Corporate Leaders to address mental health challenges in the workplace

In an effort to boost corporate productivity and economic long-term growth Medix Global and Marsh India come together to make Mental Wellness a boardroom priority in 2023 and onwards

Bengaluru, October 09, 2023: 50% of India Inc. employees are noted to be stressed in everyday life and nearly 50% of them report work pressure to be the biggest deterrent to their mental health driving burnout1. Burnout and chronic stress are known to be associated with anxiety disorders and clinical depression.

A staggering 87% of them have reported to have worked while feeling mentally unwell leading to added mental health cost burden on India Inc. because of absenteeism, lower productivity, and attrition1. India spends only 0.05% of its health budget on mental-healthcare whereas most of the developed nations spend above 4% of their budgets on mental-health research2.

An estimated 12 billion working days are lost each year to depression and anxiety, which costs the global economy nearly $1 trillion. According to Mercer Marsh Benefits’ recent survey Health on Demand 2022, 52% of employees expect access to alternative mental health therapies and 49% anticipate the option of virtual counselling sessions, either through video chat or text, with qualified therapists, focusing on anxiety, sadness, or relationship issues.

Medix Global has joined forces with Marsh India to address the pressing issue of “Mental Health Challenges in the Workplace. The initiative aims to shed light on mental health issues and encourage collective action towards a healthier and more supportive work environment in India. Mental health disorders often remain undetected in India as there is a lack of education and awareness concerning emotional and psychological disorders. Most Indian corporates have not yet implemented solutions to address their employees’ mental health needs.

Prominent speakers from the corporate and healthcare sectors are convening to underscore the significance of prioritising mental health in the boardroom.

Mr. Prawal Kalita, Managing Director & MMB-Leader India, Marsh India, will deliver the inaugural address, while Dr. Ali Khwaja, Founder and Chairman, Banjara Academy will deliver the keynote speech.

Dr Rajiv Aggarwal, MMB India Leader (Digital Healthcare Strategy & Partnerships), Marsh India will conduct an insightful panel discussion that will provide practical solutions for companies to prioritise mental wellbeing of their employees.

Other panellists at the event:

· Ms. Shabana Ali Lodha, Total Rewards Leader-Asia, AMD

· Ms. Sigal Atzmon, President & Chief Executive Officer, Medix Global

· Mr. Ramakant Vempati, Founder & President, Wysa

· Mr. Vaibhav Singhal, Director-Global Benefits & APAC Regional Leader, PayPal

· Dr. Nimitha Menon, MMB India Leader – Health & Wellness, Marsh India

The event will take place in the week commemorating Mental Health in India, and will be held at Taj MG Road, Bengaluru, on October 11th 2023, with the participation of CEOs, CHROs, and senior leadership members from over 150 leading corporates across the city.

Ms. Sigal Atzmon, CEO & Founder of Medix Global, said, “In the dynamic world of corporate leadership, our commitment extends way beyond just profits; it encompasses the profound physical and mental health and well-being of our workforce. We are collaborating with Marsh India on this initiative aimed at paving the way for a workplace that doesn’t just enhance productivity but nurtures the holistic wellness of its valued employees, one that measures and delivers improved human and medical outcomes, alongside the financial ones. Let’s unite to dismantle the barriers around mental health and equip our workforce with the support they deserve to thrive.”

This is one of the first steps towards bringing about a cultural change through thought leadership and open dialogues with leading wellness experts and corporates.

Key Goals of the Event:

To Raise Awareness: To bring attention to the significant problem of mental health issues in the workplace.

To share Thought Leadership and Gather Insights: Gather invaluable views from influential professionals and mental health experts, who will graciously impart their wisdom and tell their stories.

Drive Conversations: Take part in open and beneficial conversation by insightful panel talks that analyse multiple elements of workplace mental health.

Call to Action: To make mental health a boardroom priority: All stakeholders to jointly work towards implementing advanced and tangible solutions to drive a healthier and thriving workforce.