Need to talk to someone?

Month: July 2023

  • Investing in Mental Health: The Link Between to Productivity and Profitability

    Poor mental health of staff costs companies and the country financially.

    Companies must prioritize the mental well-being of their employees to avoid the substantial costs associated with mental health conditions. Professor Renata Schoeman emphasizes that productivity targets should not come at the expense of investment in mental health. While some companies are taking steps in the right direction, many still fail to prioritize employee well-being. Leaders should set an example, create a healthy culture, provide support services, and ensure a work-life balance to support mental well-being in the workplace.

    Poor Mental Health Affects Our Economy

    According to the Mental State of the World report, South Africa has the lowest average mental well-being score among 34 countries. The economy loses about R161 billion annually due to mental health conditions. This includes lost work days, presenteeism, and premature mortality. Companies must invest more in the mental well-being of their employees to mitigate these costs. Many companies still prioritize productivity over mental health, but research shows that mentally well employees are more productive and happier at work. Companies that prioritize mental health have leaders who exemplify self-care, create a healthy culture, and provide support services. They also invest in education and resilience training and ensure a smooth reintegration process for employees returning from a mental health-related absence.

    Companies Must Begin to Invest in the Mental Health of their Staff

    South Africa’s low average mental well-being score highlights the urgent need for companies to invest in the mental health of their employees. While some companies are taking steps to prioritize mental well-being, many still fail to do so. Prioritizing mental health benefits both employees and the company, leading to higher productivity, creativity, and retention rates. To support mental health, companies should have leaders who prioritize their own mental well-being, create a healthy culture, provide support services, and establish a work-life balance. The hybrid working model presents unique challenges, and companies should ensure that methods for supporting mental health extend to all employees, whether they work from home or in the office.

    To read the original article from MoneyWeb click here.

  • Rethinking Strategies to Combat Unemployment: The Key Steps South Africa Must Take, Including AI.

    Rethinking Strategies to Combat Unemployment: The Key Steps South Africa Must Take Including AI

    South Africa has been grappling with high unemployment rates for years, and traditional approaches to address this issue have had limited success. In order to effectively combat unemployment, innovative and multifaceted strategies are needed. This article explores the key steps that need to be taken, including reevaluating the education system, leveraging artificial intelligence (AI), fostering problem-solving skills, increasing AI knowledge across disciplines, bridging the digital divide, promoting entrepreneurship and SMMEs, capitalizing on the digital economy, increasing research and development (R&D) expenditure, and establishing private-public partnerships.

    Key Points to Combat Unemployment

    • The education system needs to align with market demands and integrate AI skills into the curriculum for better employability.
    • Fostering a problem-solving mindset and emphasizing practical experience through project-based learning is crucial.
    • AI literacy should be fostered across all disciplines, not just computer science, to expand employment opportunities in various industries.
    • Bridging the digital divide through investments in digital infrastructure and programs for digital literacy is essential for equal access to AI education and employment opportunities.
    • Promoting entrepreneurship and SMMEs growth requires accessible financing, mentorship, capacity development, and a favorable regulatory environment.
    • South Africa can capitalize on the digital economy through initiatives that promote digital literacy, e-commerce, digital entrepreneurship, and the growth of digital industries.
    • Increasing R&D expenditure stimulates innovation, job creation, and skills development in the short and long term.
    • Private-public partnerships can assist in skills development, entrepreneurship, and infrastructure development to combat unemployment.
    • Employment policies should be restructured to balance worker rights and job creation, and active labor market policies can facilitate the integration of disadvantaged groups.

    Conclusion

    In order to eradicate unemployment, South Africa needs to adopt a comprehensive approach that rethinks education, leverages AI and digital opportunities, promotes entrepreneurship, increases R&D expenditure, and establishes partnerships between the public and private sectors. By implementing these strategies, South Africa can create a fair and inclusive job market that provides opportunities for all its citizens.

    You can access the original article that inspired this blog post here.