Findings published by the wellbeing organisation, Unmind, revealed that the leading cause of poor mental health is stress, according to 44% of respondents to a survey, which consequently has a negative impact on job performance.
Among other respondents, 43% believe that lack of fulfilment plays a major part in their decline of wellbeing, while 37% raised concern on insufficient support from their firms.
The research suggests that large law firms that have around 2,400 employees lose around £65 million each year, while medium-sized firms (around 1,400 employees) lose around £34 million.
Smaller firms that employe around 600 people lose around £6.8 million on average.
Statistics within the study showed that a major part of mental health-related loss was due to presenteeism, where employees are physically present but not functioning at their capability due to poor wellbeing. Other sources included employee turnover and absenteeism.
Based on responses from 4,400 legal professionals from firms across the UK and US, the study suggests that partners are less likely to encounter mental health challenges in comparison with associates. Around 32% of associates reported that employees openly discuss mental health and wellbeing at their firm, compared to 43% of partners.
Chief Executive of Unmind, Dr Nick Taylor believes that despite investment in the area, there is still a lot of work to be done on wellbeing in the legal sector. He said:
“Despite increased wellbeing investment, issues like absenteeism, burnout, and attrition are still rising in the legal sector Within this study, we show how these challenges impact both individuals and organisations, with law firms seeing significant financial impact.”
It is clear that exercises that are considered tick-box are not enough to tackle an issue like wellbeing within the profession and a more permanent solution is required. Dr Taylor continued:
“Successful, lasting change requires initiatives that reach every organisational level, starting with senior leadership. This is especially important in law firms, as employees perceive a lower commitment to wellbeing from senior leaders compared to other sectors.”
