Work-related mental stress has become a major concern in workplaces in Australia, where stress related claims have doubled and the trend is on the rise.
- The Victorian Workcover Authority proclaims that stress is the second most common cause of workplace compensation claims in Australia after manual handling.
- Safe Work Australia indicates that this is a matter of “National Interest”.
Comcare advises that the average mental stress claim is around $191 000.
The challenge for leaders
Leaders are faced with tangible costs such as increased claims as well and increased Workcover insurance premiums, as well as the intangible, which ranging from absenteeism, presenteeism, low productivity and morale, high turnover, to missed business opportunities, employer brand damage.
And there’s there the legal risk of prosecution and penalties.
So where does this leave you and your organisation?
What are you doing to manage this growing risk?
How do you know if what you’re doing is enough?
Turn your risk into a competitive advantage
Leaders who have successfully embraced the challenge of creating psychologically safe, fit and thriving workplaces are already ahead of the curve.
For those about to commence the Psychological Safety journey, the greatest risk lies in not having a specific and robust strategy, or failing in its execution.
To avoid the common pitfalls, and ensure your success in creating a great and Psychologically safe , fit and thriving workplace, download your free copy of “ Lost in translation – 7 common mistakes that leaders make when it comes to addressing Psychological Safety at work”, by entering your details below: