02 Dec CORPORATE PROFITS – THE NEXT BATTLEGROUND?; SUSTAINABILITY: COST V INVESTMENT
Welcome to this week’s round up of insights and commentary, brought to you by Team Cannings.
CORPORATE PROFITS – THE NEXT BATTLEGROUND?
While this week’s Australian inflation figures were slightly lower than expected, rising household costs and growing economic uncertainty are putting extra pressure on those companies and sectors that for a whole range of reasons, continue to make what have been described as “galaxy-sized” profits.
In Australia, there is talk about a super profit tax, which should make for some interesting lobbying efforts in Canberra.
And we are not alone.
According to Bloomberg, proposals to rein in corporate profits are gaining traction in the US, especially with the world’s largest economy suffering from high inflation and politicians looking for someone to blame for “price-gouging”.
Bloomberg warns that there are plenty of warning signs out there for businesses and shareholders: record margins are increasingly being seen as evidence of greedy CEOs squeezing middle-class families.
SUSTAINABILITY: COST V INVESTMENT
Most company executives globally still see sustainability as a cost rather than an investment in the future, with only 21 per cent recognising a clear business case for it.
A new report by IT consulting company Capgemini Research Institute surveyed over 2,000 executives and found that 53 per cent believe the cost of pursuing environmental initiatives outweighs the potential benefits.
But while some company leaders remain unconvinced, the report showed that companies that implemented strong environmental initiatives witnessed 83 per cent higher revenue per employee from 2020 to 2021.
DYSLEXIA AT WORK
Employees with dyslexia are being encouraged to make the most of the different ways they think and learn, rather than hide their condition from their boss.
In a piece penned for the Harvard Business Review, Kate Griggs, founder and CEO of the global charity Made By Dyslexia, writes that while dyslexia can make learning to read, spell and memorise facts a challenge, people with the condition usually have above average skills when it comes to communicating, reasoning, and creative problem solving.
Despite this, most people try to hide their dyslexia for fear of being put at a disadvantage at work – a trend Griggs is keen to see reversed so employees with the condition can instead highlight their strengths as great visualisers, problem solvers and negotiators.
OFFICE RETURN SEES COMPLAINTS SPIKE
While companies have pulled out all stops in recent months to get staff back to the office post-pandemic, a new report by consulting giant EY has found the return has triggered a substantial rise in misconduct and bullying complaints.
EY investigated 17 workplace issues in 2022 and received a further 64 misconduct and disciplinary complaints – an increase from 12 and 39 reported last year, respectively.
The jump in reported issues represents a whole new battleground for management, with reports that some staff are struggling to concentrate in open-plan offices while others are simply ignoring the mandatory office days altogether.
AND NOW FOR SOME HOUSEKEEPING NEWS: WE WON!
Cannings Strategic Communications was last night awarded two Golden Target Awards by the Public Relations Institute of Australia (PRIA), for Best Financial Communications campaigns of 2022.
We greatly appreciate the recognition – and the trust and partnership shown to us by our valued clients.
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