Attention as to how best to manage the risks within your organisation repeatedly comes back to the emerging tsunami of mental health and associated issues.  

Safe Work Australia’s latest information identifies trends in psychological health in workplaces.  

The Psychological health and safety in the workplace report highlights the changing impact of work-related psychological injuries in Australia.  

• Mental health conditions accounted for 12% of all serious workers’ compensation claims, a 161% increase over the last 10 year. 
• The median time lost was more than four (4) times greater than that of all physical injuries and illnesses (2020-21). It is reported at 35.7 weeks. 
• The median compensation paid for mental health conditions was more than three (3) times greater than that of all physical injuries and illnesses. It is reported at $67,400. 
• Workers with claims for mental health conditions experienced poorer return to work outcomes and were more likely to experience stigma from colleagues and their employers.

In addition to the mental health snapshot – key findings from Safer, healthier, wealthier report: are remarkable. The economic value of reducing work-related injuries and illnesses show that in the absence of work-related injuries and illnesses, on average each year: 

• Australia’s economy would be $28.6 billion larger  
• 185,500 additional full-time equivalent jobs would be created, and 
• workers across all occupations and skill levels would benefit from an average wage rise of 1.3%. 

Cleary, there is work to do to mitigate all aspects of risk within the workforce. The reported numbers and the trends in the data indicate we have created a system that remains unsustainable.  

Spending on prevention must be the answer. However, the spend on any preventative risk mitigation measure constitutes a small percentage of any health-related budget. 

At a commonwealth level the Federal Government spends less than two (2) percent of its health budget on prevention. 

If you wish to review how mental health issues and other risk factors are impacting your costs, then contact us. We can help.