It Pays to Invest in Mental Health
We’ve previously examined the hidden nature of mental health issues, and looked at how to bring them out of the shadows.
It’s not simply a problem that applies to some people. Just like physical health, you could see it as a continuum which includes everyone, and where everybody can show improvement if given the right skills, training and environment. Being in a good mood encourages healthy lifestyle choices, just as adding more exercise into your week will improve your mood.
All aspects of health are linked, and when indirect benefits are measured, every dollar you spend on a successful wellbeing program results in a positive return-on-investment. That’s the finding of CBI, a business association in the UK encompassing everything from leading FTSE-listed companies to family-owned enterprises.
They measured costs due to physical illness, mental illness, and absenteeism, finding that “an investment in health and wellbeing can deliver real, tangible savings for a business.” The conclusion is that the monetary benefits to companies of all sizes outweigh the costs of investing in employee health and wellbeing.
No matter if you’re in Sydney, Melbourne, Brisbane, Canberra, Adelaide, Perth or anywhere in between, this applies to Aussie companies as well. Just as poor physical health outcomes are associated with health costs at the macro level, the failure of an organisation to address the mental health of employees will perpetually cost that organisation money.
A new study by Price Waterhouse Coopers in partnership with mental health organisation BeyondBlue has shown that “Australian businesses will receive an average return of $2.30 for every $1 they invest in effective workplace mental health strategies.”
Other studies have shown different returns on investment, up to $5 for every dollar invested, but the exact number is not the point – this is an investment in your people that really does pay off in monetary terms in a variety of direct and indirect ways.
This has led to a campaign across Australia to encourage more investment into health and wellbeing, with the slogan “if you’re not investing in mental health you’re losing money”.
But how can you ensure your programs are “effective” in achieving these kinds of results?
By partnering with us. At HSG we specialise in making your annual wellness program a success, and we can navigate you through the entire process.
Contact us today to see how we can get you started – no matter what phase of the project you’re up to. If you’re just getting started, we recommend surveying your staff. We offer a fully customisable survey, using expert-approved questions, and you’ll receive a summary report with recommendations for your annual program.
