{"id":497,"date":"2014-12-07T14:00:00","date_gmt":"2014-12-07T13:00:00","guid":{"rendered":"https:\/\/hub.findingsimple.com\/au\/boosting-mental-health-bottom-line\/"},"modified":"2022-08-03T16:04:38","modified_gmt":"2022-08-03T05:04:38","slug":"boosting-mental-health-bottom-line","status":"publish","type":"post","link":"https:\/\/insight.thomsonreuters.com.au\/legal\/posts\/boosting-mental-health-bottom-line","title":{"rendered":"Implement a Workplace Mental Health Strategy and Boost Your Bottom Line"},"content":{"rendered":"<p class=\"intro-paragraph\">Addressing and improving workplace mental health can have significant benefits for not only your law firm\u2019s staff and their productivity, but your bottom line as well.<\/p>\n<p>It is now widely recognised that mental health conditions can substantially influence an organisation\u2019s productivity. A <a title=\"PwC Study\" href=\"http:\/\/www.headsup.org.au:8080\/docs\/default-source\/resources\/beyondblue_workplaceroi_finalreport_may-2014.pdf?sfvrsn=2\" target=\"_blank\" rel=\"noopener noreferrer\">study released by PwC<\/a> earlier this year, in conjunction with <a title=\"Boosting your mental health and bottom line\" href=\"http:\/\/www.beyondblue.org.au\/\" target=\"_blank\" rel=\"noopener noreferrer\">beyondblue<\/a> and the <a title=\"Boosting your mental health and bottom line\" href=\"http:\/\/www.mentalhealthcommission.gov.au\/\" target=\"_blank\" rel=\"noopener noreferrer\">National Mental Health Commission<\/a>, revealed businesses can achieve real, targeted productivity benefits following the implementation of effective mental health strategies.<\/p>\n<p>The benefits of positive mental health in the workplace result in improved productivity, reduced absenteeism and fewer compensation claims. Significantly, the study states that Australian businesses will receive an average return of $2.30 for every $1 they invest in effective workplace mental health strategies.<\/p>\n<p><strong><span style=\"color: #ff9900\">Industries at risk<\/span><\/strong><\/p>\n<p>Currently, one in five Australian workers are experiencing mental health conditions, such as depression and anxiety. At the same time, not enough workplaces recognise the importance of their employees\u2019 mental health.<\/p>\n<p>The PwC report reveals that mental health conditions are seen across all industries in Australia, but prevalence rates vary. The financial and insurance sectors are most at risk, with a third of people experiencing a mental health condition.<\/p>\n<p>Recent <a title=\"Boosting your mental health and bottom line\" href=\"http:\/\/www.roymorgan.com\/findings\/5852-australias-most-stressed-professions-201410072147\" target=\"_blank\" rel=\"noopener noreferrer\">Roy Morgan data<\/a> reveals that 35 per cent of professionals in the legal sector report above-average levels of stress. As the most common mental health issue in Australia, stress can dramatically impact your firm\u2019s workplace mental health and productivity.<\/p>\n<p><strong><span style=\"color: #ff9900\">Implementing targeted action plans<\/span><\/strong><\/p>\n<p>With global competition at its fiercest, business leaders who want to effectively manage productivity need to drive and maintain actions that will create a mentally healthy workplace, and consider the critical success factors for organisational change.<\/p>\n<p>Currently, many workplace-specific actions designed to promote mental health have been developed nationally and internationally via organisations such as beyondblue and the National Mental Health Commission.<\/p>\n<p>These include worksite physical-activity programs, coaching and mentoring programs, mental health first aid and education, resilience training and CBT-based return-to-work programs. Wellbeing checks and inspiring employee involvement are also encouraged.<\/p>\n<p><strong><span style=\"color: #ff9900\">Support is critical<\/span><\/strong><\/p>\n<p>Employers have a fundamental responsibility to their workers \u2013 and also to their firm\u2019s profitability \u2013 to tackle mental health conditions at work. A critical component of implementing effective mental health strategies is having leadership and management support for improving the overall culture and mental health of the workplace.<\/p>\n<p>It is easier for smaller organisations to see results more quickly, as the single most critical success factor is employee participation. For larger organisations that want to see positive improvements, actions are best implemented on a team or group basis.<\/p>\n<p>Ultimately, the onus is on organisations to understand the importance of mental health conditions, and to create a tailored action plan that meets the specific needs of their workplace.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Addressing and improving workplace mental health can have significant benefits for not only your law firm\u2019s staff and their productivity, but your bottom line as well. It is now widely&hellip;<\/p>\n","protected":false},"author":29,"featured_media":498,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[576,588,629],"tags":[239,440,566],"insight_job_role":[597,614,627],"insight_practice_area":[],"class_list":["entry","author-azadehwilliams","post-497","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business-management","category-efficiency-and-time-management","category-strategy-and-business-development","tag-firm-culture","tag-profitability","tag-workplace-mental-health","insight_job_role-hr-ir-professional","insight_job_role-partner","insight_job_role-senior-executive","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Implementing a Firm-Wide Workplace Mental Health Strategy<\/title>\n<meta name=\"description\" content=\"Addressing and improving workplace mental health can have significant benefits for not only your law firm\u2019s staff and their productivity, but your bottom line as well.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insight.thomsonreuters.com.au\/legal\/posts\/boosting-mental-health-bottom-line\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Implementing a Firm-Wide Workplace Mental Health Strategy\" \/>\n<meta property=\"og:description\" content=\"Addressing and improving workplace mental health can have significant benefits for not only your law firm\u2019s staff and their productivity, but your bottom line as well.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/insight.thomsonreuters.com.au\/legal\/posts\/boosting-mental-health-bottom-line\" \/>\n<meta property=\"og:site_name\" content=\"TR - 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