With the number of Australians reporting to have a mental health condition on the rise, work-related psychological injuries or mental health issues are a of significant concern for businesses.

And it’s not just workers.

Almost half of Australian SME owners have cited experiencing stress, anxiety and depression in the past 12 months whilst running their business. In fact, 31% said mental health was their highest concern.

Take a moment to consider how you and your staff are coping with the challenges of life, work, family, and managing others. It’s time for a check-in on how to improve well-being throughout the workplace.

The state of mental health at work

In Australian workplaces, psychological injury accounts for more than double other serious injury claims on average. Each year, mentally unhealthy workplaces cost our nation almost $39 billion due to lost productivity and participation, says the Black Dog Institute.

Workers have stated they have suffered from psychosocial hazards and risks including job demands, inadequate support, remote or isolated work, bullying and harassment, and poor relationships at work.

The power of social connection

Social connection plays a key role in well-being. For your business, it’s about fostering a sense of belonging and inclusion among your staff and customers and clients. A recent report stated that well-being is ranked higher in organisations that take action on disability and inclusion. Staff also suffered under non-inclusive managers with more negative impacts on job satisfaction, attrition, mental health, discrimination, and harassment.

Top-down solutions

The MYOB Business Monitor also reveals how SME owners manage their mental well-being. The list included: exercise, talking with family and friends, mindfulness, sleep, food, meditation, spending time with pets, hobbies, and seeking professional health.

Workers compensation insurance

The tips above help you manage and minimise your risks for worker health and safety, particularly concerning psychological injury.

Be sure to check your workers’ compensation insurance offers appropriate cover for your unique and changing business needs. Also, some insurers offer discounts, incentives, or adjustments to their policies to reward businesses with safe and healthy practices.

If you would like to know more about managing mental wellness in the workplace, please CLICK HERE or contact us for more information.