Is employee mental health really an issue businesses have to think about?
There are three key reasons:
1. The legal case
Legislation now clearly states that employers have a responsibility for the physical and psychological safety of their employees.
2. The business/financial case
Studies have conclusively shown the actual costs of ignoring mental health in the workplace. Across Australia, this is estimated to being $10.9 billion per year.
Moreover, studies have also shown that, on average, businesses will reap an ROI of $2.30 for every $1 invested in mental health and wellbeing initiatives.
3. The human case
One in six Australians is currently experiencing depression or anxiety or both.
One in five Australians have taken time off work in the past 12 months because they felt stressed, anxious, depressed or mentally unhealthy.
About one in 10 Australian workers has been bullied in the last six months.
More than eight people die each day in Australia by suicide.
In 2018, suicide was the leading cause of death among people aged between 15 - 44 years, and the second leading cause of death among those 45 - 54 years of age. More than half of all suicide deaths in 2018 occurred between the ages 30 and 59.
We're talking about real people here.
And with the majority of people represented in these statistics being of working age, businesses have a vital role in supporting these people.