Driving productivity from the top | KPMG | AU

Driving productivity from the top

Driving productivity from the top

KPMG and the Australian Institute of Company Directors (AICD) have partnered on an important study which asks directors and governance leaders to evaluate the conditions and decisions that drive productivity in Australia.

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A survey of Australian directors and governance leaders

The views captured in the survey and resulting report provide useful insights into the priorities of directors – including the role of directors and the board in establishing and leading a productivity agenda.

Conducted with 695 Australian directors and governance leaders who are members of the AICD, the survey reveals a consistent theme: that short-term decision making and a lack of leadership are impacting business productivity in Australia. It also reveals some interesting perspectives about the purpose of business and the role directors see corporations playing in our society.

 

Specifically, the survey found that:

  • Australian directors believe a lack of political courage is a key inhibitor of long-term productivity reform initiatives
  • Training and skills development could 'turn-the-dial' on productivity and requires a renewed focus and investment
  • Engaging in public debate and implementing better business practices are seen as important activities directors can undertake to influence public policy and champion reform
  • Directors acknowledge that the business sector has a clear role to play in driving productivity reform in Australia
  • There is a clear recognition from directors that businesses must play a role in supporting social cohesion.

Featured in the report:

  • Productivity and its payoffs by Stephen Walters MAICD, Chief Economist, Australian Institute of Company Directors
  • What is the purpose of business? by Lucas Ryan GAICD, NFP Policy Advisor, Australian Institute of Company Directors
  • The director’s role by Sally Freeman, Partner in Charge, KPMG’s Risk Consulting Group.

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