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Advancing human capital and tech adaptation in the workforce
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Monash University, Indonesia, hosted two significant events in 2024 to advance human capital development and adapt to technological changes in the workforce:
The HR Gathering 2024 focused on strengthening human capital and public sector capacities in the VUCA era, with discussions on digital readiness and agile leadership.
The 3rd International Conference of the Journal of Information Systems explored the integration of AI in accounting, emphasising the need for technological fluency and transferable skills in the profession.
A rise in Australian modern slavery disclosure reporting standards
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The Monash Centre for Financial Studies, part of Monash Business School, conducted an annual assessment revealing that over half of Australia's ASX100 companies have received an A grade for their Modern Slavery reporting. This marks a significant improvement since the introduction of reporting obligations in 2020.
The report highlights that companies are increasingly taking active measures to address modern slavery in their supply chains, with many opting to work through issues rather than terminate relationships.
The report underscores improvements in governance, risk assessment, supplier due diligence, and collaboration, with the utilities and real estate sectors leading in disclosure quality.
Monash-developed case studies spotlight sustainable finance in Malaysia
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The School of Business at Monash University Malaysia, recognised for its expertise, was appointed as the knowledge partner for the Malaysian Chief Financial Officers Collective Action Program (MY CFO CAP). This initiative, a collaboration between Capital Markets Malaysia and the UN Global Compact Network Malaysia & Brunei, involved a team of researchers including Dr Norita Mohd Nasir, Dr Puspavathy Rassiah, Dr Ravichandran Subramaniam, Associate Professor Karren Khaw, Associate Professor Yessy Arnold Perangin Angin, and Professor Mohan Avvari.
They developed a report featuring case studies on Malaysian businesses that have adopted sustainable finance as a key part of their environmental business strategy. The report highlights the efforts of companies like Axiata Group Berhad, IOI Corporation Berhad, reNIKOLA Holdings Sdn Bhd, and Yinson Holdings Berhad in implementing sustainable finance initiatives, such as green sukuk and sustainability-linked sukuk wakalah, despite challenges like regulatory hurdles and defining transparent sustainability targets.
These efforts have led to benefits such as cost savings, access to new investor pools, and progress towards climate targets.
Youth challenges in Australia
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Monash University's Centre for Youth Policy and Education Practice (CYPEP) conducted significant research on the challenges faced by young Australians, revealing that many feel they are missing out on their youth due to financial pressures and work-study balance. Key activities include:
Dr Thuc Bao Huynh's interview on Triple J Hack discussing the 2022 Australian Youth Barometer data, highlighting the need for better support systems for youth.
A CYPEP report identifying key areas of concern such as finances, work, education, and long-term planning, calling for targeted interventions to support young people, especially post-pandemic.
MUARC's ‘Respect Traffic Controllers’ campaign wins third place
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The National Road Safety Partnership Program (NRSPP), hosted by the Monash University Accident Research Centre (MUARC), developed the 'Respect Traffic Controllers' campaign, which won third place at the International Safety Media Awards 2024.
The campaign aims to reduce verbal and physical abuse against traffic controllers by fostering empathy and understanding among road users. It is grounded in evidence-based research and was co-designed with industry partners. The campaign highlights the importance of creating a positive road safety culture and supports the safety and well-being of traffic controllers.
In the face of disparity, do we need a ‘NDIS for aged care’?
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The ARC-funded project 'Addressing the Deficit in Men’s Participation in Paid Care Work' explores the challenges in the Australian Health Care and Social Assistance (HCSA) sector, particularly in aged care. The project highlights the need for systemic changes to improve working conditions and attract more men into the sector, addressing gender stereotypes and the undervaluation of care work.
The study suggests the implementation of a model similar to the NDIS for aged care to ensure adequate staffing and care quality.
Competition law principles for ‘vertical’ agreements
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Mel Marquis, Monash Law's Deputy Associate Dean (Engagement) and Senior Lecturer, along with Dr Sven Gallasch, submitted a comprehensive research report to the Australian Competition and Consumer Commission. The report, titled 'Vertical Agreements in the ASEAN Economic Community,' explores competition law principles for vertical agreements in ASEAN and its Member States. It provides a comparative analysis of six ASEAN countries and suggests a nuanced regulatory approach to vertical agreements, emphasising the need for legal and practical convergence across ASEAN.
The report advocates for a competition law enforcement model that includes clear prohibitions, safe harbours, and detailed guidelines to enhance legal certainty and predictability.