Psycho-Sociological Risk and Economic Viability of Workplace Mental Health Promotion
Employers’ costs related to worker mental health, in addition to the cost of presenteeism, absenteeism, and turnover, are significant. The article presents some key methodologies for calculating the cost of mental health. Literature review shows that the cost of presenteeism may be higher than the cost of absenteeism. The Cost Benefit Analysis, an economic viability method, is emphasised as it allows assignment of monetary values to both cost and benefits of workplace mental health measures. Consequently, classic tools and indicators of economic viability can be used in the promotion of workplace health and wellbeing. The literature review, which includes a number of meta-studies, suggests that workplace mental health promotion may be economically viable and profitable. However, in order to achieve maximal ROI, mental health programs must be well-planned, executed, and financed at an optimal level. The need for further research and the creation of company-friendly tools required for informed management decisions regarding workplace mental health promotion are emphasised.
The article on this topic, written by Dr. Klemen Podjed, appeared in Slovene magazine Delo in varnost.
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