Singapore economy loses $15.7b yearly to mental health issues: report

3 weeks ago 85

Staff Reporter

, Singapore

Photo from Pexels by Daniel Reche

Workers facing mental health challenges report taking an additional 17.7 sick days per year.

Mental health issues like anxiety and depression are costing Singapore’s economy an estimated  $15.7b each year, or nearly 3% of GDP, due to increased absenteeism and reduced productivity, according to International Workplace Group (IWG).

Workers facing mental health challenges report taking an additional 17.7 sick days per year and being 40% less productive whilst at work, based on local research from Duke-NUS Medical School and the Institute of Mental Health.

Against this backdrop, hybrid work is emerging as a practical and effective way to improve employee wellbeing and workplace performance.

According to a new survey of over 4,000 hybrid workers by IWG, 36% of employees say they take fewer sick days under hybrid arrangements, whilst 70% experience fewer stress-related health conditions.

In addition, 74% say flexible working allows them to attend preventative health screenings and check-ups, helping them manage their wellbeing more proactively.

The mental health gains are also translating into stronger business outcomes. IWG’s research shows that 75% of CEOs observed improved productivity, whilst 77% reported higher employee engagement among hybrid teams.

In Singapore, where one-third of workers score low on mental health, the government is responding with new policy tools.

The Tripartite Guidelines on Flexible Work Arrangement Requests—which 81% of employers say they are ready to implement—aim to standardise support for hybrid working.

New Workplace Safety and Health Council guidelines due in 2025 will also offer strategies for companies to support employees recovering from mental health conditions. 

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