 don’t have emergency savings and say their financial well-being has a big impact on their mental health.
Those without emergency savings are 60% more prone to have difficulty concentrating at work in comparison with employees with emergency savings, the report added.Â
Employees without emergency savings
| Location | Percentage (%) |
|---|---|
| Philippines | 48% |
| Malaysia | 42% |
| China | 39% |
| South Korea | 36% |
| Japan | 35% |
| India | 34% |
| Vietnam | 32% |
| Thailand | 31% |
| Hong Kong | 29% |
| Taiwan | 29% |
| Indonesia | 28% |
| Singapore | 28% |
Source: Aon TELUS Health Asia Mental Health Index report
Locations which have the very best proportion of employees without emergency savings were the Philippines (48%), Malaysia (42%) and China (39%).Â
The report added that corporations play a task in providing educational programs that might help employees “construct healthier money habits” and supply access to confidential, evidence-based counseling.
Those surveyed reflected that the popular mode of receiving mental health support is face-to-face meetings or onsite counseling, which employers “need to think about.”
“Clearly and repeatedly promoting and explaining the health resources available … is essential to helping employees find appropriate care and addressing problems before they escalate into more complex issues that take longer and are costlier to resolve,” said the report.
