Insurance claims for mental health injuries have risen by 80%, or 22% year-on-year, since 2017, according to Allianz, with firms realising the importance of addressing mental health in the workplace.
According to the firm’s ‘Allianz Future Thriving Workplace’ report, it found benefits paid to claims for mental health were four times higher per annum and required more time off work than for claims relating to physical injuries.
Top problems included workplace bullying, ineffective management, harassment and problems with the organisational structure.
As a result, one in two employers said they felt increased responsibility for employees’ mental health at work and almost half said there were a greater need for mental health initiatives in the industry.
Areas to tackle included preventing stigmas and poor culture as 38% of people said they were doubtful if a mental health issue would be taken as seriously as a physical one.
Julie Mitchell, chief general manager of workers compensation at Allianz Australia, said: “We know that improved mental health in employees across all industries greatly benefits employers and their businesses. It positively impacts individuals’ productivity, talent retention and ultimately, business performance.
“Yet, the challenge now is to bridge the gap between awareness of mental ill-health in the workplace, and taking action. We can’t take a scatter-gun approach. The priority is addressing each individual’s wellbeing – as thriving employees will lead to positive team and business outcomes. Our actions need to be meaningful to employees, and embedded throughout all organisations.”
