Australian CEOs Predict Return to Office and Reward Incentives

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Just when we thought the days of talking about where we work – whether it be the home or the office – were behind us, it’s been thrown back into the spotlight.

A recent study by KPMG Australia found that two-thirds of Australian chief executives expect people to be back in the office five days a week within the next three years. While almost 90 per cent plan to reward people who come into the office with pay raises and promotions. Eek.

Soon after, an Australian man lost an appeal at the Fair Work Commission to work full-time from home, which was the first ruling under Labor’s Secure Jobs Better Pay Act.

The conversation about where we work is an important one. It influences the housing market, transport services, and our carbon footprint. It even plays a role in social policy – in the US, the Biden administration is looking to convert vacant offices into affordable housing. Could this happen in Australia?

With the shift towards remote work during the pandemic, companies across the globe had to quickly adapt to a new way of doing business. Employees found themselves working from the comfort of their homes, avoiding long commutes, and discovering newfound flexibility. However, as vaccination rates rise and economies recover, the discussion around returning to the office has resurfaced.

According to a recent study by KPMG Australia, chief executives in the country are eager to bring employees back to the office. In fact, two-thirds of them anticipate a return to the five-day workweek within the next three years. Furthermore, almost 90 percent of these executives plan to incentivize employees with pay raises and promotions for their physical presence in the office. This raises the question: who will bear the cost of returning to the office?

The debate took a legal turn when an Australian man lost an appeal to the Fair Work Commission, which sought to allow him to work full-time from home. This ruling has significant implications as it is the first under Labor’s Secure Jobs Better Pay Act. It highlights the challenges individuals may face in balancing their professional and personal lives in a post-pandemic work environment.

The discussion around workplace location goes beyond the individual. It has far-reaching consequences for transportation services, the housing market, and even the environment. In the United States, for instance, the Biden administration is considering repurposing vacant office spaces into affordable housing to address housing shortages. Could Australia follow suit?

As we navigate the complexities of the post-pandemic world, it is crucial to consider the interests and needs of employees, employers, and the wider society. The decision to return to the office carries financial, logistical, and environmental implications. It is crucial to strike a balance that allows for employee well-being, while also fostering economic growth and sustainability.

The future of work remains uncertain, but one thing is clear: the discussion around where we work will continue to shape our professional and personal lives. It is a topic that deserves careful consideration and dialogue among stakeholders to ensure a fair and equitable outcome for all. As we move forward, it is essential to approach this conversation with empathy, open-mindedness, and a commitment to finding solutions that benefit individuals, businesses, and the community at large.

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Shreya Gupta
Shreya Gupta
Shreya Gupta is an insightful author at The Reportify who dives into the realm of business. With a keen understanding of industry trends, market developments, and entrepreneurship, Shreya brings you the latest news and analysis in the Business She can be reached at shreya@thereportify.com for any inquiries or further information.

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