A Look at the Federal Budget, Personal Branding & the Evolving Student Experience

Start your Wednesday mornings with C-Suite Bytes and set the tone for a successful week. This carefully curated digest brings you the latest insights from top publications, ensuring up-to-date with the latest industry trends as you sip your morning coffee.?

In this edition, we'll explore the Australian Federal Budget's impact on businesses and individuals. We’ll learn how to refresh your personal brand from Harvard Business Review . Finally, we'll examine KPMG Australia ’s insights on the evolving landscape of higher education and the critical need for universities to prioritise student service experiences.?

But first, my top 3 thoughts last week.?

My 3 Things?

I. Australian Federal Budget 2024–25?

Source: https://budget.gov.au/??

The 2024-25 Australian Federal Budget paints a cautiously optimistic picture. Forecasts predict a surplus and a stabilisation of federal government net debt. Measures focus on cost-of-living relief, with initiatives like energy bill relief and increased social housing funding. The “Future Made in Australia” package emphasises clean energy and critical minerals, aiming to support long-term economic resilience.?

Key Points You Should Know:?

• $9.3 billion surplus expected for 2023-24.?
• Federal net debt stable at 20-22% of GDP.?
• Inflation forecast to moderate below 3% per annum.?
• $13 billion allocated for clean energy and critical minerals.?
• Superannuation contributions on parental leave from July 2025.?
• $3.5 billion extension for the Energy Bill Relief Fund.?
• Increased funding for social and affordable housing.?

Why This Matters:??

For SMBs:?

• Economic stability aids growth.?
• Clean energy incentives lower operational costs.?
• Parental leave benefits attract talent.?
• Energy relief reduces expenses.?

For Enterprises:?

• Stable debt and low inflation ensure predictable business climate.?
• Clean energy funding supports sustainability goals.?
• Extended energy relief improves budget management.?
• Housing funding boosts workforce stability.?

The Budget reflects a focus on navigating immediate concerns while laying the groundwork for a more sustainable and competitive future. How can your organisation leverage these trends to thrive??

Read further:?

• The report is found on the Budget website. There’s a cool tool that allows you to toggle between priorities: https://budget.gov.au/??
• Interesting infographic on what the budget means for different demographics by KPMG. Could be a valuable resource. Its. A very good summary.?
• Also check out the summaries by Deloitte and PwC.??

II. Does Your Personal Brand Need a Refresh??

Source: https://hbr.org/2024/05/your-personal-brand-needs-a-refresh-heres-where-to-start?

Our personal brand is more than just an online presence. It's the image people hold of us professionally. It needs to adapt alongside our career or business goals. As someone who is on this journey of improving my personal brand, this article from HBR resonated with me.??

Key Points You Should Know:?

• Brands help people make choices about products, services, and individuals.?
• Take time to reflect on your current brand and how it aligns with your career goals.?
• Seek feedback from trusted colleagues to understand how others perceive you.?
• Keep your brand current by updating both online and offline perceptions.?
• Identify gaps between your desired and actual personal brand.?
• Create a tactical plan to showcase your updated skills and strengths.?
• Embrace strategic patience as you go through this transformation.?

Why This Matters:?

In a competitive landscape, a stale personal brand can hold you back. A strong personal brand positions you as a thought leader and attracts the right opportunities. It fosters trust and credibility, making you a more effective leader.?

With AI disrupting traditional roles, how are you ensuring that your personal brand reflects your growing expertise and value???

III. Rethinking Student Services?

Source: https://assets.kpmg.com/content/dam/kpmg/au/pdf/2024/kpmg-student-services-in-the-age-of-the-customer.pdf?

I find this report relevant as we’re working with several clients in the higher education sector at ThunderLabs. The report highlights the growing disconnect between student service experiences in higher education and other sectors.??

This presents an opportunity for universities (and by extension, businesses partnering with them) to use data and technology to create a more seamless and customer-centric student experience.?

Key Points You Should Know:?

• A positive student experience directly impacts an institution's reputation and ability to attract talent.?
• Traditional, siloed service models no longer suffice. Universities need to adopt a student-centric approach that leverages data and technology.?

• Partnering with strategic service providers can help universities bridge the digital gap and deliver a seamless experience.?

Why This Matters:?

The current state of student services is falling short of student expectations and hindering institutions’ ability to compete.??

By clinging to outdated service models, universities risk delivering a fragmented experience, eroding trust and loyalty, burning out competent staff, limiting agility and innovation, and wasting valuable resources.?

The bottom line? It jeopardises institutions’ reputation, financial stability, and ability to attract and retain top talent.?

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Conclusion?

In this edition, we explored how to adapt to a dynamic future. From understanding the national budget to refreshing personal brands and modernising student services, staying ahead requires proactive strategies and continuous learning.

I hope these insights help you to drive impactful changes in your organisation.?

• For a deeper dive into any of these topics, refer to the links provided in each section.?
• Share this newsletter with your network to keep your colleagues informed.?
• Subscribe to stay up-to-date on the latest trends and insights for key decision-makers.?
• Got feedback? I love those. Reach out to me directly. Too shy? DM Shiela ? Pantaleon instead. ;-)?

See you next fortnight.?