Unlocking Australia’s productivity through high performance cultures
Businesses must ensure people are AI-empowered, not AI-threatened.
Australia is at a critical inflection point. A new report from the Productivity Commission makes it clear: the country is facing a severe productivity crisis and it was on the national agenda last month when industry and government met in Canberra to discuss the issue.
Despite Australians working some of the longest hours in the developed world, output has flatlined. The short-lived productivity "bubble" of Covid-19 has burst and multi-factor productivity grew just 0.07% last year. The data confirms what many of us feel at work: working harder isn't the answer.
The heart of the issue isn't hours worked, but how people are supported to do their best work. Productivity won't be solved by squeezing more effort from tired teams, it will be solved by creating the conditions where employees are enabled, engaged and connected to purpose.
People are the engine of productivity. Our research with companies on the Inc. 5000 list of fastest-growing businesses shows the same thing: culture is not "soft". It's a key business driver.
