WHY COMPANY DIRECTORS ARE GETTING WORRIED; THE GRASS IS GREENER ON THE OTHER SIDE

WHY COMPANY DIRECTORS ARE GETTING WORRIED; THE GRASS IS GREENER ON THE OTHER SIDE

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

HIGH ANXIETY: WHY COMPANY DIRECTORS ARE GETTING WORRIED 

When it comes to how our business leaders feel about the immediate future, the news is mixed, with a new survey confirming that sentiment among Australian company directors has fallen 7.1 points in the first half of 2022.

In fact, many directors say they are feeling increasingly anxious amid global uncertainty, according to the Australian Institute of Company Directors (AICD).  

Labour shortages are (again) the top economic challenge (they concern 60 per cent of those polled), while economic management and climate change remain a concern ahead of next month’s Federal election.

But despite the anxiety, the AICD found directors are still relatively upbeat, with 57 per cent of those surveyed saying Australia’s economic health is strong and will stay that way over the next 12 months.

THE GRASS IS GREENER ON THE OTHER SIDE  

Just out of school and ready for that first job? Go green, young people …

Over 800 million people globally are involved in “green” jobs, according to new data from online employment company LinkedIn.

Renewables or environment sector jobs now account for 13.3 per cent of the global workforce and the market for those roles is growing 12.5 times faster than oil and gas jobs in the United States alone. The fastest-growing green sectors include ecosystem management, environmental policy and pollution prevention.

As companies increasingly adopt new climate policies and commitments, recruiters are on the hunt for people with “green skills” listed on their LinkedIn profiles, and members are gradually adding these skills to their profiles.

STAY TUNED – NETFLIX HAS A CHANGE OF HEART  

Netflix suffered its first subscriber loss in over a decade sending its stock price tumbling 26 per cent on Tuesday and knocking $US40 billion off its market value.

The popular streaming platform blamed the suspension of services in Russia, cost of living pressures and fierce competition for its lagging subscriber growth.

The news prompted Netflix to backflip on its no advertisement stance, with the company’s Co-Chief Executive, Reed Hastings, floating the idea of a lower cost service supported by ads.

It comes just weeks after Disney also announced it was introducing a cheaper service tier supported by advertising for its streaming platform, Disney+.

And just like that, everything that is new is old again.

SAY GOODBYE TO PAPER 

Lygon this week successfully closed its Series A funding round, worth over $12 million.

The company – a Cannings client – was created as a joint venture between Scentre Group, ANZ Bank, CBA, Westpac and IBM to use technology to bring the 200-year-old paper-based bank guarantee process into the digital era.

Justin Amos, the Chief Executive Officer, spoke to The Australian Financial Review about the company’s growth and its plans to ramp up resources, both domestically and internationally, to support the overwhelming market demand.


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