National Mental Health Commission reported in 2016 that the cost of mental ill-health in Australia equated to around $4,000 per person or $60 billion for the nation as a whole.
Analysis has also been done in relation to the cost of mental ill-health to employers. Mental Health Australia published a report finding mental ill-health in the workplace cost $12.8 billion in Australia in 2015-16. This equates to an average cost of $3,200 for each employee experiencing mental illness and up to $5,600 for those employees whose mental illness was considered severe.
Improved mental health and well-being can lead to better workplace outcomes; similarly, improved workplace outcomes can improve mental health and wellbeing.
“more than six million working days are lost per year as a result of one mental illness alone – depression – and each worker whose depression is untreated costs their employer $9,660”
“Presenteeism, where people are less productive in their role due to a mental health condition, is estimated to cost Australian business $6.1 billion a year.”
How do invest?