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.

Key points:

  • Mental illness affects one in five Australians
  • Mental illness’s direct cost to business is estimated to be $13b a year, according to new research from the Shared Value Project
  • Mental health royal commissioner Professor Allan Fels says business will improve productivity by dealing more proactively with the issue

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.

 

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