So it seems the idea of hybrid workforces is settling in as the new norm for many businesses and others are looking to figure out where the next shake ups and disruptions will come from. Here’s what you need to know:
1. When we think of those who have been on the frontline of the COVID-19 pandemic, we imagine the thousands of medical staff across Australia who are helping to save lives despite the risks the virus poses for all. These important figures behind the scenes are experiencing the impacts of the market shock just like we are, and it’s thanks to people like Carolyn Bindon, Director of WealthMed, who are helping navigate these folks through the economic uncertainty. You can watch how WealthMed, an advisory business that works specifically with medical professionals, is helping our doctors and nurses navigate their own wealth worlds during this time of crisis in this week’s myprosperity@home episode here.
2. Just like the rest of us, WealthMed’s Carolyn Bindon has had to transition her team to work remotely. It’s something we expect to continue – at least in part – even when Australia opens up again. Myprosperity Founder Peter McCarthy was this week interviewed on 2GB radio about how he intends to run a hybrid workforce.
3. The COVID-19 industry shakeup has created a surge in demand for digital services. Moody’s says it’s accelerating existing trends and causing a rethink of old habits, business models, consumer preferences and competitive dynamics. More at Mortgage Business.
4. Young Australians hit hard. New research from Finder shows that young mortgage holders have been hit hard by the financial fallout from COVID-19 with 26 per cent seeking or planning on seeking assistance from their lender or landlord, compared with 10 per cent of Gen X respondents and 1 per cent of Baby Boomers. More here.
5. Advice subscription? That’s what Adelaide’s Pitcher Partners has backed as the model that will disrupt the accounting and advisory sector. They’ve launched a fixed monthly rate model that they hope will encourage clients to reach out for more real-time advice, more often. More here.