Looking to the future of work

New research suggests employees will see changes in their workplace as companies begin to future-proof their businesses.

The recently released Future of Work Report¹ conducted by the Chamber of Commerce and Industry Queensland (CCIQ), aims to help business owners plan for future work trends and impacts. The report is based on survey findings from more than 500 businesses across Queensland on topics ranging from superannuation to work-life health and wellbeing.

Super trends

Regarding super, more than half of the business owners surveyed (55%) agreed that ethical investing had become increasingly important.

The report also found:

• A third of respondents (33%) want their super fund to support community organisations,
• More than half (56%) are concerned about funding their retirement,
• A majority (72%) had received financial advice, and
• More than half (57%) see the value in financial advice; however, the cost was a concern for a third (33%) of the group.

The Future of Work Report also found that workplace mental health and wellbeing was a high priority for business owners.

More than 70% of those surveyed said supporting employee mental health and wellbeing was their top work-life concern, with more than a third (37%) of businesses expecting mental health and wellbeing in the workplace to have a significant to critical impact on their business.

While many businesses are already implementing mental health support in their operating models, ongoing, accessible mental health support was needed across all business sizes, industries and regions in Queensland, the report stated.

A recent study from PwC Australia, What Workers Want,² revealed that it’s become more common for employees to consider work as a source of social support with:

• More than one-third of Australian workers (37%) considering their employer as their main source of mental health support, and
• Nearly a quarter of workers (22%) valuing employer support for their wellbeing above all other factors.

The study also showed employees now expected their employers to provide workplace mental health and wellbeing support with initiatives such as Employee Assistance Programs (EAP), social opportunities and financial wellbeing programs.

We’re here to help, as always

Having a QSuper account means it’s easy to take charge of your super. You have an experienced team ready to help you make informed, confident decisions.

1. Chamber of Commerce and Industry Queensland, The Future of Work Report, accessed 28 October 2022 at cciq.com.au
2. Price Waterhouse Coopers, What workers want, accessed 28 October 2022 at pwc.com.au

This information and all QSuper products are issued by Australian Retirement Trust Pty Ltd (ABN 88 010 720 840, AFSL 228975) (Trustee) as trustee for Australian Retirement Trust (ABN 60 905 115 063) (Fund). Any reference to "QSuper" is a reference to the Government Division of the Fund. This is general information only, so it does not take into account your personal objectives, financial situation, or needs. Before acquiring or continuing to hold any financial product, you should consider whether the product is right for you by reading the relevant product disclosure statement (PDS). The PDS and Target Market Determination (TMD) for QSuper products are available at qsuper.qld.gov.au/pds or call us on 1300 360 750 to request a copy. Where necessary, consider seeking professional advice tailored to your individual circumstances.