When we consider income, the focus is typically on education, skills, and experience; however, mental health is a significant factor that shapes our financial well-being. Mental health challenges, including anxiety, depression, and chronic stress, don’t just affect our personal lives but also influence our career trajectory, productivity, and earning potential in both direct and indirect ways.
Mental health effects on professional performance
Poor mental health can affect memory, time management and concentration. This is not a personal failing of the individual and does not mean that they are any less capable; rather, the symptoms of their poor mental health are sapping their motivation and slowing their ability to do their day-to-day work.
An example of a mental health condition that can affect your professional performance is depression; those experiencing depression may find it harder to begin tasks, meet deadlines, and have a lack of confidence in their decisions.
The effects of poor mental health can directly affect earnings, as the symptoms described above can lead to poorer performance reviews, missing out on promotions, and job security, which are all directly tied to lifelong earnings.
Career interruptions
Mental health conditions are a leading cause of workplace absences, with 1 in 5 or 20% of workers taking time off from work due to poor mental health from stress in 2023. Those who take time off work due to their poor mental health through long-term sick leave and frequent absences can often experience job loss, have a stalled career progression, and reduced hours, which can lower earnings.
When those who have taken time off work for mental health conditions return to work, they may need to shift to a less stressful role or a part-time schedule to take care of their health. This often results in lower earnings.
Education and early career
The effects of mental health conditions on people’s earnings can begin before they even enter the workforce. Those who experienced episodes of poor mental health during their time at school and university may struggle to complete the necessary qualifications, internships and networking that can lead to higher lifetime earnings. Those who experienced poor mental health in education can start on lower salaries and have fewer opportunities for career advancement, which can affect earnings for someone’s lifetime.
The stigma
Despite growing awareness, stigma around mental health remains in many workplaces. As a result, employees may feel pressured to conceal their struggles and avoid conversations about reasonable adjustments that could help. This silence can, in turn, worsen their mental health.
Changing the course
‘Mental health is not only a personal matter, but an economic one’
Recognising the clear link between mental well-being and earning potential is crucial to not minimising your earnings and limiting your potential.
One in two people experience a mental health condition in their lifetime, you are not alone, despite the still common workplace stigma. Awareness campaigns have made strides in increasing understanding of how to aid those who experience poor mental health in the workplace.
Those who begin to feel that they are developing poor mental health in the workplace can alleviate the symptoms through strong workplace support and early intervention. These coping strategies can be achieved through building support networks, seeking timely treatment, and advocating for empathetic workplace policies for mental health conditions.
Sources
‘One in five took time off because of stress last year, report reveals’ – People Management
‘Mental Health’ – OECD
‘What can we learn about the effect of mental health on labor market outcomes under weak assumptions?’ – Science Direct
