08 Oct AGM SEASON: TONE DEAF REMUNERATION WILL BE PUNISHED; HOW YOUR EMPLOYEES REALLY FEEL ABOUT WORKING FROM HOME; 2020 BUDGET
AGM SEASON: TONE DEAF REMUNERATION WILL BE PUNISHED
- As the 2020 annual general meeting season kicks off this week, companies could face a strike against their remuneration reports if they fail to read the room and consider how remuneration is perceived externally, particularly if profits have been propped up by JobKeeper.
- Proxy advisers and institutional shareholders have already claimed their first major win on boardroom pay for this year’s AGM season, with Origin Energy withdrawing a $1.6m equity grant to chief executive Frank Calabria. Origin’s move to acknowledge “shareholder reservations” comes as AGL Energy suffered its first strike over its executive pay structure.
HOW YOUR EMPLOYEES REALLY FEEL ABOUT WORKING FROM HOME
- Despite the challenges posed by remote working, nearly seven in 10 Australian workers say their job satisfaction and work-life balance has improved since the shift to remote work, according to a global study by Atlassian. However, there is concern about recognition and career progression, and 75 per cent of Australians miss the energy of the office, compared to 50 per cent of workers globally. Read all the findings in The AFR.
- The Morrison Government’s budget has been given the thumbs up by Australia’s business community, who are pleased with the focus on skills, wage subsidies for apprentices and unemployed young Australians, plus large commitments to infrastructure investment.
- Investors have also welcomed the highly stimulatory federal budget with the local sharemarket surging to its highest level in almost five weeks. Morgan Stanley equity strategist Chris Nicol said the budget marked a transition from “crisis support to growth recovery” and a “clear focus on business incentives makes this a market friendly event”.
- Cannings’ sister company, government relations firm Barton Deakin, analyses the major funding and policy announcements across key Government portfolios. Read it here.
WHY WE NEED TO LAUGH AT WORK
- Work is a serious matter but it cannot be taken seriously all the time. Bartebly from The Economist explores how and why humour is used in the workplace, from it acting as a source of comfort at work, to being the only healthy reaction to setbacks or irrational commands from the boss. One thing is certain, one of the biggest downsides of remote working is that moments of shared humour are harder to create.
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