This research from PricewaterhouseCoopers (PWC) found that when organisations successfully introduce an effective action to create a mentally healthy workplace, they can expect a positive return on investment (ROI) of at least 2.3. In other words, for every one dollar spent there is a $2.30 gain.
The report also found that mental health conditions cost Australian workplaces more than $10.9 billion annually.
PWC used seven initiatives to make the ROI calculation, based on their effectiveness across the “intervention continuum” (i.e. prevention, early intervention and rehabilitation/return to work). They were:
Worksite physical activity program
Coaching and mentoring, e.g. cognitive behavioural-based leadership coaching
Mental health first aid and education
CBT based return-to-work programs
Wellbeing checks or health screening
Encouraging employee involvement.
PWC were able to show that effective implementation of these actions result in reduced absenteeism, gains in productivity and a reduction in compensation claims. Other benefits included a reduction in turnover, lower management costs, reduced incident costs and lower income insurance costs for the organisation.