ROI of more than $4 for every $1 invested in mental health
The following article is a news item provided for the benefit of the Workplace Health and Safety profession. Its content does not necessarily reflect the views of the Australian Institute of Health & Safety.
Date:
Thursday, 23 November, 2017 - 10:45
Category:
Industry news
Location:
National News
Half of businesses located in NSW have no measures in place that specifically address mental health in the workplace, according to research released by the NSW Government.
“That’s quite a staggering statistic when you consider that one third of our adult life is spent at work and that work can therefore have a significant impact on our mental health,” said NSW Minister for Better Regulation Matt Kean.
A return on investment (ROI) analysis of workplace mental health initiatives was also released today that found strong, positive outcomes for businesses.
This research, the most comprehensive research ever conducted about mental health in NSW workplaces, found that businesses which invest in workplace health promotions can get a return of more than $4 for every $1 invested from reduced absenteeism and better productivity,” he said.
“So there’s a real opportunity for businesses to introduce valuable mental health programs in their workplaces while having a considerable impact on their business’s bottom line,” said Minister Kean.
Minister for Mental Health Tanya Davies said mental illness does not discriminate, and that is why prevention and early intervention strategies are key to improving the mental health of workers right across NSW.
“The State government is absolutely committed to improving mental health in NSW and our Mentally Healthy Workplaces Strategy is a critical part of our comprehensive approach to this important issue,” Minister Davies said.
“Today’s findings show there is more work to be done to help businesses support staff with evidence-based mental health strategies in the workplace.”