Australia’s top companies are failing to recognise and manage mental illnesses in the workplace. This is despite ongoing attempts at raising awareness in Australia to the dangers of mental health issues going unnoticed and untreated.

 

A poll of ASX Top 300 companies by Chartered Secretaries Australia (CSA) revealed that over 40 per cent of participants did not perceive mental illness as a potential risk to their organisation, and of those that did, close to half, said their organisation did not have policies in place to manage this risk. 

 

In addition, nearly 70 per cent did not have a dedicated and properly trained resource to identify and manage an employee suffering from mental illness, the poll found.

 

According to CSA’s chief executive Mr Tim Sheehy, “Despite widespread commentary on the extent of mental health in the community, it still has not registered on the corporate radar. In fact concern about mental health in the workplace seems to be at a similar stage as we were with OH&S in the construction industry 30 years ago when one or two fatalities were widely considered as an ‘unfortunate’ cost of doing business. That degree of indifference would simply not be tolerated today.”

 

There are compelling statistics on just how prevalent mental illness is in the workplace. Research shows that Australian businesses lose over $6.5 billion each year by failing to provide early intervention and treatment for employees with mental health conditions. In relation to psychological injury claims, work pressure accounts for around half of all claims, compared to harassment and bullying which account for around a quarter of claims.

 

“Mental illness in the workplace is a reality. Improperly managed, it poses real risks in terms of reduced productivity, workplace conflict and loss of morale, not to mention the spectre of corporate and executive liability if these issues continue to be neglected by senior decision-makers,” said Mr Sheehy.