Psychosocial and Psychological Risks in the Workplace Report

If you have had a discussion with any employer or employee over the past year about key issues in their workplace, it is likely you will have found one resounding theme – psychological health is impacting workers and the workplace, the awareness of it is at an all-time high. And everyone is struggling with effective ways to manage it.

Ashurst's inaugural global survey, Psychosocial and Psychological Risks in the Workplace 2023, reveals eight findings on how organisations are managing psychosocial risks in the workplace. The report found that while there is a rising awareness of how psychological health can impact workers, many employers are still struggling to manage the issue. It also found considerable sector and regional differences in departmental responsibility and definitions as well as differing approaches to addressing psychosocial/psychological risks. Few organisations have taken a wholistic systems-based approach to this area of emerging focus for safety regulators and legislators.

The report compiles the views of senior business leaders from across the FTSE 100, Australia's Top 200 ASX-listed companies, and large government agencies and departments on psychological and psychosocial risks in the workplace.

Early detection of psychosocial risks in the workplace is crucial to managing these risks. Yet nearly 30 per cent of respondents indicated that their organisation does not report in any way to their senior management or board about psychosocial risk.

If you are interested to find out how Ashurst can support your organisation on its journey in addressing psychosocial risks in the workplace, please contact us for a confidential discussion.

This material is current as at November 2023 but does not take into account any developments to the law after that date. It is not intended to be a comprehensive review of all developments in the law and in practice, or to cover all aspects of those referred to, and does not constitute legal advice. The information provided is general in nature, and does not take into account and is not intended to apply to any specific issues or circumstances. Readers should take independent legal advice. No part of this publication may be reproduced by any process without prior written permission from Ashurst. While we use reasonable skill and care in the preparation of this material, we accept no liability for use of and reliance upon it by any person.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to.
Readers should take legal advice before applying it to specific issues or transactions.