Good Value

New research from Upflip has revealed the most productive states in the United States in 2022. The study measured the number of hours worked against the value-added output to determine which states added the most value to the economy for every hour worked. “There are many potential surprises in this top 10 from all corners of the country,” an Upflip spokesperson said. “The figures show many states are providing well for the economy, regardless of size and population.”

1 / NEW YORK  US$121
2 / WASHINGTON  US$107
3 / DELAWARE  US$104
4 / CALIFORNIA  US$103
5 / CONNECTICUT  US$101
6 / MASSACHUSETTS  US$100
7 / ALASKA  US$99.8
8 / NEW JERSEY  US$93.7
9 / ILLINOIS  US$91.6
10 / NORTH DAKOTA  US$90.3

*Dollar amount is the value added per hour worked.

Golden Advice

Paralympic swimming champion and inclusion advocate Matt Levy OAM is sharing the secrets of his considerable success. In his new book Going the Distance: Identify and Create Your Own Lane to Success, Levy outlines his seven pillars of success that helped him overcome hardships and achieve greatness.

“I developed the success framework lying in my hospital bed after one of my many brain operations in my early years,” Levy tells The CEO Magazine. “It’s all about setting small goals, maintaining focus on what you can control and visualizing your success.”

With three Olympic gold medals under his belt, Levy says sporting success translates well to the business world. “Dedication, discipline, attitude and focus all play a key role,” he says. “We all view and value success differently, and it’s not always the end goal where we learn the most; it’s the journey to get there. It’s not what you do but how you do it that matters.”

Going the Distance is available now.

Better Together

Mergers and acquisitions are on the rise in Australia, particularly among mid-market companies. A new study by Nexia shows that industrials (23%), IT (17%) and consumer discretionary (15%) were the most active sectors during Q1 FY23–24.

Nexia Sydney Corporate Advisory Partner Brent Goldman says the increased activity is down to several notable trends. “These include the need for growth amid challenging macro-economic conditions and increased activity from cashed-up funds and companies seeking avenues for investment without gearing, as well as leveraged sellers looking to exit without a clear family succession plan,” he said.

The industrial sector’s prominence in the data reflects its association with infrastructure-related investments, he adds. The research also revealed the United States and the United Kingdom are the leading countries for acquiring Australian companies.

Feeling Good?

The COVID-19 pandemic has forced a dramatic change in the workplace narrative. As the new year dawns, there are more and more conversations being had around mental health and overall wellbeing.

“In Asia, we tend to separate or compartmentalize work life and private life, but the pandemic forces these two to coexist,” said Curtis Baker, Dow’s Head of Inclusion, Diversity and Equity and Employee Experience Asia–Pacific.

“The positive is it began to break barriers and taboos on speaking out and up on the overall wellbeing.”

The result is that employee total wellbeing is emerging as one of the top HR trends for 2024, according to a recent poll by HRM Asia. “The simple fact is healthier employees – mentally, physically, socially and financially – are more productive and engaged employees. Thus the organization thrives,” Baker added.

Closing the Gap

The gender pay gap in Australia has hit a new low of 21.7 percent. According to the Workplace Gender Equality Agency (WGEA)’s annual update on the state of workplace gender equality, the average total remuneration gender pay gap dropped by 1.1 percentage points in 2023.

Although this was the second-largest single-year drop since the report began in 2014, there’s still a long way to go. On average, for every dollar men earn in Australia, women earn 78 cents. “If we want real change, we need employers to take bold action,” WGEA CEO Mary Wooldridge said.

“We need employers to look across the drivers of gender inequality and be imaginative in their solutions.”