Tips for emerging stronger in 2021 - A collection of lessons from Australian business leaders - Aware Super
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Tips for emerging stronger in 2021 A collection of lessons from Australian business leaders
Contents
03 About Aware Super
04 Forward from Deanne Stewart, Aware Super CEO
05 Lessons learnt in 2020
07 The impact on our people
09 Shifting focus
1 1 Increased momentum on climate change and sustainability
14 O
ur support for employers and their employees
aware.com.au | 1300 118 632 | employers@aware.com.au 2
About Aware Super
We are one of Australia’s largest industry super funds, managing over $138
billion in savings for over 1 million Australians*. We’re proud of having a long
history of delivering strong returns for our members^.
At Aware Super we believe that you don’t have to sacrifice integrity for
performance. Delivering great investment returns for members can be
achieved along with delivering better outcomes for our community. It’s our
commitment to do well for our members at the same time as doing good.
At Aware Super we understand the important role employers play in our
members lives, in terms of their financial security including their retirement
outcomes, as well as their overall wellbeing and happiness. This is why we
partner with over 20,000* Australian employers, just like you, to deliver
superannuation support to your HR and Payroll staff, as well as education,
advice and guidance for your employees.
Over
$138 BILLION 1+ MILLION
Funds under management members
*
As at January 2021
^
Our Accumulation Growth and Balanced Growth options delivered an average return of 7.89% pa and 6.72% pa for the 10 year period ending 30
October 2020, SuperRatings Fund Crediting Rate Survey October 2020, SR50 Balanced (60-76) Index (Growth) and SuperRatings’ SR 25 Conservative
Balanced (41-59) index (Balanced Growth). Investment returns are not guaranteed, past performance is not an indicator of future performance.
3 Tips for emerging stronger in 2021
Message from our
CEO Deanne Stewart
Looking back on the challenges of 2020
2020 was a tough year for Australians – both as
individuals, communities and businesses.
We started the year with horrific fires and an ongoing drought that
pushed many regional Australian families to the brink and caused
devastating damage to our country’s environment.
Just as we thought we were through the worst, COVID-19 hit and
changed our lives. Australians lost their lives and many of us were
either impacted directly by the consequences of the economic crisis, or
know others who were. Our health and aged care sector workers were
put under incredible strain. Our education system also had to adapt,
with many teachers having to start teaching in a whole new way.
Extra strain was placed on parents as they had to juggle work, while
supporting their children learning from home.
Everyday Australians lost work. People in Victoria spent close to six
months in lockdown, and across the country we were all forced to face
unfamiliar and stressful situations, leading to an almost nationwide
increase in anxiety.
For Australian businesses this has also been a challenging time. We’ve
all had to adapt – iteration, agility, digitisation, remote work, care
and compassion – are all concepts that have been critical to ensure
momentum.
As we look to the future, we know that the way we live and work has
changed forever.
How can we look back on 2020 and ensure that our own businesses
and the wider Australian economy emerge stronger?
This question was the central theme to the Aware Super Executive
Forum: Emerging stronger in 2021. I was joined by a panel of industry
and business experts to discuss the key takeaways and lessons from
the challenges of 2020.
We’ve put together this eBook summarising the key points from the
event that we hope you will find valuable.
Deanne Stewart
CEO Aware Super
aware.com.au | 1300 118 632 | employers@aware.com.au 4
Lessons our panel learnt in 2020
Sam Mostyn Susan Lloyd-Hurwitz Damian Graham
Chair, Citi Australia & CEO & Managing Director, Chief Investment Officer
Non-Executive Director, Mirvac Damian oversees the implementation
TransUrban, Sydney Swans Susan Lloyd-Hurwitz was appointed of Aware Super’s investment strategy
Sam Mostyn is a businesswoman and Chief Executive Officer & Managing and a team of investment specialists
sustainability adviser, with a long Director in August 2012 and a Director who manage investment portfolios
history of executive & governance of Mirvac Board in November 2012. across all asset classes.
roles across business, sport, climate Prior to this appointment, Susan Damian brings over 25 years’
change, the arts, policy, and NFP was Managing Director at LaSalle experience managing equity portfolios
sectors. Investment Management. Susan has and investment teams. Between
She serves on the boards of Mirvac, also held senior executive positions 2012- 2016 Damian was Chief
Transurban and is the Chair of Citi at MGPA, Macquarie Group and Investment Officer at StatePlus. He
Australia’s consumer bank. She joined Lend Lease Corporation, working in previously headed up Private Portfolio
the board of the Sydney Swans in Australia, the US and Europe. Management for the Macquarie
2017, after over a decade serving as Group, where he was promoted to run
Susan is the Immediate Past President that business following a successful
a Commissioner with the Australian of the Property Council of Australia,
Football League. tenure as Head of Investment within
Chair of the Green Building Council of the same division.
Sam Chairs the boards of the Australia, a member of the NSW Public
Foundation for Young Australians, Service Commission Advisory Board, Damian has also held senior
Ausfilm, ANROWS (the Australian President of INSEAD Australasian positions within Norwich Investment
National Research Organisation for Council and a member of the INSEAD Management and JP Morgan
Women’s Safety) and Alberts. Global Board. Investment Management.
5 Tips for emerging stronger in 2021
Keep focus on your change A local focus matters
activities Susan Lloyd-Hurwitz
Sam Mostyn ‘2020 has accelerated trends – especially in the workplace
and lifestyle. Urban life has become hyperlocal as we spend
more time in our own neighbourhoods. The value we place
‘As a board member of the Sydney Swans, I witnessed in local business and neighbourhood connections has only
firsthand the disruptive impact of COVID-19. Not only did increased and it has shifted how we view a lot of things,
the loss of revenue we experienced require a significant cut including; working from home, health and wellbeing, and
in operational costs, but we had to completely change our environmental wellness. As leaders we need to recognise
way of doing business. The AFL had to be flexible and adapt this change in our people and look at supporting these
to the changing circumstances, with many people making values.’
sacrifices to keep the game going.
Sam Mostyn
But throughout all this, we couldn’t lose focus on important
change activities, like women in sport. Momentum is so ‘For young people, the role of job networks has drastically
important to ensuring that change activities are successful, changed due to COVID-19. Job networks have needed
so despite the difficult situations we were in, we needed to to move from national constructs to local constructs.
keep pushing for our important change goals’ We’ve seen the need to support the local growth of jobs,
and importantly we’ve seen renewed interest in caring
professions, something that as a society we need to
endeavour to support.’
Ensure your organisations While we have an increased
values and purpose are risk environment, that comes
connected with opportunities
Susan Lloyd-Hurwitz Damian Graham
‘At Mirvac over the last few years we have spent time ‘We have seen the equivalent of four or five years of change
cultivating employee engagement and a culture that was in the last six months and while that creates an investment
strongly aligned to our purpose. Our culture allowed us to environment high in risk, it is also ripe with opportunity.
maintain a caring approach, both internally and externally, This change, while complex, is accelerating growth in
and without it we may not have been able to ensure our certain business areas, including sustainability. Leaders
staff or customers were looked after during COVID-19. This who can identify and take advantage of these changes to
culture empowered our staff to be incredibly supportive to improve their organisational models are well placed to set
our customers and each other, and the positive feedback I themselves up for success in 2021 and beyond.’
received in very difficult circumstances really highlights the
value of building a culture based on care.’
aware.com.au | 1300 118 632 | employers@aware.com.au 6
The impact on our people
2020 was a tough year and one that’s certainly led to an increased level
of anxiety for many of us. Some Australian’s have been fortunate to secure
and maintain employment, however despite this, our environmental
stressors, fuelled by uncertainty have never been higher. As Australians
we’ve been faced with:
increased job uncertainty,
•
economic headwinds,
•
altered ways of working,
•
increased mental health issues,
•
first hand impacts of climate change.
•
7 Tips for emerging stronger in 2021
It’s important to remember that these impacts
are felt differently by our people. Some may
manage stress well, while for others, 2020 may
have pushed them to the brink. Ensuring that
you take time to reflect before making decisions,
It’s been an uneven impact on our people while being empathetic to how your people are
feeling emotionally and how far they can be
Damian Graham stretched is important for any leader in 2021.
Mental Health and physiological safety
There’s no doubt that the mental health of our people was
put to the test this year. A key learning of 2020 is that
employers play an important role in creating a supportive I attended the “Building a psychologically
environment that protects the mental health of employees. safe workplace” webinar, which had
This not only supports the wellbeing of employees but helps many practical and inspiring ideas for
to create a more engaged and productive workforce. assisting team members to feel safe to
speak and share their ideas. At a time
At Aware Super, in the face of this pandemic, we extended
when our team is undergoing significant
our internal wellbeing program to our employer partners,
change and morale is low, it was
offering access to wellbeing webinars to all their staff.
important to be reminded that keeping
Across six months and three distinct programs we reached
staff motivated can be simple
over 5000 employees who joined sessions that covered
topics such as resilience, budget management, leading Webinar attendee, DPV Health
through change and much more. These programs focussed
on supporting our employer partners and their staff to
manage the difficult challenges we all faced this year.
The changing face of personal interactions and
connections
As many organisations have had to move online, the way we
interact has changed. This is full of positives and negatives.
Don’t forget the value of informal With working from home comes a renewed connection
relationships in an online world – find with family and neighbourhood and many of our staff
ways to encourage these connections commented on how valuable it was for them to be home
in your workplace with their family during this time.
Deanne Stewart But alongside this positive comes the challenge of
building and maintaining culture without the face-to-face
interactions that we are used to in the workplace.
The importance of regular formal communication from
management has never been more important given all
the changes we have faced, but additionally, we’ve seen
an increase in the value of more informal communication;
whether that’s through regular team catchups, virtual
coffees or lunches or online team events.
aware.com.au | 1300 118 632 | employers@aware.com.au 8
Shifting focus
As leaders we need to reflect on the challenges we have
faced and focus on the learnings and opportunities that
have presented themselves, so that we can support our
staff, strengthen our operations and embrace 2021 with
new resolve.
The shift to a caring economy Fostering connections and trust
Despite the difficult times we’ve been through, we’ve seen Empowering your teams to succeed means trusting
the power of caring both personally and as an organisation. them to make the right decisions. As connections
As leaders, caring for your staff, your customers and the become harder to make and communication becomes
impact your organisation has on the community has never more complex in a more virtual world, having decision
mattered more. bottlenecks in your organisation can slow you down and
make you less agile.
Consider ways to build the skills and knowledge across
your organisation to allow for decisions to be made
without significant signoff processes or hierarchical
structures.
Caring for, and looking out for, the
wellbeing of your team or community
really matters.
Deanne Stewart
Distribute power within your
organisation
Susan Lloyd-Hurwitz
Focus on positive outcomes and small blessings
There’s always a positive story if you look for it.
Focussing only on the negative will lower workplace
motivation and engagement. Finding the positives in
difficult situations, for example, balancing the isolation
of working from home with the benefits of being home
when the kids come back from school, will help staff
to shift their view and refocus their energy.
9 Tips for emerging stronger in 2021
Make decisions based on values Financial education and support
When making business decisions, ambiguity may foster poor With the economic uncertainty of the last 12 months and
judgment and lead to errors based on unclear information, the financial strain many Australians have faced, financial
but if our decisions align with our values and those of our related stress has only increased for many. Working with
organisation, damage can be minimised. Even in situations, our employer partners, we run a range of financial education
such as those faced in 2020, if as leaders, we can make workshops and webinars and offer one on one general
decisions that align with our organisational values, we can advice appointments to help our members and non-members
set ourselves up for success. understand their options.
Creating an enticing work environment
As we start to return to work, we need to consider how
to make the workplace as inviting to return to as possible.
While some staff may be excited to come back to the office,
others may have settled into a comfortable routine, with
no commute and more time to spend with their family. Helping staff to feel empowered is key
It’s important that coming back into the workplace is seen
Damian Graham
by staff as foundational for the building of a strong team
culture, positive for high engagement and healthy for team
collaboration. It is worth considering how to make the return
to office a great experience for your people in 2021.
At Aware Super we have created Employee Experience
Tribes. These tribes are groups of people who come
together to be a force for good within our organisation.
The tribes enhance the human experience of being at work
and strengthen our culture. They provide employees with
an opportunity to make a difference in ways that matter to
them, while connecting with a diverse mix of people from
across the organisation, who care about similar issues and
want to make a difference.
aware.com.au | 1300 118 632 | employers@aware.com.au 10Increased momentum on climate
change and sustainability
We can’t lose sight of our changing climate and the
devastating impact of both drought and bushfires
experienced in 2020. These have left a legacy that will
continue to challenge us all as we move into 2021.
Climate change will continue to drive many of the
decisions we make and represents the need for action Our society and the planet are pretty
today, tomorrow and well into the future. fragile… we came off bushfires, floods
and pestilence. This has sharpened
people’s awareness of the importance
As one of Australia’s largest superannuation funds with over $138 of not just climate change and
billion in funds under management*, we know how important climate sustainability from an environmental
change and social responsibility are to delivering strong long point of view, but from a social
term returns and we have seen just how much the conversation responsibility point of view.
has changed among investors. Climate change is now a central
consideration to many of the investment decisions being made Susan Lloyd-Hurwitz
today. Around the world investors are recognising the importance
of a range of environmental and societal actions companies take
and how this impacts many industry’s performance and the returns
they can earn.
Three topics that have never been more
important for investors are;
Sustainability
Diversity
Innovation
11 Tips for emerging stronger in 2021Embedding these values into your
STEP 2 Set hard targets and take action
organisation’s culture
We set a range of targets in our role as an investor, but
To live and breathe these values requires more than just It’s also important to look at ESG targets in your own
lip service. There is a real difference between ”green organisation. The below activities are what our Corporate
washing” and a true commitment to sustainability, diversity Responsibility team believe can help you establish your
and innovation. Is it time to truly reflect on how embedded organisation’s internal targets..
these values are in your organisation?
Undertake a carbon inventory
Taking steps to embed these values Understand and analyse your carbon footprint by
in your culture undertaking a carbon inventory of all of your sites. This will
STEP 1 Talk about it everyday provide you with your current carbon footprint. Purchase
carbon offsets to offset your current footprint and set
Sustainability targets cannot just be something the sits in future goals to reduce your carbon footprint over time.
a board report, they need to be shared with all employees
and embedded in departmental thinking. This means
Establish your recycling output
practicing top down messaging tactics, like including
sustainability, diversity and community values in your Take time to understand your recycling output. By doing
mission and vision statements. this you should be able to identify if you need to make
more or different kinds of recycling bins available to staff,
You also need to make the messaging ever present. You
engage in staff education on the topic or to build recycling
can do this by including signs/posters in the workplace
requirements into your project plans.
that remind staff of your values and sustainability/diversity/
community goals. For the new world of remote work,
you can look to set company branded screensavers that Understand your supply chain
promote value aligned key messages. The reinforcement of If your organisation is truly looking to understand your
these messages can flow through to your company intranet environmental and societal impact, it’s important you
as well. review your supply chain. Ensuring your suppliers meet key
Doing simple things like ensuring you have proper recycling sustainability metrics, don’t engage in modern slavery and
bins in your workplaces is also a good way to make a act in an ethical manner can ensure your organisation is
small (but valuable) contribution towards making an acting sustainably.
environmental difference. Being able to articular clearly
what is important to your organisation will only strengthen
buy-in from your staff and contribute towards achieving
organisational and cultural goals.
aware.com.au | 1300 118 632 | employers@aware.com.au 12STEP 3 Foster awareness and engagement
with your employees
The Community and Sustainability Tribe at Aware Super is
one of our four founding Employee Experience Tribes. These
tribes are designed to allow our employees to actively
engage with the organisation, having a real impact on our
employee experience.
The Community and Sustainability Tribe aims to be a force
for good internally and externally through sustainability
and social initiatives. By fostering an environment with a
focus on our community and sustainability the tribe delivers
stronger outcomes for our members, lives our purpose and
contributes to our responsible ownership strategic pillar.
The tribe aims to give back to the community that our
members live, work and retire in and have a positive impact What does Aware Super do?
on the environment and society. By creating this tribe, we
We believe that we must deliver strong sustainable returns
have been able to embed our values in the actions taken by
for our members at the same time as investing in better
corporate Australia and state governments are leading the
outcomes for society. This is a belief we’ve held for over
action on climate change.
10 years and one that has resulted in a number of industry
firsts – including investing in affordable housing for essential
workers and divesting from tobacco.
We know that climate change is one of the most significant
Corporate actions matter long-term financial risks to our portfolio – and therefore our
members’ retirement outcomes. That’s why we developed
The actions taken by corporate Australia and State our Climate Change Portfolio Transition Plan. It’s a roadmap
Governments are leading the way in sustainability. The to transition our portfolio to a low carbon economy and
progressive targets set by corporate entities and by several protect our members’ retirement savings now and into the
of Australia’s State Governments are helping us to build future. The key features of our roadmap include:
back better in 2021.
• Achieving net zero emissions by 2050
• A minimum 30% reduction in the carbon footprint of
our listed equities portfolio by 2023. A target we have
already achieved.
• Advocating for an economy-wide 45% reduction in
greenhouse gas emissions by 2030.
• Divestment from businesses earning over 10% of their
revenue from thermal coal mining by October 2020.
• Investing in companies with genuine renewable and
clean energy targets:
- Energy to 140,000 homes, and the offsetting of
700,000 tonnes of greenhouse gas emissions per
year through Snowtown 2 – one of Australia’s largest
windfarms.
- Powering Australian Renewables Fund “PARF” – when
fully commissioned the existing PARF assets will create
enough renewable energy for 465,000 homes per year.
- Solar, wind and hydro energy investments in Latin
America for 500,000 homes, while empowering local
communities with skills and education.
1
As at October 2020
13 Tips for emerging stronger in 2021Aware Super partners with employers to support
them and their employees
Support for your employees Support for employers
As a top 10 performing fund, with low fees and strong 3
We believe in the important role financial education and
returns4, we endeavour to not only do well for our members, advice play in supporting our members, which is why we
but the community they live, work and retire in. This is why partner with employers to provide customised workplace
we invest responsibly in Australia in areas that matter to and online training and support across a wide range of
our members. superannuation and finance topics.
Renewable energy Employees
Infrastructure HR and Payroll teams
Essential worker affordable housing Organisations
Our Employer Relations team also support our partner
employers with functional advice on superannuation
payments, reporting and requirements. We also offer a
clearing house free of charge for registered employers.
2
Returns for the Aware Super Growth (MySuper) investment option were in the top 10 for the 1, 3, 5 and 10 year periods, and in the top quartile for the 7 year
periods, as published in the SuperRatings Fund Crediting Rate Survey (SR50 MySuper Index) for 30 October 2020. Past performance is not a reliable indicator
of future performance.
3
The total annual fee (inclusive of admin and investment fees) for our Accumulation Growth option is 1.04% p.a the industry average is 1.39% p.a Chant West
Super Fund Fee Survey, September 2020, based on a $50,000 balance in a Growth option.
4
Our Accumulation Growth and Balanced Growth options delivered an average return of 7.89% pa and 6.72% pa for the 10 year period ending 30 October
2020, SuperRatings Fund Crediting Rate Survey October 2020, SR50 Balanced (60-76) Index (Growth) and SuperRatings’ SR 25 Conservative Balanced (41-59)
index (Balanced Growth). Investment returns are not guaranteed, past performance is not an indicator of future performance.Want to find out more about Aware Super’s
support for employers?
Visit aware.com/employer or
Contact your Relationship Manager or our Business Development team on 03 9683 6335 or 0457 251 368
or email Claire McAlinden at Claire.mcalinden@aware.com.au.
Your support network
at Aware Super
Australia-based call centre
over 100 local Superannuation Advisors
to support your employees
7 walk-in member centres
Over 40 locations Australia-wide
With our support and advice, you and your Employer Relations team
employees can feel future ready.
Dedicated super administration, contributions
We’re here to make it easy for you and your and technical support:
employees to manage all aspects of super –
employers@aware.com.au
and so much more.
1300 118 632
To partner with Aware Super as your default
provider, or find out more about the additional
value we offer, please get in touch. We’d love
to discuss your organisation’s and employees’ Member service centre
needs.
Connect your staff with the information
and support they need:
enquiries@aware.com.au
1300 650 873
5
See our industry awards at aware.com.au/awards
This is general information only and does not take into account your specific objectives, financial situation or needs. Seek professional financial advice,
consider your own circumstances and read our product disclosure statement before making a decision about Aware Super. Call us or visit our website for a
copy. Issued by Aware Super Pty Ltd ABN 11 118 202 672, AFSL 293340, the trustee of Aware Super ABN 53 226 460 365. Financial planning services are
provided by our financial planning business Aware Financial Services Australia Limited ABN 86 003 742 756, AFSL No. 238430. Aware Financial Services
Australia Limited is wholly owned by Aware Super.You can also read
