Could Mental Health Support Be the Key to Landing the Desired Employee?

Posted on

Have you ever had the very best offer on the table for a desired candidate, then been baffled when they reject it in favour of something that offers less than the amount for a different employer? It happens more regularly than you think. Sometimes it can be the things you don’t consider an important factor – but to the desired candidate, it is something monumental that speaks volumes.

It needs to be expressed that we live and work in a vastly different society than in 2019. The events of the world threw our lifestyles and working requirements into complete disarray. When we emerged, we had to do things much differently – and approach the way we accept working conditions as a result.

Increased Pressure

Research into the psychological welfare of the UK workforce was underway way before the pandemic hit the world, with professionals in the finance sector a prime study. The increasing prevalence of mental health-related problems in the finance sector was widespread before everyone was forced inside their homes for lockdowns and suffered the effects of an impending recession.

More and more people in the financial sector value their mental health over high-paying, fast-paced corporate positions. 300,000 individuals leave employment each year due to mental health effects such as stress, anxiety and depression being the contributing factors.

Over 75% of employees within the financial sector as far back as 2018 stated that their firms needed to do more to safeguard employee mental health, with emotional well-being support provided by the firms being among the requests to access.

Helping Your Company

Not only do established and newer firms stand to financially benefit from implementing safeguards for mental health, but they also stand to improve employee retention. Poor mental health practice in the workplace costs employers between £33-42 billion every year – with employees disengaged from their jobs and taking days to recover. The inadequacy of mental health systems not only affects the business bottom line – today it also drives away key talent hires.

The Stigma

Many hires will not openly enquire about any mental health plans or support infrastructure within a company during the hiring process as they may feel it would reflect weakly on them. However, they will find a way to factor it into the overall decision of your substantial offer.

The stigma around mental health-related issues in the financial sector is something that companies should eliminate as part of their hiring process. Promoting that you take employee mental health as a priority, and have numerous safeguards and avenues for their workforce, helps the desired applicant to accept your offer without feeling their career prospects would be jeopardised. That can also be related through your financial recruitment Manchester partner to help identify which candidates would openly feel this is a plus for the role offered.

Contact the team at Imperium today for aid in financial recruiting Manchester and attain the key hires to grow your business.

Latest News

Keep up to date with all of our latest news below.

Retention Strategy

Why You Should Have a Retention Strategy

According to recent reports, the cost of replacing an employee is between 6-9 months’ salary on average. That figure covers recruitment costs and training expenses for the new employee also. When you factor in the additional costs from the loss of productivity between having to hire and train a new employee, it soon starts to

new hires

Showcasing Your Commitment to New Hire Growth

If there is one hugely appealing plus to a crucial candidate during your recruitment process, it will be a commitment to their growth once they accept an offer of employment. One reason that many new hires end up leaving a company after many years is that they have no further advancement opportunities with the company.

top vacancies

A Different Evaluation for Today’s Vacancies

As a business, you will feel the pinch of today’s labour market and the thin avenue of filling top vacancies. No sooner have you found a top candidate than they are being snapped up by the competition, leading to a knowledge of their worth that has them comfortable rejecting excellent offers that they feel can

View All News