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When employees receive effective treatment for mental distress, organizations realize reduced total medical costs, increased productivity, lower absenteeism and decreased disability costs, researchers found. Their analysis also revealed organizations spend an average of $15,000 annually on each employee experiencing mental health issues. The findings are based on pre-COVID-19 costs and likely under-represent current related costs.
In a survey, 85 percent of respondents said their workplace affects their mental health and well-being. Chronic exposure to stressful conditions at work and in one’s personal life is associated with depression, anxiety, poor concentration and emotional exhaustion.
NSC and NORC at the University of Chicago have created the Mental Health Cost Calculator, funded by Nationwide, to provide business leaders with data-driven insights about the costs of employee mental distress. Metrics include lost work days, staff turnover and replacement costs, and health care expenditures by employees and their family members. The calculator also offers research-proven steps employers can take to help employees and their family members recover, while increasing the safety, health and productivity of their workplaces.
Other findings from the analysis include:
The cost calculator combines results from the 2015 to 2018 National Surveys on Drug Use and Health with the latest research on the costs of mental health problems for employers.
Click here to listen to WorkCare’s webinar on Nurturing Mental Fitness and Neuro-wellness in the Workplace.
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