In a 2015 report commissioned by Price Waterhouse Cooper [PwC], the significant costs of not managing mental health in the workplace were highlighted.
The study revealed that the inability to manage mental health in the workplace cost businesses;
- More than 10.9 billion dollars annually
- Resulted in 4.7 billion dollars, or the equivalent of 1.1 million sick days
- 6.1 billion dollars was incurred due to presenteeism, where people are present in the workplace, but are less productive in their role due to mental health, and
- 146 million dollars was incurred from the lodgement of compensation or insurer claims due to the result of mental health conditions.
Can your business afford to NOT invest in a mental health program?