The new Government has promised a raft of changes that will both individually and collectively have an impact on organisations. These include:
- Increasing the minimum wage to $16.50 per hour on 1 April 2018 and to $20 per hour by 2021.
- Increasing paid parental leave to 22 weeks on 1 July 2018 and to 26 weeks by 2020.
- Changes in employment law, including to the 90 day trial period provisions.
- Free tertiary and industry training.
- Investment in regional development initiatives.
- Increases in research and development spending.
- Changes to immigration rules.
- Increases in benefit payments.
While some promises have already been enacted, it could take some time for all of these initiatives to be passed into law. The challenge for business and community organisation leaders is to keep abreast of the developments and ensure that their operations are compliant with any new legislation.
The proposals present both opportunities and risks for organisations. As a result it is vital that organisations revisit their plans and test their understanding of the key drivers of their success. Astute leaders will regularly consider the impact of the changes happening around them on their operations. They will be aware of the options being discussed, have developed plans for various alternatives and be prepared to adjust their operating models quickly to take advantage of or minimise the cost of the altered environment.
Do you want to succeed in 2018? If so, how are you preparing your organisation for the changes ahead?
This article was first published in the Mercury Bay Informer of 7 February 2018. See www.theinformer.co.nz
