Legacy workplace compliance regimes have tended to deal with risk mitigation from a ‘risk versus cost’ perspective.
This has resulted in much time and money being directed at work health and safety from a physical risk perspective. This common sense approach has resulted in safety being regarded as one of the most important considerations in business.
Some would even go as far as saying that safety is the only ‘not-negotiable’ in business. No doubt, if you asked yourself how many fatalities would be acceptable in your workplace, you’d most likely respond with zero!
Is bullying, harassment and discrimination the NEW work health and safety?
The Australian business environment has changed dramatically in recent years, whereby one might suggest that things such as bullying, sexual harassment and discrimination are equally as important as the physical safety of our employees.
The rise of social media has made it even more complex as we are now subject to online discrimination, sexual harassment and cyberbullying on a daily basis. But unfortunately, most Australian workplaces have not put in appropriate mechanisms to help them combat these issues.
Did you know that 70% of Australian businesses do not have a reliable workplace compliance system in place to address bullying, harassment and discrimination?
Industry surveys report that more than 70% of Australian businesses do not have a reliable workplace compliance system in place to support them with the increasingly complex issues around bullying, harassment and discrimination.
As a result, engagement surveys, exit interviews and lost time injury reports all point to a massive shift in absenteeism, staff turnover, lost productivity, mental health issues and reputational damage.
Give Risk vs Cost the tick!
Claims of legal liability related to bullying, harassment and discrimination are on the rise and unfortunately it is no longer a matter of ‘if’ but ‘when’ a business will be dealing with such a situation. Yes, the cost can be in the hundreds of thousands of dollars, before even considering the impact of reduced staff engagement and the unrepairable damage to a business’s reputation.
Most businesses have caught on and have identified this using the ‘risk versus cost’ approach to risk mitigation.
Future leaders go beyond ‘Risk vs Cost’ and towards ‘Risk vs Reward’
Future leaders are moving beyond simple ‘risk vs cost’ analysis and are now focusing on ‘rewards’. The reward of having a workplace culture where people feel safe and treat each other fairly and with respect is undeniable.
This is why future leaders are starting to view workplace compliance as an ‘investment’ rather than a ‘cost’. This shift in mindset is a big first step towards all businesses becoming better places to work, customer centric and equipped for sustainable growth!