AXA Study: Hong Kong workers buckling under high stress and poor mind health

More than 3 in 4 Hong Kong workers face mind health issues at work, with nearly half taking sick leave

HONG KONG, Aug. 12, 2024 /PRNewswire/ — The majority of the working population in Hong Kong suffers from multiple mental health problems related to work, and disengagement is alarmingly high, according to the latest findings from the AXA Study of Mind Health and Wellbeing 2024 (“the Study”).

The annual survey, which assesses mind health[1] and wellbeing globally, paints a concerning picture of Hong Kong’s workforce grappling with high stress levels and mind health challenges. A staggering 77% of workers in the city have experienced at least one mind health issue stemming from their jobs. Alarmingly, 82% have contemplated disengaging from work in some capacity as a coping mechanism. These findings clearly demonstrate the prevalence of work-related stress and mind health conditions plaguing employees in Hong Kong, issues that demand urgent attention and action from employers.

Worsening Impact of Burnout and Depression

Almost half (49%) of Hong Kong’s workforce reported suffering from burnout, more than double from the previous year (2023: 22%). However, only 16% sought professional help. The study also reports that a significant portion of employees experienced excessive tiredness and energy loss (61%), uncontrollable stress and anxiety (52%), difficulties in concentrating or making decisions (51%), sleep disturbances (49%), and eating disorders (39%).

These mind health challenges have significantly impacted work performance, with nearly half (48%) taking sick leave due to mind health reasons, 41% planning to work from home to avoid engaging with colleagues, and 38% seeking job changes through internal transfers, while another 35% are already planning to leave their jobs.

Enhancing employee retention through mind health benefits and initiatives

The Study also revealed that 53% of the workforce expressed a desire for improved company response after reporting burnout. Additionally, nearly two-thirds (63%) believed that mind health benefits and initiatives are crucial in their decision to stay at their workplace, despite that mind health-related coverage remains limited. This indicates an opportunity for employers to enhance their mind health support and coverage, potentially leading to improved employee retention.

Emily Li, Chief Employee Benefits and Wellness Officer, AXA Hong Kong and Macau, said “It is concerning to observe that almost every person in the workforce experiences some degree of mental health issues. AXA has long advocated for mental health awareness, and now we are taking the next step – to provide solutions and treatments for individuals to take action. We are actively developing new mental health offerings and services to foster resilience among our customers and individuals in Hong Kong. We believe in the power of partnerships to address this ubiquitous issue, making it a key strategic direction for enhancing our mental health proposition for customers.”

Since 2021, when AXA pioneered the first “mind health network” in the Hong Kong market, our commitment to advocating mental health prevention, diagnosis, and treatment has led to the expansion of the mind health ecosystem. From daily online meditation voice-overs to virtual psychology counseling support, our aspiration to provide end-to-end mental health support continues.

 

About AXA Study of Mind Health and Wellbeing (AXA Mind Health Study)

AXA Mind Health Study is an annual study of mind health and wellbeing to assess the current state of mind health across the globe, and to provide individuals and businesses with the insights and advice needed to foster positive mind health.

AXA Mind Health Study 2024 was conducted in collaboration with IPSOS between 15 November and 11 December 2023 by means of online survey and online interviews among a total of 16,000 respondents aged between 18 to 75 years old across 16 European, American and Asian regions, namely France, the UK, Germany, Spain, Italy, Ireland, Belgium, Switzerland, Turkey, US, Mexico, mainland China and Hong Kong, Japan, Thailand and Philippines.

In Hong Kong, a total of 769 working individuals aged 18 and above were surveyed.

About AXA

AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 51 markets and serving 94 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

As one of the most diversified insurers in Hong Kong, we offer integrated solutions across Life, Health and General Insurance. We are the largest General Insurance provider and a major Health and Employee Benefits provider. Our aim is to not only be the insurer to provide comprehensive protection to our customers, but also a holistic partner to the individuals, businesses and community we serve. At the core of our service commitment is continuous product & service innovation and customer experience enrichment, which is achieved through actively listening to our customers’ needs and leveraging and investing in technology and digital transformation.

We embrace our responsibility to be a driving force against climate change and a force for good to create shared value for our community. We are proud to be the first to address the importance of mental health through different products and services and thought leading iconic research. Our overall Sustainability Strategy, with emphasis on climate strategy and biodiversity commitment, is developed based on TCFD recommendations. We are committed to integrating environmental, social and governance factors across our business and strive to contribute to a sustainable future through 3 distinct roles – as an investor, an insurer and an exemplary company.

This press release is uploaded on the AXA Hong Kong and Macau website: AXA.COM.HK

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SOURCE AXA Hong Kong and Macau