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The ROI of investing in mental health
From Robin Williams to Olympic swimmer Ian Thorpe, depression and mental health issues have attracted increased public awareness and acceptance. With 1 in 5 employees likely to experience a mental health condition at any one time1, how can employers, insurers and super funds work together to improve the situation?
The good news for employers is that investing in better mental health can improve lives as well as helping businesses thrive. According to a recent PwC report, every $1 invested in effective workplace mental health strategies generates an average return of $2.302, through improved productivity, reduced absenteeism and fewer compensation claims.
Industries such as mining, public administration and safety and essential services attract an even higher ROI with a return of $5.703 for every $1 dollar invested into mental health.
The return is even higher when considering other intangible benefits, such as greater worker engagement, morale and staff retention.
Which workers are most at risk, and what strategies can be implemented to assist them?
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
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