In today’s business landscape, CFOs are expected to go beyond financial stewardship. They play a critical role in driving strategic initiatives that improve organisational resilience, enhance performance, and align with Environmental, Social, and Governance (ESG) objectives. One often-overlooked strategy that meets all three of these imperatives is the implementation of a Wellbeing Ambassador Program.
Here’s why investing in wellbeing makes strong financial and strategic sense, and how CFOs can lead the charge.
Workplace Wellbeing Is a Strategic Investment
Workplace mental health is no longer just an HR concern. Mental ill-health costs Australian businesses billions each year through absenteeism, presenteeism, staff turnover, and lost productivity. According to PwC, every dollar invested in effective mental health programs returns an average of $2.30.
CFOs looking to strengthen the bottom line while meeting ESG and governance targets are increasingly turning to structured wellbeing programs. These initiatives not only reduce risk but also improve employee performance, retention, and morale, key drivers of long-term financial sustainability.
What is a Wellbeing Ambassador Program?
A Wellbeing Ambassador Program identifies and supports peer-nominated or Mental Health First Aid (MHFA)-trained employees to become champions of mental health and wellbeing across the business.
These ambassadors:
- Lead wellbeing conversations and initiatives
- Provide peer support and early intervention
- Promote awareness of psychosocial risks
- Reinforce a culture of psychological safety
Unlike one-off training or campaigns, an ambassador program is ongoing and structured, offering clear monthly themes, toolkits, and leadership development opportunities that build momentum over time.
The Business Case for CFOs
Here’s why CFOs should pay attention:
- Retention of MHFA-Trained Employees: MHFA-trained staff are a significant investment. Without follow-up or leadership pathways, these employees often feel underutilised or unsupported. A Wellbeing Ambassador Program ensures your trained people are actively engaged and delivering ROI.
- Reduced Risk of Psychosocial Hazards: The legal and reputational risks tied to unmanaged psychosocial hazards like burnout, stress, or bullying are growing. Peer-led programs provide early visibility and intervention, helping the business proactively meet health and safety obligations under legislation like ISO 45003.
- Progress Toward MHFA Skilled Workplace Recognition: The program can support your organisation’s pathway to Mental Health First Aid’s Skilled Workplace Recognition by embedding continued development, peer leadership, and strategic wellbeing planning.
- ESG Alignment and Sustainability-Linked Funding: Investors and lenders increasingly assess ESG performance including employee wellbeing. Structured mental health initiatives can serve as measurable KPIs in sustainability-linked loans (SLLs), offering better terms and reputational benefits.
A Cost-Effective Framework with Long-Term Payoff
Unlike ad-hoc wellbeing spend, a Wellbeing Ambassador Program offers a centralised, scalable structure. It supports strategic planning and year-round engagement with minimal administrative lift.
For CFOs evaluating initiatives on long-term value, this program offers clear benefits:
- Lower absenteeism and presenteeism
- Higher engagement and retention
- Compliance support for health and safety
- Improved data and reporting for ESG disclosure
When implemented correctly, it’s not just a wellness initiative, it’s a business performance strategy. CFOs are uniquely positioned to influence workplace wellbeing, not just through budgeting, but through strategic decision-making.
Supporting a Wellbeing Ambassador Program is an opportunity to:
- Protect your people
- Reduce risk
- Strengthen culture
- Unlock capital opportunities linked to ESG
It’s a smart move that pays off in both impact and financial terms.
Learn how our Wellbeing Ambassador Program can support your business goals.
