In any given year, 1 in 5 people in Canada will personally experience a mental health problem or illness. Few executives or business owners would deny the importance of their workforce but despite the acknowledged strategic importance of this critical human asset, too few executives, owners, or managers stop to consider the psychological condition or mental wellbeing of their employees. Yet an overwhelming body of evidence suggests they should.

By 2041, it is estimated that the cumulative cost of poor mental health to the Canadian economy will exceed $2.5 trillion. There are also indirect costs related to poor mental health in the workplace, such as absenteeism, presenteeism, and challenges with recruitment and retention. The human cost for employees who are directly impacted by mental illness can be great. Stigma and discrimination can make employees hesitant to disclose their mental illness at work and can prevent them from getting the help that they need.

Many human resources executives are seeing disability claims attributable to mental illness emerge as the fastest-growing category of insurance costs. One in three workplace disability claims in Canada are related to mental illnesses. 70% of disability costs are attributed to mental illness. Mental health is the top concern for a post-pandemic post-COVID workforce, according to a 2021 health-care survey by Benefits Canada.