The next chapter of national productivity
Doug Taylor
Social Purpose- Leadership, Governance & Education. Chief Executive Officer at The Smith Family. Board Member
Education is a powerful change agent and it's vital for productivity.
I recently had the opportunity to delve into the Productivity Commission 's Advancing Prosperity report. It was heartening to see the emphasis placed on investing in human capital, particularly in the areas of education.
As our productivity growth reaches a 60-year low, averaging just 1.1% annually, the need for investment in education and our young people is reaching a crisis point.
Treasurer Jim Chalmers hit the nail on the head in his recent CEDA address when he stated that tackling productivity challenges demands more than mere "quick-fix, easy win, whack-a-mole policy making."
This holds especially true for supporting young people experiencing disadvantage.
At The Smith Family , we believe that nurturing the potential of our young people is a key to driving long-term innovation, productivity, and economic growth.
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The Productivity Commission’s report reinforces the importance of building a more adaptable and skilled workforce to face the challenges of an ever-evolving global economy.
Collaboration between the public and private sectors, as well as NFPs like ours, is crucial in creating a robust support network for students. We're committed to fostering trilateral partnerships that expose young people to the world of work while they’re at school, helping them become a part of a flexible and competitive workforce. And by providing diverse opportunities for young people to be exposed to the world of work, we can ensure that young people have the tools they need to succeed.
We’re grateful to a number of corporates who are providing access to their workplaces and for their staff giving guidance about the world of work to help our young people get the experience they need in the real world.?It’s when we come together as a community like this that we are able to empower our young people and pave the way for a brighter, more productive future for all Australians. ????