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Given current world events, there’s been a huge surge in interest around working from home — so, is taking such a stance a hassle? Or good for our health?

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A change to the location of work is just one example of a flexible working arrangement, according to the Fair Work Ombudsman. 

Normally, if an employee has worked with the same employer for at least 12 months, and they fulfil any number of prescribed categories, they can request to enter a flexible working arrangement that can’t be knocked back by their employer unless it’s for “reasonable business grounds”.

In 2020, a lot of employers are automatically offering flexible work benefits as part of their employment packages, while others are implementing work-from-home practices and policies in an effort to combat potential COVID-19 infections and proactively practice social distancing.

According to an evidence summary on social distancing, from Evidence compendium and advice on social distancing and other related measures for response to an influenza pandemic found through the Australian government’s Department of Health website, workplace-related interventions like work closure and working from home are “modestly effective”, as well as being acceptable or even popular among employees. 

“Working from home is potentially moderately effective in reducing transmission of influenza.”

It cited a Japanese study which saw a workplace policy of being able to remain at home on full pay reduced the overall risk of infection during the 2009 influenza pandemic by about 20 per cent.

It also noted a US study that concluded teleworking when a family member is affected may reduce the risk of acquisition of severe influenza symptoms among employees by about 30 per cent.

If you do work from home, you need to ensure you aren’t compromising your ability to carry out your work safely.

Here are some tips to stay healthy from home:

1. Make sure you have a dedicated work space

Your home work location should be a suitable physical environment with adequate furniture, equipment and lighting. Use a suitable chair, and make sure you have a desk space that is both big enough and at an appropriate height.

2. Get rid of the clutter

Clutter can be as distracting as it can be dangerous. Keep pets in other rooms or outside, and make sure you aren’t going to trip on electrical cords or belongings.

3. Structure your day

Just because you are at home doesn’t mean your routine needs to go out the window! Structure your day as you normally would — don’t keep jumping up and down to get snacks or a coffee just because you want to take a look at the pantry — unless you do this on a normal day at work!

4. Keep up the contact

Chances are, your colleagues are feeling the same way about working from home as you are!

Everyone needs a vent, and just because you aren’t physically seeing them in the office doesn’t mean you can’t still keep up the water-cooler talk!

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Given current world events, there’s been a huge surge in interest around working from home — so, is taking such a stance a hassle? Or good for our health?

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There’s no universally accepted definition as to who fits the bill as a “high net worth” individual, especially in Australia.

Write comment (0 Comments) " ["fulltext"]=> string(1952) "

A new white paper from Netwealth has considered the question in an attempt to piece together an answer to “who are the high-net-worth individuals?”

A number of sources do define a high-net-worth individual as an investor with more than $US1 million in liquid financial (or net investable) assets — excluding their primary residence, collectibles and consumables — but Netwealth has conceded “there is no universally accepted definition among Australian advice firms”.

Highlighting a number of different firms as holding different perspectives on the topic, the report commented that “perhaps the only common agreement among firms is that high-net-worth clients have investable assets at least in the millions rather [than] hundreds of thousands of dollars”.

Despite there being “only a partial consensus among financial advice professionals as to who, exactly, the high-net-worth individuals are”, Netwealth has reported that Australia now boasts around 266,000 high-net-worth individuals or HNWIs.

Together, this demographic controls around $2 trillion in investable assets.

Due to the lack of a core definition, it also becomes difficult “to generalise about what a typical high-net-worth individual is like in terms of their personality or their demographic, capital or geographic profile”, the report continued.

“Most wealth managers would likely attest that their high-net-worth clients are diverse with regard to their personal and social characteristics. HNWIs come in a range of ages, sexes, ethnicities and lifestyles.”

For one individual interviewed for the report, high-net-worth individuals mostly behave like other people, just with “bigger bank balances”.

“They are very much like the average Australian, but probably are more likely to have bigger houses, better cars and holiday more,” said William Buck’s Adrian Frinsdorf.

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There’s no universally accepted definition as to who fits the bill as a “high net worth” individual, especially in Australia.

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Over 2.7 million Australians are tipped to lose their jobs from automation over the next 15 years as Australian workers feel the impact of emerging technology, industry experts have found.

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According to a joint study by the ACS and Faethm of the 2.7 million Australians who lose their jobs, 400,000 face structural unemployment as they are unable to adapt to changing job requirements.

ACS CEO Andrew Johnson said: “The outcomes tabled in our Technology Impacts on the Australian Workforce report provide deep insights for businesses to inform future workforce development plans, as well as for policymakers to maximise the participation rate of all citizens in the opportunities afforded by the Fourth Industrial Revolution.”

The 1,511 job families defined in Faethm’s modelling cover 244 attributes such as abilities, knowledge, skills matched with human abilities defined by over 20,000 job tasks to create a matrix measuring each industry’s exposure to automation.

Of the industries examined, Admin and Support Services has the highest automation rate; Information, Media and Telecommunications is the sector most augmentable by technology; Health Care and Social Assistance is the industry with the highest job growth rate; and Finance and Insurance Services has the highest proportion of new technology jobs.

The impact on the genders will not be equal, with 63,000 females in the financial sector forecast as opposed to 45,000 men.

While 100,000 women in the profession, scientific and technical services stand to be impacted, compared with 84,000 men.

However, in good news for the nation’s workforce, 5.6 million are likely to benefit from new jobs created through emerging technologies across industries.

Not surprisingly, Australia’s growing technology sector is tipped to generate 1.4 million new jobs over the next 15 years.

This will create a shortfall in the Australian economy which will need to bring in 700,000 people to maintain a GDP growth rate of 3.2 per cent.

“The ACS is calling for a macro, cross policy approach to be adopted by government to ease the impact on the workforce and address any resulting skills shortages,” Mr Johnson concluded.

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Over 2.7 million Australians are tipped to lose their jobs from automation over the next 15 years as Australian workers feel the impact of emerging technology, industry experts have found.

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A new job sharing arrangement promises to increase employment opportunities that will boost opportunities for women, according to a study.

Write comment (0 Comments) " ["fulltext"]=> string(2700) "

In celebration of International Women’s Day on 8 March 2020, nestegg is celebrating all things equality and the importance of recognising and realising women’s rights through a financial lens.  

As of last year, 12 CEOs in the ASX 200 were women and less than 30 per cent of board directors were women.

Results released by the University of New South Wales could help reduce the gender gap in executive roles, suggested Professor Rosalind Dixon.

“We need this type of job sharing to unlock leadership potential by allowing for a more flexible division of responsibility and working hours between professionals at different stages of their careers, and which can be used alone or in combination with other, traditional modes.”

For example, these models encourage men near the end of their careers or looking to reduce their hours to engage in job sharing not only as a means of promoting their own wellbeing, but also as a means of fostering knowledge sharing and gender equality within their own organisation and society more broadly. This can help bring more women into senior roles.

These non-traditional job-sharing arrangements are proposed as a complementary tool in the “flexible work” toolkit. The report finds non-traditional job sharing can set men and women on the pathway to career advancement without sacrifice to family responsibilities, as well as bridging the gap between the increasingly pronounced problems of underemployment and overemployment.

Report lead author and UNSW Professor Rosalind Dixon said: “We are proposing these new models after testing them in the workplace. They are not conventional job-sharing arrangements, but the results show great promise to meet the changing needs of both employers and workers of the future.”

As part of the research, UNSW Sydney conducted two trials that involved each of the three new job share models over several months in the latter half of 2019. Both trials were also subject to a formal evaluation, as part of the research for this report and for internal UNSW purposes. This evaluation concluded both trials a success, offering important benefits for both the university as employer and all participants, the study concluded. 

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A new job sharing arrangement promises to increase employment opportunities that will boost opportunities for women, according to a study.

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Changing the status quo on conventional job models could be the key to increasing employment opportunities, enhance productivity and be more appealing to workers, suggests an industry study.

Write comment (0 Comments) " ["fulltext"]=> string(4510) "

According to research released by the University of New South Wales professor Rosalind Dixon, changing job models can also enhance women’s opportunities.

They reimagine traditional, horizontal job-sharing arrangements where work passes from one person to another based on a traditional division of working days.

“We need this type of job sharing to unlock leadership potential by allowing for a more flexible division of responsibility and working hours between professionals at different stages of their careers, and which can be used alone or in combination with other, traditional modes,” Professor Dixon said.

The professor believes changing the job models encourages older workers to reduce hours and engage in job sharing, enhancing career prospects of juniors while improving work/life balance for the senior executive.

The report finds non-traditional job sharing can set men and women on the pathway to career advancement without sacrifice to family responsibilities, as well as bridging the gap between the increasingly pronounced problems of underemployment and overemployment.

The study highlighted not only job sharing but the importance of flexible work to encourage quality staff to remain in a role.

Professor Dixon said the growing demand for flexibility and reduced hours also corresponds with evidence of a “work hours mismatch” between the work-hour preferences of many employees and the hours they actually work, and the success of job sharing is constrained by the scarcity of eligible participants — or the number of people seeking to work flexibly with similar skills and experience — and compatible schedules or flexibility demands.

“The need to retain valuable employees, especially those with non-work responsibilities such as caring for families, has compelled employers to introduce workplace arrangements that can accommodate different needs and attract skilled employees, and these models help overcome these challenges,” Professor Dixon said.

However, the UNSW modelling comes at a cost to businesses, with the results showing a 20 per cent increase in costs during the trial.

“This additional cost can be justified by looking to the way that access to flexible working opportunities can reduce the costs of lost productivity and overwork, low retention rates and high turnover,” she said.

“One important response to this is for employers to invest more heavily in advertising job-sharing opportunities, and ‘matching’ those interested in this kind of flexible work arrangement. The good news is that a number of commercial and government providers are currently rising to meet this demand by establishing online matching and job hunting services for interested participants.”

Three models UNSW advocates

Intergenerational sharing

Sharing between employees at different stages of their career to form a partnership between a senior and mid-career professional. This enables the senior partner to reduce their workload and for the junior partner to develop their skills and experience.

Flexible time-based sharing

Allocation of working hours in the job-sharing arrangement according to the circumstances of the partnership, not based on a traditional division of working days, with the hours ranging from 20 to 80 per cent to 50-50 per cent split. This provides both partners with more flexibility than a fixed calendar-based model.

Vertical sharing

Division of responsibility for the overall relationship resting with one “senior” job share partner. As opposed to a more traditional “horizontal” model of dividing responsibilities, certain “senior” decision-making is vested in one partner.

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Changing the status quo on conventional job models could be the key to increasing employment opportunities, enhance productivity and be more appealing to workers, suggests an industry study.

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Employees in the insurance and superannuation sector are cashing in on the ever-growing industry, with new research revealing them to be the biggest winners when it comes to income over the last 12 months.

Write comment (0 Comments) " ["fulltext"]=> string(1658) "

Seek has released its latest employment report, which showed workers in the insurance and superannuation sector had the greatest amount of average advertised salary growth year-on-year, at 6.1 per cent.

This is far higher than the 1.7 per cent increase averaged out across all advertised salaries Australia-wide and regardless of industry – at an average of $88,746.

Government and defence workers also saw a 6.1 per cent advertised increase to salaries, while the mining, resources and energy sector also saw a sizeable boost at 4.9 per cent.

Breaking it down more generally state-by-state, Seek found that salaries grew across every Australian state and territory except for the Northern Territory.

Tasmania led the charge – with a 5.1 per cent growth in advertised salaries recorded – that also brought its average salary up to $79,951.

South Australia also saw stronger-than-average growth – with a 3.8 per cent 12-month boost enabling the average advertised salary to hit $83,103.

In third place, the ACT saw advertised incomes up 2.9 per cent.

It posted the highest average salary across all states and territories – at $90,900.

NSW job posts were just behind, with the average job salary advertised at $90,875 – an increase of 1.7 per cent.

As the only region reporting negative growth, advertised salaries in the Northern Territory were down -0.5 per cent.

Despite this, the territory was far from offering positions with low incomes, with an average advertised salary still sitting at $87,287.

 

 

 

 

 

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Employees in the insurance and superannuation sector are cashing in on the ever-growing industry, with new research revealing them to be the biggest winners when it comes to income over the last 12 months.

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