Job strain related depression costs the economy an estimated $730 million every year, according to a new report released by VicHealth and Melbourne University this week.
Associate Professor Tony LaMontagne from the University of Melbourne School of Population Health, said that “job strain”, where workers have little control over their job, but who are under high pressure to perform, accounts for 13 per cent of depression in working men and 17 per cent in working women.
The $730 million price tag takes the costs associated with absenteeism, lost productive time, employee replacement costs, government-subsidised mental health services and medications for depression into account.
“These figures represent a significant burden on the Australian economy that is preventable by improving job quality,” said LaMontagne.
As such, it is hard to comprehend why more Australian organisations don’t rate employee wellbeing a core part of their business, since they would ultimately be the economic beneficiaries of taking steps to reduce depression among their workforce, through reduced staff turnover and recruitment costs and improved productivity.
“There has always been legal and ethical reasons for employers to address poor working conditions and to support staff, but these new findings add an economic incentive as well. Employers would be the major beneficiaries of reducing job strain over the long term, because the greatest costs fall on employers due to lost productivity and employee replacement,” said LaMontagne.
In addressing the issue, employers can start by making changes to job control, moderate job demands and by introducing a support structure to foster the development of their people.
Interestingly the release of this report coincided with R U OK? At Work Day, an initiative that recognises we spend a lot of time in the workplace, and that staff should be given the opportunity to connect with family, friends and colleagues and ask "R U OK?"
The initiative aims to help employees feel good about themselves by connecting and supporting others within the organisation, and through that connection and support, reducing workplace stress and depression.
Download the VicHealth and Melbourne University Report here
Mitrefinch Absence Mangement, a component of the Mitrefinch Time and Attendance System, measures the work absences of individual employees and how this impacts the organisation's overall productivity. Real-time colour coded reporting allows management to quickly identify potential problem areas and resolve any issues before they get out of hand.
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