Business case 'impossible to ignore,’ says Deloitte CEO
Investing in workplace mental health programming is good for the bottom line, according to a Deloitte Canada report.
Companies with mental health programs in place for one year had a median annual return on investment (ROI) of $1.62 for every dollar invested, according to analysis included in “The ROI in workplace mental health programs: Good for people, good for business.”
For companies with programs in place for three or more years, the median annual ROI is more than double, says the report.
The report explores data from seven Canadian companies at various stages of rolling out mental health programs and supports — including Air Canada, ATB Financial, Bell, Canada Life, CIBC, Desjardins Group, Enbridge, Energir, Husky Energy and Morneau Shepell.
“There’s both an economic and moral imperative for Canadian employers to take action, recognizing that the cost to the Canadian economy of poor mental health in our workplaces is estimated to be $50 billion annually,” said Anthony Viel, CEO of Deloitte Canada.
“The findings from this report provide a business case that is impossible to ignore. Organizations committed to delivering and measuring impactful employee wellness programs are creating healthier workplaces and seeing investments in their people’s mental health pay off.”
Other key findings include: