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BE2601 Management Principles, Skills and Competencies

   

Added on  2022-09-15

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BE2601
Management Principles, Skills and Competencies
Reflective & Evidence Based Learning Report
(Field Work)
Pak Yong Hui
U2010034A
Seminar Group 13
Word Count: 1533
Submission Date: 19 Mar 2022
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Introduction
Employee mental wellbeing is always important in the business world, as an organisation’s
best resource are its people. Due to the pandemic, people were socialising less and working
more, resulting in behavioural health issues including anxiety and stress to be more widespread
than ever. In a McKinsey analysis, 1 in 3 of the US population could potentially develop
behavioural health issues (Figure 1).
Figure 1
Closer to home, over 90% of employed respondents in Singapore reported feeling stressed-out
(Cigna, 2019). As such mental health issues are no longer thought of as uncommon but are
instead pervasive in our society and must be addressed.
Mental distress can negatively impact a company in the form of reduced productivity,
absenteeism, and healthcare cost. To quantity its economic impact, a study on depressive
disorder in the United States found the cost of mental health to be $210 billion, with over half
attributable to absenteeism / presenteeism in the workplace.
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On the other hand, a company that invest in mental well-being will be able to reap multiple
benefits. 1 in 3 respondents in a Mind Share mental health at work report has reported leaving
a role due to mental health reasons while over 86% of job seekers view mental health
support in a company’s culture as important (Figure 2).
Figure 2.1
Figure 2.2
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