WITHOUT CANDOUR AND CAN-DO, AUSTRALIA CAN'T DO ANYTHING ~ An unnecessary employment crisis looming?

"The expression "Learning to see" comes from an ever developing ability to see waste where it was not perceived before".

"It is only by capitalizing on employees' creativity that organizations can eliminate the other seven wastes and continuously improve their performance."

'The team that fields the best players wins': http://www.youtube.com/watch?v=rByDmC0SqtM

'Stop hanging out with the guy with green eye-shades'



According to ABC News, the Australian and the Herald Sun, unemployment hit 5.6%, the highest rate in three years of data. [http://www.theaustralian.com.au/business/breaking-news/aust-jobless-rate-56-in-march/story-e6frg90f-1226618102828] Only recently, I remember, Wayne Swan assured Australians that we had outrun the global financial crisis and were the envy of the world.

Yes, I acknowledge that the IMF released a strong forecast for Australia. (I also remember how the IMF nearly destroyed Indonesia. As per the Ratings Agencies, what they say should be taken cum granis saltis - another story altogether. Though to be fair, the IMF does important work).

But how much, in light of these latest figures, must be put down to luck, pure and simple luck?? 

Saul Eslake, chief economist at Merrill Lynch - and well known to Australian business - clearly stated, pace Swan that Australia is not running nearly fast enough. According to Eslake and the Australian,

' The economy is still creating jobs but not quickly enough to keep up with population growth.

And if the unemployment rate continues to rise, Mr Eslake believes further rate cuts will be back on the agenda as early as June.

"If this trend continues, and I expect it will, it will materially add to the case for further rate cuts," he said'.

ACCI chief ecnomist, Greg Evans also lamented the lack of real economic growth: "We are concerned the mainstream economy may not be growing sufficiently to keep a lid on an unemployment rate which is trending higher."

For me, these figures and statements collectively suggest the lack of prudence and candour demonstrated by Australian political leaders. Indeed, it is very hard to discover any "leaders" throughout this Parliament since every comment becomes a make-weight for partisanship, belligerence and, it would appear, outright duplicity. Moreover, we invest very little in critical infrastructure to facilitate urban and rural links and manufacturing growth: cf the high-speed rail and NBN debates.

Putting aside allegations of mala fides, however, I return to my broad view on the unnecessary exclusion of youth, women returning from maternity leave and students from workforce participation. In place of focussing upon rate cuts, RBA minutes and impersonal metrics, perhaps it is time for Australian government and business to focus disproportianately upon skills development, workforce training and diversity programmes to encourage under-utilised talent.

If we are ever to produce the likes of Apple, GE or Goldman Sachs, we have to place employee development and talent management above mere data-crunching and political sophistry. And the Opposition certainly does not help crowing about debt which doesn't exist: Labor have wasted money but that is the least of our worries. Abbot does need to understand Economics 101. Candour entails complete honesty and critical judgment in devising and implementing national policy.

AN EXAMPLE FROM LEAN MANUFACTURING

In line with Toyota's Production Model and the precepts of lean, Wikipedia indicates that the eighth muda - waste, or inefficiency is the under-utilisation of talent. It feels, sometimes, like our country specialises in this sin: and this sin, economically, is mortal, not venial. On the misuse or underuse of latent talent, and the other seven muda refer: http://en.wikipedia.org/wiki/Muda_(Japanese_term)

I hope to goodness we will not be reading the same style of articles in three years time :(

In good news, the stock market is up! :)

All Ords

36.60

5,010

+0.74%

S&P/ASX 200

39.10

5,007

+0.79%

 We have so much going for us guys, for God's sake do something with it!

PS. Focus on the mid-market...