HSBC retain top spot in CCLA’s Corporate Mental Health Benchmark Global 100+ report

Business people working in conference room

The CCLA Corporate Mental Health Benchmark Global 100+ reveals that most leading global companies are still neglecting workplace mental health, with HSBC standing out as the only company to retain its top spot for the third consecutive year. While HSBC continues to demonstrate a comprehensive and strategic approach to employee mental health, 35% of the 119 companies assessed are performing poorly, with minimal progress in addressing this issue.

Despite some improvements, the majority of companies remain static, with just 12 businesses moving up a tier in the benchmark compared to last year.

Andrew Gibbons, HSBC’s Group Head of Wellbeing and Recognition, emphasised the bank’s commitment: “We are proud to achieve tier 1 status again, underlining our dedication to a great colleague experience. However, we know there is still work to do.”

You can hear more about the story of HSBC’s journey to supporting its people at the Leaders’ Summit at MAD World, taking place in Central London on 17th October. You can view the full agenda here.

Tech giants fall short

The report reveals that six of the world’s largest tech giants—Alphabet, Apple, Meta, Microsoft, Nvidia, and Tesla—are at the bottom of the rankings. These companies, part of the so-called “Magnificent 7,” scored between 0 and 20%, placing them in the lowest tier despite their substantial resources and influence. Amazon performed slightly better, landing in tier 4, but the tech sector’s overall neglect of mental health remains a concern.

The report highlights a failure of industry leaders to take mental health seriously. Given the growing global focus on employee well-being, especially in the tech industry, these companies are not just lacking in mental health support for employees, but also missing out on the 370% return on investment that Deloitte reports businesses can achieve by implementing mental health interventions.

Broader corporate stagnation

Although some companies are making strides, progress across the board remains limited. Only 12 companies, representing over 1.5 million workers, moved up a tier, including Roche Holding, Shell, TotalEnergies, Toronto-Dominion Bank, and Alibaba Group Holding. However, 87 companies have shown no improvement, and the overall average score for all 119 companies assessed stands at just 28%, indicating significant room for improvement.

Amy Browne, Director of Stewardship at CCLA, expressed disappointment at the slow pace of change: “Too many employers are ignoring a critical issue for their workforce, which affects both people’s wellbeing and the company’s bottom line.”

Economic and human costs of inaction

The benchmark underscores the business case for mental health investment. Globally, 15% of working-age adults live with a mental disorder, according to the World Health Organization (WHO), costing the global economy $1 trillion annually due to lost productivity. Yet despite these figures, fewer than 24% of companies provide mental health training to line managers, a vital intervention recommended by WHO.

Also concerning is the fact that only 13% of CEOs make public statements about workplace mental health, showing a clear lack of leadership in addressing this issue. For example, while almost all companies in the benchmark offer some degree of mental health support, such as counselling or mental health apps, the commitment from top executives remains weak.

Progress and areas of improvement

Despite the overall stagnation, 98% of the companies provide some mental health services to their employees, including clinical counseling and access to digital mental health tools. Additionally, 78% of businesses have rolled out awareness-raising initiatives, such as internal campaigns and training programs.

Companies like TotalEnergies, Roche Holding, and Toronto-Dominion Bank have made notable gains, improving their scores by over 40 percentage points since the benchmark’s launch in 2022. In the healthcare sector, which scored highest with an average of 33%, companies have shown stronger commitment to mental health, contrasting sharply with the underperformance of the industrials sector, which scored just 21%.

Regional disparities and missed opportunities

The benchmark also reveals significant regional differences. Companies based in Europe, the Middle East, and Africa (EMEA) performed the best, averaging 42%, while North American companies trailed with 25%, and Asia-Pacificcompanies performed the worst with an average of just 23%.

Join our growing network of employers
Receive Make A Difference News straight to your inbox

Moreover, key interventions like mental health training for line managers remain underutilised. This year, only 24% of companies provided such training—only a marginal increase from 22% last year. This shortfall is worrying, as managers play an important role in preventing long-term sickness by identifying and addressing mental health issues early on.

Looking forward

The report can be seen as both a wake-up call and a guide for companies. Shekhar Saxena, a professor at Harvard’s School of Public Health, stated: “Are large global corporations doing enough for the mental health of their staff? The clear answer is no.” While the benchmark highlights best practices from companies like HSBC, it also illustrates the widespread failure of others to take meaningful action.

Investors are increasingly recognizing the importance of mental health, with 55 investors managing $9.8 trillion in assets backing the benchmark. As workplace mental health becomes a material concern, pressure is mounting on businesses to improve. Yet as Remi Fernandez, Head of Human Rights at Principles for Responsible Investment, notes, “There is still more work needed on implementation.”

For companies like HSBC, the path forward involves not just maintaining leadership but continuing to innovate. As Gibbons from HSBC said, “We will use the CCLA recommendations to develop our approach further. Supporting employee mental health is not only the right thing to do, but it also pays dividends for our business and the communities we serve.”

For others, the message is clear: without greater commitment to mental health, companies risk losing out—not just on employee well-being, but on substantial business returns as well.

You can download the full CCLA Corporate Mental Health Benchmark Global 100+ here

You may also like:

LATEST Poll

FEATURED
Logo

Sign up to receive Make A Difference's fortnightly round up of features, news, reports, case studies, practical tools and more for employers who want to make a difference to work culture, mental health and wellbeing.