Australians leaving money on the table by not seeking mental health support during major life events
Australians who proactively manage their mental health during major life events could save the economy $219 million and recover 403,000 working days annually, according to new modelling from health insurer Bupa and the Centre for Economics and Business Research (Cebr).
The global study, which included Australian consumers, examined how significant personal milestones, such as becoming a parent, losing a loved one, caring for a relative, and going through a divorce or marriage, affect employee wellbeing, absenteeism, and workplace productivity.
The Australian findings come as the same issues cost the global economy an estimated $636 billion in lost productivity and 1.7 billion working days each year.
Central to the local findings is the measurable impact of early action.
Australians who took proactive steps to manage their mental wellbeing, such as speaking to friends and family, seeking professional help, or consulting a healthcare provider, took an average of two fewer days off work per year.
Despite this, around 70% of Australian respondents said they wished they had sought support sooner.
Guneet Sawhney, Managing Director of Bupa Healthcare Services, said the gap between practical preparation and mental health readiness is a recurring theme among Australians facing major life changes.
"We often spend a lot of time preparing financially and practically for life's biggest moments, but give far less thought to the impact they can have on our mental health," Sawhney said.
"What stands out in this research is how many people wish they had sought support earlier. Whether becoming a parent, caring for a loved one, or coping with loss, our mental wellbeing shapes how we experience those moments."
Impact beyond absenteeism
The productivity cost of unaddressed mental health challenges extends well beyond absenteeism. Respondents globally who had experienced one or more major life events reported reduced concentration and difficulty focusing (53%), emotional overwhelm (69%), and lower confidence (52%).
These are all indicators of presenteeism that erode workplace output even when employees remain on the job, according to the report.
Liam Daly, Senior Economist at Cebr, said the scale of economic disruption tied to major life events is often underestimated by both individuals and organisations.
"Life's biggest moments, the joyful ones and the difficult ones alike, rarely stay confined to our personal lives. They follow us into work too, often in ways that are easy to underestimate," Daly said.
The research signals a clear opportunity for Australian employers to build mental health support into their workplace wellbeing strategies, particularly around life transitions that employees are likely to face at some point in their careers.
