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APAC Edition
1st August 2024
 
THE HOT STORY
Nearly half of female employees in India Inc. may quit their firms in two years, study says
A study by consulting firm Aon says sexual harassment, bias, and pay disparity are key challenges faced by women in India's corporate sector. The study surveyed 24,000 women from various companies, with nearly half (47%) of them saying they are unsure about how long they will stay with their current employer or else are planning to quit in two years. The reasons cited include the absence of an inclusive work culture and limited career progression. Women who faced bias were found to be 3.5 times more likely to perceive aspects of their organisational experience as unfair. The study also highlighted the need to recruit more women across sectors, especially after the drop in women's participation in the workforce during the pandemic. The Union budget has allocated ₹3 trillion towards schemes aimed at benefiting women and girls, with a focus on increasing their participation in the workforce. The study suggests that measures such as women in leadership roles, flexible work options, and work-life balance can help boost the number of women in the workplace. The data collected did not show any significant difference between women from metros and non-metros in terms of challenges faced.
WORKFORCE
Korea's nuclear energy industry faces talent shortage
Korea's nuclear energy industry faces a talent shortage despite winning a bid to build nuclear reactors in the Czech Republic. The industry requires a workforce of 40,000 people, but only 37,000 are currently employed. The shortage is expected to last for at least six more years. The former administration's nuclear phaseout policy has driven talent away from the industry and discouraged new workers from entering. The industry's growth potential is increasing as the current administration resumes the construction of plants in Korea and successfully bids for projects overseas. However, universities are struggling to attract new students to nuclear engineering programs. The lack of talent is also attributed to the phasing out of nuclear power plants worldwide. The industry needs a steady influx of quality workforce and trust in the continual fostering of the nuclear power plant industry. "You have to think long-term when taking care of the supply and demand of such talent," says Heo Eun-nyeong, a professor at Seoul National University.
Fiji experiences labour shortage due to seasonal worker exodus
Over the last two years, forty thousand more Fijians have left the country than returned. Sharon Liu, a research officer at the Development Policy Centre, observes: "I think with this high level of migration, things are definitely getting more difficult in Fiji . . . There is a strong push within Fiji domestically for people to get out because they want a better life . . . the ultimate solution is for Fiji to create more stable job opportunities."
HEALTH & WELLBEING
Companies overlook employee health risks from climate change
Companies are preparing for climate change, but many overlook the critical impact on employees' health from events including wildfires, extreme heat, and flooding, Talia Varley writes for Harvard Business Review. Such oversight can lead to significant financial costs due to increased healthcare expenses, reduced productivity, and decreased labor availability. To address these risks, companies should conduct health audits, implement early-warning systems, learn from public sector practices, support mental health, and maintain transparent communication. Proactively safeguarding employees' health not only benefits workers but also strengthens public health systems and enhances corporate financial stability.
DIVERSITY, EQUITY & INCLUSION
Australian government pledges greater protection for people with disabilities
Australians with disabilities are to have greater protection from discrimination and increased inclusion in society. The Australian government has responded to the disability royal commission and accepted 130 out of 172 recommendations, with 36 still under consideration. The government will modernise disability discrimination laws and allocate funds for a disability advocacy program and a specialist disability employment program. Safeguarding mechanisms will be put in place, and national approaches to accessible information will be improved. The government's response did not fully address calls to phase out segregated schools and group homes for people with disabilities. Social Services Minister Amanda Rishworth emphasized the government's commitment to making Australian society more inclusive for people with disabilities. Approximately 4.4 million Australians identify as having a disability.
LEGAL
China considers national cyberspace ID to protect personal information
China is considering the implementation of a national cyberspace ID to protect personal information and data security. The draft regulations, issued by the Ministry of Public Security and the Cyberspace Administration, aim to enable users to verify their identities online without disclosing sensitive personal information. The proposed initiative includes a unified network number and a digital authentication credential, both corresponding to a user's identity. However, legal experts have expressed concerns about the potential implications for privacy and government oversight. They warn that while the initiative aims to enhance privacy, it could also lead to increased surveillance over individuals' online activities.
CYBERSECURITY
Microsoft says cyber attack triggered latest outage
Microsoft has revealed that the service outage on Tuesday was caused by a cyber attack. The tech giant stated that the initial problems on its Azure cloud platform were triggered by a distributed denial-of-service (DDoS) attack. Microsoft confirmed that an error in the rollout of its own defences amplified the impact of the attack. The company resolved the issue by making network configuration changes. The incident affected various Microsoft services, including Microsoft Teams and Xbox Live.
CORPORATE
Legendary Auckland retailer Smith & Caughey's faces closure
Legendary Auckland retailer Smith & Caughey's is facing the possibility of closure. The 144-year-old company has presented two options - closing for good in early 2025 or retaining a smaller presence in its Queen St building and focusing on online retail. The Newmarket store would still close, but the reduced Queen St operation would offer a collection of popular categories. The decision will be made after a consultation period with staff. Smith & Caughey's has been running at a loss due to various factors, including the economic downturn, competition from shopping malls, and a drop in consumer confidence. The company is now considering downsizing and adjusting staff numbers.
STRATEGY
Tinder parent Match to cut 6% of staff after activist push for change
Match Group, the parent company of Tinder, plans to cut about 6% of its staff as it discontinues live-streaming services on its dating apps. This decision comes after three activist investors urged for changes at the company. Despite a decline in paying users, Match Group beat revenue estimates for the second quarter. Match Group is also testing product changes for Tinder, including more inclusive gender identities. The company's second-quarter revenue reached $864m, and it expects revenue of $895m to $905m for the third quarter.
INTERNATIONAL
A union for Amazon warehouse workers elects a new leader
Workers at Amazon's only unionised warehouse in the US have elected new union leaders. A slate of candidates led by former Amazon worker Connor Spence received the most votes. Spence, a prominent organiser, aims to secure a contract with Amazon, which has resisted unionisation efforts. The election comes after the warehouse voted to affiliate with the Teamsters union. The Amazon Labor Union, chartered as an "autonomous" local Teamsters union, will organise Amazon warehouse workers across New York City. Ruth Milkman, a sociologist of labour, believes Amazon will fight the unionisation efforts. Spence takes over from Chris Smalls, who spearheaded the first successful union organising effort at the warehouse in 2022. The new leaders were sworn in on Wednesday.
Germany urgently seeks to increase female workforce amid ageing population
With a rapidly ageing population, Germany is facing a shrinking labour force and is urgently looking for ways to increase workforce participation. While the government has announced measures to encourage overtime, later retirement, and investment in childcare, experts argue that these steps are not enough to address the deep-rooted obstacles that keep many women at home. Germany's labour force is shrinking by 400,000 workers annually, posing a long-term threat to the economy. The country has a high labour market participation rate, but many women work part-time, resulting in lower average hours per worker. Factors such as tax benefits for married couples, "mini-jobs" with low wages, and a lack of childcare contribute to the underutilisation of women in Germany's labour market. The new measures could however unintentionally create further barriers for women, and social and cultural norms also play a role in women's employment choices.
OTHER
Olympics officials address COVID transmission concerns with hand sanitiser stations
After several Australian water polo players tested positive for COVID in Paris, Olympics officials have implemented hand sanitiser stations to mitigate viral transmission at the summer games. However, experts argue that the real solution lies in strategies to filter or clean the air, because the virus is airborne and can linger indoors for hours. To address this issue, the Pathway to Clean Indoor Air project in Victoria aims to reduce the impacts of respiratory viruses and other airborne hazards on health and the economy. The project will also lay the groundwork for indoor air quality standards and investigate the most effective strategies for different settings. Improving indoor air quality not only helps prevent the spread of respiratory viruses but also reduces the risk of various health problems and improves productivity. The Victorian Government's leadership in this area is said to be a model for the rest of Australia and the world.
 


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