Responsible investing, from both an economic and social perspective, is much more closely linked to health and safety than a lot of people realise.
In a recent discussion with WorkSafe chief executive, Nicole Rosie, the Governor of the Reserve Bank, Adrian Orr, talked frankly about the importance of business managers, owners and investors being more involved with the day-to-day management of the business than just its bottom line.
“If the shareholder is highly divorced from the business itself, then it’s very hard to have the concern, culture and responsible investment pieces that you really respect reflected in your business,” says Orr as he emphasises the importance of owners and investors being aware of what is happening in their businesses from not just a financial, but also from a health and safety perspective.
He uses the example of a traditional owner-operated pub to explain how being closer to your staff and customers will always produce better results.
“It wouldn’t matter if you sat on an empty beer crate, you’re going to have great service, and you’ll have a community conversation. That’s very different to a minimum wage, 30 percent turnover, multimillion-dollar pub.”
With previous experience working with high risk businesses as well as managing the world-renowned New Zealand Super Fund, Orr sees well-being at the core of any business
“I’ve spent many years on different labour forces and in different roles. And I’d have to say well-being is really the reason we go to work. Why would you go to work if it wasn’t to try and enhance the well-being of the individual?”
The full discussion is available on WorkSafe’s website. It’s part of the Insights series which is designed to get business leaders talking about health and safety and will be a regular source of information and thought leadership for businesses, workers and health and safety professionals.