Driving productivity from the top
The Australian Institute of Company Directors have just released their report Driving productivity from the top. They partnered with KPMG to survey Australian directors and governance leaders and found that:
- Australian business is frustrated with the political situation. Directors feel that a lack of political courage is the key inhibitor of long-term productivity reform initiatives.
- Training and skills development could ‘turn-the-dial’ on productivity and requires a renewed focus and investment. Directors believe that this is the responsibility of management.
- Engaging in public debate on issues affecting productivity and implementing better practices in their own businesses are seen as the most important activities directors can undertake to influence public policy and champion reform.
- Directors acknowledge that the business sector has a clear role to play in driving productivity reform in Australia, although most tend to believe it requires a combined approach between the public and private sectors.
- Half of respondents believe the social contract between corporate Australia and Australian society needs to be renegotiated.
- There is a clear recognition from directors that businesses must play a role in supporting social cohesion.
The report can be found here.