01 · Your organisation

Tell us about the workforce.

Number of employees

Everyone in the organisation, or the business unit being assessed.

Total annual wages

Gross, including super. If unsure, multiply average salary by headcount.

Industry classification

iCare NSW workers' compensation classifications, used as the national benchmark. Start typing, for example "accounting", "construction" or "hospital".

How premiums are estimated

Premium rates vary by industry. The calculator uses iCare NSW's published 2025-26 rates as the benchmark for insurance costs. Rates in other states and territories differ. Read the premium research

Psychosocial maturity, self-assessed

How advanced is psychosocial risk management today? Lower maturity carries higher costs, because the response is reactive rather than preventive. Levels follow the SafeMinds, Better Work® maturity model.

Basic Score 0-20 No formal systems in place. Psychosocial risk management is absent or ad-hoc, with a purely reactive approach to problems as they arise. Developing Score 21-40 Emerging awareness of psychosocial risks. Some initial steps taken but responses remain largely reactive and inconsistent across the organisation. Defined Score 41-60 Formal policies and processes have been established for identifying and managing psychosocial risks, but application across the business is inconsistent. Managed Score 61-80 Comprehensive, organisation-wide systems are in place. Psychosocial risk management is data-driven, with regular monitoring and reporting. Optimising Score 81-100 Industry-leading approach with continuous improvement and innovation. The organisation is a recognised leader in psychosocial safety and wellbeing.

Not sure? The SafeMinds® Index gives a measured 0–100 maturity score, benchmarked to your sector.

02 · Your costs

The estimated cost of psychosocial risk.

Projected three-year cost at a maturity level, with no change in maturity.

Annual cost, year one
Per employee, per year
Share of annual wage bill

What drives the cost, year one

Three-year cost by category

Hard costs are premiums, backfilling and hiring to replace leavers. Hidden costs are absenteeism, presenteeism and the productivity lost while new starters ramp up.

How each figure is built

03 · Assumptions

Every benchmark, and where it comes from.

Each field starts at a published benchmark. Replace any of them with your organisation's own figure and every result updates.

Claims and premiums

Psychosocial share of workers' compensation claims

Mental health conditions were 12.0% of serious claims in 2023-24.

Benchmark 12% Source

Overall claims rate

Share of staff who make a claim each year.

Benchmark 1.07% Source

Annual growth in psychosocial claims

Benchmark 10% Source

Annual growth in workers' compensation premiums

Benchmark 8% Source

Claims that need backfilling

Benchmark 50% Source

Backfilling per psychosocial claim

Median time lost on a mental health claim: 35.7 working weeks (2022-23).

Benchmark 178.5 working days Source

Absence and productivity

Psychosocial absence

Benchmark 1.8 days per employee a year Source

Presenteeism multiplier

Presenteeism cost as a multiple of absenteeism cost.

Benchmark 8× absenteeism Source

Turnover

Psychosocial turnover rate

Turnover attributed to psychosocial drivers.

Benchmark 7.5% Source

Hiring cost

Benchmark 20% of salary Source

New-starter ramp-up

Months of reduced productivity for each new starter.

Benchmark 2 months Source

Wage growth

Annual wage growth

Applied to backfilling, turnover, absenteeism and presenteeism.

Benchmark 3% Source

Method

Costs are calculated from your employee and wage figures, the iCare NSW premium rate for your industry classification, and your maturity level.
Maturity scales every cost. Basic maturity carries costs 30% above the Defined baseline; Optimising carries costs 30% below it.
Costs are projected over three years, with annual growth applied to wages, claims and premiums.

Sources

04 · Your report

Take the numbers to your executive team.

A two-page PDF in plain English: the details you entered, the estimate, and the assumptions behind it, with every source in an appendix.

What psychosocial risk costs your organisation.