If you have ever experienced conflict, you will know that there is a huge emotional and financial burden involved. Taking into account the stress alone, diminishes productivity and takes a toll on individuals personally both physically and emotionally.
It is difficult to accurately put a dollar figure on what it costs a business when conflict and grievances are not addressed early and can result in a reduction in work output, lack of motivation, disengagement, resentment and ultimately absenteeism and loss of talent as some decide to leave. The longer the conflict continues without intervention, the higher the price all pay and the more difficult it is to resolve.
Not only are wages, productivity and wellbeing impacted, but there is a flow on effect that carries through to teams, divisions, organisational culture and reputation which can all be tarnished by workplace issues.
With an 80% mediation success rate, early intervention can stop the negative aspects of conflict to spiral before it gets to crisis point and spills over, costing businesses $000’s. The investment of around $2,000-$4,000 can help create good, productive work environments by providing a proven process to build sustainable relationships and better ways of working together.