City workers advised to talk through the credit crunch

 

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As the credit crunch hits home, a September Daily Mirror survey exposed the true debt the UK is paying.

It indicated that half of the population is anxious about debt, over 20 per cent are concerned about job loss and about two in five worry about the repossession of their homes.

But perhaps even more tellingly, a poll earlier this month from Bupa Health Insurance has found that of those in the UK's biggest cities that are concerned about job security, two in five say their levels of stress have increased since the financial crisis began.

And in the City, as firms such as the Lehman Brothers fall victim to the economic crisis, statistics indicate that businessmen and women are feeling the full force of the financial situation.

 

Has there been a rise in depression since the economic downturn?

Capio Nightingale, an independent mental health hospital based in central London, has this month reported a 33 per cent surge in the number of people seeking advice for mental health disorders including anxiety, depression and stress in the last three months alone.

There has also been a marked increase in the number of drug and alcohol addicts, as well as eating disorder sufferers, who are stepping through its doors during the same period.

All of these rises have been attributed to the increasing pressure felt by city workers as a result of the economic situation and have been coined as a symptom of "square mile syndrome" by the hospital.

 

What about those who don't seek help?

But although treatment is available, there is rising concern about the potential number of bankers and traders who have failed to seek help.

The apparent suicide of millionaire financier Kirk Stephenson last month due to fears about what his future may hold due to the downturn led to concerns that he might not be the last victim of the economic crisis.

His company was not in jeopardy and his friends and family were completely unaware that he was so adversely affected by the pressures of the country's financial problems.

Dr Richard Bowskill from The Priory Group cautioned: "Some bankers could be prone to take their own lives, as their self-worth is so inextricably linked with the success and the financial rewards the profession so often brings."

Depression can affect anyone and as a result it is all the more important that City workers are aware of the signs.

Former HBOS head Lord Stevenson spoke at a conference a year ago about his personal experience with the condition.

"About 12 years ago everything in my life was perfect," he said. "But why in the world was I suddenly in a black hole? There was absolutely no causal effect of any kind."

At the time, he called for the stigma of the illness to be lifted, with companies creating a supportive network to deal with issues of mental health.

But despite the rising toll that financial turmoil is taking on those working in the City, evidence suggests that mental health issues remain a taboo subject for many.

This makes it all the more vital that both employers and employees are aware of the signs.

 

How can symptoms be recognised and overcome?

Steve Tollerton, WorkLife trainer at the Samaritans, notes that the most significant of these to look for is a change in behaviour. Nevertheless, other signs to be aware of in others include irritability and nervousness, a change in routine, becoming withdrawn and losing interest in their appearance.

He said that employers should be aware that feelings of anxiety can be "significantly reduced" by being listened to and feeling understood.

"Raising awareness in the workplace and equipping managers and staff with the skills and confidence to be able to offer support by acknowledging the difficulties a colleague or employee may be experiencing, can be incredibly helpful in minimising the impact of mental health issues," added Mr Tollerton.

Taking regular breaks, ensuring time owing is taken off work and engaging in activities that help them relax are other suggestions for those who feel like the effects of the economic crisis are getting on top of them.

Meanwhile, confidential helplines are always available for those who want to discuss their feelings anonymously.  This can offer a huge "emotional release," noted Mr Tollerton.

But if problems become more serious, seeking medical help should be the next step, he said.

Those experiencing feelings of distress or despair, including those which could lead to suicide, can access confidential and non-judgemental emotional support 24 hours a day by calling the Samaritans on 08457 90 90 90, or 1850 60 90 90 in the Republic of Ireland, for the cost of a local call.

Outreach and communications co-ordinator at the Samaritans' central London branch Shaun Kelly stated: "It is really important for people to talk to somebody about how they are feeling rather than keeping worries to themselves, in order to find a positive way forward."

With little sign of a let-up of the economic downturn, ensuring that a supportive network is available in the office, making the most of time off to relax, keeping track of feelings and speaking to someone when times appear to be getting tough are all important for the emotional security of City workers.

 

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