- Dynamic Business
- Posts
- 11OCT2021-MON (copy 01)
11OCT2021-MON (copy 01)
Your employees want to upskill: How can you support them?
Monday 11th October 2021
Funding roundup; October 4 – October 8:
EncompaaS secures $14m cap raise for global expansion
Lawpath raises $7.5m
Shopback secures A$55m in Q1’21 funding round
VentureCrowd and Josephmark partner to scale startups
Indian adtech co Profitwheel secures $3m
Your employees want to upskill: How can you support them?
An IBM study also revealed that employees are twelve times more likely to consider moving on when they feel they aren’t developing or achieving career goals. Staff turnover is demoralising for the team; it has a bottom-line impact, as it can cost an average of 33% of a worker’s annual salary to replace them. So how can employers bridge the skills gap to engage employees and boost job satisfaction? id:2021-10-10-06:53:43:863tHere are three areas for consideration.
Aussie businesses are moving away from traditional funding sources
A study by leading SME non-bank lender ScotPac found that Australian SMEs are turning away from traditional funding sources, with the use of new funding routes nearly doubling since 2020.ScotPac’s SME Growth Index is Australia’s longest-running detailed survey of small business growth prospects, polling 1255 small businesses from all states and key industries.The top three reasons SMEs sought new finance sources were to...
Now is the time for businesses to put sustainability back on the agenda
With Scott Morrison scrambling to put together his government’s ‘road to net zero’ plans ahead of the COP26 climate summit at the end of this month, there’s no better time for businesses to rethink their approach to sustainability. Despite the distraction of a global pandemic, some of Australia’s biggest businesses including AGL Energy, Coles, Sydney Airport, and Origin Energy have committed to net-zero targets in the past 12 months, according to the AFR.
Prime Minister Scott Morrison has categorically said that there would be no more adjustments to the GST carve-up. The war of words between New South Wales and Western Australia is heating up over the distribution of GST funds made by the federal government. When asked about the disagreement, Mr Morrison was unequivocal. “There will be no change to the GST,” he told reporters in Canberra.
Weekly payroll jobs and earnings; Over the fortnight ending September 11, 2021, national payroll jobs declined by 0.7%. The AiGroup Performance of Services Index (PSI) rose in September, climbing from 45.6 in August to 45.7 in September. In the first half of September, payroll jobs decreased, with stay-at-home restrictions in Australia’s southeast leading to big job ‘losses’ in both the ACT and Victoria. In fact, Victoria accounted for over three-quarters of all employment losses in the two weeks leading up to September 11, 2021.
The NFF warns exporters that they face the risk of becoming uncompetitive. Shipping costs are rising due to container shortages, restricted ports, and more lucrative routes in the northern hemisphere. There are calls for the government to assist exporters in lowering their sea freight expenses. According to the National Farmers’ Federation (NFF), average freight prices for Australian exporters have increased six times in the last 18 months.
The Transport Workers Union (TWU) has warned that if major Australian transport operators do not agree to secure work arrangements in ongoing enterprise bargaining negotiations, thousands of workers will walk off the job throughout the country. In the following week, StarTrack, FedEx, Toll, Linfox, and BevChain are expected to return to the negotiation table with the union. TWU members from those companies have already voted to strike. According to the union, operators are cutting permanent jobs to deal with the “Amazon effect.”
China isn’t the only major Asian economy in the grip of an energy crisis. Because coal stocks at most of India’s power plants have plunged to critically low levels, the country may face electricity shortages in the coming months. According to a report by India’s Central Electricity Authority (CEA), as many as 63 of the 135 coal-fired power facilities in the region have two days or less of coal supplies. Coal inventories at 17 of them have been depleted to zero, according to the report.
Oil prices extended losses from the previous session on Thursday, as the United States said it was considering selling oil from its strategic reserves and as Russia said it was ready to stabilise the natural gas market.
