Financial: The Business Case for Psychological Health & Safety

The Business Case for your Organization

The argument for addressing psychological health and safety varies across the landscape of the diverse workplace in our province. For some workplaces, the strongest driver will be financial; for others, productivity and growth. While other employers may identify the psychological health of their workplace as a corporate value.

You may be an employee, union leader, manager of a business or work team. You may be impacted by workplace issues or be directly responsible for addressing workplace health and safety. Alternatively, you may be that concerned employee seeking to convince leaders in your organization to take action on an issue.

Whatever your role you are not alone. PHS at Work is committed to empowering your leadership with the information and tools need to build the appropriate business case for your particular situation. It is important to be realistic and take little steps - one at a time.

I have provided in the Helpful Links four organization that can provide invaluable resources and information: Resource Links such as Gaurdingminds @ Work and the Canadian Council of Occupational Health and Safety can help you develop a plan and measure the success of any interventions you choose to undertake. 

The following workplace issues can provide helpful data to help build your business case:

Absenteeism rates
Benefits costs
Turnover rates
Accidents and injuries rates
Workers’ compensation claims
Disability rates

Remember that the issue you are addressing will not go away. It may go undercover for a while; however, without some form of action, it will eventually raise itself again - often with more energy, anger and resentment.

Most important the road to psychological health and safety of your workplace is most successful when employers and employees work together. 

Research:

Watson Wyatt Worldwide 2009/2010 Survey* noted that in Canada, mental health is the leading cause of both Short Term Disability (STD) and Long-Term Disability (LTD), in the U. S. it is the 4th greatest cause for STD and the 3rd for LTD

1 in 5 Canadians will experience a mental health challenge in their lifetime - the remaining 4 will have a friend, family member or colleague who will.

Canada's oil, gas and mining industries count for 4 % of Gross Domestic Product -Imagine the impact of losing 4% of GDP. That’s what Canada loses every year to mental illness.

Mental health challenges cost Canadian society $52 billion annually.

Psychological health challenges now account for approximately half of all approved disability claims in Canada’s public service.