Beyondblue has just released a report into the cost of mental health in the workplace prepared by PricewaterhouseCoopers (PwC) and called “Creating a mentally healthy workplace – Return on investment analysis“. The report is interesting but of limited use for those looking for ways to make their own workplaces safer and healthier with minimal cost. The Beyondblue media release claims
“… that Australian businesses will receive an average return of $2.30 for every $1 they invest in effective workplace mental health strategies.
The research, which looked at the impact of employees’ mental health conditions on productivity, participation and compensation claims, also found these conditions cost Australian employers at least $10.9 billion a year.”
The first claim looks attractive but achieving such a return is unlikely unless the company includes the following:
- “commitment from organisational leaders,
- employee participation,
- development and implementation of policies,
- provision of the necessary resources, and
- a sustainable approach.” (page iv)
The best chance for the return on investment (ROI) will likely occur in a company that has an enlightened management, “necessary resources” and a leadership that is already likely to have mental health and a safe organisational culture on its agenda. This is a rare combination which limits the application of the PwC report findings.