Treasury report blames workers for low wages, banking watchdog inundated with complaints, and more top news

The news Australian professionals are talking about now, curated by LinkedIn’s editors. Join the conversation in the comments below.

A newly-released Treasury report points the finger at workers for Australia’s persistently low wage growth. Australian workers are increasing reluctant to change jobs and remain anchored in “unproductive companies,” Treasury claims. Because increased job switching “leads to higher wage growth,” only structural reforms designed to embolden workers to transfer between jobs will make a serious dent on wages and move the dial on innovation, the report asserts. Annual wage growth is currently 2.3%; it was 4% just prior to the 2008 financial crisis. Here's what people are saying.

The Australian Financial Complaints Authority is sifting through “a deluge” of complaints resulting from last year's financial services royal commission. The ACFA has logged 35,263 complaints since November, with 67% related to the four big banks. The watchdog now anticipates receiving 80,000 grievances within its first year, which is almost double the combined average of previous state financial ombudsman. The majority of gripes filed against banks relate to “misleading conduct, processing errors, poor complaints handling and the conduct of employees.” Here's what people are saying.

The large distances many Australians travel to work may be hurting productivity. On average, full-time employees in Australia spend 5.75 hours per week commuting to and from their workplace. An RMIT University and University of Melbourne study of more than 1,100 workers who commute to work daily in Sydney, Melbourne and Brisbane found those who travel further are more likely to miss work compared to those who find the commute fast and easy; workers who only have to travel one kilometre to work have 36% fewer absences. Here’s what people are saying. 

Australian retailers are slashing prices on a cluster of big name products in retaliation of Amazon’s 65-hour Prime Day bargain marathon. David Jones, Myer, Harvey Norman and JB HiFi are “defending their own patch” against the American giant’s bid to scoop up the majority of Australia’s discretionary spending benefits. Prime Day and its local iteration arrive at a testing time for Aussie retailers, already buffeted by “stalling sales” stemming from stretched household budgets, slow wage growth, and a surge in the cost of living. Here's what people are saying.

Australia’s conflict-averse culture makes instigating difficult conversations a daunting prospect for managers, The AFR writes. Yet, the sooner managers face that it’s a core part of their role, the better. Australian managers often delay taking action, experts say. They optimistically but unrealistically hope an issue will be solved without intervention because they “don’t want the other person to feel bad.” Yet these conversations are crucial to successfully managing workers. Managers can even “reframe them as an opportunity to help,” if they need to make them “more palatable.”  Here's what people are saying.

Idea of the Day: Experience has value, says Stanley Bergman, CEO of Henry Schein. Just like in tennis, anyone can hit a ball but very few can hit it like a pro.

“When you take that new job, above all, do this first: Listen, observe, and learn. Find an experienced mentor who can show you where and how to hit the ball.”

What's your take on today’s stories? Share your thoughts in the comments.

— Andrew Murfett