The Chartered Institute of Securities & Investment (CISI) has unveiled a mental health tool on its website in support of World Mental Health Day (10 October).
The portal follows a membership survey conducted by the CISI in 2018 which found that only 46% of respondents would feel comfortable talking about mental health with their manager.
This, however, improved slightly in the 2019 survey scoring 55%.
The service was unveiled on the CISI’s website and hosts information, resources and signposts to organisations that can help those struggling with mental health issues.
“The portal aims to mirror a toolkit approach, to practical articles, activities, resources and powerful stories to enable strides towards introducing positive well-being and a reduced stigma against speaking up as essential approaches in future office environments,” the CISI said.
Cost of mental health
Simon Culhane, chief executive of the CISI, said: “According to MHFA England, mental ill health is responsible for 72 million working days lost and costs £34.9bn ($42.6bn,€38.7bn) each year, the total cost of mental ill health in England is estimated at £1-5bn per year and 75% of mental illness, excluding dementia, starts before aged 18.
“These shocking statistics speak for themselves and our 2018 inaugural survey into the mental health of our members demonstrated that work stress can be a key contributor to ill mental health, which can be largely controlled by both the leadership and culture within a firm.
“More firms in the financial services sector are showing real leadership for both their staff and the talent pipeline.
“Examples include Lloyds Banking Group Optimal Leadership Resilience Programme rolled out for 200 senior leaders and 2,000 managers and their Optimal You programme teaching 70,000 people the skills, tools and strategies, based on science, to minimise sickness and presenteeism.
“In addition, Goldman Sachs and Mind have recently launched a mental health programme to provide a £1.5m partnership for mental health support for universities.
“It is our aim with our mental health portal to support the conversation around mental health for those in the financial services profession, to end the stigma of speaking on these issues and provide a platform to support the important, brave and moving stories from individuals who have been affected by ill mental health in our sector.“