Blog Archives

How to turn your work-ability into your biggest asset

My husband Ray and I are your typical Aussie mum and dad property investors; our three children are also young investors (in their 30s).

Back in the 1980s, getting a deposit together to purchase a house was arguably as difficult as it is today. My husband and I started saving on our engagement. Our parents were of humble means – certainly not in a position to help out. There were no maternity/paternity leave entitlements, no child care facilities and we relied on one income for many years after we settled into our home.

The Government at the time attempted to solve the problem of housing affordability by providing a first home buyers grant (a means tested cash bonus to assist with the purchase). Although our individual salaries were not particularly high, when combined, Ray and I were not entitled to the grant.

So we worked five jobs between us. When our peers were out dancing at bachelors and spinsters balls, we were the ones working in hospitality, serving them food and drinks. They were driving around in new cars. We drove second hand cars and once we bought a new one, we owned it for 10 years before buying a new one. Our peers were travelling around the world and going to rock concerts. I regret to say I never attended a rock concert. I remember the only musical I went to see was Jesus Christ Superstar.

Economists are always predicting a drop in the property market and investing means accepting some risk. When we decided to buy an investment property, our parents, friends and family, actually tried to talk us out of it! Don’t do it, it’s too risky, you can’t afford the loan repayments… What if you lose your job, what if you fall pregnant or what if there is another GFC, or a war?

Harry Triguboff, Australian billionaire real estate property developer was interviewed on 60 Minutes recently. He said, “Ordinary mum and dad investors are battlers and not millionaires.” In my experience this rings true. Aussie mum and dad investors contribute to rental availability in the market. It stands to reason that the more investors there are, the more rentals there will be available, which assists with rental affordability.

On the same program Tim Gurner, a young property investor turned successful developer, was also interviewed. Interestingly he recommended exactly what we have practiced. Go without the luxuries, work hard and have a goal. While it has been muted that he received a leg up with a deposit from his family, parents can assist in other ways, such a guaranteeing a loan or providing a deposit bond.

When we criticise the lifestyle choices of millennials, are we simply being critical of young people? My children started in the property market as teenagers. We did not provide them with any funding whatsoever. We set the example; they took the risk, budgeted hard and were devoted to their jobs.

The conversation should be about choices, not criticism. Taking a year off and travelling the world on a working holiday… well good on you, you’re only a year behind in savings, and possibly a few steps behind (or ahead) in your career. The occasional smashed avocado and a latte over breakfast won’t destroy your life savings either. Going to university will put your savings back several years and adds a HECS to your financial commitments in most cases, but you’re positioning yourself to catch up as your career advances.

A request under FOI revealed that over the past eight months (August 2016 to February 2017) in NSW alone foreign investors paid a staggering $76.6M in stamp duty to the state government, compared with Australian and dual nationals who paid almost $3.8M. While it’s obviously a great tax revenue stream, the disparity in the figures are symptomatic of local investors losing in their bids to secure property.

Doing something about housing affordability is problematic. Should we make it easier for young Australians by offering investment grants, allowing first home buyers to use their superannuation for a deposit, or further limit foreign ownership of Australian real estate? All of these ideas are debatable, with potential for unintended consequences. Certainly providing better information on budgeting, saving and investing would help educate the next generation of buyers. At present the real winners in the property market are the banks, property developers, fund managers, real estate agents and the state governments who all benefit from high prices.

My generation, the baby boomers, are often held up as a scapegoat for the affordability crisis. In my family we envisage there will be no government pension by the time we retire, so we are providing for ourselves through our property investments. Despite the media focus on negative gearing, its tax advantage doesn’t benefit us significantly. Here are some final considerations that are often overlooked when making a property investment:

  1. Work hard, taking on an extra job when required can make a difference
  2. New APRA rules mean a 20% deposit is required for an investment loan
  3. Banking institutions charge higher rates for property investors (and even higher interest rates for self-managed super funds)
  4. Factor in the significant cost of stamp duty (paid to the state government on purchasing)
  5. Understand the ongoing body corporate fees (if investing in an apartment, unit or development with shared common property)
  6. Budget for maintenance costs
  7. Negative gearing only applies to tax paid on expenses involved in holding your property
  8. Factor in capital gains tax when selling

At some level we are all working for a secure future. What have you done in your world @work to set yourself up for the future?

Tagged with: , , , , , , , , , , ,
Posted in Professional Support, The world @work

Attitude’s the biggest threat to the world economy?

Experts at the World Economic Forum release yearly updates assessing the biggest dangers facing the world economy. Environmental concerns have jumped up the list and now global warming tops economists’ concerns.

Last month I attended an Australian Credit Conference hosted by a large global credit rating agency. The event was well represented by investors and large business organisations. With a number of questions put to the audience, everyone had an opportunity to vote on the topics offered. The popular choice was along the lines of: “What do you think is the biggest threat to the Australian economy today, the cost of carbon reduction or the environmental issues associated with greenhouse gas pollution?”

At the risk of being controversial, it was shocking to me that the business community, as represented at the event, thought changing our (dirty) energy habits would be more disastrous economically than climate change. I was quite surprised that the majority of attendees felt our biggest economic threat is the effect of carbon reduction measures. Surprised, because I assumed those in attendance to be well-informed people with access to plentiful resources about current environmental concerns.

While our business leaders need a crash course in environmental awareness – I’d like them to sit through Al Gore’s An Inconvenient Truth or a screening of Leonardo DiCaprio’s documentary, Before the Flood – I was left wondering whether the majority of Australians in the world @work can see the effects of climate change as it is happening right now? Polls show increasing support from people at grass roots level on a range of environmental issues, including a carbon tax and green energy, but change begins with positive leadership, agitation and support from the community at large.

The potential cost of doing nothing to halt the damage to our planet is incalculable. However, it seems obvious that funding for renewables and other innovative carbon reduction energy solutions is being stalled by vested interests. It took a tweet from Tesla’s Elon Musk (who has famously offered to solve South Australia’s power problems with battery technology in 100 days) to fire-up the State Government and engage the Federal Government in the conversation. It was encouraging to see expressions of interest from local competitors in the battery market, but it’s going to take more than an ex Vice President, a Hollywood actor and an entrepreneur to kick-start a (much needed) renewables boom.

The World Economic Forum says failing to mitigate climate change will likely have a bigger impact globally than the spread of weapons of mass destruction, mass involuntary migration, predicted water crises and a severe energy price shock – Australian consumers have experienced significant energy cost increases year on year, abolishing the Clean Energy Act notwithstanding. Instead of funding massive foreign owned coal mines, as the Queensland Government-Adani partnership proposes, or championing newer but less responsible energy sources, such as coal-seam gas (fracking was recently banned in Victoria), let’s invest in the industries where local businesses and communities also have a future. I’d love to see our manufacturers of solar panels, wind farms, battery cells and other alternative innovations receive most of those investment dollars.

Tagged with: , , , , , , , , , , , , , ,
Posted in Professional Support

How to learn Italian… without going to school

It’s needless to say that childhood experiences shape a significant part of our adult persona, but they also help to build some of the skills and attributes that we carry with us during our working life.

While in pre-elementary (equivalent to kindergarten in Australia) and then elementary school (primary school), I, like many of my peers, revered television for its ability to entertain, educate and simply provide an escape from everyday reality. However, in Albania where I grew up, the State-run channel was pretty dry on children’s programming, with limited variety, laughably amateurish sets and substandard directing, which had little appeal to my youthful imagination. Like many others at the time, I turned to Italian TV for entertainment because it featured many cartoons for children.

The geographical proximity of the two countries (Albania is only 40 miles across the Adriatic Sea from Italy) allowed us to receive Italian broadcasts with a simple medium-wave receiver. From age five onwards I was watching cartoons on Italian TV. I would wake up at 6am along with my brother to watch Anna Dai Capelli Rossi, Heidi, Power Rangers and Sailor Moon, which were all featured in Italian. Enraptured by the stories and delighted by the colourful images, I naturally started to interpret what was being said and my understanding of Italian improved day by day. As I grew a bit older, I progressed to watching a TV series called Amico Mio and even developed a crush on the actor who was about my age! At ten I was able to fully converse in Italian, and have been fluent in the language since then.

I went on to improve my language skills, taking Italian courses in university, where I learned to read and write besides speaking. It’s a skill that came in handy: my first job at 16 was working in an Italian bakery in Toronto. I took a Modern Italian Culture course at university in Canada and shared a house with five Italian girls for a few months in regional Victoria, when I moved to Australia. Funnily enough, I have only once set foot on Italian soil (while visiting a friend in Rome, and just for two days), nevertheless those language skills I acquired from Italian television were my trampoline to the wider world.

Tons of research demonstrates that our behaviour as adults stems from what we have experienced during our childhood. If you are afraid of dogs, it’s probably something you can trace back to your younger days. If you speak Italian in a Micky Mouse voice, you probably grew up somewhere along the Mediterranean.

What about you? Is there anything you have learned in an unconventional way?

Tagged with: , , , , , , , , , , , , , , ,
Posted in Professional Support, The world @work

Hashtag fear less

We ALL fear change and that’s OK, says Marty Wilson. I was recently lucky enough to hear Marty speak at Mental Health in the Workplace, part of the Melbourne Chamber of Commerce People in Business series. He gave an inspiring talk on change and the fear that comes along with it. It’s a theme that often comes up in the workplace when you are faced with organisational change or are considering a career change, but what I couldn’t help think is how do we learn to embrace change and see it for the good that it can be?

As if we were linked via telepathy, Marty turned to me (I am sure at this point he was speaking DIRECTLY to me) and provided some answers to the questions I was contemplating.

First he looked at the Oxford Dictionary’s definition of the word life:

The condition that distinguishes animals and plants from inorganic matter, including the capacity for growth, reproduction, functional activity, and continual change [my bold] preceding death.

Did you see what I saw? Yep, you guessed it. Continual change is a part of Life.

At this point I was thinking to myself, I’m good with change… right? I realised, not only was Marty talking to me (directly to me, again), he was talking about me. Yep, I’m not afraid to put my hand up and say, “My name is Candice and I FEAR change!”

Recognising your fears are part of the solution, Marty gave me a few tips on how to deal with them:

  1. Life is change
  2. Trust your instincts
  3. Be grateful for tough times
  4. Take more risks
  5. Make more mistakes
  6. Lighten-up

Marty followed-up with this gem:

“Imagine if you could choose to become someone who welcomes change and disruption as a normal and exciting part of business and life.” – Marty Wilson

So here’s what am I going to do: I’m going to stop imagining and start changing, change and innovation will now be my middle names. I am going to let go of the past and take a fresh approach, to work and life in general.

If I’m going to tackle the elephant in the room in my workplace, it’s our database. It’s a pretty large elephant, lives in the cloud, has a few wrinkles… I’m sure most offices have a database/system/process/technology elephant lurking about. It’s that shiny new technology that will help us to work smarter, not harder, but often feels like it’s programmed the other way around. So from now on, in my role as Operations Manager, I’m going to focus on what the technology can do for us, not what it can’t do (although a few magic tricks wouldn’t go astray).

Applying #FearLess in a broader sense, I am going to embrace all of the curve balls life throws at me, which are by dictionary definition, part and parcel with change. I am going to fear less about the doing and dive right into change. I’ll make some mistakes along the way, but that’s OK. I started last week by changing my commute from the 75 to the 48 tram. Big mistake, constantly overcrowded, can never get on, changing back today… Yep, I am all about the change now!

What changes are you going to make?

Tagged with: , , , , , , , , , , , , , ,
Posted in Professional Support, The world @work

When I was a Temp

I often ask friends and colleagues about their part-time jobs during their school and university years. Those experiences, what jobs they did and how they were trained, have in one or another, often led them to where they are today.

I myself worked at McDonald’s – on the front counter and in customer service at the drive-thru window. If you know me, I’m sure you can picture me in a navy blue visor and striped shirt with the golden arches logo. My dear old Dad was so proud! I’m not shy to say I was pretty good at the job. I was awarded Drive-Thru Employee of the Month twice and Employee of the Month – May 1988.

Working at McDonald’s was such great training. I learned procedures, discipline and responsibility. Sure, I was selling Big Macs, but even mopping the floor – there was a process for that – you had to do it the McDonald’s way. It was a fast-paced and structured environment, a great start to working life. My pay packet was also good incentive. I remember working out what shifts I could do to get the best hourly rates so I could buy a fabulous outfit, shoes or put a full tank of petrol in my car.

But what I liked the most about the job was the customers. I came across all sorts – from kids with their fed-up parents, to fast-food regulars and the party goers at 1am who threw pickles on the ceiling in the dining room – I can recall many encounters!

I expect it’s dealing with people in all their diversity that led me to recruitment. I still find them entertaining, to say the least. What’s really inspiring when working with temporary candidates is that sense of satisfaction – the feeling you’ve been able to fulfil someone’s needs when you get them working on one assignment, which leads to the next and the next…

Working with temporary candidates and coordinating temp jobs day-to-day makes me think about all the different types of work people do when they need flexible employment or are just starting out in their careers. It’s fascinating to learn about some of the more unusual opportunities.

Do you have a casual work story that you’d like to share?

Tagged with: , , , , , , , ,
Posted in Professional Support, The world @work

6 blogging brainstorming ideas

Recently my colleague said she wanted to write a blog, but she had no ideas for a topic, how she would structure her thoughts and where to even start?

Blogging gets people talking. When we write about what interests us and what we know, we share our thoughts and invite others to engage in the conversation. Social networks are built on two-way communication, so blogging can actively encourage an exchange of ideas.

So how do you write a blog and how do you come up with material that is interesting?

Here are 6 strategies to get you started and help you succeed.

  1. If you are an avid reader, that’s great, pick a topic that interests you! Books, magazines, news articles, discussion groups… in print or online, you’ll find plenty of inspiration.
  2. If you watch current affairs, there’s plenty of material. Take notes and track comments on Twitter.
  3. Never let a good idea pass you by in the middle of the night. I have a notebook and pencil on my bedside table for those lightbulb moments.
  4. Listen to what your customers (clients and candidates for me) are saying, problem solve the issues, then share.
  5. Look at the stats on what other people are writing about. Google Analytics research is excellent for what’s trending, as well as niche topics.
  6. Share your experiences. People love authentic stories.

Encourage people to comment and always respond to the comments (positive and negative) you receive. You may start a thread that leads to another idea for your next blog from those responses.

While I’m giving away ideas, here’s some I’ve already put on my list:

  • How to be a confident public speaker
  • What is it that engages an audience?
  • All about my community
  • What inspires me about technology
  • Are you brave enough to say what needs to be said?
  • What makes a good conversation?
  • Books I want to write
  • What I am passionate about
  • How do I get my big idea funded?

After thinking and deliberating over my blog topic for many days, things have taken shape. OK, now for the blog…

Well, I’m done here, so will have to wait until next time to tackle one of the topics above, but I challenge you to write on any of those topics as well.

If you do write a blog, please comment on this article to let me know. I’d love to hear your point of view.

Tagged with: , , , , , , ,
Posted in Professional Support, The world @work

Motivation: more insight, less ra-ra

Motivation is a fickle thing. It’s a fleeting, ever wavering state of mind that is constantly preached about at work or in our personal lives. This age old question has been heavily debated and the theories abound, so how do we pinpoint motivation and moreover, what’s the answer to staying motivated?

In its most simple form, motivation is literally the desire to do things. It is the reasoning for our decisions and actions, although we may not always be conscious of it. The difficulty in staying motivated, therefore, does not come from motivation itself. Rather it comes from selecting between the things we desire now and in the future, and deciding which of these we should act on.

The problem is this is where temptation, procrastination and other distractions get involved. What can we do to fight these urges and continue to stay motivated for the right reasons? First we need to work out what type of motivation we are dealing with.

There are two main types of motivation: extrinsic motivation and intrinsic motivation. Both forms are beneficial; however, as you can probably sense, one is more effective at keeping us on track to our goals. Extrinsic motivation arises outside the individual, with behavior being driven by external rewards such as money, prizes and praise. Intrinsic motivation is the opposite, with the drive coming from within the individual. Intrinsically you engage in behaviour that is personally rewarding, such as playing a sport because you find it enjoyable or working hard at your job because you find it challenging and exciting.

I admitted in the beginning of this article that motivation can be difficult to sustain. The short answer to staying motivated in the world @work is to find an intrinsic motivator for the job you’re doing. If that’s not readily achievable, an extrinsic motivator can still help boost your morale and sustain productivity.

Even internal motivation is fleeting and can waiver over time. This is when unexpected external motivators can and should be used to further reward and recognise the work your staff are doing. One of the most effective external motivators you can implement is praising your colleagues regularly. Giving praise is especially beneficial, as it also helps to increase intrinsic motivation, which is the type of motivation most effective at keeping us on track.

Although our tendency is to focus on what tasks still need to be done, you can help motivate others with your positivity, which is another way to keep you motivated too.

What motivates you and keeps you focused? What are some of the motivational strategies that have been effective in your organisation?

Tagged with: , , , , , ,
Posted in Professional Support, The world @work

Humpty Dumpty and the empty swimming pool

Sometimes life throws you curve balls in the most unexpected ways; curve balls that may change how you see the world, show you what you’re made of, or give you a little bit of both. Let me put some context around that.

Five weeks ago, we were having our swimming pool cleaned ready for summer. The pool was emptied, scrubbed and ready to be refilled. I was doing some maintenance around the side of the pool, so to move from one section to the next, I made a small jump onto the edge at the deep end. This proved to be a very stupid decision, I overbalanced and found myself falling into the empty pool.

As I was falling two and a half metres (it’s a very deep pool), I remember a ridiculous number of thoughts going through my mind… this might hurt a bit, but I’ll be fine… I can undo this… what is going to happen, will I get lucky and just have a few bruises, what can I do to minimise the impact? …and funnily, will I need to take Monday off work?

As I landed, I heard some nasty crunches and whilst the pain wasn’t obvious initially (thank goodness for adrenalin), I knew that things weren’t good. My feet were telling me that I couldn’t move. As if this wasn’t challenging enough, I landed in the chemicals that had just been put in for the pool to be refilled. So here I was, all busted up face down in chlorine, lying on the concrete.

I managed to commando drag myself far enough away from the chemicals to be able to breathe and I called for my husband who was, justifiably, in equal measure distressed and annoyed (“What are you doing down there, what the ‘bleep’ have you done?”). Strangely calm, I explained what had happened and asked him to call an ambulance.

Fast forward through the five hours that it took for the ambulance, fire brigade and police to arrive, get me out of the pool, take me to hospital, the x-rays, checks for chemical burns – I was in a pretty bad way. Hypothermic (it was very cold) with a completely shattered left heel and a fractured right heel, my body had gone into shock, which rendered me non-responsive to those around me.

I’ve had a month in hospital, have had my left heel surgically rebuilt, had to learn how to put weight on a broken right heel and practically relearned how to move. For someone who does everything at high pace, having to consciously assess the impact of every movement to minimise the risk of falling again has been incredibly challenging!

It’s been tough, my injuries were serious and it will be up to a year before I can walk normally. However, I’m also fortunate to have been cared for by some incredibly talented medical professionals and an exceptional support network.

I have had some very difficult days where the pain had me not wanting to move, where I’ve relived the accident over and over, which at times causes extreme anxiety. The tiredness has had me emotional and easily distressed. It’s been hard, but going back to the beginning of this story, I have a very different perspective on life.

Considering my every movement has helped me consider the impact of my actions on those around me. I no longer have the expectation that other people value the same qualities in my workplace as I do. Those small things that once irked me in the office don’t seem so important – I realise nothing should be taken for granted.

I’m still determined, focused and strong-willed, because these attributes have helped motivate me to push through and to get back to work. My job is important to me and while there is definitely an element similar to the people on the WorkSafe ads, my head and hands are fine, but for a few months my world @work means adjusting to a different physical set-up while my body gets back to full capacity.

There’s been no epiphany, just a subtle recognition of what really matters. While I wouldn’t wish what happened to me on anyone, I would urge you to take the time to focus on what is truly important. How do you want those around you to perceive you, even remember you? You never know when you’re going to be faced with your own version of an empty swimming pool.

Tagged with: , , , , , , , , ,
Posted in Professional Support