17 June 2025
- UK companies have significantly improved their performance on mental health issues since CCLA launched its mental health benchmark in 2022, with 21 companies moving up at least one performance tier this year alone.
- Just under half of assessed firms (44/100 companies) appear in the benchmark’s bottom two tiers, with much work to do to effectively support their employees’ mental wellbeing.
- Almost all the 100 UK-listed companies in the benchmark recognise employee mental health as a significant business concern.
- But substantial gaps remain in companies’ governance of workplace mental health, with 60% failing to ensure operational management of mental health, and fewer than half of CEOs demonstrating leadership on the issue.
UK companies are increasingly taking action on workplace mental health, following pressure from investors managing $10.2 trillion (£7.7 trillion) in assets. But critical gaps remain, exposing companies to economic costs and reputational risks.
The fourth annual CCLA Corporate Mental Health Benchmark - UK 100 – a multiple award-winning initiative led by CCLA Investment Management – assesses how 100 of the largest UK-listed employers manage and report on workplace mental health. Poor mental health causes estimated annual economic losses of around £110 billion in England alone, making the issue of importance to investors.1
We have seen real improvement among the UK’s largest listed companies since we began benchmarking their performance on mental health in 2022. Twenty-one companies have moved up at least one tier this year, showing increasing recognition by employers of the importance of good workplace mental health to a thriving business. From our discussions with companies, many cite better productivity, lower staff absence, the ability to attract talent and better employee retention as the key drivers for managing workplace mental health.
“But there remains much more to be done. Many companies are still not dedicating sufficient time and resources to employee mental health, and a small number are failing to engage with us, as shareholders, on this important issue.
Amy Browne, Director of Stewardship, CCLA and co-author of the benchmark report
Globally, an estimated 12 billion working days are lost every year to depression and anxiety, according to the World Health Organization (WHO), at a cost of $1 trillion per year in lost productivity. Around 15% of working-age adults are estimated to suffer from a mental disorder.2 Three years after the peak of the Covid-19 pandemic, rates of self-reported work-related stress, depression or anxiety remain higher than pre-pandemic levels and, in 2023/24 alone, were the cause of over 16 million lost working days in Great Britain.3
Addressing mental health pays dividends to employers, with every pound spent supporting the mental health and wellbeing of employees generating £4.70 in increased productivity.4 In competitive sectors, attention to employee mental health can also support recruitment and improve staff retention.
Top improvers and decliners
This year, the average company score in the benchmark rose to 46%, up from 41% last year, and just 35% in 2022. Fifty-three companies increased their score since 2024, against 36 whose score fell. Twenty-one companies moved up at least one performance tier, while six fell into a lower tier.
Some companies have dramatically improved their performance over the last year. Financial services firm Aviva showed the most improvement and climbed two tiers this year. International Distribution Services, Intertek Group, Mobico Group and Ocado Group all increased their scores by more than 25 percentage points.
Of the 85 companies that have been consistently evaluated in the benchmark since 2022, 43 have improved their ranking by one or more performance tier, compared with eight that have moved down. Weir Group is the most improved in terms of overall score, followed by Aviva, Experian and Hays. Of the companies that have fallen behind , the company that has deteriorated the most is data provider RELX, which has slipped more than 25 percentage points since 2022.
High engagement – but gaps remain
The index is used as a tool to engage with companies. A coalition of 56 investors with $10.2trn in assets under management wrote to the CEOs of all the companies in the benchmark last year to encourage them to eliminate the avoidable costs associated with mental ill-health. Many of these investors have engaged directly with companies on the issue, either in collaboration with or independently of CCLA. The percentage of companies engaging with the benchmarking process, or directly with coalition members, has risen to 76%, up from 69% last year. However, 24% did not engage with investors during the past year.
It is disappointing to see some companies failing to recognise the importance of the issue and choosing not to engage with CCLA and other major shareholders to discuss why we consider employee mental health so important, and the measures they could take to improve their performance.
Amy Browne, Director of Stewardship, CCLA
CCLA, with support from an expert advisory panel and consultancy Chronos Sustainability, developed the CCLA Corporate Mental Health Benchmark to evaluate the performance of large UK and global companies on employee mental health. It is constructed using publicly available information to evaluate companies against 27 criteria that cover: management commitment and policy; governance and management; leadership and innovation; and performance reporting and impact. It gives each company a percentage score and places them in five tiers.
At MIND, we know how important workplace mental health is for employees and businesses alike: 14% of employees have told us they’ve resigned because of workplace stress, and 30% said they don’t feel able to talk openly with their line manager if they’re feeling stressed.
“Having investors like CCLA raise this issue with the businesses they invest in helps reinforce the message that employee mental health should be high on the agenda for responsible employers, and that there’s a clear business case for investing in good employee mental health.
Sarah Hughes, Chief Executive Officer at Mind and member of the expert advisory panel for the CCLA Corporate Mental Health Benchmark - UK100
Employee mental health can be a material issue impacting employee retention and productivity, particularly for large employers and those in sectors where there is intense competition for talent.
The CCLA Mental Health Benchmark supports investors in understanding how listed companies are performing on mental health, helping them effectively manage this risk in their portfolios.
Ben Allen, Director of Sustainability Issues & Analysis, the Principles for Responsible Investment (PRI)
Poor employee mental health is costing UK-listed companies tens of billions of pounds each year and is contributing to the UK’s poor productivity.5 The investors backing the CCLA Mental Health Benchmark want to understand which companies are underperforming on this crucial issue – and expect them to up their game.
“While performance overall on mental health is improving, there is more that every company can do to provide environments for employees to thrive and reap the benefits of increased productivity and improved staff recruitment and retention.
Peter Hugh Smith, CCLA’s Chief Executive
An analysis of the 2025 benchmark shows encouraging progress – and areas for urgent improvement (see full company list and tier ranking below):
Positive findings
- A near universal recognition of the importance of mental health: 99% of the companies in the benchmark acknowledge mental health as a significant business concern. Nearly four-fifths (79%) have a formal mental health policy (or equivalent).
- Growing number of leaders: 26 UK companies are now ranked in the top two performance tiers, up from 20 last year and just 10 companies in 2022. Ten companies are in the top tier, up from six in 2024.
- Overall progress: 21 companies improved their performance on mental health this year sufficiently to move into a higher tier.
- Greater engagement: 76% of companies engaged with the benchmarking process, up from 69% last year.
- Board-level responsibility: Almost two-thirds (65%) of companies assign board-level or senior management responsibility for mental health, up from 52% last year.
Areas of attention
- Worst performers: 13 companies remain in the bottom tier of the ranking. These score 20% or less and are at high risk of economic and/or reputational impacts from their poor management of employee mental health.
- Under-equipped line managers, limited operational responsibility: 49% of the companies assessed do not appear to offer mental health training to line managers, who play a crucial frontline role. Only 40% assign day-to-day operational responsibility for mental health to identified individuals.
- Limited effectiveness monitoring: Many companies are failing to effectively monitor and report on the effectiveness of the mental health initiatives they are undertaking. For example, while 92% of companies run awareness-raising initiatives, only 40% report on employee uptake, and just 21% publish KPIs aimed at measuring impact on mental health. This lack of measurement limits companies’ ability to understand what’s working.
- Too many CEOs are still silent: While almost half (45%) of CEOs have made a personal commitment to employee mental well-being, the majority have not. Such commitments can set the tone throughout the organisation and underpin employee mental health initiatives.
The sister benchmark to the UK 100, the Global 100+, will be released on 10 October 2025.