Mental illness is costing the Australian economy $60 billion every year with a toll of lost wages and reduced productivity eating into company bottom lines, according to a report out today.Mental illness's direct cost to business is estimated to be $13b a year, according to new research from the Shared Value Project
Research released ahead of World Mental Health Day by the not-for-profit Shared Value Project suggests the $13 billion cost each year to business alone should be triggering alarm in corporate boardrooms. "Business should be very proactive these days and I think that's starting to be recognised fairly widely in corporate Australia, partly because it is directly in their own profit interests. It is also in the community interest," Professor Fels told the ABC's AM program.
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