
07 Jun ECONOMIC VIBES; ASX’S MORE STRINGENT DIVERSITY DISCLOSURE REQUIREMENTS
ECONOMIC VIBES
Plenty of economists, including KPMG’s Brendan Rynne, are warning Australia is a “heartbeat away from being in a recession” after the latest GDP figures showed economic growth was a meagre 0.1 per cent in the first three months of this year.
Treasurer Jim Chalmers is playing down the prospect of a recession, insisting Australia is faring better than many other developed economies and that the cost-of-living measures in last month’s Budget will keep the economy ticking along.
Time will tell who’s right – the economists or Dr Chalmers. In the meantime, consider what’s going on in the US, where commentators say there’s the “vibe” of a recession because Americans feel gloomy about the economy despite low unemployment, slowing inflation and the stock market rising. “Call it the vibecession,” New York Times columnist Jeanna Smialek wrote.
ASX’S MORE STRINGENT DIVERSITY DISCLOSURE REQUIREMENTS
New updates to the principles of ASX companies could mean company directors are required to report on their diversity beyond gender.
According to The Australian Financial Review, the proposed initiative would require directors to disclose their sexuality, age, Indigenous heritage and disabilities.
The announcement has received mixed reviews. Governance Institute chair Pauline Vamos argued that smaller companies may even start to consider their listed status due to the arduous process. Isn’t it about time, however, that we “walked the walk” when it comes to diversity?
ARE MEDICAL CERTIFICATES WHAT THE DOCTOR ORDERED?
Dr. Max Mollenkopf did not sign up to study medicine to hand out medical certificates for work. According to ABC News, large corporations are increasingly asking employees for medical certificates, even for short sick leave periods, causing unnecessary costs and hassle for health workers.
Mollenkopf estimates that he sees two or three patients each day who require medical certificates, taking time away time from genuinely ill patients.
Perhaps we all need to follow in Amantha Imber’s footsteps, who fosters a “trust-based” system with her team and believes “if they’re saying they’re sick, they’re sick.”
Feel free to share these updates with colleagues or friends. They can sign up here to receive our daily newsletter.