Financial services companies are seemingly committed to the wellbeing of their employees, with 75 per cent implementing appropriate programs or initiatives, says the Australian Council of Superannuation Investors (ACSI).
In a recent ACSI study conducted by research house CAER, it was found that 75 per cent of companies have wellbeing programs in place, with 92 per cent providing ‘flexible workplaces’.
According to ACSI, mental illness is on the rise – half of the Australian population is expected to experience a mental health issue at some stage in their life.
“Companies with mentally healthy workforces are safer, more productive, enjoy stronger employee engagement and have workers who are more resilient in times of change,” the report stated.
The ACSI stated that it is in the interest of investors to understand how companies manage the mental health of their workforce.
“Given the prevalence of mental illness, it is also in the best interests of long-term investors to work within an economy that has an inclusive approach to workforces, one that does not stigmatise mental ill health.
“Wellbeing programs are one of several possible initiatives disclosed by companies which seek to encourage positive physical and mental health among their workers,” the report stated.
The report found that training and development programs are also evident in 96 per cent of companies, and 75 per cent offer employee assistance programs (EAP) or counselling.
“For employees experiencing mental ill health, professional support and advice may help them better understand ways to address and manage their mental wellbeing,” said ACSI.
Stimulate new ideas. Stimulate new thinking. Top up your CPD and hear from industry experts with InvestorDaily’s Knowledge Centre. Keep up to date with the latest trends and reforms, all while adding to your CPD. Explore the knowledge centre Knowledge Centre now.
Despite unemployment falling to pre-pandemic levels, the central bank still thinks it’s too early to count its chickens on the success of ...