fbpx
Connect with us

News

Poor Mental Health & Stress Costs Malaysia’s Economy RM14.46 BILLION Per Year

Published

M'Sian Economy - World Of Buzz
Source: Thrive Global and VectorStock

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Mental health plays a major factor in national economies due to its disarming nature. The rise of mental illnesses in today’s society isn’t helping to further the country’s economy either. Higher levels of stress often lead to exhaustion and employees burning out, and this tremendously affects the productivity of a company and causes the company to experience massive losses. 


Source: Giphy

According to an article published by The Star, our state of mental health costs our economy a whopping amount of RM14.46 billion per year. A local mental health organisation known as Relate Mental Health Malaysia states that the staggering amount was the estimated business cost of mental health disorders among employees in 2018. The amount is nearly equivalent to 1% of Malaysia’s 2018 gross domestic product (GDP).

Relate’s study highlights three major factors that link mental health and Malaysia’s economy. The main factor was workers turning up to work, even when they’re unwell. This alone costs close to RM10 billion out of the RM 14.46 billion. Other major factors also include absence and staff turnovers.

I want to emphasize that this is a very conservative estimate. If you look at global trends, it’s much higher,” states Dr Chua Sook Ning, the founder of Relate.

The Relate report further highlights that depression and anxiety cost US$ 1.15 trillion in productivity across the world. The cost is expected to rise in tandem with the increase of mental health issues. According to Dr Chua, Asians are more likely to show physical symptoms such as muscle aches and fatigue. However, they are also less likely to admit that they are either depressed or suffering from anxiety. Unfortunately, this also makes mental illnesses hard to be diagnosed and treated.


Source: Giphy

According to the article, employees would much rather suffer in silence because they have a lack of trust towards the system. This distrust is there because they believe that there is a lack of confidentiality when they choose to confide. 

Malaysia’s Deputy Women, Family and Community Development Minister, Hannah Yeoh urged employers to proactively acknowledge and tackle mental health issues before it’s too late. 

A sustainable economy takes into account both the employees’ well-being and the country’s financial state. Everyone should look after each other in these stressful times and work towards better care for our mental health! 

 

Also read: Study: More Than Half of Malaysian Employees are Overworked and Suffer Sleep Deprivation

Study 51 Of Malaysian Employees Suffers Work Stress And 53 Are Not Getting Enough Sleep World Of Buzz 5 450X

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Feat Image Death Feat Image Death
News8 hours ago

18yo Teen in Penang Dies from Electrocution While Charging His Smartphone Using Socket on Express Bus

A teenager has tragically died in Butterworth, Penang, after he was electrocuted while charging his smartphone using a socket onboard...

Feat Image Twin Tower Feat Image Twin Tower
News11 hours ago

M’sian Activist Urges KLCC Twin Towers be Renamed “Sabah & Sarawak” in Honour of The Borneo States

Malaysian activist and founder of Saya Anak Sarawak (SAS) Peter John Jaban has urged for the KLCC Twin Towers to...

Collage 13 Collage 13
News11 hours ago

“They’ve been here over 3 months” – Foreign Beggars at Johor Pasar Malam Make up to RM12,000 a Month

Foreign beggars are making up to RM12,000 a month at a night market in Johor. In an official statement by...

Feat Image Parking Fine Feat Image Parking Fine
News13 hours ago

M’sian Vehicle Owners with Unpaid Parking Fines Face CTOS Blacklist as They’re Now Added to The System

The Miri City Council (MCC) has introduced a new measure to ensure that vehicle owners in Sarawak’s second-largest city adhere...

Feat Image Arrest Feat Image Arrest
News13 hours ago

Thai Police Arrests Famous Kelantanese Female Celebrity at Golok Hotel for Possession of 6,000 Meth Pills

A popular Kelantanese female singer was arrested by the Thai Police at a hotel in Golok, Narathiwat, north of the...

Collage 12 Collage 12
News16 hours ago

Kelantan Govt Says Cinemas in the State Must Play Movies With Lights On to Prevent ‘Unhealthy’ Activities

After a few decades, Kelantan remains one of the states in Malaysia that don’t have cinemas. The state government, however,...

Feat Image Indo Ban Pixel Feat Image Indo Ban Pixel
News1 day ago

“Who’s next?” – After Apple iPhone 16 Series, Indonesia is Now Banning Google Pixel Smartphones in The Country

Previously, we shared how Apple’s latest flagship smartphone series, the iPhone 16 Series, is currently banned from being sold in...

Feat Image Bnm New Rule Feat Image Bnm New Rule
News2 days ago

Bank Negara Now Requires All Money Changers in Malaysia to Record Full Name & IC Number of Customers

If you’re planning on visiting your local authorised money changer before that overseas trip to change Malaysian Ringgit banknotes to...

Announcement

Latest Videos



TRENDING TODAY