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The state of AI in early 2024

By Business, IT/Digital

In early 2024, there has been a notable surge in the adoption of generative AI (gen AI) across organizations, marking a significant shift towards deriving tangible business value from this technology.

According to the latest McKinsey Global Survey on AI, 65% of respondents now report regular use of gen AI within their operations, nearly doubling from the previous year. This widespread adoption is accompanied by reports of cost reductions and revenue increases in various business units leveraging gen AI.

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More Australians need help, but we’re giving less

By Business, Programs & Services, Revenue - Fundraising

Amid Australia’s escalating cost-of-living crisis, a significant majority – 78% – of individuals have reduced their charitable donations, according to research by The University of Queensland for Giving What We Can.

The survey underscores Australians’ enduring commitment to social impact, with 61% still valuing charitable giving despite financial pressures. However, the study reveals a disparity: while Australians perceive themselves as generous, they donate just 0.38% of GDP, less than comparably affluent nations.

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The Most Strategic Leaders Excel in 4 Disciplines

By Business, Leadership, Personal

A study of 77 C-suite executives over four years found that strategically fit leaders excel in four disciplines :

1.Strategic fitness, or setting clear direction and calibrating when necessary;

2.Leadership fitness, or refining their style to meet the moment;

3.Organizational fitness, or investing in thinking about the future state of the business; and

4.Communication fitness, or effectively collaborating with internal and external stakeholders.

This article offers a series of questions that can help any leader evaluate and exercise their own strategic fitness

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5 Traps to Avoid as You Gain Power as a Leader

By Business, Leadership, Personal

As you transition to a leadership role, your relationship to power changes: You gain more of it, and people start acting differently around you due to your authority.

How can you avoid the hidden traps of gaining power, which shapes you in ways you may not realize?

The authors outline five key traps leaders can fall into — the savior trap, the complacency trap, the avoidance trap, the friend trap, and the stress trap — and offer ways to counteract each

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Standing out to fit in: How new employees can set themselves up for success at a new workplace

By Operations, People & Culture

The initial six months, often termed the ‘socialisation phase,’ are pivotal as they influence performance, job satisfaction, and length of tenure. The article highlights the employer’s potential gains from effective onboarding: new hires can offer fresh perspectives on current processes and contribute innovative ideas. With the evolving hybrid work environment reducing in-office presence, thoughtful onboarding strategies are more crucial than ever.

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Directors’ Guide to AI Governance

By Board & Governance, Business, IT/Digital

The Australian Institute of Company Directors (AICD), in collaboration with the Human Technology Institute (HTI) at University of Technology Sydney, has launched a comprehensive suite of resources aimed at equipping directors and boards with the necessary tools to navigate the complexities of Artificial Intelligence (AI).

These resources address the potential benefits and risks associated with AI, emphasising the need for effective oversight and integration within organisational strategies with the aim to empower directors to harness AI’s transformative potential while safeguarding against potential harms.

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What Makes A Great Charity

By Business, Leadership, Operations, Personal

Ever wondered what makes a great charity? In 2024, Tanarra Social Purpose invited some of Australia’s community leaders, philanthropists, and social change peers to share their insights with the goal to support charities in achieving maximum success and effectiveness in today’s challenging operating environment.

Our own NPA CEO, CARMEL MOLLOY, was invited to contribute her insights, emphasising the critical role of pervasive leadership in fostering organisational greatness. David Crosbie, CEO of Community Council for Australia, emphasises the importance of a values-driven approach for impactful change. Kristy Muir, CEO of Paul Ramsay Foundation, highlights the significance of purpose, people, and partnerships.

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Icebergs ahead: The charity sector is becoming unsustainable

By Business, Operations, Revenue - Fundraising, Revenue - Other

The latest Australian Charities and Not-for-profits Commission (ACNC) Australian Charities Report, highlighted by Community Council for Australia CEO David Crosbie, underscores a sector facing significant challenges. The report emphasizes the crucial role of the ACNC in providing timely and accurate sector-wide insights through its analysis of Annual Information Statements. Before the ACNC’s establishment, charity data was sparse and often outdated. Now, with detailed findings revealing rising expenses outpacing revenue growth, particularly notable in a nearly 10% increase in employee expenses, concerns about sector sustainability and capacity are mounting. Urgent reforms are needed to address these issues and ensure charities can continue effectively serving their communities amid escalating operational pressures and financial constraints.

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A Decade Of Data: Australian Charities Report Unveils Sector’s Economic Impact Amid Rising Costs

By Business, Operations, Revenue - Fundraising

The Australian Charities Report aggregates data from over 51,000 charities to provide a comprehensive overview of the sector’s dynamics. In 2022, charities faced significant financial pressures, with expenses and liabilities increasing more than revenues and assets. Total sector revenue reached a record high of just over $200 billion, driven by a $11 billion increase, while expenses surged by $22 billion. Employee expenses notably rose by nearly 10%, marking the highest annual increase recorded. Despite a 4.4% growth in donations totaling $13.9 billion, philanthropy through grants increased substantially by 21% to $11.7 billion. Charities remain significant employers, comprising 10.5% of the Australian workforce, and rely heavily on volunteers, though numbers dipped from previous highs. The report underscores the challenges faced by extra small charities, which constitute nearly a third of the sector yet operate with minimal income and staffing. It emphasizes the diverse landscape of Australian charities and the critical role of data transparency in informing sector policies and operations.

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2024 Gig Economy Statistics: Unveiling 85+ Remarkable Insights

By Business, Financial Management

The gig economy in the United States saw significant growth, with 24.57 million freelancers recorded by the end of August 2021. Florida led the states with the highest number of gig workers, followed closely by Texas and California. About 57% of temporary workers spent over 40 hours per week on contract jobs, earning 58% less than full-time employees without benefits. Blockchain and AI specialists were among the highest earners in the gig economy. The public sector employed up to 14% of freelancers, while approximately 170 companies in the U.S. hired gig workers. Notably, platforms like AnswerConnect and Toptal emerged as major players in the virtual workspace. Survey data revealed that 99% of remote workers intended to continue working remotely, while 64% preferred the freedom of working as free agents. Additionally, 86% of gig workers expressed concerns about security and health coverage, while over 50% stated they would not return to traditional 9-to-5 jobs. Demographically, women comprised 63% of the contract labor force, and Generation Z constituted the largest group of gig workers at 50%, followed by millennials at 44%. The gig economy was projected to continue expanding, with estimates suggesting it could reach 86.5 million workers by 2027, reflecting evolving attitudes toward flexible employment arrangements.

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