24 Jun THREE IS THE MAGIC NUMBER; GREENWASHING – YOUR INVESTORS WON’T THANK YOU
Welcome to this week’s business and media intelligence update.
THREE IS THE MAGIC NUMBER
Businesses are in a bit of a bind over whether to be a bit more generous when it comes to wage rises.
On the one hand, the Reserve Bank governor Phillip Lowe says he’s keen on wage rises having a three at the front, warning that rises any higher could start a wage price spiral, forcing interest rates and unemployment higher.
The Albanese Government appears to accept Mr Lowe’s advice despite having campaigned for a 5.1 per cent rise in the minimum wage recently.
On the other hand, unions are pushing back, demanding between four and five per cent wage rises to help combat increasing costs of living.
Some employers are aiming even higher. Australia’s largest pub owner, Endeavour Group, has brought forward pay rises of between 4.6 per cent and 5.2 per cent for its 15,000 workers to alleviate staff shortages.
GREENWASHING – YOUR INVESTORS WON’T THANK YOU
ASX-listed companies must provide detailed reports about their plans on climate change and sustainability if they want shareholder support.
A new report by Boston Consulting Group found that the number of announcements on climate change efforts by the 50 largest listed companies in Australia has risen by 1,000 per cent over four years. But not all the announcements have garnered a positive market reaction.
According to the management consultants, for a company to get shareholders onside, it must avoid announcements that could be seen as “greenwashing” and provide detailed, tangible evidence of how their commitments around climate change will create a competitive edge.
ZOOMING OUT
In the early days of the COVID-19 pandemic, many of us made the effort to upgrade our remote work setup (ring lights, anyone?), and elevate our video backgrounds. Some (not us!), even went as far as paying literary experts to curate their bookshelves.
But fewer workers are aiming for that elusive 10 out of 10 video background score, according to Claude Tylor, the co-creator of the Twitter account, Room Rater.
The uncertainty around future work conditions has made it difficult for people to splash out on a permanent remote work setup.
So, expect to see more unforgiving camera angles, blank walls and last night’s take-away containers in your virtual meetings.
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