In past years, Australian businesses and recruitment agencies only competed against local firms. This meant it was relatively easy to see what someone down the road was doing and learn from their experience.
However, the world is now a global marketplace and it is just as important to learn from overseas businesses as those within Australia. Unfortunately, according to the findings of a recent report, Australia is not readily adopting enough new technologies such as cloud computing, data analytics and information services.
Published by the Australian Council of Learned Academies (ACOLA), the Technology and Australia's Future report suggests Australia's competitive future is at stake if nothing changes. As such, ACOLA considered how technology is changing and what this will mean to people and society in the years ahead.
"We need to be agile as a nation and we need to decide whether we want to equip ourselves with the skills and knowledge to forge our future or allow others to impose a future on us," Australia's Chief Scientist Professor Ian Chubb explained.
"In reality, of course, there is no choice about whether - the only choice is about how."
Australia is widely considered an innovation trend setter, but as ACOLA Council member and President of the Australian Academy of Science Professor Andrew Holmes said businesses in other countries are becoming smarter.
"Australia's response to new technologies needs to be agile, adaptive and optimistic - new technologies can offer Australia great benefits; it is up to the nation to seize the opportunity," he stated.
Bank outlines required improvements
It seems that innovation is a hot topic across the corporate community, with NAB's Survey of Business Innovation in Australia finding low statistics on the issue. Just 27 per cent of companies would describe themselves as 'innovative' and 13 per cent said the country was ' highly innovative'.
The difference between these two figures is particularly interesting. On first glance, it suggests that Australia isn't very innovative. However, NAB believes organisations don't know what others are doing so are assuming they aren't innovative.
"This raises the possibility that business may be underestimating the true level of innovation in Australia," the report read.
What is the answer to innovation?
It is important to remember that innovation starts within a business. Organisations need to ask themselves whether their processes are streamlined enough or if there is a better way of doing something.
This is where Oncore Services can help.
With a premium line of contractor management software, payroll solutions and risk mitigation services, our team can help your business reach the level of innovation needed to create further growth and development.