The majority of Australian CEOs are cautiously optimistic about the potential for business growth over the coming three years, but not as optimistic as international CEOs, according to the fourth annual Global CEO Outlook, published by KPMG.
At a time when competition is intensifying, new players are constantly entering the market with niche ideas, and customers have access to product and service information at their fingertips, innovation is key to your success.
As a contractor, you’ll often find yourself busy with client work as you head towards the end of the financial year. That’s because your clients want to get their projects completed and paid for so that they can maximise their tax deductions on business expenses.
There’s been plenty of media attention placed on Australia’s big banks lately, with the spotlight on loose lending practices that have seen some consumers lose big money. As a consequence, there’s talk about access to credit tightening up.
Australia’s gig economy is growing, infiltrating the arts and design; media and communications; computer and information technology; construction and extraction; hospitality; and transportation and material moving. This unprecedented growth is being driven by a growing supply of independent contractors and freelancers, alongside businesses that are demanding more flexible access to expertise and resources when and as needed.
“Pleasure in the job puts perfection in the work.” -Aristotle
What do workers want? This is an essential question all employers should ask themselves regularly to ensure that they are fully considering the needs of their employees in how they run their business. What employees crave more than anything in a workplace is to feel valued and appreciated. If they feel happy in what they do, they are much more likely to do it well.
Study after study has revealed the significant impact workplace morale can have on the performance of both the individual and the overall company. Research has proven that if employees feel valued they will be more engaged in their work, leading to improved productivity, higher staff retention and a more positive work environment overall. Goodwill is often reciprocal and if you work to keep your employees happy they will repay you with a greater work ethic which usually means greater profitability. It’s a win-win for all.
In many cases however, employers prioritise succeeding in the company’s mission as their sole target, and staff morale is deemed secondary. Demoralised staff are more inclined to take a disproportionately high number of sick days, dispute with management or flee to another workplace at the first opportunity. As Interactive Home founder Pete Pedone says: “Once you stop showing the love, you lose employees.”
Employees are the lifeblood of any organisation, and it is clear that the impact of employee morale on companies’ performance cannot be underestimated.
Find out how to ensure your worker bees are happy, motivated and productive by checking out our infographic below. Our latest infographic outlines the importance of workplace morale and lists out the indicators of a good and bad workplace environment. It also offers practical tips on how employers or HR managers can ensure a positive, motivated work environment.
In America, the Trump administration is following through on a promised crackdown on illegal immigration.
It’s happening in Australia too. Last year, over 500 illegal foreign workers were either removed from the country, or detained or stopped at the border following a nationwide crackdown on illegal labour-hire syndicates. Two hundred and twenty nine of them were caught working illegally on holiday visas.