A recent survey has estimated the total cost of mental illness to Australia at $190 billion – or $190,000,000,000.00 – which would negate a full 12% of our GDP.
Dr Nicholas Gruen, author of The Herald-Lateral Economics Index of Australia’s Wellbeing, commented that “these big numbers put in perspective the real cost of mental illnesses to the community.”
The index goes beyond health care costs and absenteeism, and also tracks the negative impact of stress and poor mental health outcomes on workplace productivity and physical health.
This matches a 2010 review from the Federal Government’s Comcare unit, which looked at a range of Australian and international studies to determine that successful workplace wellness programs provide a positive return on investment.
One study concluded that “workplace health and wellbeing programs improve productivity, creativity and innovation; increase staff morale; improve the management of ageing workers; cut sick-leave rates by an average 25.3 per cent; and slash workers compensation costs by more than 40 per cent… employers save an average of $5.81 for every dollar invested in employee wellbeing.”
HSG can help you get started, by tailoring a wellness program to fit your specific objectives. We navigate you through every step, from staging events to opening feedback channels to analysis and review. Read more about our workplace health and wellbeing programs page for more information, or call us on 1300 889 073.