The Next Frontier

June is often an inflection point in the AusCorp diary. With companies shoring up their FY24 plans, staff are now being notified of their pay bumps whilst select others are being made redundant. Naturally, along with the PwC saga, the market is a bit unsettled right now but it will eventually chill out a bit.

In other news…

• we successfully hosted our first ever in-person event at Taylor’s Rooftop Bar in Sydney (with over 200+ tickets sold)! We’re thinking of bigger and better events so keep your eyes peeled!
  

• we’re also launching our Partner/MD Insights Survey which many of you have been keen about. This will help shed some light into the ladder climbing process for the younger gen of AusCorp. Partners/MDs or equivalent who are keen to help out, you are doing the lord’s work and may even inspire a junior or two!

💡 Brain’s Trust - conversations in Auscorp

I. Who’s behind the RTO push?

Over the past few months, it seems that a not-so-silent war is being waged between the WFH and return to office (RTO) camps. Most of us probably sit somewhere on the spectrum between the two.

The media are playing a role in this debate, often giving voices to proponents of the RTO camp. In reality, there is still a lot of resistance amongst staff, with CBA most recently experiencing a huge backlash with its RTO mandate.

Why is it interesting?

Suffice to say, there are a lot parties and ulterior motives involved. We’ll try to break it down so next time you see a news article written by some “guest” author, you’ll know why they’re peddling their message.

Insurance companies, superfunds, family offices, property syndicates: These control a large part of Australia’s CBD commercial properties and have seen values fall around 20% over the past few years. They are now also faced with rising interest rates and a narrow debt to equity ratio that is getting narrower.

Companies: These guys probably have long-term leases, empty workspaces and are citing a drop in productivity as a core reason. Is this bollocks? Interestingly, whilst corporate profit growth slowed in the March quarter this year, since the start of 2020, but we’ve only slipped into negative growth figures in three of the 13 quarters.

Small business associations and CBD local governments: They’re batting for the little guys out there. More RTO means more people buying banh mi's, burritos or chicken salads during lunch hour.

Those that own the towers: This group is interested in one thing - occupancy. Higher occupancy means more demand so they’ll do whatever they can to increase the number of people attending offices.

On the other side of the fence, we have employees - those that value flexibility, WFH and agile working.

We are living in unprecedented times, and the pendulum continues to swing between the two camps of thought. Ultimately, we will settle on an acceptable medium, but if employers don’t get this right, there is a real risk that talent will flock to those companies that do.

II. Redundancy Prep Guide

Many of you will have seen the surge of our IG stories and news articles mentioning redundancies across the whole of corporate Australia. It’s sometimes hard to tell whether these are BAU (i.e. trimming the fat) or something more sinister, but this type of chatter would make anyone nervous.

Why is it interesting?

If you are concerned about redundancy, here are a few tips to help you prepare for the worst:

• Know your rights - check out this handy Fair Work article, which goes through what you are entitled to upon redundancy, including redundancy pay

• Check your finances - figure out how much money you have and how long you can survive whilst unemployed and searching for a job. Build up some cash as this will give you some breathing room

• Refresh your CV and cover letter - doing this in advance means being able to launch into a job search pretty quickly after being notified of your redundancy

• Take a look at job boards - get an idea of what people are looking for and mentally prepare yourself. This will also help you tailor your CV and cover letter

• Start scoping out Linkedin - look at your network on Linkedin, and make mental notes about where they work. Many jobs become available before they’re advertised so reach out when the timing is right

III. PwC Prospects

The biggest news story in AusCorp this year, and it continues to spiral. Recently, PwC Australia announced that it would be selling its government consulting arm to Allegro for $1, after its shambolic tax debacle with the Australian government.

Why is it interesting?

PwC’s reputation has been tarnished from this series of events. Leaving aside its future ability to obtain and retain work, it will be interesting to see how this sale will impact recruitment and talent retention in PwC’s other divisions. Many of our community that work at PwC have already expressed a desire to exit.

PwC has not made itself any more attractive than its competitors with their recent pay review cycle, with pay increases uninspiring and below inflation (though admittedly, this is not that unusual in the current environment).

It is now hard to see how this once-reputable brand will be able to phoenix its way back into the good books of AusCorp in the short or even medium term. In saying that though, the business world has always had a short-term memory, so we wouldn’t count anything out for now.

📮 Postbox - DM highlight

Shine bright

WFH and video conference calls have come with its own problems, and the shiny forehead is one of them. In response to a cry of help from a fellow Aussie Corporate, we asked you the question and crowdsourced some of the best products / remedies to tackle this problem.

Most popular

• La Roche-Posay Effaclar Matte Anti-Shine Moisturiser - “for the value and outcome driven TAC follower”

Affordable

• Shiseido Oil-Control Blotting Papers

• Cancer Council Face Day Wear Moisturiser Matte Invisible

• Natio for Men - Oil Free Face Moisturiser

Mid/Bougie

• Clinique Dramatically Different Moisturising Lotion+

• Mismo Boost Moisturiser

• Ultra Violette Mattifying Zinc Skinscreen

• Beauty of Joseon Sunblock Stick

• Aesop B Triple C Facial Balancing Gel

🙊 Community Bantz - DMs that didn't make the feed

Spotted. Lonely bong wandering the streets of AusCorp.

🩺 Health Check - health tip/reminder

Now that winter is here, most of us will be shifting into a hibernation mindset and the early darkness does not help. But stop that in its tracks! As things slow in winter, you might actually find yourself with more time to get into the gym or to exercise.

Here are some of the top tips that we’ve found helpful:

• Buy the right gear: You want to be warm and comfortable when getting into your exercise clothing in winter. Invest in your health and splash on those lululemon tights if they make you happy.

• Sign up for a fun run / race: Sign up for a fun run or a race and make it your goal to train for it (e.g. City2Surf, Tough Mudder or a half-marathon). Some companies might be organising a team and/or will sponsor your rego fee so reach out to your social committee.

• Don’t give yourself time to make excuses: Bring your gym clothes to work or change into them in the morning. When you have some time in the day, just head out to exercise without any hesitation.

• Curate a playlist: Spend time creating a workout playlist. The time you invest in doing this will go to waste if you never end up using it.

• Get a personal trainer: This one will cost ya a bit of money but health is wealth baby. Having someone keep you accountable and to guide you on your fitness journey will not only give you the knowledge and tools to stay fit and healthy now, but also long into the future.

👴🏻 Old is Cool - meme throwback (1 July 2022)

👍 The Nook - AusCorp recommendations

🏏 The Ashes (event) - Held until the 31st of July, the Ashes are back this year, and being hosted in England. Ghastly timezone differences aside, the Aussies have taken the first test (narrowly) so this should shape up for a great series.

📕 Outlive: The Science and Art of Longevity (book) | Goodreads 4.5/5 | "Who doesn’t want to live longer and with better health?! If you’re a fan of the Huberman Labs podcast, or exploring ways to improve your overall physical and mental health, you’re going to want to add this book to your winter reading list 🤓"

📕 Malibu Rising (book) | Goodreads 4.1/5 | "It’s by the author of Daisy Jones and the Six and about a fictional fire that breaks out at a Malibu mansion during a party in the 80s. Who did it and why? It’s sexy and cool and has no lawyers in it (so far anyway)."

📺 Safe Home (TV show, SBS) | IMdB 8.2/10 | - "SBS miniseries that quite accurately depicts the culture at law firms and community legal centres, set in Melbourne. Brings attention to a very serious issue - family violence - in a plot-driven narrative with a few jumps and twists. Only 4 episodes (so it’s easy to binge in one day) and free to stream on SBS on Demand."

🗣 How I Work (Podcast) - "Great tips on how to enhance and optimise work productivity by Amber Imber. Talks about tips, tricks, rituals which have helped me achieve so much more in a day."

🗣 The Briefing (Podcast) - "Quick summary of the top news articles daily and then followed by a 10 minute deep dive into one story."

🍝 Cicerone Cucina Romana (Restaurant, Sydney) | "Italian restaurant in Surry Hills. Short story - the best Italian in Sydney, and reasonably priced to boot."

☕️ Bar Mammoni (Cafe, Sydney) | “Small Italian cafe tucked away near Circular Quay. Great coffee and really good quick lunch options.”

🥠 Fox Pops (Snack) | It’s a new snack made of Popped Water Lily Seeds! It’s relatively new in Australia and so so so good! Perfect mid - day office snack! An alternative to chips and popcorn!

🔥 The Spoonie Society Heat Packs (Product) | "Small Aussie female led business making the best and most versatile heat packs. Stay with me - cold hands on the way to work? Hand warmer heat packs. Sore back or cramps? Wrap around heat pack. Busted knee from your bosses running WIP? Wrap around mini heat pack. Migraine from working 4 x 16 hr days back to back? Migraine mask (for hang overs too!) Or just because you’re cold and can’t afford to keep heating your home office. They are the bomb!"

🖥 IKEA Komplement Drawer Mat (Product) | "Makes for an excellent minimalist desk mat. Two sizes. 90x30cm for $6 and 90x53cm for $12."

💻 Made in Australia - showcasing Aussie start-ups

This one is for the dog lovers out there. According to a recent report from Bloomberg Intelligence, the global pet industry is poised to swell from US$320 billion today to almost US$500 billion by 2030. Sydney-based pet food start-up Lyka (Series B in June 2023, A$55m) is out there trying to grab a piece of that market.

What is it?

Founded in by CEO Anna Podolsky and integrative veterinarian Dr Matthew Muir in 2018, Lyka’s mission is to provide science-backed healthy meals for your dog. Born out of a realisation of the rubbish that goes into pet food, Lyka sources fresh, nutritious, whole food ingredients that actually make a visible difference to your dog’s health. Apparently, a whopping 96% of dogs “see health improvements” after eating with Lyka.

Given the increasing trend of pet ownership in Australia and beyond, our unconditional love for our own pets and the ongoing costs of poor pet health, we wouldn’t be surprised if Lyka eventually became somewhat of a household gold standard for pet food in the future!

🚗 Under the Hood - what we're working on

Jobs Board

Amidst rolling redundancies across corporate Australia, we have been thinking of ways to support the AusCorp community. We’re working on a very rough jobs board MVP that can eventually serve as a curated job repository for Aussie white-collars. Let us know if you have any thoughts / ideas!

Pay bumps

Once the dust is settled, we will be asking the community how their pay bump went this year… initial reaction is that there is probably not going to be much to write home about 😮‍💨

We are currently looking for long-term partners at The Aussie Corporate. If you are interested, hit us up at [email protected]

✍️ Feedback Loop - share your thoughts

If you have want to provide more detailed feedback or have any topics that you want to hear more about, you can let us know HERE.