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Why Invest in Psychological Health and Safety

A team of cheerful coworkers with their hands stacked together

Set Your Business Apart

Workplace psychological health and safety has become an expectation today if an organization wants to be seen as employer of choice and compete successfully in the market for qualified workers.  You can set your business apart from your competitors by communicating your initiatives in this area.    

Not only do workers today expect to be protected from psychological harm such as bullying and harassment, but they also look for workplaces with policies that promote their psychological well-being. Workers want to do their best work while at work and still have enough reserves left at the end of the day to spend time with their family and friends.  

At the same time, we are seeing changes in law and policy at the provincial and federal levels as well as court rulings that hold employers accountable for the psychological health of their staff. 

It Pays to Invest

The good news is that investing in psychologically healthy initiatives has demonstrated positive returns on investments. A Deloitte study from 2016-2018 reported an average initial ROI of $1.62, and a 3-year ROI of $2.18. These organizations had reductions in their disability, absenteeism and presenteeism costs, increased productivity, higher retention rates, stronger talent attraction, and greater engagement.  

Some of their key insights:   

  • Wellness programs are more likely to achieve positive ROI when they support employees along the entire spectrum of mental health—from promotion of well-being to intervention and care. 
  • Employers could achieve greater program ROI by prioritizing investing in higher-impact areas such as leadership training and preventive interventions, including psychological care. 

The 2013 Canadian National Standard for Psychological Health and Safety in the Workplace identifies 13 Factors and provides many free or low-cost resources available to support employers in developing new strategies to promote and protect workers’ psychological health. In their case study report of early adopters, some of the top actions taken were:  

  • Respectful workplace policies and education 
  • Enhanced mental health knowledge 
  • Resilience building 
  • Training managers about mental health 

You can find help at any of the websites listed below and your local CMHA office has numerous training initiatives available to support you along the way. 

Start today on your journey to be a psychologically safe and healthy workplace and promote your initiatives in your advertising and social media, and when you recruit. You will be on your way to being known as an employer of choice.  

Resources: