Eudaimonia – September 2018

Great Places to Work

Last Tuesday evening, Stanford Brown was invited to the Great Places to Work awards evening. This is a celebration of some of the best employers in Australia. US tech companies Salesforce, Atlassian and Cisco took the top honours, and we are delighted to announce that Stanford Brown was awarded the 13th best employer to work for in the 35-100 employees category.

As in other industries the employment market for quality financial services professionals is extremely competitive. If we build a culture of excellence that differentiates us from other employers, we can attract and retain the very best staff to deliver heroic customer service to our clients.

To view who else ranked in the top 50 click here.

image

Update: Royal Commission

Round 5 of the Royal Commission wound up on 17 August 2018 after two weeks of hearings with a focus on superannuation. Among the witnesses to take stand were MLC, AustralianSuper, IOOF, HostPlus and Colonial First State. Issues that were raised included fee for no service, using member funds for marketing, questionable methods used to sell superannuation products through bank branches and more. Cuffelinks, a financial services independent publishing house have put together highlights of the direct dialogue to allow readers to make their own judgements. The next round is due to commence on 10 September 2018 with a focus on insurance.

Changes to Domestic Violence Leave Entitlements

As of 1 August 2018, the Fair Work Commission ruled on domestic violence leave entitlements. The amendment will include a new clause requiring employees to provide their employees with up to five days of unpaid family and domestic violence leave per annum for employees experiencing family and domestic violence. Here is an article published by Henry William Lawyers with a great summary of the changes

image

Benefits vs Pay Increases

image

PricewaterhouseCoopers conducted an Employee Financial Wellness Survey, which delves into why employee wellness initiatives matter to an organisation. Many points were raised in the survey including stress pertaining to finances, the impact it has on personal and work life, and programs to combat the financial stress.

A point to be highlighted, is the fact that 20% of employees surveyed would sacrifice a portion of their future pay increases for more physical and mental health initiatives. It confirms the value employees place on benefits in the workplace, particularly those pertaining to health. The good news is that as an employer, benefits relating to physical and mental health can be made available to employees at no extra cost to you.

A voluntary private health insurance plan, gives employees access to discounted insurance premiums, whilst building a pool of wellness funds which can be utilised for onsite flu shots, Health Risk Assessments (HRA), educational seminars and more. To learn more, please reach out to James McFarland at j.mcfarland@stanfordbrown.com.au

Sleepiness Epidemic

image

Lack of sleep has become a worldwide epidemic costing developed nations, including Australia, billions of dollars in lost productivity. The costs aren’t just monetary, but also extend to Australians general health. Dr HIllman, the deputy chair of the Sleep Health Foundation, says “about 35 percent of adults in Australia are not getting the recommended seven hours of sleep each night”. According to the National Geographic, there is further evidence that suggests sleep is essential for maintaining a healthy immune system, body temperature, blood pressure, and reducing one’s risk of developing dementia. Steven Lockley of Brigham and Women’s Hospital in Boston, states that “sleep may be more essential to us than food”.

Sleep Awareness Week falls on 1-7 October this year. It is a fitting opportunity to bring awareness to the workplace on the importance of having a good night’s rest. Initiatives can include running a seminar on sleep and its benefits or having onsite sleep study testing to uncover ways to better sleep.

Millennial Homeowners

The prospect of a millennial living in Sydney and becoming a homeowner in their early 20s, are long gone. However, what can be done to boost their chances? An article published by ABC NEWS highlights 9 ways to boost the chances for millennials to own a home. One of the key points is to maintain a spending diary and to prepare a budget. It’s very hard to control your money if you’re unaware of where it’s going. Preparing a budget will assist with deliberating about where money is spent and more importantly if expenditure is greater than earnings. ASIC has a handy budgeting planner, which can be a useful start to achieving the goal of owning a house.

Employers with a younger employee base will want to ensure that their financial education program’s are addressing the unique difficulties this generation experiences in managing their financial health.

image

Australia’s highest-paying jobs: 2018 vs 2013

image
image

Five years doesn’t seem like a long time, however a lot can change. In 2013, Australia’s mining boom had a clear impact on the highest-paying jobs in Australia, with roles relating to mining, resources and energy taking the top spots. Fast forward five years, and digital transformation is now reshaping the Australian economy, with IT Architects taking the top spot. To see the other listees, visit the SEEK website.

Spotify, circa 2000

image

 

Batgirl’s wage equality was ahead of its time

We hope you’ve enjoyed this edition of Eudaimonia and we’d love to hear your feedback.

James McFarland

Stanford Brown

View More Articles

Join the Stanford Brown Family

Subscribe to our mailing list to receive the latest news and updates from our team.

Successful. Thank you for joining Stanford Brown's mailing list.