A recent report by PricewaterhouseCoopers measured the financial impact of ignoring mental health across Australian workplaces. The report found the costs to Australian businesses each year to be $10.9 billion each year.
This includes the impact on absenteeism, reduced productivity, staff turnover and compensation claims.
However, PwC also found when organisations take action to promote mental health the average return on investment (ROI) is 2.3. This means for every dollar spent improving mental health there is an average of $2.30 in benefits to the organisation.
For example, organisations can learn to…
• Detect the early warning signs of stress and burnout.
• Design work procedures to promote resilience and wellbeing.
• Support staff returning from extended leave.
• Build a positive workplace culture.
• Reduce stigma by better understanding common mental disorders, their causes and treatments.
• Develop a Mental health and wellbeing policy.
Every workplace is different. If there’s something your workplace could do better to support positive mental health talk to our team.
Read the full PwC report here.