The Mentally Healthy Workplace Alliance and Beyond Blue have launched a Return on Investment tool as part the Heads up: Creating mentally healthy workplaces program.
The Heads Up ROI tool helps businesses calculate the potential cost savings of taking action to create a mentally healthy workplace, based on business size and industry. It draws on analysis by PwC, which averages out the impact of seven common workplace mental health initiatives.
By tailoring actions to your business’ specific needs and objectives, you can expect to achieve an even larger ROI. Because PwC’s analysis doesn’t include the costs associated with employee turnover, figures are likely to be conservative – the real savings to businesses could be significantly higher.
The tool allows companies to add in the intangible benefits, such as becoming an employer of choice and improving team morale, and the case for mentally healthy workplaces is clear.
To use the tool, select industry and organisation size, check out the ‘Did you know’ statistics for your business type, and click the ‘Show detailed breakdown’ tab to see how your investment is likely to improve productivity and reduce absenteeism and compensation claims.
The tool can be found at https://www.headsup.org.au/creating-a-mentally-healthy-workplace/the-business-case/roi.