Why work health and safety matters for young Australians 

life insurance
Written By Jam Villasanta

Work health and safety isn’t just a government report — it’s about people, risks, and the impact one injury or illness can have on finances, careers, and mental health. 

According to Safe Work Australia (2024), more than 200 workers lost their lives in 2023 due to traumatic work-related injuries, with a fatality rate of 1.4 deaths per 100,000 workers. 

“200 workers lost their lives to work related traumatic injuries in 2023, which is slightly above the five year average of 191… so it is increasing.”
— Phil, Skye Wealth Adviser

These numbers highlight that WHS isn’t something that happens to “other people.” It directly shapes how we plan our working lives, our financial safety nets, and our resilience. 

Which industries are most affected? 

Some industries remain consistently high-risk. In 2023, six industries accounted for 76% of workplace fatalities and 61% of serious compensation claims: 

  • Agriculture, forestry & fishing 

  • Public administration & safety 

  • Transport, postal & warehousing 

  • Manufacturing 

  • Healthcare & social assistance 

  • Construction (Safe Work Australia, 2024) 

Vehicle incidents caused 42% of all fatalities, while falls from height increased by 71% compared with 2022. 

“In terms of time taken off work… for financial and insurance services it was 15.2 weeks, which is actually the longest of any industry.”
— Kat, Skye Wealth Adviser

Interestingly, industries not considered “dangerous” also face challenges. Workers in financial and insurance services recorded the longest median absence — 15.2 weeks — largely due to mental health conditions or major illnesses rather than physical injury (Safe Work Australia, 2024; Comcare, 2023). 

What are people actually claiming for? 

The most common causes of serious claims are: 

  • Body stressing (musculoskeletal disorders) 

  • Slips, trips, and falls 

  • Being hit by objects 

  • Mental stress 

Together, these account for 80% of serious claims (Safe Work Australia, 2024). 

“80% of serious claims involve body stressing… falls, slips and trips… being hit by objects… and mental stress.”
— Kat, Skye Wealth Adviser

Mental health is becoming particularly significant: 

  • Mental health conditions now represent 11% of serious workers’ compensation claims. 

  • Claims have nearly doubled in the last decade, with a 97% increase over 10 years. 

  • The median payout for mental stress ($67,400) is the highest of any injury type, compared with $17,900 for vehicle incidents (Safe Work Australia, 2024). 

This shift mirrors broader findings from the Australian Institute of Health and Welfare (AIHW, 2023), which noted a continued rise in psychological distress among working-age Australians. 

How long are people off work? 

Time away from work is increasing across many industries: 

  • Median time lost for all serious claims: 7.2 weeks 

  • Median time lost for mental health claims: 37 weeks — more than 5x higher 

  • Construction: 8.5 weeks 

  • Healthcare: 7.2 weeks 

  • Mining: 10.8 weeks 

  • Financial & insurance services: 15.2 weeks (Safe Work Australia, 2024)

“The median time lost from mental health condition serious claims… was 37 working weeks. That’s almost the whole year.”
— Kat, Skye Wealth Adviser

Comcare (2023) similarly reports that psychological injury claims often lead to the longest recovery times, with higher likelihood of workers never fully returning to pre-injury duties. 

Are mental health claims rising? 

Yes — and quickly. In 2022–23, there were 14,600 serious claims for mental health conditions, up 19.2% from the previous year and nearly double compared with 2013 (Safe Work Australia, 2024).

“Mental health claims now account for 11% of all serious workers compensation claims and the median time… is actually five times longer than other injuries.”
— Kat, Skye Wealth Adviser

Unlike physical injuries, these claims often involve long recovery times and broader impacts on careers, finances, and families. Beyond Blue (2023) estimates that untreated workplace mental health conditions cost Australian businesses up to $10.9 billion annually in absenteeism, reduced productivity, and compensation claims. 

Men vs women: different risks, different outcomes 

The statistics reveal notable gender differences: 

  • Men: 95% of workplace fatalities in 2023; higher rates of physical trauma (wounds, amputations, internal injuries). Median compensation: $15,600. 

  • Women: Higher proportion of illness-related claims, particularly mental health (15% vs 7.4% for men). Median compensation: $12,700. Median time lost: 7.6 weeks compared with 7.0 for men (Safe Work Australia, 2024). 

“In terms of serious claims for women, they actually have a higher median time loss — 7.6 weeks than men which is seven weeks. But men get a higher amount of compensation… $15,600 compared to $12,700 for women.”
— Kat, Skye Wealth Adviser

These differences often reflect the types of roles men and women work in, as well as broader patterns in pay and compensation outcomes (ABS Gender Indicators, 2023). 

The economic cost 

Workplace injury and illness extend far beyond individuals. Safe Work Australia’s Safer, Healthier, Wealthier report estimates that eliminating work-related injury and illness could grow the economy by $28.6 billion annually, create 185,500 jobs, and lift wages by 1.3%. 

“If workplace injury and illness was completely eliminated, then Australia’s economy could grow by $28.6 billion annually… you would have 185,500 more jobs and average wage increases of 1.3%.”
— Kat, Skye Wealth Adviser

The Productivity Commission (2021) also highlighted that improved mental health could add up to $18 billion to GDP per year, underlining how much WHS outcomes shape national prosperity. 

What does this mean for young Australians? 

For workers in their 20s and 30s, these statistics are more than workplace trivia — they’re a reminder of how health and financial security are connected: 

  • Injuries and illnesses aren’t limited to high-vis jobs. Service-based and office roles are seeing longer absences, especially linked to mental health. 

  • Time off work is increasing, meaning recovery often takes longer than expected. 

  • Workers’ compensation has limits. Schemes vary by state and may exclude conditions such as general workplace stress or certain overtime payments (Comcare, 2023). 

“These schemes… often cap out at a certain number of years and dull down in replacement ratios. That’s why relying solely on workplace cover is a risk.”
— Phil Thompson, Skye Wealth Adviser

For many young Australians, these realities highlight the importance of planning ahead — whether through workplace cover, personal savings, or private insurance — to manage the risk of time away from work. 

This information is general in nature and does not constitute financial advice. Always consider your personal circumstances and seek professional guidance before making decisions about insurance or financial products. 

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Jam Villasanta
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