Welcome to Heads Up. Mental health in the workplace is one of the important issues businesses face today. A recent PricewaterhouseCoopers report identified that ignoring it costs Australian businesses
around $10.9 billion a year in lost productivity. And with poor mental health likely to affect one in five employees, by taking action the benefits can be profound.
PwC discovered that on average, across all businesses, for every one dollar invested in mental health initiatives, there's a return of $2.30 and reports showed that in many industries the returns were even greater. For example, for every one dollar invested in public administration and the safety industry, there's a return of $3.60 and for every dollar invested in the electricity, gas, water and waste services industries, there's a return of $6.70, and there's even slightly more within mining. And the numbers are compelling within other sectors, such as information media and telecommunications, health care and social assistance, manufacturing and financial and insurance services.
The benefits are clear. Business leaders need to make a long-term commitment to a mentally healthy workplace. This will help create happier employees and attract and retain top talent. To register with Heads Up and learn more, go to headsup.org.au, where you can also download the PricewaterhouseCoopers report. By taking the initiative, you'll not only make your company a better place to work, you can help make it more productive. And that's just good business.