Reducing hidden costs
Reducing stress, managing conflict, effective leadership, flexible career options and dealing constructively with change are key elements of becoming an employer of choice and unlocking the full potential of your employees. Employers who invest proactively in tackling these challenges also reduce a significant burden of hidden costs.
Workplace stress is costing the Australian economy $14.81 billion a year. It is the second most common compensated illness/injury in Australia. Public sector workers account for a disproportionate share of claims, with 20% of claims, compared to 7% of claims by workers in other sectors.
Costs also include:
- Absenteeism
- Presenteeism
- Lost productivity
- Lost Opportunities
- Disproportionate use of resources to deal work-relationship issues
- Staff retention
- Reputation
- Rehabilitation