Converge International

On October 21, 2009 news.com.au published an article regarding ‘the impact of the financial crisis on business’ quoting Dr Lindsay McMillan, CEO - Converge International.  This article has been posted below for reference.

In times of crisis, employers need to know what to do to protect their staff and business if they’re to remain in the game.

Human resources consultancy Converge International chief executive Dr Lindsay McMillan said employers needed to respond swiftly to a crisis. “Whether it is a critical incident within the company or a flood, storm or shooting that’s affecting their staff, employers can no longer turn a blind eye,” he said.

To read more, click here.

It is amazing what a crisis can do!  It can bring people together; tear them apart; get them to focus on ‘things’ that matter; and bring out creativity and innovation in ways not previously envisaged. Churchill, during the war noted that the crisis of that time was the best and worst event that happened to Britain.  Everyone was prepared to help fight a common enemy!  More people went to Church; more focus was given to the reality of life; there was less crime; and people worked for very little because of the ultimate goal. This current financial crisis has similar tones.  Obama’s inaugural speech certainly rallied the interests of the world around a new era of hard work, prosperity and the need for new ways to solve past problems. In business today, (more…)

Our latest Research has revealed there is a 54% increase in stress-related counselling since December 2007. The sharp rise in stress has coincided with rising interest rates, plummeting share markets and the global financial crisis.

The Medibank Private commissioned research indicates that stress costs Australian business more than $10 billion annually. This sharp rise in stress counselling has significant implications for Australian businesses.

The chart below tracks the change in the Converge International Business Mental Health Index (CIBMHI)* against the ASX / S&P 200 Index. The CIBMHI exhibited no long term change during the growth phase of the ASX / S&P 200 Index. With a small time lag, the CIBMHI began its upward trajectory in line with the declining share market.

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As another year comes to a close, it prompts me to reflect on the past year and in particular the events of the last few months and the impact they’ve had on stress levels across the country.

Many Australians are finding that the financial crisis has overwhelmed their coping resources and are turning to employee support services to find a way to deal with the stress.  The speed of the increased number of requests for support has been startling.  Specialising in organisational health, our research here at Converge International has revealed a 54% increase in stress-related counselling since December 2007.  This sharp rise has directly coincided with the economic climate of rising interest rates, plummeting share markets and the global financial crisis. (more…)