NAB staff threaten to quit after bank jumps on major work trend: 'They will walk'
NAB has asked staff to increase the number of days they spend in the office each week. The bank has joined a growing number of businesses moving away from the work-from-home model (WFH), however, the move has left many upset.
Staff were told about the directive via an internal memo, which will impact junior workers and team leaders. Finance Sector Union national president Wendy Streets has slammed the decision as "completely unnecessary".
'People are not prepared to turn back the hands of time. They've found a new, fairer, more efficient way of working, they're not going to be dragged back to the past," she said.
RELATED
Major WFH update for Aussie workers: 'Isn't going anywhere'
Common $358 a day expense the ATO lets you claim on tax without receipts
Money crisis sparks capital city exodus as Australians embrace 'new frontier'
According to the Australian Financial Review, when the announcement was made last week on the bank's internal messaging system, it was hit with hundreds of shocked, angry and broken heart emojis, indicating staff were not happy about the decision.
NAB senior executive Sarah White said the bank was "evolving" its policies to focus more on an "office-based working model" because it supports "collaboration, teamwork and problem solving for customers".
Junior staff will increase their in-office days from two to three days a week, while team leaders will go from three to four.Senior NAB leadership were forced to come into the office five days a week last year and their attendance is unchanged.
But Streets said this increase could cause shockwaves for the Big Four bank and "damage the very culture NAB claims to value".
'We don't believe there is any business case for staff to return to the office more,' she said.
'A lot of members are telling us they will walk and they will leave."
Westpac currently has a minimum of two days a week in the office for staff, while ANZ and Commonwealth Bank workers have to come in for half of their rostered days.
This is part of a much broader move in the Australian corporate landscape.
Amazon, Tabcorp, Woolworths and Coles are some of the other major employers that have recently ordered workers back into the office.
The Australian HR Institute (AHRI) recently found that 45 per cent of employers now have a minimum requirement for staff to be in the office between three to five days a week.
More than 80 per cent of the nearly 1,000 people surveyed expected hybrid working would either increase or stay the same at their organisation over the next two years.
The most popular work arrangement was three days in the office at 32 per cent.
Interestingly, Robert Half's survey of 500 employers found there had been a 'domino effect' in this return-to-office (RTO) trend.
An overwhelming majority (84 per cent) of employers said other businesses' RTO mandates influenced their own arrangements.
But Angela Anasis, Executive General Manager of Randstad Australia, told Yahoo Finance workers across the country are digging in their heels at this push to return to the office.
'Given people are prepared to walk away from a job if they're forced back into the office, employers should carefully consider how to incentivise attendance, focusing on the carrot rather than the stick," she said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
6 hours ago
- CNBC
Starbucks and Luckin are vying to win the coffee wars. I tested both out
Here's my first dilemma of the day: the new Luckin Coffee near my office in Hong Kong wants me to download their app for a $2 drink. Without it, it's $3.75. Fine. I register, get a WhatsApp code and scroll through their menu: fruity Americanos, a seasonal kale tea and the coconut milk latte — a bestseller with five sweetness levels. The menus are . This coconut comes from Luckin's own grove in Indonesia, it says, blessed by volcanic ash and ocean nutrients. The milk is cold-pressed within four hours of cracking the fruit open. Sure, Luckin. I click iced, no added sugar. Luckin, China's largest coffee chain, is betting its kaleidoscopic offerings and clever pricing can take on Starbucks globally. The chain landed in Hong Kong late last year and now has a dozen stores across the city. This branch alone has seven other coffee shops nearby, including Cotti Coffee, a rival founded by former Luckin executives (who were ousted over an accounting scandal that got Luckin delisted from Nasdaq. But that's another story). Cotti just opened stores in New York, and Luckin is set to follow. I try paying with credit card instead of Chinese e-payment options, but that means entering my billing details and address in-app. Too much work. I bail and use the kiosk instead at the higher price. Still need to input my phone number though. My 16-ounce drink promptly arrives. Chestnut brown in color, my first sip is bitter and refreshing. One stir with the paper straw and it turns pale blonde, the coconut's silky, nutty sweetness taking over. After a few more compulsive sips, it gets heavy. Mainstream coffee culture is converging globally, and Luckin is making it more digital, efficient — and gimmicky. Their basics — black coffee, oat milk latte — hook customers looking for a cheap caffeine fix (they cost roughly $2 each in Asia). Here, Starbucks has no real edge. "It comes down to value for money," an Australian buying a mocha from Luckin tells me. Office workers stream through, grabbing drinks pre-ordered on the app. Few linger. Andy Chan, 38, emerges from the nearby subway station and picks up his usual Americano en route to the office. "It's normal," the IT worker says of the quality. "And quite a bit cheaper than Starbucks." Hours later, I walk to the Starbucks down the block. Patrons are on their laptops or deep in conversation. Similar to Luckin, the drink offerings rotate through supposedly regional flavors, like matcha latte with tofu pudding. This branch just went cashless, notable in cash-stubborn Hong Kong. I order a yuzu cold brew, which is more like citrus slushy dunked in coffee. Nearly $6 for 12 ounces feels steep after Luckin, but the sign says the cold brews are steeped for 20 hours. I ask for a glass after the barista automatically reaches for a paper cup. The flavors click into focus once the sweet, herbal ice crystals soak up the coffee. As someone who usually drinks black coffee or a flat white at most, my two caffeinated desserts today have me wired. Businesses say they reward loyalty. Starbucks' take is getting you to lend them money while locking you in. The Seattle-based chain sits on $1.85 billion from its stored-value cards and loyalty programs as of the first quarter this year. A portion typically goes unredeemed — turning into revenue. Sales have been declining, but Starbucks has tapped interest-free capital this way for years. If Starbucks is acting like a bank, Luckin is like the startup gunning for scale. With coffee prices rising, chains like Luckin are grabbing market share through high turnover and compact spaces that drive down costs. Some people want the coffeehouse theater; others prize convenience and live digitally. Out of the latter, Luckin is building a treasure trove of data. Viral stunts like its Moutai liquor-infused latte help (I wouldn't try their kale tea, but this I would). Luckin launched nearly 120 items in 2024 alone, likely keeping Starbucks' Asian R&D teams up at night. Coffee is splintering into different worlds. You can get a pricey pour-over with wine-like tasting notes, an espresso at a historical cafe, a cortado at a boutique spot, or a boba-like latte at one of Luckin's 20,000+ outlets. Luckin may be turbocharging coffee fads with its dizzying flavor rollouts, but its core market of price-sensitive consumers aren't going anywhere. The future has room for different models — there are enough caffeine addicts and social drinkers to sustain various empires. But there's no denying the pressure is on incumbents like Starbucks to refresh their identity before third space becomes third choice.
Time Business News
8 hours ago
- Time Business News
The Evolution of Home Cooking: How Modern Kitchen Technology and Professional Stove Services Are Transforming American Kitchens
The American kitchen has undergone a remarkable transformation in recent years, evolving from a simple cooking space into a sophisticated culinary command center that reflects changing lifestyle priorities and technological advances. As home cooking experiences a renaissance driven by economic considerations and wellness trends, the demand for reliable kitchen appliances and professional maintenance services has reached unprecedented levels. This evolution has created new opportunities for both homeowners seeking to enhance their culinary capabilities and service providers specializing in appliance repair and maintenance. The trend toward home cooking has gained significant momentum, with nearly half of Australians (46%) continuing to cook more at home than in previous years, representing a persistent shift that began during the pandemic and has become a permanent fixture of modern living. This movement has spurred a 25% increase in demand for small kitchen appliances as consumers invest in enhancing their home cooking setup. Research indicates that 86% of eating occasions are now sourced from home, with consumers eating 116 more meals at home during the past year compared to pre-pandemic levels. The economic drivers behind this trend are substantial and multifaceted. Global food trends research shows that two-thirds of consumers report spending more on food and beverages in the past year because of inflation and higher prices. With dining out costing four times more than eating at home, many families are cutting back on restaurant visits and investing instead in their home cooking capabilities. Despite easing inflation, consumers continue to face the cumulative impact of several years of rising prices and ongoing economic challenges. The kitchen appliance market is experiencing robust growth, with projections indicating expansion from $247.02 billion in 2024 to $392.51 billion by 2033, representing a compound annual growth rate of 5.28%. This growth is driven by increased urbanization, health and wellness trends, technical improvements including smart appliances, rising disposable incomes, and growing demand for convenience and time-saving, energy-efficient products. Smart technology integration has become a defining characteristic of modern kitchen appliances. The global smart kitchen market is expected to grow from $5.3 billion in 2023 to over $14 billion by 2030, with Asia leading in adoption at a compound annual growth rate of 20 percent. These appliances feature sensors and networking capabilities that allow remote control via smartphone apps, with voice recognition technology becoming increasingly popular as it enables users to give commands to their appliances, improving convenience and elevating kitchen operations. Induction cooking has emerged as a dominant trend in modern kitchen design, with the induction cooktop market envisioned to thrive at a strong compound annual growth rate of 8.3% from 2024 to 2034. This technology offers several advantages over traditional gas and electric cooking methods, including improved safety since the magnetic surface isn't hot to the touch compared to gas or electric cooktops, and reduced energy consumption versus using electric or gas appliances. The adoption of induction cooking is steadily rising due to consumer health consciousness and growing worries about indoor air quality, as induction cooking generates fewer emissions than standard gas or electric burners. Urbanization and shifting lifestyles spur demand for induction cooktops that integrate contemporary kitchen design, especially among Gen Z and millennials. More appliances are incorporating induction technology and moving away from gas and electric options, making them increasingly prominent in the 2024 market. The increasing complexity and value of modern cooking appliances has created substantial demand for professional repair and maintenance services. The kitchen appliance repair and maintenance services market was valued at approximately $5.7 billion in 2024 and is forecasted to grow at a compound annual growth rate of 4.6% from 2026 to 2033, reaching $8.1 billion by 2033. According to the U.S. Bureau of Labor Statistics, there was a notable 8% increase in demand for repair technicians in appliance maintenance in 2022, reflecting the industry's growth potential. Several factors contribute to this growing demand for professional repair services. The aging of existing appliances, economic conditions that encourage repair over replacement, and advancements in appliance technology that require specialized knowledge for repairs all play significant roles. Additionally, busy lifestyles lead people to seek out professional repair services rather than attempting do-it-yourself fixes. The COVID-19 pandemic led to an increased focus on home living, with many people spending more time at home, resulting in greater use of household appliances and subsequently greater need for repairs. Professional repair services address a wide range of issues affecting both gas and electric cooking appliances. Gas stoves commonly experience problems including faulty igniter issues that prevent burners from lighting, often caused by wear and tear or residue buildup. Gas leaks from damaged or loose gas lines or connections represent serious safety concerns requiring immediate professional attention. Clogged burners from food debris and grease can cause uneven or weak flames, while valve malfunctions can prevent gas flow entirely. Electric stoves present their own unique challenges, with heating element failures being among the most common issues. If one electric burner stops working, technicians recommend testing all burners, as complete failure across all units typically indicates an electrical supply problem requiring professional diagnosis. Induction cooktops face specific challenges including power supply problems that prevent the unit from turning on, incompatible cookware issues since induction stoves require cookware with magnetic bases, and unresponsive touch controls that may require professional calibration. For professional stove repair services, technicians must understand both traditional mechanical systems and modern smart appliance features, as the complexity of contemporary cooking appliances requires specialized diagnostic equipment and expertise. Similarly, cooktop repair specialists must be familiar with various technologies including gas, electric, and induction systems, each requiring different approaches to diagnosis and repair. The repair landscape differs significantly between gas and electric cooking appliances, affecting both cost and complexity of service calls. Gas stoves are generally simpler in design, making them relatively straightforward to repair, with average repair costs typically ranging from $50 to $300 depending on the issue. Most expensive repairs involve replacing gas lines or valves, though these are less common, while affordable fixes include cleaning burners, replacing igniters, or adjusting pilot lights. Electric stove repairs tend to be more complex and costly, with average repair costs ranging from $100 to $500 due to the complexity of parts. The most expensive repairs involve replacing control boards or cracked glass surfaces, while more affordable fixes include replacing heating elements or repairing loose wires. Repairs for gas stoves are generally easier and faster because of their mechanical nature, with many issues such as cleaning clogged burners or replacing simple components being relatively straightforward. The integration of artificial intelligence and machine learning into kitchen appliances promises to further revolutionize home cooking and repair services. Modern appliances increasingly feature Wi-Fi connectivity, smartphone apps, and integration with home automation systems, creating new demands for technicians who must understand both traditional repair methods and modern digital diagnostics. Smart diagnostics technology enables appliances to communicate directly with service companies, providing detailed error information before technicians arrive, which reduces diagnostic time and ensures appropriate replacement parts are brought to service calls. By 2035, over 60 percent of urban households in developed economies are expected to have at least one AI-integrated kitchen appliance. These advanced systems can optimize cooking procedures, adjust to user preferences, and even recommend recipes based on available ingredients, but they also require specialized knowledge for maintenance and repair. The trend toward predictive maintenance is particularly valuable for busy households, as smart appliances can identify potential problems before they cause complete failures, allowing homeowners to schedule convenient maintenance appointments. Economic considerations play a crucial role in consumer decisions regarding appliance maintenance versus replacement. The rising cost of new appliances makes repair services increasingly attractive, especially for minor issues that can extend appliance life significantly. Choosing appliance repair over replacement provides several benefits including cost-effectiveness that allows homeowners to save money, extended appliance lifespan, promotion of sustainability by reducing waste, and minimization of disruption caused by purchasing and installing new units. Consumer spending patterns indicate a growing preference for repair services, particularly as appliance prices are expected to increase by 2.2% in 2024, making many consumers prefer to hold on to their appliances and repair them instead of upgrading after they break. The average American family spends approximately 52 minutes preparing dinner regardless of whether they use convenience foods or cook from scratch, suggesting that time savings from modern appliances come not from reduced preparation time but from enabling more complex meals with additional dishes. This increased complexity in home cooking creates greater demands on appliances and consequently increases the importance of reliable repair services. Environmental consciousness is increasingly influencing both appliance selection and maintenance decisions. The longevity of high-quality cooking appliances, when properly maintained, makes them environmentally responsible choices compared to frequent replacement of lower-grade appliances. Professional repair services that focus on extending appliance life rather than promoting replacement contribute to reduced environmental impact, supporting broader sustainability goals. Energy efficiency considerations play a crucial role in appliance maintenance decisions. Modern cooking appliances feature improved insulation, energy-efficient heating elements, and smart controls that minimize power consumption while maintaining optimal performance. These features align with environmental regulations and appeal to environmentally conscious consumers who value both performance and sustainability. Smart cooking appliances can optimize energy usage by learning cooking patterns and adjusting operation accordingly, providing both environmental and economic benefits. The appliance repair industry is experiencing significant transformation driven by technology, sustainability, and changing consumer preferences. More homeowners are opting for repairs instead of replacement to save money, reduce waste, and conserve resources. Technicians are now required to be well-versed in both traditional repair methods and modern digital diagnostics, with growing emphasis on sustainability as many consumers prioritize the repairability of appliances before purchasing. The air fryer has emerged as the UK's top cooking method, with over a quarter (27%) choosing it as their favorite appliance, and well over half (58%) of UK households now owning an air fryer. More homes now have an air fryer than a slow cooker (47%) or even a toastie maker (41%), demonstrating rapid adoption of new cooking technologies. This trend toward diverse cooking appliances creates additional opportunities for specialized repair services as households accumulate more sophisticated equipment requiring professional maintenance. Professional appliance repair services must maintain high safety standards, particularly when working with gas appliances that present potential hazards. Gas stove repairs require more safety checks due to open flames and potential gas leak risks. Professional technicians use advanced leak detection tools to identify and fix leaks efficiently, ensuring leak-free, secure connections for worry-free cooking. Safety protocols include comprehensive testing of ignition systems, gas valve operation, and ventilation adequacy to prevent dangerous conditions. The importance of professional service extends beyond simple repairs to include preventive maintenance that can significantly extend appliance lifespan and improve efficiency. Regular professional maintenance can identify and address potential issues before they lead to complete appliance failure, while also ensuring optimal energy efficiency and safety compliance. Professional service companies maintain extensive parts inventories and specialized diagnostic equipment necessary to service the increasingly complex appliances found in modern kitchens. The evolution of home cooking and kitchen technology represents a fundamental shift in how Americans approach food preparation and appliance ownership. As economic pressures encourage more home cooking and technological advances create increasingly sophisticated appliances, the demand for professional repair and maintenance services continues to grow substantially. The combination of rising appliance complexity, environmental consciousness, and economic considerations creates a robust market for specialized repair services that can extend appliance life while maintaining optimal performance and safety standards. The future of kitchen appliances and repair services will likely be shaped by continued integration of smart technology, growing emphasis on sustainability, and evolving consumer preferences for repair over replacement. Professional service providers who adapt to these trends by developing expertise in both traditional and smart appliance technologies will be well-positioned to serve the growing market of households seeking to maximize their kitchen equipment investments while maintaining the culinary capabilities that have become central to modern home life. TIME BUSINESS NEWS
Yahoo
10 hours ago
- Yahoo
Another clue drops as frantic hunt for Powerball $100 million winner intensifies
More than a day after the life-changing numbers were drawn, Australia's newest multimillionaire is still a mystery — and officials are desperately urging Powerball players in Sydney's east to check their tickets immediately. One ticket, purchased at Bondi Junction Newsagency & Internet Café on Oxford Street, holds the sole division one winning entry from Thursday night's $100 million Powerball draw 1517. But with no registered player details linked to the ticket, The Lott still has no way of contacting the winner — and can only wait, and hope, that someone soon realises they've become one of the country's richest individuals. "With a winning entry tucked away in their car, wallet, or stuck on their fridge door, one New South Wales player is walking around completely oblivious to the fact their life has forever changed," The Lott spokesperson Eliza Wregg said. "There are 100 million reasons why Sydney's eastern suburbs players should check their tickets today.' The winning numbers drawn Thursday, June 12, were 28, 10, 3, 16, 31, 14 and 21. The Powerball number was 6. For Bondi Junction Newsagency & Internet Café, the news is already legendary. "Wow. It's legendary to hear we've sold the winning ticket in Thursday night's Powerball draw worth $100 million," said store owner Manish. "This is by far the biggest winning entry we've ever sold. The team are thrilled to hear the winning news. I'll be rewarding the particular staff member who sold the winning ticket, too. I'm hoping it's one of our regular customers, but you never know — it could be a tourist too. We're located right next to the closest station to Bondi Beach, so you never know." The Lott confirmed that this is the only Division One winner nationally in draw 1517, meaning just one lucky ticket holder is entitled to the entire nine-figure prize. $100 million Powerball winner reveals how her life has changed How $100 million Powerball winner can best spend their jackpot Powerball $100m draw: What really happens when you score "Imagine discovering you're suddenly a multi-millionaire! You could immediately retire, take the trip of your dreams, or spoil those nearest and dearest to you," Wregg added. "All you need to do is visit scan your ticket on The Lott app or visit one of our friendly retailers to find out if you are our division one winner." If the winner comes forward, they'll join the ranks of Powerball royalty. Last year alone, 21 Australians shared in over $773 million worth of division one prizes — including a record $150 million win by a single Adelaide man. Until then, the nation waits — and watches — to see who will step forward to claim one of the biggest lottery prizes ever handed out in Australia. Do you have a story tip? Email: newsroomau@ You can also follow us on Facebook, Instagram, TikTok, Twitter and YouTube.
