Business Advice

Worker’s mental wellbeing of great cost to SMBs

- May 16, 2016 2 MIN READ

Businesses are forever focused on cashflow and their bottom line and with this operators need to pay attention to the losses they can incur if they don’t focus on staff retention, workforce wellbeing and employee engagement.

The costs of absenteeism in Australia in 2015 was reportedly $44 billion – the average cost being $578 per employee, per absent day. And even if a staff member comes into the office but isn’t feeling 100 percent, presenteeism in Australia is costing organisations $35 billion.

Small business workers often come under pressure due to longer business hours and elevated workloads which can see many employees facing associated mental and emotional demands rather than simply physical demands within the workplace. Work spilling over into family life, common in family enterprises, can also adversely impact worker’s health.

Developing employee wellbeing, while simultaneously strengthening organisational wellbeing, and improving the bottom line is no easy feat but strategic consultancy agency Engaged Marketing believes that businesses can access affordable tools to assist them such as Potentia, an interactive e-learning platform for employees.  

Particularly as small to medium-sized businesses grow and expand their workforce, Potentia Labs CEO, Dustin Milner argues that innovative companies consider the whole wellbeing of their corporate culture to support maximum performance.

Engaged Marketing’s Managing Director, Chris Roberts, says the purpose of Potentia is to build effective work and life skills for employees, which, in turn builds a resilient and innovative organisation.  

“Building these skills helps people become more focused and engaged in their work, which allows them to be more productive while simultaneously building their wellbeing and helping them communicate much more effectively with one another, which of course has profound positive benefits for the organisation,” said Roberts.

“The unique aspect about Potentia is that it’s like having a positive psychology coach in-house working with employees, with the effects of this positive change flowing through the entire organisation. The result is better outcomes such as lower absenteeism, higher loyalty, and greater discretionary effort which flow into the bottom line.”

Potentia can be used on smart phones, tables and desktop devices and is quite cost effective as the investment starts from literally the cost of a cappuccino per employee per month. It’s simple, easily accessible and facilitates lasting change. A person only needs to invest a few minutes a day completing missions and achieving goals. The system promises an enticing gamification approach and the user is encouraged by rewards.  

“The important thing is the tool is based on effecting permanent behavioural change because it’s accessible every day,” said Roberts.

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