PSYCHOSOCIAL HAZARDS IN THE REAL ESTATE AND PROPERTY MANAGEMENT INDUSTRY

In December 2022, our Western Australian WHS Regulations (2022) were amended to encompass the release of the Code of Practice for the Management of Psychosocial Hazards in the Workplace. Psychosocial hazards have the potential to cause psychological and/or physical harm to workers and should be eliminated or minimised so far as is reasonably practicable.

Some of the factors contributing to psychosocial risk within your industry include:

  • High-pressure and demanding work environment
  • Long working hours and irregular schedules
  • Handling complex and emotional client situations
  • Competition and performance-driven culture
  • Interpersonal conflicts among staff and clients

The implications of psychosocial hazards on workers in the real estate and property management industry in Western Australia can be significant and far-reaching. The demanding and high-pressure nature of the industry, combined with the unique challenges faced by property managers, can exacerbate the impact of psychosocial hazards. Some of the implications include:

  • Increased stress and burnout among staff
  • Reduced quality of decision making
  • Decreased job satisfaction and engagement
  • Elevated risk of mental health issues
  • Reduced productivity and efficiency
  • Higher turnover rates and difficulty in retaining skilled employees.

To address these implications, employers in the real estate and property management industry in Western Australia should prioritize the well-being of their employees by implementing supportive policies, providing access to mental health resources, promoting work-life balance, and fostering a positive and inclusive work culture. Furthermore, training and educating employees and managers on identifying and managing psychosocial hazards and encouraging open communication and feedback channels are great avenues to prevent and manage risk. By proactively managing psychosocial hazards, companies can improve employee satisfaction, retention, and overall performance, contributing to a healthier and more successful industry.

Written By Michelle Strother – Work Health & Safety Practiioner

CCIWA, Business Law WA and REEFWA has taken all reasonable care in preparing this document. The contents of this document do not constitute legal advice and should not be relied upon as such. Specific advice for your situation should be sought from CCIWA, Business Law WA or a professional adviser before any action is taken. Neither REEFWA, CCIWA nor Business Law WA accept responsibility for any claim that arises from any person acting or refraining from acting on the information contained in this document.

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