Recruitment Market Segment LS
Recruitment Market Segment RS

 600X108px IT Wire


Thursday, 10 August 2017 11:16

Automation not so bad for finance workers and jobs: survey Featured


Automation of Australia’s workforce may not have such a negative effect on jobs and employment, according to new research which shows that more jobs are expected to be created — especially in finance — by automation.

According to an independent survey commissioned by recruiter Robert Half, while several functions within finance departments are already automated or are expected to be automated within the next three years, almost half (46%) of Australian chief financial officers are planning to expand their permanent financial headcount to help implement their company’s automation efforts over the next 12 months.

And, the survey reveals that more than one in three (36%) CFOs are planning to create new roles for temporary or contract professionals over the next year.

Robert Half also says that in terms of job loss, the survey reveals that the majority (86%) of CFOs agree workplace automation does not imply a reduction in finance employees in their team – but rather, it requires a shift in the necessary skills.

And more specifically, CFOs say the top skills finance professionals need to focus on as a result of automation are problem-solving skills (56%), strategic vision (46%), commercial acumen (44%) and communication (37%).

According to David Jones, senior managing director of Robert Half Asia Pacific “increased automation within Australian workplaces is not about destroying jobs, but rather, adapting to change – which, in turn, leads to new opportunities”.

“The modern day business demands diverse skillsets, resources and assets which will equip companies to be able to respond quickly and flexibly to challenges like automation and digitisation. Not only will companies need to bring in additional expertise to lead this change, they will also need to focus on staff training to ensure their workforces have the adequate skills to leverage the benefits brought by existing and future technology.”

According to Robert Half, the positive jobs sentiment revealed by the survey is reflected in a recent speech by Facebook chief executive Mark Zuckerberg at Harvard University when he said “while automation will eventually replace some jobs, it is up to millennials to create new ones”.

Robert Half also points out that according to the research, some of the finance functions that are either already automated or likely to be disrupted within three years include data collection (88%), invoicing (85%), financial report generation (84%), data entry (77%), and credit management (77%).

And David Jones says that “finance professionals will need to develop skills that complement and leverage the capabilities of automation – rather than simply hand over control".

“More advanced technology requires additional, well-developed skills, such as advanced data analysis, interpretation skills, and decision-making skills.

“While automation may diminish some routine manual roles, it will lead to faster decision making, reduce the risk of errors, and eliminate stresses associated with laborious task-management responsibilities. These benefits are available to those companies who embrace workplace automation rather than resist it.

“Australian businesses are operating in a time of rapid transition, where adaptability will be key to surviving the disruptive effects of automation and digitisation for both companies and their staff. It’s becoming increasingly apparent that people must find ways to combine their own skills with the capabilities of technology – not only to drive better results for businesses in a highly competitive landscape, but also to further their own careers,” Jones said.

Subscribe to ITWIRE UPDATE Newsletter here

Now’s the Time for 400G Migration

The optical fibre community is anxiously awaiting the benefits that 400G capacity per wavelength will bring to existing and future fibre optic networks.

Nearly every business wants to leverage the latest in digital offerings to remain competitive in their respective markets and to provide support for fast and ever-increasing demands for data capacity. 400G is the answer.

Initial challenges are associated with supporting such project and upgrades to fulfil the promise of higher-capacity transport.

The foundation of optical networking infrastructure includes coherent optical transceivers and digital signal processing (DSP), mux/demux, ROADM, and optical amplifiers, all of which must be able to support 400G capacity.

With today’s proprietary power-hungry and high cost transceivers and DSP, how is migration to 400G networks going to be a viable option?

PacketLight's next-generation standardised solutions may be the answer. Click below to read the full article.


WEBINAR PROMOTION ON ITWIRE: It's all about webinars

These days our customers Advertising & Marketing campaigns are mainly focussed on webinars.

If you wish to promote a Webinar we recommend at least a 2 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site and prominent Newsletter promotion and Promotional News & Editorial.

This coupled with the new capabilities 5G brings opens up huge opportunities for both network operators and enterprise organisations.

We have a Webinar Business Booster Pack and other supportive programs.

We look forward to discussing your campaign goals with you.


Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

Share News tips for the iTWire Journalists? Your tip will be anonymous




Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News