Tim Henry from Peoplecorp and Stephen Moir, hosted an interesting discussion group of CFO’s and HRD’s.
Below are some of the key highlights that were discussed.
Overall Business Sentiment
- Overall CFO’s and HR Directors are optimistic about the economic outlook for their businesses.
- There is lots of change and transformation happening in most organisations.
- “War for talent”. This is across multiple types of roles. 20-30% pay increases are common.
- Some turnover of long serving staff. Covid is making people re-appraise things.
ESG (Environmental, Social and Corporate Governance)
- There are examples of HR and Finance partnering together to support the whole business on ESG.
- Communication is key. Eg. communicate to everyone in the business what the company is doing.
- Guiding teams as to ‘why” ESG is important. It is not then seen as a threat to their jobs.
- Younger generations, people in their twenties and thirties are asking “what is our company doing about climate change”? The company needs to have a good answer otherwise these people will leave.
- Overseas head offices are looking to their Australian divisions to be pro-active.
- How to leverage customer data.
- Be clear about what the objective is of bringing an AI tool into the business.
- There is a big education piece in the business.
- AI works if you have good quality data.
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