The stigma around mental illness needs to be removed, and managers need training on how to manage people with mental illnesses and create safe spaces. "We also need commitments from senior leadership, setting out their strategy."
Browne says: "We want to see a mental health policy in place, which clearly shows the company making a link between good workplaces and good health; understanding the link between fair pay and financial wellbeing.
"We want to see a formal position on anti-bullying, flexible working, with full information and consultation between boardrooms and employees.
"No amount of initiatives will make sup for a company that does not have policies formalised on these areas."
Rewards
What does CCLA and investors get out of this?
"Clearly, improving the bottom line is one part of the jigsaw, definitely. Having that financial case for action is always a useful starting point", says Browne.
The scale of the review, too, makes a difference. She explains that the original 42 "improver" companies in the 2022-2023 cohort employ 7mn people around the world. Positive action on mental health makes a real difference to millions.
CCLA only owns 14 of these companies across its portfolios. "A rising tide lifts all boats", Browne says. "So the quickest way of improving your own boats' performance is to raise the overall standard.
"We aim to change the accepted way in which business is done - to change the system. This is what we are trying to do. And even if we do not take the time to engage with the companies in our wellbeing indices, I doubt many would have improved on their own."
She demonstrates that in the first year of the global index, 30 companies were in the 'no change' tier - the lowest rung. Now, there are only 20.
"And we have had calls from companies after the indices were published, asking us why they were not as high as their sector peers and what they could do to improve."
Ultimately, according to Browne, the criteria have "not been plucked out of thin air. They are all based on science.
"And the financial case for action suggests this is undoubtedly in a company's best interest to get right - there's not only a moral case to do right by staff, but also a financial imperative."
simoney.kyriakou@ft.com
