BCG Australia and New Zealand commit to ‘Raising the Bar’
For twenty years, BCG has been committed to supporting and engaging indigenous businesses to create opportunities for Aboriginal and Torres Strait Islander peoples. We are delighted to become a member of Raising the Bar—a Business Council of Australia initiative that is helping to create the social and economic conditions in which Aboriginal and Torres Strait Islander people all over Australia can prosper and thrive. As part of this initiative, BCG has committed to spend 3% of our influenceable spend on indigenous businesses over the next five years, contributing to a collective spend of more than $3 billion by Raising the Bar members.
Companies in Australia invest both time and money in diversity initiatives, yet most employees in diverse groups—women, ethnically diverse individuals, and LGBTQ employees—say they have not benefited. A key problem: the leaders at most organisations don’t understand the real-world obstacles that diverse employees face. These companies can start making real progress once they focus on the initiatives that diverse employees themselves say are effective. New BCG analysis, based on a comprehensive worldwide survey, shows how.
While Australia is at the leading edge of digital device adoption, online purchasing lags behind many other nations. Twenty to thirty percent of consumers continue to research online but purchase offline. BCG’s research suggests that the drop-off at the purchase stage is due to underinvestment in seamless end-to-end digital offers. While this suggests significant untapped potential for retailers, there are specific instances in digital purchasing journeys when consumers still desire human touch. Our research also reveals a paradox of trust: consumers increasingly desire offers that cater to their personal needs, but also seek greater control over their personal data.
Striving toward Total Societal Impact in Australia
A growing body of research, including recent work from BCG, has proved there is a strong correlation between a company’s impact on society and its Total Shareholder Return. We call this Total Societal Impact (TSI). How do Australian companies perform compared with the rest of the world?
The Boston Consulting Group Pty Ltd (BCG) supports the Australian Government’s objective for corporations to provide additional information to assist the public to understand their tax contribution and compliance with Australia’s tax laws. BCG has signed up to the Voluntary Tax Transparency Code (TTC).