Mental health issues are costing 18. 5 million work days every year
Mental health issues linked to life events cost the Australian economy an estimated $10. 7 billion and 18. 5 million working days each year, according to analysis by Bupa and the Centre for Economics and. . .
Mental health issues linked to life events cost the Australian economy an estimated $10. 7 billion and 18. 5 million working days each year, according to analysis by Bupa and the Centre for Economics and Business Research (CEBR). The research examined the impact of life events including returning to work after becoming a parent, bereavement, caring for a family member, divorce and marriage on mental health, absenteeism and workplace productivity. The research found that earlier mental health support could save the Australian economy an estimated $219 million and recover 403,000 working days each year. Australians who took proactive steps to manage their mental health, including talking to family and friends, seeking professional support or speaking to a healthcare provider, took an average of two fewer days off work each year. Around 70 per cent of Australian respondents said they wished they had sought support before or during a life event. Globally, the research estimated that life events result in the loss of 1. 7 billion working days and $636 billion in productivity each year. Among respondents who had experienced one or more life events, 69 per cent reported emotional overwhelm, 53 per cent reported reduced concentration at work and difficulty focusing, and 52 per cent said they experienced lower confidence. The research said these outcomes are indicators of presenteeism that contribute to lower productivity. Bupa Healthcare Services MD Guneet Sawhney said people often prepare for the financial and practical aspects of major life events but give less attention to mental health. “What stands out in this research is how many people wish they had sought support earlier. Whether becoming a parent, caring for a loved one, or coping with loss, our mental wellbeing shapes how we experience those moments,” he said. CEBR senior economist Liam Daly said the research drew on survey data from multiple countries to measure how major life events affect working life. “Life’s biggest moments, the joyful ones and the difficult ones alike, rarely stay confined to our personal lives. They follow us into work too, often in ways that are easy to underestimate. ”Daly added that people who take proactive steps to support their mental and physical health around these events tend to experience a smaller decline in productivity than those who do not. Further reading:Mental health program for small-business owners gets a one-year extension.