- The best companies who report mental health enjoy up to three times more profit
- Three in four companies fail to make any mention of mental health in their reporting
- Research findings welcomed by Mind, the UK's leading mental health charity
Soma Analytics, a, a digital health business that specialises in detecting and preventing mental health issues among corporate employees, has led a major study on the link between coporate reporting of mental health and earning performance that was showcased in a FTSE 100 study published here. Soma Analytics is a UK Alumnus scaleup of the EIT Digital Accelerator and is based in London.
Dolf Witttkamper, Head of the EIT Digital Accelerator, says: "Wellbeing at work is a key theme within our Wellbeing Action line at EIT Digital. We are very proud to see our alumnus Soma Analytics,for having led such an impactful study. We are convinced, thanks to companies like Soma Analytics, that wellbeing at work will improve in the coming years".
"Our study suggests that companies that ‘care' about employee mental health issues to the extent that they report on them publicly are more productive than those that don't. Businesses that openly address the issue of mental health in the workplace appear to perform better than those that don't," said Johann Huber, co-founder and CEO of Soma Analytics. "It's not possible to say if this is a causal link, but it is statistically significant and gives a good indication."
The study reveals that best-performing sectors include utilities and pharmaceutical companies. Among the worst performers are retail, consumer goods and construction businesses. All 100 companies and their results are listed.
A full copy of the report can be downloaded on 10 October at: www.soma-analytics.com/ftse100, or requested using the contact details below.
About Soma Analytics
Soma Analytics is a London-based digital health business that specialises in detecting and preventing mental health issues among corporate employees. Its Kelaa smartphone app is driven by artificial intelligence, and is used by some of Britain's largest corporations. It reduces the costs associated with employee absenteeism, presenteeism and turnover, while increasing employee resilience, productivity and engagement.
Soma Analytics is also running a large-scale randomly controlled trial (RCT) on the early detection of mental health issues in the workplace, backed by the Horizon 2020 research fund.
The costs of work-related stress and depression in the EU-27 is estimated to exceed €600 billion annually by the EU's Executive Agency for Health and Consumers (EAHC), with absenteeism (€272 billion) and lost productivity (€242 billion) accounting for the bulk of the loss.
Contacts at Soma Analytics
John Scott, Marketing Director
Johann Huber, Co-founder and CEO