New research shows that prioritizing mental health and well-being in the workplace can lead to significant financial gains for businesses.
Geelong, Victoria, September 23, 2024 – Australian employers are recognizing the value of investing in their employees’ mental health. Louise Lugsdin, founder of The Team Approach, advocates for a shift in perspective, viewing workplace well-being not just as a moral obligation, but as a strategic investment with tangible returns.
“We often hire people based on their skills and expect them to simply do their job, but we must remember that the workplace is where they spend a considerable amount of their time,” says Lugsdin. “When we see the workplace as a space for growth and development, the benefits extend beyond the individual – businesses experience remarkable improvements in productivity and overall success.“
The Financial Benefits of Prioritizing Mental Health
Businesses worldwide are realizing the strong connection between healthy and happy employees and their engagement, productivity, and loyalty. Research has shown that for every $1 invested in improving workforce mental health, companies can expect a return of $4. This compelling data highlights the tangible benefits of prioritizing employee well-being.
“These numbers are difficult to ignore,” says Lugsdin. “Businesses that invest in their employees’ mental health not only cultivate a positive work environment but also experience significant financial gains. It’s a win-win situation.“
A New Approach to Leadership and Business Growth
Lugsdin emphasizes that embracing this mindset shift is crucial for both small and large businesses. “It’s not just about improving the bottom line – although that is a crucial outcome – it’s about creating a workplace culture where employees feel valued and supported. This, in turn, drives engagement and loyalty, which are critical for long-term business success.”
The Team Approach, based in the Bellarine area of Geelong, is leading the way in promoting workplace well-being throughout Victoria. By offering leadership training, Employee Assistance Programs (EAP), and a range of workplace well-being services, helps businesses understand the value of investing in their workforce.
“Whether you’re running a small business or a large corporation, the message is clear: investing in employee mental health is not just an ethical choice, it’s a smart business decision,” says Lugsdin. “The returns on this investment are not only financial but also create a more resilient and engaged workforce.”
Lugsdin encourages Australian employers to embrace this opportunity: “Let’s shift our mindset and recognize the workplace as a space where people can grow and thrive. By investing in mental health, we’re investing in the future of our businesses and ensuring a strong return on that investment.”
For more information on how can help your business thrive through leadership training and workplace well-being initiatives, contact us today.
Media Contact
The Team Approach
Source :The Team Approach