On 25th June 2025, the Institute of Strategic Risk Management (ISRM) ANZ hosted a global webinar addressing the rising challenge of workplace psychosocial risks. The event brought together risk professionals from Australia, New Zealand, the UK, UAE, India and Sri Lanka to discuss the growing impact of mental health hazards on organisational liability and employee wellbeing.
The webinar moderated by Teresa Riccio-Goodwin F.ISRM, highlighted the urgent need for organisations to treat mental health risks with the same level of seriousness as physical health risks. Paul Vorbach F.ISRM, the Managing Director of AcademyGlobal and ISRM NSW Chapter Chair, opened the session by describing psychosocial risk management as “one of the most significant challenges facing organisations today.”
Rachel King, who is the founding director of ‘Human Risk Management’ and a keynote speaker, delivered a comprehensive presentation explaining the links of workplace stress to a declining organisational performance and the growing legal obligations an organisation will increasingly have to be prepared for in addressing. She revealed that mental health-related workplace claims have increased by 97.3% in the past decade and now make up 10% of serious compensation claims. The World Health Organisation (WHO) estimates that depression and anxiety cause around 12 billion lost working days annually, which adds up to costing around US$1 trillion globally. In Australia, mental ill-health costs businesses up to $39 billion each year.
Rachel outlined legal responsibilities that help company officers in identifying psychosocial hazards, allocating resources and implementing effective risk management. Real-world cases were discussed, including fines and legal actions against organisations for psychosocial safety breaches.
As global regulatory scrutiny intensifies, this ISRM ANZ event offered vital insights for organisations who are committed to protecting their employee’s wellbeing and in strengthening workplace resilience.
