A national workplace survey has found half of insurance and finance workers feel their mental health is being paid lip service and a large number guard their “whole selves” at work and are not comfortable enough to share personal interests, values, culture and or lifestyles.

The October survey of 1000 Australian workers by the Australian College of Applied Professions (ACAP) reveals 60% of insurance and finance workers would hide a mental or physical health condition to avoid being judged or discriminated against.

ACAP CEO George Garrop says a recent surge in initiatives to improve mental health, wellbeing and diversity and inclusion are not always leading to meaningful outcomes or positive sentiment for workers.

“Many Australians still feel very guarded in the workplace,” he said. “Workplaces could be doing more to acknowledge the unique values, needs, personalities and circumstances of their people.”

Mr Garrop recommends managers and leaders develop skills like empathy, emotional intelligence, effective communication, flexibility and active listening.

The poll findings come as insurers struggle with a strained talent pool and staff retention problems, and after a recent Federal Productivity Commission report estimated mental illness-related staff absenteeism and presenteeism costs Australian workplaces up to $17 billion a year.

Part of global education provider Navitas, ACAP trains more than 4000 students annually across its Australian campuses and online.