While depression isn’t often talked about in the workplace, it is a hidden cost that is most likely affecting your company’s bottom line. Studies indicate that at least 10% of employees have depression, and on average, a depressed employee loses 32 workdays per year (Archives of Psychiatry, October 2007). This means a loss in productivity and increased absenteeism, disability leave and medical care that some experts believe cost employers an estimated $51 billion per year.
The following is a list of what UNTREATED depression in the workplace may look like:
- Decreased productivity
- Absenteeism, tardiness
- Increased errors, diminished work quality
- Procrastination, missed deadlines
- Withdrawal from coworkers
- Overly sensitive and/or emotional reactions
- Decreased interest in work
- Slowed thinking
- Difficulty learning and remembering
- Slow movement and actions
- Frequent comments about being tired all the time
These common issues can drain your company’s work output, team morale and even result in loss of business. The good news is that depression is highly treatable. A combination of psychotherapy (i.e., talk therapy) and medication works in over 80% of the cases for people suffering from depression.
Since treatment is so effective and the costs of untreated depression are so high, the question is how company managers can address the sensitive issue of depression in the workplace in a way that is both respectful and effective.
Anonymous, voluntary online screening may be an option. Offering online screening is one way you can let your employees know that you care about their mental health while respecting their privacy. It is also effective in prompting people who are experiencing symptoms of depression to seek treatment. A 2008 study conducted by the University of Connecticut showed that 55% of people that responded to a follow-up survey and had scored “likely” or “very likely” for depression through online screening sought treatment within three months of the screening.
Using a sample technology company, with 2,496 employees, it was estimated that 174 employees were depressed, causing the company to lose between 3,836-5,579 work days per year to absenteeism and or low productivity, and experience a total financial loss of $594,634-$960,0178 per year.
With numbers this staggering it seems clear that depression is a factor that company managers can not ignore. Depression puts a real strain on workplace productivity and morale. However, due to new tools and greater awareness of this disorder, managers can be proactive and bring this hidden cost under control.