Australian Business Confidence 64% - The Eye of the Storm
The latest HR Quarterly Index released by national research hub, the HR Coach Research Institute, reveals quality communication is an emerging issue arising from the confidence crisis amongst Australian employers.
The HR Coach HR Quarterly Index is a national research initiative that provides a new and innovative perspective on pressures within Australian workplaces across industries and Australian States.
The latest findings show that the low level of Employer Confidence is creating downward pressure within organisations as a consequence.
Louise Broekman, Founder of the HR Coach Research Institute, says “Where National Employer Confidence is only 64% the flow on affect internally is now being evidenced in this quarter’s results.”
“Employers in the business sector are the powerhouses of the Australian economy and their lack of confidence and satisfaction in their business strategy is keeping them awake at night. The lack of experience in managing in uncertain times is starting to show – This is evident by the fact that planning for the future and alternatives to redundancies are a low priority.
Employees are concerned for their workplace. This is a positive sign for employers, however, they are more concerned about their personal future. If information is lacking about the future direction of the businesses, employees are seeking alternative methods to find out, leading to informal communication and confusion.”
Results from the research indicate that there is a common frustration in relation to communication. Three key areas of communication will be critical in the coming quarter – providing meaningful information, performance management and risk management.
“Employers need to carefully navigate the next six months,” said Broekman, “employers need support in the articulation of their business direction and expectations for individual performance. With changes to the Industrial Legislation landscape, employers need support more than ever in managing through this period of uncertainty.”
A full copy of the HR Quarterly Index can be downloaded from the HR Coach Website at www.hrcoach.com.au
As the pressure points for business continue to evolve, the HR Coach Research Institute seeks to collate and understand new trends whilst also investigating the impacts of Generation Y on the Australian labour market, international labour trend comparisons, and how industries translate strategy to action.
HR Coach supports a national network of specialists focused on integrating people management into strategic business planning and is continually developing new approaches, products and systems to boost the powerhouse SME sector in Australia.
