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Australian Information Commissioner suing cyber-hacked Medibank
Health insurer Medibank is facing a possible maximum fine in the trillions of dollars as a result of a 2022 data breach. The Australian Information Commissioner filed proceedings against the insurer for failing to protect its customers’ data with the action welcomed by cyber security experts and former customers. The Office of the Information Commissioner...
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Five generations in the workplace: Managing perceptions and challenges
A recent People at Work study by ADP has revealed that there are for the first time, five different generations in the workforce driving innovation and success at the workplace. The different characteristics of each generation are forcing HR leaders to examine and understand the differences between the generations while making use of their commonalities to ensure organisations...
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Unions call for workers to be at the core of AI regulation
HR Leader reports AI is present in nearly every industry with increasing adoption of AI in global workplaces. As a result, global workplaces need to consider the group most affected by the changes in AI regulation and adoption – the workers. The ACTU is calling for a “worker-centred approach” and recommends including workers in the...
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Artificial Intelligence to dominate financial reporting in three years
Business leaders expect generative Artificial Intelligence (AI) to revolutionise financial reporting, predicting 99 per cent of organisations will use the technology in financial reporting in three years. Business leaders foresee that auditors will be at the forefront of the technology transformation, according to a survey by KPMG International. The study surveyed global financial reporting executives...
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Mortgage brokers dominate home loan market, transform banks’ profit
As reported on ABC News, home loans continue to dominate the profits for banks but recently, the profit margins have been decreasing due to customers preference for mortgage brokers when finding a loan for their homes. Approximately 75 per cent of new home loans are now negotiated through mortgage brokers, continuing to disrupt the historical...
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Corporates pay highest average legal salaries
As reported in Lawyers Weekly, new research from the College of Law shows that law firms on average pay legal professionals less than government and big corporates. The average salary for legal professionals is $102,100 however, this differs across industries and level of experience. Survey results also show that 35 per cent of lawyers in...
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Cautionary approach required to rollout of AI
As reported in the online publication WAtoday, Australia’s privacy commissioner is urging caution in the speed at which AI is being rolled out by big technology companies. Commissioner Carly Kind is concerned that the fast-evolving technology is being deployed without appropriate safeguards in place for citizens. The privacy commissioner has powers to investigate serious privacy...
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Federal Budget 2024-2025: Debt relief for students in the tertiary sector
The Australian government will ‘wipe out’ $3 billion in student debt across the higher education and VET sectors by overhauling the debt indexation measure currently used to determine increases. Students who owe money through HECS-HELP, the VET Student Loan program or Australian Apprenticeship Support Loan will benefit from the changes to indexation. The government continues...
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A pay raise for ‘feminised’ industries key step to achieving equal pay
The Australian Council of Trade Unions (ACTU) has called on the federal government to increase salaries in ‘feminised’ industries by 9%. The ACTU’s secretary, Sally McManus commented that an increase will alleviate the high cost of living pressures and take a first step to properly value the work of the women who do critical work...
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Navigating gender equality reporting
The Workplace Gender Equality Agency’s (WGEA) Gender Equality Reporting Program is a mandatory program for all non-public sector eligible employers under the Workplace Gender Equality Act 2012. The 31 May 2024 deadline to report on gender pay gaps applies to non-public sector employers with 100 or more staff. The program aims to assist organisations in...
