Tips to give business leaders an edge over the competition

The evolution of work requires leaders to stay up to date with emerging trends and issues.

Unmind outlined some of the top training options to offer managers in the 2023 Workplace Mental Health Trends report.

Financial wellbeing

As the cost of living skyrockets, employees may be worried about supporting themselves and their families.

According to Unmind, 83 per cent of HR leaders believe financial stress is affecting employees’ ability to work.

There are ways that management can support staff in times of financial hardship. By providing leaders with the tools and skills to coach their employees, everyone in the business will reap the rewards.

Showing empathy, being transparent and upskilling staff can help to reduce the stress that inflation brings. Providing financial support training may also be a great addition to the workplace.

Leadership development

Upskilling, reskilling and developing the capability of the leadership in an organisation should be a priority when discussing employee wellbeing.

After all, studies show that half of all employees have left a job to get away from a poor manager.

This is why leadership wellbeing training is so important. If not done properly, it can result in increased staff turnover and poor attraction.

By providing leaders with adequate wellbeing training, they will be better equipped to listen and act on the wants and needs of staff.

Melanie Cochrane, chief executive and managing director of Equifax ANZ, commented: “A culture of workplace wellbeing needs to be built and embodied by an organisation’s leaders; otherwise, it often becomes all talk and no action.”

Psychosocial risk management

Psychosocial risks are basically a hazard that can result in psychological harm.

This could be harassment or bullying in the workplace, excessive workloads, lack of flexibility, or tight deadlines.

According to 2023 Workplace Mental Health Trends, 67 per cent of HR professionals said that dealing with psychosocial risks has become a top priority.

By training leaders on what psychosocial hazards are, they will be better able to identify issues and eliminate them.

“Leaders can’t just talk the talk; they must walk the talk. They must know what workplace psychological hazards exist, why they create risk, and exercise their skills to lead in a psychologically safe and productive manner,” said FCW Lawyers senior associate for workplace relations Nina Hoang.

Bringing HR into business strategy

HR has evolved from an admin position to a true driver of the company. As Jade Green said to HR Leader, the rise of the “people and culture” department has shown this, as the HR function has become an area to promote the wellbeing of staff.

Unmind highlighted that while the expectations of the HR department are increasing, resources aren’t.

Businesses can do their part to keep up with the evolution of the role by providing HR professionals with the adequate tools, skills and development needed to do their job properly.

Wellbeing champions

Promoting wellbeing champions are a great way to cultivate positive mental health in the workplace, said Unmind.

According to the report, 75 per cent of HR professionals agree that resources should be diverted to foster wellbeing champions, and 67 per cent believe these roles should be formally recognised.

The role of the wellbeing champion is to promote wellbeing on a personal level. Unmind describes the position as a “social movement” in which they are connecting with colleagues as something of a counsellor or therapist.

David Titeu, founder and director at Linkmate, said: “Mental health champions have been absolutely crucial in supporting HR to promote positive wellbeing and smash stigma through a friendly lens. Shining a light on these legends and giving them the recognition they deserve is incredibly important, as it amplifies the meaningful impact they’re making so that more employees can accessibly benefit and more organisations feel inspired to follow suit.”

Granting champions with an official position and then providing ongoing training and support for their function can help to foster positive wellbeing from the ground up.

To read Unmind’s full 2023 Workplace Mental Health Trends report, click here.