In Short
Building Psychological Safety for a Sustainable Future
As mental health awareness grows, the workplace has become a central focus for organizations seeking to foster environments where employees can thrive both personally and professionally. The theme of mental well-being is no longer just a talking point but a business imperative. With workplace mental health concerns costing the global economy nearly $1 trillion annually in lost productivity, organizations are grappling with the urgent need for meaningful action.
Industry leaders across sectors are advocating for psychological safety as a cornerstone of corporate culture, calling for an integrated approach that prioritizes mental health and well-being. The critical insights shared by experts are elaborated, who have championed mental health in the workplace and the steps businesses must take to foster sustainable, mentally healthy environments.
The Business Case for Psychological Safety
Arushi Sethi, Co-Founder and CEO of Trijog, highlights the staggering financial impact of untreated mental health issues, stating, “Workplace mental health concerns cost the world 12 billion lost workdays each year—a crisis no business can afford to ignore. Mental well-being isn’t optional; it’s a necessity. Healthy minds fuel innovation, resilience, and success.”
Sethi emphasizes the need for mental well-being to be at the core of business strategy, not just a box-ticking exercise. “With psychological safety embedded into corporate culture, employees can perform at their highest level. It’s about creating an environment where every individual feels valued and supported, leading to better outcomes for both employees and the company as a whole.”
The Financial Burden of Neglecting Mental Health
Sahej Sethi, Co-Founder and COO of Trijog, underscores the disconnect between the high cost of mental health issues and the lack of sufficient investment in employee well-being. “Despite mental health costing the global economy $1 trillion annually in lost productivity, companies are still underinvesting in their employees’ well-being. Every sector—from technology to manufacturing—needs to prioritize psychological safety, yet most workplaces fall dangerously short.”
Sethi calls for companies to recognize the long-term benefits of investing in mental health. “We need to go beyond superficial initiatives and implement comprehensive programs that address the root causes of stress, burnout, and anxiety in the workplace.”
The Leadership Imperative for Psychological Safety
Leaders from various industries have echoed the need for a paradigm shift in how mental health is addressed at work. Yashwant Mahadik, President Global Human Resources at Lupin, stresses the responsibility of leadership in creating psychologically safe environments. “Leadership is not just about hitting targets—it’s about ensuring that employees have the emotional and psychological support they need to be their best selves at work. Mental health should be a leadership priority, as it directly impacts organizational success.”
Kavinder Singh, Joint Managing Director of Pidilite Industries Ltd., adds, “Corporate leaders must actively foster environments where employees feel safe to express themselves without fear of judgment or repercussions. This not only improves mental health outcomes but also fosters creativity, collaboration, and innovation.”
The Role of Organizational Culture in Mental Well-Being
Dipali Goenka, MD & CEO of Welspun Living Limited, emphasizes that mental health initiatives cannot succeed without the backing of a supportive company culture. “Mental well-being must be woven into the fabric of an organization’s culture. This means going beyond wellness programs and creating a workplace where open dialogue about mental health is encouraged and normalized.”
Goenka points to the need for systemic change: “It’s about adopting policies that promote work-life balance, flexibility, and access to mental health resources. This ensures that employees feel cared for, which in turn enhances engagement and productivity.”
The Value of Holistic Approaches to Employee Well-Being
Holistic health advocate Luke Coutinho brings a unique perspective, arguing that mental health in the workplace extends beyond individual wellness programs. “Mental well-being is interconnected with physical and emotional health. Organizations must adopt a holistic approach that looks at employee well-being from all angles. This includes mental health support, but also promoting healthy lifestyle choices, proper nutrition, and stress management.”
Coutinho encourages organizations to view mental health through a broader lens: “Workplace wellness initiatives should empower employees to take charge of their overall well-being, with mental health being a key component of that equation.”
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A Call to Action for Businesses
The insights from these leaders highlight the need for businesses to go beyond superficial wellness initiatives. Meaningful investment in mental health is essential, not only for the well-being of employees but also for the long-term success of the organization. With the global economy increasingly reliant on innovation and creativity, the mental health of the workforce is a critical factor in remaining competitive.
Arushi Sethi sums up the imperative well: “Mental well-being is not just a checkbox; it’s the foundation of a thriving, resilient business. Companies that prioritize psychological safety are investing in their most valuable asset—their people. It’s time to make mental health a non-negotiable element of every workplace.”
In an era where businesses are being called upon to do more with less, the most forward-thinking organizations will be those that prioritize mental well-being, fostering environments that allow their employees to thrive both personally and professionally. The future of work depends on it.
Views sourced from ‘Diversify with Trijog – Chapter 2’ held on October 1, 2024, at Jolies, Worli, Mumbai.
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