Early February, Victoria announced that all (including travellers) may be required to show proof of a third vaccine dose to enter some public sites in coming months to protect the country against future waves of infections. Many experts feared that it was too soon to mandate third-jab saying that many parts of the world they haven’t had access even to …
80% of Australian Firms Are Hampered by Labour Shortage
Australian SME companies (and Australian Accounting firms) are continuing to struggle to find sufficient resources as labour shortages continue. Many SME companies are reporting labour shortages have been constraining their ability to operate at full capacity. Global supply chain issues are exacerbating supply constraints and prices are escalating with inflation on the horizon. Staff shortages and wage pressure, as well …
Australian Accounting Firms: The Problem with Increasing Pay To Secure Staff
Pay rise continues to be discussed in a recent article by the AFR. When compared to two years ago, junior accountants are getting paid 28 percent more, while senior accountants are offered a 55 percent pay increase. The upper end of salary ranges has continued to escalate and shows no sign of slowing down in the near future. The same …
Australia’s Never-Ending Definition of “Fully Vaccinated” and Impacts for Australian Accounting Firms
Last Friday, 10 February 2022, the Australian Technical Advisory Group on Immunisation (ATAGI) released a new guidance relating to COVID-19 vaccination status. Under the new guidance, the definition of your COVID-19 vaccination status is changing from ‘fully vaccinated’ to ‘up to date’. It is said that the former term did not include booster shots so it shall be disregarded from …
Are We Really More Productive Working From Home?
In theory, work from home (WFH) is a win-win situation for everyone. Mostly, WFH save all the time, money and hassles of commuting, allowing staff to focus better and spend more time on the job. Furthermore, when staff feel that they have more autonomy over where and when they work, they tend to feel happier and more productive. Also, since …
Australia Is Losing Talent Abroad, and It’s SMEs Who Are Suffering Most
In the report released mid-December by the Australian Bureau of Statistics, it was revealed that the impact of COVID on overseas migration resulted in a net loss of 88,800 people in 2020-21 (comparing to a net gain of 241,300 people during 2018-2019 pre-pandemic). Australia is under the first phase of reopening. In this phase, allowing Australians to enter/leave the country …
Omicron Variant Interrupts Return to Office Plans
Delta variant has not yet cleared the stage and the world has to admit another, even deadlier and more infectious variant called Omicron. In the US, it is reported that Omicron is linked to 95% of new Covid cases. In Australia, 1.1 million cases were reported since the pandemic began, with more than half of those in the first 2 …
Offshore Students Pursuing an Australian Education Qualification Are Being Considered for Work Rights in Australia
Late November, the Australian government released a 10-year strategy for international education with the goal of strengthening the international education sector in Australia in the coming years. Three important points were introduced: Have more diversity amongst the international student population: China and India currently account for 58 percent of overseas students in Australia. Diversification would reduce financial risk while also …
Accounting Firms Urged to Consider Flexible Working Arrangement to Retain Staff
According to the Adapting to the New Normal report by Bastion Reputation and Bastion Insights, two in five employees surveyed want, more than anything, flexible working arrangements. Autonomy is currently more important for some than incentives such as higher pay to most Aussie professionals. Big-four consultancy have already paved the way by offering remote working from overseas. The new policy …
Accounting Firm Owners to Fight Labour Shortage and Wage Growth
Despite earlier pressures and projections, wage growth in Australia has remained moderate, according to the RBA (Reserve Bank of Australia). To be more explicit, wage growth in the public sector was slow. Though there were some good signs in the private sector, the growth had only improved to about its pre-pandemic level. This has a direct impact on three parties. …
