But recently, two big players have called for unprecedented action in the corporate setting to improve employee wellbeing. Jeff Kennett, former Premier and chairman of BeyondBlue, has come out saying that performance bonuses of top executives should be partially linked to the mental wellbeing of their staff. HALLELUJAH!
This wave comes to light as a new NAB/IPSOS survey showed Australians regard happiness as the topmost measure of success, followed by good family relationships, feeling fit and healthy, and being a ‘good person.’
Kennett has put mental wellbeing on the same page in significance as family violence and bullying. “At a part of Australia’s history where we’re trying to address family violence, where we’re trying to address bullying, where we’re trying to address good mental health practices, it is time for industry leaders big and small to give the mental health of their workforce the same priority they would give any other measurable figure,” Kennett said.
As a result of this passion, Kennett put a proposal in front of the Business Council of Australia (BCA) saying that companies should introduce key performance indicators (KPIs) for chief executives and other staff to ensure the mental health within organisations is maintained. BCA chief executive Jennifer Westacott agreed the issue needs to be taken seriously.
In response to critics that mental wellbeing is too subjective and unmeasurable, Kennett has rejected this claim. He counters with the facts, stating that lost productivity costs the economy $10.9 billion a year. Westacott agrees saying that “These things at the bottom line result in unplanned absenteeism, they cost businesses money,” and “They’re not just feel-good things. These are real economic things. That’s why the Business Council is interested and passionate about this.”
Kennett says the way he envisages improving wellbeing includes statements like “What I would like to see in every head of department of a bureaucracy, in every CEO’s performance, and every direct report’s KPIs, is a KPI about the mental health, the wellbeing, of their workforce, of those that report to them,” and “When you talk about pay performance, when you talk about bonuses, particularly, I want to see a KPI in place that addresses this, because that will focus their mind more than anything else.”
This importance on mental health and wellbeing is not just for employees, but for senior management as well. Throughout his career, Kennett recounts countless incidents of C-Level Executives struggling with burnout. Kennett told the Australian, “I have had a number of organisations in the last two years, three years, where a CEO, a CFO, a COO has hit the wall, and the ramifications on the small leadership group is obviously quite profound, not to mention the impact on the business”.
This is a huge step for addressing the mental wellbeing of Australia, and putting at the forefront the happiness of our nation. Happy and satisfied people will result not only in a more productive workplace, but also with better relationships, more financial security, and a healthier society.
So what does this mean for your business or workplace? It means that it’s time to get serious about mental health and have programs and policies in place to be in front of the pack. Enlist the help of a health coach, exercise specialist, mental wellbeing expert (someone like me!) to help customise a program that meets the KPIs that your organisation is going to enlist to promote the wellbeing of it’s employees.
I am really excited about watching this one progress, so stay tuned for updates and we can see where this movement gets us!
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