Latest news with #AustralianRetailersAssociation
The Advertiser
5 days ago
- Business
- The Advertiser
Employers urged to double down on workplace diversity
Australian workplaces are being urged to double down on diversity, equity and inclusion programs rather than follow the United States in dismantling them. Known colloquially as DEI, these initiatives are designed to create a fair and inclusive workplace with diverse people, where the playing field is levelled and all feel welcome. Since his most recent election as United States president, Donald Trump has wound back government DEI programs with many private sector companies following suit. But the former head of the Australian Retailers Association, Paul Zahra, wants Australian businesses to take a different path. Recently appointed patron of Pride in Diversity, an organisation that supports employers in all aspects of LGBTQ workplace inclusion, Mr Zahra said the need for diverse visibility had never been greater. When appointed chief executive of David Jones in 2010, he was the only openly gay leader in the ASX 200. During his time at the retailers association, Mr Zahra then championed DEI by signing retailers up to gender and LGBTQI equity statements and advocating for First Nations peoples. "I bring lived experience and I understand the complexities," he told AAP. "For LGBTQI people there is still a social taboo and it's not always socially acceptable." But rather than going down a rabbit hole of winding programs back, diversity, equity and inclusion should represent an opportunity for employers. "People need to see it as an economic imperative and what is happening in the US means Australia can position itself advantageously," Mr Zahra said. "While Washington rolls back DEI initiatives ... Australia has a unique chance to position itself as a global leader in inclusive business practices and reap the substantial economic benefits that come with it." The White House has defended its shutting down of DEI programs within government, calling the framework a form of discrimination and says its transgender policy protects women by keeping transgender women out of shared spaces. But Mr Zahra, who led the retailers association through the COVID-19 pandemic which was one of the toughest periods in retail history, said he had seen time and again how diverse leadership teams outperformed homogeneous ones. "As this continues in the US, more of the talent will be forced out and Australia has a real opportunity to capture that talent," he said. "When your competitors abandon proven business practices, Australia can capture the talent that values inclusion." Recent Diversity Council Australia research shows some progress has been made in Australian workplaces towards diversity and inclusion but opposition to these efforts has doubled to seven per cent since 2017. Despite having more ways of reaching colleagues than ever, the Inclusion at Work Index found workers report feeling less connected and able to contribute to their teams. Australian workplaces are being urged to double down on diversity, equity and inclusion programs rather than follow the United States in dismantling them. Known colloquially as DEI, these initiatives are designed to create a fair and inclusive workplace with diverse people, where the playing field is levelled and all feel welcome. Since his most recent election as United States president, Donald Trump has wound back government DEI programs with many private sector companies following suit. But the former head of the Australian Retailers Association, Paul Zahra, wants Australian businesses to take a different path. Recently appointed patron of Pride in Diversity, an organisation that supports employers in all aspects of LGBTQ workplace inclusion, Mr Zahra said the need for diverse visibility had never been greater. When appointed chief executive of David Jones in 2010, he was the only openly gay leader in the ASX 200. During his time at the retailers association, Mr Zahra then championed DEI by signing retailers up to gender and LGBTQI equity statements and advocating for First Nations peoples. "I bring lived experience and I understand the complexities," he told AAP. "For LGBTQI people there is still a social taboo and it's not always socially acceptable." But rather than going down a rabbit hole of winding programs back, diversity, equity and inclusion should represent an opportunity for employers. "People need to see it as an economic imperative and what is happening in the US means Australia can position itself advantageously," Mr Zahra said. "While Washington rolls back DEI initiatives ... Australia has a unique chance to position itself as a global leader in inclusive business practices and reap the substantial economic benefits that come with it." The White House has defended its shutting down of DEI programs within government, calling the framework a form of discrimination and says its transgender policy protects women by keeping transgender women out of shared spaces. But Mr Zahra, who led the retailers association through the COVID-19 pandemic which was one of the toughest periods in retail history, said he had seen time and again how diverse leadership teams outperformed homogeneous ones. "As this continues in the US, more of the talent will be forced out and Australia has a real opportunity to capture that talent," he said. "When your competitors abandon proven business practices, Australia can capture the talent that values inclusion." Recent Diversity Council Australia research shows some progress has been made in Australian workplaces towards diversity and inclusion but opposition to these efforts has doubled to seven per cent since 2017. Despite having more ways of reaching colleagues than ever, the Inclusion at Work Index found workers report feeling less connected and able to contribute to their teams. Australian workplaces are being urged to double down on diversity, equity and inclusion programs rather than follow the United States in dismantling them. Known colloquially as DEI, these initiatives are designed to create a fair and inclusive workplace with diverse people, where the playing field is levelled and all feel welcome. Since his most recent election as United States president, Donald Trump has wound back government DEI programs with many private sector companies following suit. But the former head of the Australian Retailers Association, Paul Zahra, wants Australian businesses to take a different path. Recently appointed patron of Pride in Diversity, an organisation that supports employers in all aspects of LGBTQ workplace inclusion, Mr Zahra said the need for diverse visibility had never been greater. When appointed chief executive of David Jones in 2010, he was the only openly gay leader in the ASX 200. During his time at the retailers association, Mr Zahra then championed DEI by signing retailers up to gender and LGBTQI equity statements and advocating for First Nations peoples. "I bring lived experience and I understand the complexities," he told AAP. "For LGBTQI people there is still a social taboo and it's not always socially acceptable." But rather than going down a rabbit hole of winding programs back, diversity, equity and inclusion should represent an opportunity for employers. "People need to see it as an economic imperative and what is happening in the US means Australia can position itself advantageously," Mr Zahra said. "While Washington rolls back DEI initiatives ... Australia has a unique chance to position itself as a global leader in inclusive business practices and reap the substantial economic benefits that come with it." The White House has defended its shutting down of DEI programs within government, calling the framework a form of discrimination and says its transgender policy protects women by keeping transgender women out of shared spaces. But Mr Zahra, who led the retailers association through the COVID-19 pandemic which was one of the toughest periods in retail history, said he had seen time and again how diverse leadership teams outperformed homogeneous ones. "As this continues in the US, more of the talent will be forced out and Australia has a real opportunity to capture that talent," he said. "When your competitors abandon proven business practices, Australia can capture the talent that values inclusion." Recent Diversity Council Australia research shows some progress has been made in Australian workplaces towards diversity and inclusion but opposition to these efforts has doubled to seven per cent since 2017. Despite having more ways of reaching colleagues than ever, the Inclusion at Work Index found workers report feeling less connected and able to contribute to their teams. Australian workplaces are being urged to double down on diversity, equity and inclusion programs rather than follow the United States in dismantling them. Known colloquially as DEI, these initiatives are designed to create a fair and inclusive workplace with diverse people, where the playing field is levelled and all feel welcome. Since his most recent election as United States president, Donald Trump has wound back government DEI programs with many private sector companies following suit. But the former head of the Australian Retailers Association, Paul Zahra, wants Australian businesses to take a different path. Recently appointed patron of Pride in Diversity, an organisation that supports employers in all aspects of LGBTQ workplace inclusion, Mr Zahra said the need for diverse visibility had never been greater. When appointed chief executive of David Jones in 2010, he was the only openly gay leader in the ASX 200. During his time at the retailers association, Mr Zahra then championed DEI by signing retailers up to gender and LGBTQI equity statements and advocating for First Nations peoples. "I bring lived experience and I understand the complexities," he told AAP. "For LGBTQI people there is still a social taboo and it's not always socially acceptable." But rather than going down a rabbit hole of winding programs back, diversity, equity and inclusion should represent an opportunity for employers. "People need to see it as an economic imperative and what is happening in the US means Australia can position itself advantageously," Mr Zahra said. "While Washington rolls back DEI initiatives ... Australia has a unique chance to position itself as a global leader in inclusive business practices and reap the substantial economic benefits that come with it." The White House has defended its shutting down of DEI programs within government, calling the framework a form of discrimination and says its transgender policy protects women by keeping transgender women out of shared spaces. But Mr Zahra, who led the retailers association through the COVID-19 pandemic which was one of the toughest periods in retail history, said he had seen time and again how diverse leadership teams outperformed homogeneous ones. "As this continues in the US, more of the talent will be forced out and Australia has a real opportunity to capture that talent," he said. "When your competitors abandon proven business practices, Australia can capture the talent that values inclusion." Recent Diversity Council Australia research shows some progress has been made in Australian workplaces towards diversity and inclusion but opposition to these efforts has doubled to seven per cent since 2017. Despite having more ways of reaching colleagues than ever, the Inclusion at Work Index found workers report feeling less connected and able to contribute to their teams.
The Advertiser
08-07-2025
- Business
- The Advertiser
Disappointment as Reserve Bank leaves rates on hold
From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney. From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney. From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney. From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney.
Yahoo
08-07-2025
- Business
- Yahoo
Disappointment as Reserve Bank leaves rates on hold
From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney.
West Australian
08-07-2025
- Business
- West Australian
Disappointment as Reserve Bank leaves rates on hold
From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney.
Perth Now
08-07-2025
- Business
- Perth Now
Disappointment as Reserve Bank leaves rates on hold
From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney.
