Australia is on the way to becoming a high-wage, high-cost, low-productivity economy and this is posing huge challenges to our international competitiveness.

Like all developed economies, there are potential threats to Australia’s future economic prosperity as new competitors emerge, the pattern of global trade changes and the population ages.

While Australia is well placed to share in the benefits of the Asian Century, this will not happen if Australian businesses are not able to innovate quickly and develop new business models underpinned by modern and collaborative workplaces.

Submission to the Senate Standing Committees on Education, Employment and Workplace Relations in relation to the Fair Work Amendment Bill 2012