LABOUR HOARDING – IT’S A THING; ESG IS STAYING TOP OF MIND

LABOUR HOARDING – IT’S A THING; ESG IS STAYING TOP OF MIND

Welcome to this week’s business and media intelligence update.

LABOUR HOARDING – IT’S A THING 

While many of us long for overseas travel to resume so we can take that much needed trip to Paris, New York or Bali, company executives have another reason to hope for internal borders to reopen as soon as possible: they need workers.

Companies operating in the hospitality sector have been the most affected by continuing labour shortages due in large part, to border closures. The limited supply of chefs, front of house staff and cleaners has led a new phenomenon among major players in the sector – labour “hoarding”, where companies are reluctant to stand down employees, even when there isn’t much for them to do because of lockdown restrictions.

Companies believe that despite the costs involved, “hoarding” staff will give them an advantage when we all go back to near normal later this year, or early in 2022.

Read more here.  

VACCINE MANDATES SURGE FOR JOB HUNTERS  

The number of job advertisements requiring potential new recruits to be full vaccinated have exponentially grown in the past few months.  

New data from Purpose Bureau reveals that the number of employers mandating vaccinations against COVID-19 among applicants has increased by a staggering 1,229 per cent since May. Even in the past three weeks alone, the number increased three-fold.

Healthcare companies are leading this surge, followed by administrative and financial services organisations.

Read more here.  

ESG IS STAYING TOP OF MIND 

According to new data from KPMG, ESG issues are dominating the minds of many corporate leaders.

KPMG surveyed over 1,300 CEOs across 12 countries and found that 36 per cent of Australian executives admit that they are struggling to articulate a compelling and clear ESG narrative to their stakeholders. The survey also revealed 70 per cent of Australian CEOs are experiencing greater demand by investors and regulators for ESG reporting and transparency.

This year, many companies are specifically focusing on the E in ESG with corporate net zero emission commitments on trend to reach record levels. So far, 34 companies in the ASX 300 have committed to net zero emissions with a third of Australia’s top 200 corporations now committed to this target.

Read the KPMG survey here.

IT’S THAT TIME OF THE YEAR. AGM TIME.  

The 2021 AGM season is fast approaching. With the additional challenges the pandemic places on AGM logistics, it is more important than ever to commence planning as early as possible.

To assist with the planning process and to ensure you meet best practice benchmarks, Cannings have prepared an AGM checklist accessible here. 


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