Investing in mental health yields significant returns
Organizations that are committed to delivering and measuring employee wellness programs are seeing their investment pay off in a substantial way, says new research from Deloitte & Touche Canada.
The company’s analysis of data from seven large Canadian companies found that those with mental health programs in place for one year had a median annual return on investment (ROI) of $1.62 for every dollar invested. For those with programs in place for three or more years, the median annual ROI more than doubles to $2.18 for every dollar spent.
An economic and a moral imperative
“The cost to the Canadian economy of poor mental health in our workplaces is estimated to be $50-billion annually. There’s both an economic and a moral imperative for Canadian employers to take action,” says Deloitte Canada’s CEO, Anthony Viel. “The findings from this report provide a business case that is impossible to ignore.”
The report, entitled ROI in workplace mental health programs: Good for people, good for business, suggests that wellness programs are more likely to achieve positive ROI when they support all employees, from the promotion of well-being to intervention and care. They say employers can also achieve greater program ROI by prioritizing their investment in higher-impact areas such as leadership training, family assistance and return-to-work programs.
The report also contains a blueprint for program implementation and ways to measure the outcome of an employer’s workplace mental health program.
To learn more, consult the full report here.