Under Work Health and Safety (WHS) laws approved as a Code of Practice, organisations must eliminate or minimise psychological risks in the workplace. With legal implications if not met, it is often the leader or managers responsibility to identify, manage and /or eliminate psychosocial risks.
Beyond such legislations, there is a direct correlation between psychological safety, predicted worker engagement and return on assets – which means psychological safety can make or break team performance.
A 2017 Gallup poll, noted the impact of improving the rate at which employees felt their opinions counted at work. Moving from 30% to 60% found organisations
- Reduced turnover by 27%
- Reduced safety incidents by 40%
- Increased productivity by 12%