| 1. WEEKLY INSIGHT Today, our world is highly polarised; organisations must tread carefully when taking a stance on societal issues (HBR). It’s a gamble move because what might resonate with one group could potentially isolate another, resulting in adverse effects such as boycotts, negative feedback, and harm to the organisation’s reputation. Over half (52%) of employees are likely to quit their jobs if company values do not align with their own (Blue Bond Consulting). Employees and customers prioritise authenticity and integrity over opportunistic activism. A notable instance involved Woolworths, which faced backlash after choosing to discontinue Australia Day merchandise. This decision, made without consulting their staff, resulted in employees bearing the brunt of customer dissatisfaction.Things took a dire turn; Woolworths saw a 4.47% decline in their share value, accompanied by the announcement of the retirement of their long-serving CEO, Brad Banducci, effective in September 2024 (Reuters). Organisations must ensure that their Corporate Social Responsibility (CSR) initiatives are genuine and not superficial efforts aimed merely at improving their public image. The repercussions of inauthentic CSR endeavours, as evidenced by Woolworths’ experience, can result in more harm than good. |
| 2. HR/IR SNAPSHOT Industry Super Australia (ISA) states that more than $4.7 billion in super contributions go unpaid each year (ABC). Since January 2024, the National Employment Standards (NES) have given employees the right to receive superannuation contributions. Employers who fail to do so may face legal action under the Fair Work Act.Additionally, a new amendment that will take effect on July 1st allows registered organisations, such as unions, to investigate suspected underpayments without the usual 24-hour notice period (in cases where it is necessary for proper wage investigation) |
| 3. TEAM DIARY The Albanese government announced that the federal budget has authorised an additional $40 million of funding for the ATO to target organisations who have failed to pay superannuation to their staff (Australian Government: The Treasury). The stakes are high; timely super contributions are non-negotiable. Failures could cost employers up to $10,500 in fines or worse—up to one year behind bars.Take the guesswork out of managing your payroll with marvinHR. Ensuring compliance through our comprehensive wage audits can unlock up to 5% savings on your total payroll expenses. Please contact Saarrah Mathinthiran, our General Manager (+61 8 6377 7607 | saarrah@marvincg.com ), to schedule your marvinHR wage audit now. |
