It added that the average annual cost of poor mental health per employee in finance and insurance was £5,379, more than double that in any of the 14 other sectors covered.

The report adds to a growing volume of research on the impact of a global mental health crisis on companies and the workplace.

According to the World Health Organization and the International Labour Organization, about 12bn working days are lost every year to depression and anxiety, costing the global economy $1tn annually.