Wellbeing: A Complete Reference Guide, Volume V, Economics of Wellbeing

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Investing in Wellbeing in the Workplace

More Than Just a Business Case

David McDaid and A-La Park

London School of Economics and Political Science, U.K.

Why Should We Be Interested in Mental Health and Wellbeing at Work?

Wellbeing can be thought of as “a dynamic state in which the individual is able to develop their potential, work productively and creatively, build strong and positive relationships with others and contribute to their community. It is enhanced when an individual is able to fulfil their personal and social goals and achieve a sense of purpose in society” (BIS, 2008, p. 10). Work makes a contribution to our wellbeing. We simply cannot leave our mental health and wellbeing at the door of the workplace. Employment in a good working environment is beneficial to physical and mental wellbeing. Moreover, for people who have experienced poor mental health, maintaining or returning to employment can also be a vital element in the recovery process, helping to build self-esteem, confidence, and social inclusion (Perkins, Farmer, & Litchfield, 2009). This chapter provides an overview of some of the economic arguments for investing in actions to protect mental health and wellbeing at work, before going on to review what is known about the cost-effectiveness of different interventions and considering how this evidence base may be further strengthened. Where any monetary values are reported in this chapter these have been converted to 2010 US dollars using the IMF World Economic ...