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What do Lego and Dove have in common? In the modern world sustainability has shifted from a buzz word to a necessity. Consumers have more information available to them than ever before and they want to engage with companies who they believe conduct sustainable and ethical business. This change in consumer expectations requires organisations to take serious measures to integrate initiatives which increase their corporate social responsibility. “Corporate Social Responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders” (Financial Times). Within CSR there are four tiers of: Direct philanthropic giving Environmental sustainability Ethical business practices Economic responsibility At the core of CSR is the aim of positively adding to society while also holding the interests of stakeholders at the forefront of organisational choices.    As consumer beliefs mould the business landscape organisations such as the Reputation Institute make industry information readily available to assist in this push. Its annual RepTrak rankings offer a comprehensive guide to the top 100 companies with the best reputations internationally. This information has lifted the lid on business practices and put CSR into the limelight, requiring major companies to respond in a variety of ways. Lego was ranked number one by RepTrak in 2017, having jumped from fifth place in 2016. Lego’s partnerships with the World Wildlife Fund and their Sustainable Materials Center have contributed to their positive global reputation. These choices as a company increase their CSR which has been favourably received by consumers. While these actions benefit society, they are also advantageous to the business and shareholders. A sentiment which is also shared by the former CEO of Unilever, Niall Fitzerald who has stated the importance of CSR as a contributing factor in the success and longevity of a company. Observing…

Employment After The Royal Commission – How the landscape has changed for employers and employees Since the completion of the Hayne Finance Services Royal Commission earlier this year I’m often asked what impact the findings have had on recruitment. Whilst the news wasn’t pretty and damaged the trust many Australian’s had in the banking system it is important to remember that with nearly 170,000 employees in banking alone the absolute vast majority of staff continue to uphold the highest levels of professionalism. In advance of the commission, the focus was already shifting with the Sedgwick review into how banks needed to change how to reward and pay staff. The Australian Banking Association has stated that these are the core recommendations to come out of the review: “No longer paying retail bank employees incentives based directly or solely on sales. Where incentives are paid, they should be based on a range of measures of which financial measures is not the dominant component. Incentives paid should be product neutral and no longer include payments related to additional products or cross-selling products. Examining workplace culture and leadership frameworks to ensure they are aligned with good customer outcomes. Increasing transparency of remuneration arrangements with third parties, such as mortgage brokers, including stopping payments directly linked to loan size and introducing more robust performance management like that used with employees.” Likewise, The Royal Commission made some of the following recommendations: Banking – Mortgage brokers must act in the best interests of the borrower, not the bank providing the loan. Breach of this duty would result in a civil penalty, Lenders should be banned from paying trailing commissions to mortgage brokers for two to three years Financial Advice – All ongoing fee arrangements must be reviewed annually by the client, Financial advisers who lack independence must,…