The Hidden Costs of Workplace Bullying | Learning Seat

1300 133 151 www.learningseat.com.au

To Dial In: Australia: +61 2 9087 3602Access Code: 824-835-985

THE HIDDEN COST OF WORKPLACE BULLYING AND HARASSMENT


ABOUT US: Lindsay Evans Head of Legal & Compliance

Lindsay brings over 9 years of experience and subject matter expertise as an employment lawyer. With a particular interest in discrimination law, Lindsay works closely with public and private organisations across Australia to identify legal obligations, risk exposure and develops compliance strategies to help build a strong compliance culture.

Dick GrahamBusiness Development Manager

Dick has over 10 years’ experience as a solutions consultant in the compliance and e-learning space. Dick developed a keen understanding employee onboarding and how important it is to get right to set the tone for company culture. Dick is a reliable source of knowledge around e-learning principals and works with clients to find the right compliance solutions for their organisational needs and business outcomes.


THE DEFINITION OF BULLYINGTHE LAW

• What is bullying?

• Legislative framework.• Criminal law.• Commonwealth law.• State laws.

• A need to look beyond this.


THE HIDDEN COSTS – WHAT WE MEAN• Clear financial costs.

• The power of the media.

• Damage to reputation – hits hard and fast.

• The reality:• Rich v PWC• Colliers CFO


• Allegations of sexual harassment against CEO, Mark McInnes.

• Share price had risen 311% during McInnes’ reign. Dropped 5% following incident.• Market reaction: stripped $107 million from value of David Jones.• Media frenzy: claim for $37 million making headlines nationally. • Rumoured to have settled for $850,000 – David Jones having to pay half of this.

THE COST OF REPUTATIONAL DAMAGE


IMPACT FOR THE BOARDBoard accountability and reputation damage

• Cited in the Financial Review as ‘evidence of poor corporate governance’.

• Resigned 3 years into 5 year term – paid $2.5 million.

• Orica’s shares shed more than $375 million in value.

• Board expected to be across the culture of its organisation.

“By focusing more on culture, we expect to get early warning signs where things might be

going wrong to help us disrupt bad behaviour before it happens and catch misconduct early.”

- Greg Medcraft, Chairman, Australian Securities and Investments Commission, July 20, 2016


ADDITIONAL COSTS

• Investigation• Legal• Insurance premium• Internal costs• Costs to remedy


• Take all reasonable steps.

1. Clear and comprehensive policies.

2. Training.

3. Implement your policies and training.

WHAT DOES THIS MEAN FOR YOU


CULTURE – THE MISSING PIECE?• “Values and behaviour that contribute to the

social and psychological environment of your organisation”.

• The Criminal Code.

• Culture is on ASIC’s agenda.

• A healthy workplace – empower your employees to speak up.


QUESTIONS?

QUESTIONS?


THANK YOU!For more information about workplace bullying e-learning courses, or to demo courses from our library, you can contact us at:

Email: [email protected] Visit us online at: www.learningseat.com.au

Are you a small business owner with 100 staff or less?

Protect what you’ve built with our Compliance Academy packages: http://www.learningseat.com.au/compliance-academy-offer/

http://www.learningseat.com.au/

http://www.learningseat.com.au/

http://www.learningseat.com.au/compliance-academy-offer/

The Hidden Costs of Workplace Bullying | Learning Seat

Business

Transcript of The Hidden Costs of Workplace Bullying | Learning Seat