Employees in Asia are facing significant mental health strain, with a high risk of developing mental health issues, according to a new report from insurance broker Aon and TELUS Health. The survey, conducted in November 2022 among 13,000 workers across 12 locations in Asia, revealed that 82% of employees have a moderate to high risk of developing mental health issues. Of these, 35% have a high mental health risk profile, while 47% have a moderate risk. The report also found that 51% of workers in Asia are feeling more sensitive to stress compared to 2021.
The survey identified South Korea, Malaysia, and Japan as the countries with the highest percentage of employees at high risk of developing mental health issues. Additionally, the report highlighted that mental or emotional difficulties, including depression and anxiety, are prevalent among employees at all levels and in every surveyed industry and location throughout Asia.
Asia is also significantly more at risk of low work productivity, anxiety, and depression compared to other parts of the world. The region has a work productivity score of 47.2 out of 100, lower than the scores of the U.S. (66.7) and Europe (60.1). The report attributed these numbers to the higher levels of stigma associated with mental health in Asia. More than half of respondents said they would be concerned about career options being limited if they had a mental health issue that their employer was aware of.
The report emphasized that organizations that ignore the impact of mental health in the workplace will face significant costs. It cited business costs such as medical leave, long-term disability, presenteeism, and employee turnover. A recent study from Singapore found that individuals with anxiety and depression reported being less productive and missing an additional 17.7 days of work per year, resulting in an estimated cost of almost $12 billion for Singapore.
In addition to mental health issues, financial insecurity was found to be closely linked to high mental health risk among Asian employees. The survey revealed that about 1 in 3 employees in Asia do not have emergency savings, and financial well-being significantly impacts their mental health. Those without emergency savings are 60% more likely to have difficulty concentrating at work compared to employees with emergency savings.
The report suggested that companies can play a role in addressing financial insecurity by providing educational programs to help employees build healthier money habits and access confidential counseling. It also highlighted the importance of promoting and explaining available health resources to help employees find appropriate care and address problems before they escalate. Face-to-face meetings or onsite counseling were identified as the preferred modes of receiving mental health support by the surveyed employees.
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