Study quantifies return on mental health investment
Wednesday, 21 May 2014 3:56pm
Employers that introduce workplace mental health initiatives will receive an average return of $2.30 for every dollar they invest, according to a new report.
The PricewaterhouseCoopers (PwC) report found employers that introduce mental health strategies see benefits that "typically take the form of improved productivity, via reduced absenteeism and presenteeism (reduced productivity at work), and lower numbers of compensation claims".
Beyondblue and the Mentally Healthy Workplace Alliance commissioned PwC to determine the economic value of mentally healthy workplaces, and yesterday launched a national campaign - Heads Up - to encourage employers to invest money in employees' psychological health.
PwC partner Jeremy Thorpe says the report shows how investing in mental health can benefit all employers, "with small business often benefitting the most".
"For example, small mining businesses that invest in effective mental health programs receive an average return on investment (ROI) of 15, meaning they get $15 [benefit] out of every $1 they spend," he says.
Initiatives are "best implemented" on a team or group basis in larger organisations, the report says.
Employers can implement one or more of seven specific "targeted actions" to improve workplace mental health and increase ROI, it recommends. These comprise:
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Worksite physical activity programs - Based on the relationship between physical health and mental health, this action engages workers in a physical exercise program once or twice a week, and has been shown to reduce the risk of absenteeism and depression;
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Coaching and mentoring programs - These are designed to empower workers and reduce depression levels. They provide coaches with behaviour tools and techniques, and involve regular meetings and goal setting to improve worker wellbeing;
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Mental health first aid and education - This 12-hour course is designed to teach workers how to provide support to people developing a mental condition or experiencing a mental health crisis. It provides workers with greater confidence, an increased likelihood of advising people to seek professional help, and improved coordination with mental health professionals;
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Resilience training - This requires "significant investment of time and emotion", with five half-day sessions being run by an occupational physician to train small groups in a number of stress management skills;
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Cognitive behaviour therapy-based RTW programs - These sessions help workers understand the causes of workplace stress and develop practical strategies to manage it;
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Wellbeing checks or health screening - Employers can use these to address attitudes that might lead to mental health problems by providing 10 hours of supervisory training, a three-day workshop to clarify issues and guidelines, and a peer-to-peer program to "embed" lessons; and
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Encouraging employee involvement - This involves providing a survey to workers to address measures such as job control, health, absence and acceptance. The results can be used to target specific issues impacting workplace mental health and identify other actions the employer could take.
Employers can sign up to the Heads Up campaign now and, as of mid-June, will be able to create tailor-made mental health plans for their workplaces.
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