Report — Labour Hire & Contracting Across the ASX100


The Australasian Centre for Corporate Responsibility (ACCR) highlights that labour hire has been used to substitute large sections of the permanent workforce which creates risks for companies.


See Report — Labour Hire & Contracting Across the ASX100.

ACCR


The ACCR is a not for profit research and shareholder advocacy organisation which publishes research and analysis on the environment, social and governance practices of corporate Australia.


In May 2020 it published the Labour Hire & Contracting Across the ASX100 Report (Report).


The Report examines labour hire practices of Australia and corporations in some industries which are progressively substituting large sections of their permanent workforces with labour hire workers. It examines the risks to companies and investors of this workforce transformation.


Key risks

The Report identifies key risks for corporations using labour hire workforces as being:

  • poorer WHS outcomes which can erode company and shareholder value;

  • increased risks of modern slavery, labour exploitation and wage theft which can lead to negative publicity, public campaigns, losing consumer confidence and intervention by regulators (eg, Fair Work Ombudsman, Labour Hire regulators, etc);

  • decreased worker engagement and loyalty which adversely affects productivity and increases recruitment/retraining costs;

  • loss of human and intellectual capital which reduces long term value creation and deskilling of the overall workforce;

  • reduced visibility of workforce composition, adversely affecting diversity which is an essential component of sound corporate governance and a well-functioning corporate investigation; and

  • reduced development of the workforce where the host employer has no obligation to provide access to training or skills acquisition.

Failing to properly report on these risks means that many corporations are not properly reporting on indicators relevant to investors in determining long-term shareholder value.


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