Australian businesses’ generation problem; Death of former pharmacy head: Midday Roundup

Half of business owners don’t have any generation-specific talent management strategies, adding to the headaches already caused by the multi-generational makeup of Australia’s workforce, according to a study published today.

This is one of the main findings in Chandler McLeod’s latest whitepaper, Talent Management: The next wave, which surveyed 233 senior managers, leaders and specialists and 287 employees across Australia and New Zealand to gain their insights into talent management.

Responses show that both employers and employees believe failure to implement a generation-specific talent management strategy is the biggest mistake businesses make in managing a multi-generational workforce.

“Our research found although 17% of employers believe social media is an effective strategy to manage Generation Y, only 1% of Generation Y saw this as effective in practice,” Chandler McLeod’s head said.

Former national president of the Pharmacy Guild of Australia, Jim Matthews, dies

The former National President of the Pharmacy Guild of Australia and Honorary Life Member, Jim Matthews OAM, has passed away in Sydney.

He was first elected to the Guild’s National Council in 1970. During his term as national president he led community pharmacy towards what would become the first of the modern Community Pharmacy Agreements.

Matthews was a NSW branch president of the guild and served as national president from 1982 until 1990.

The national president of the guild, George Tambassis, says: “All at the Guild salute the commitment and dedication of Jim Matthews who worked so hard to make community pharmacy the vibrant and crucial health resource it is today.”

A funeral for Matthews will take place at St Patrick’s Catholic Church, Kogarah next Monday November 3 at 10.30am.

Share market recovers

The ASX200 was up 16.2 points, or 0.3%, to 5468.8 points at 11:44 AEDT. The Dow Jones closed up 187.81 points, or 1.12%, to 17005.8 points overnight.

CMC Markets chief market analyst Ric Spooner says the US profit reporting season continues to underpin the rapid recovery in world stock markets seen over the past two weeks.

“Weaker oil prices and a better than expected read on Consumer Confidence point to a scenario in which consumers will have more in their wallets plus the confidence to spend it on discretionary items,” Spooner says.

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