Governance in the Australian superannuation industry

In the Superannuation/Pension industry ordinary investors entrust their retirement savings to the trustees of the superannuation plan. Investors rely on the trustees to ensure ethical business and risk management practices are implemented to protect their retirement savings. Governance practices ensure the monitoring of ethical risk management (Drennan, 2004). The Australian superannuation industry presents a unique scenario. Legislation requires employers to contribute a minimum of 9% of the employees wage to retirement savings. However, there are no legislated governance standards, although there are standards of recommended governance practices. In this paper, we examine the level of voluntary adoption of governance practices by the trustees of Australian public sector and industry superannuation funds. We also assess whether superannuation governance practices are associated with performance and volatility/riskiness of returns. Survey results show that the majority of superannuation plans adopt recommended governance practices supporting the concept of ethical management of the member’s retirement savings. The examination of governance principles that impact returns and risk show that board size and regular review of conflicts are positively associated with return. Superannuation plans with higher volatility in returns meet more frequently.

Using poster presentations as assessment of work integrated learning

Background / context: The ALTC WIL Scoping Study identified a need to develop innovative assessment methods for work integrated learning (WIL) that encourage reflection and integration of theory and practice within the constraints that result from the level of engagement of workplace supervisors and the ability of academic supervisors to become involved in the workplace. Aims: The aim of this paper is to examine how poster presentations can be used to authentically assess student learning during WIL. Method / Approach: The paper uses a case study approach to evaluate the use of poster presentations for assessment in two internship units at the Queensland University of Technology. The first is a unit in the Faculty of Business where students majoring in advertising, marketing and public relations are placed in a variety of organisations. The second unit is a law unit where students complete placements in government legal offices. Results / Discussion: While poster presentations are commonly used for assessment in the sciences, they are an innovative approach to assessment in the humanities. This paper argues that posters are one way that universities can overcome the substantial challenges of assessing work integrated learning. The two units involved in the case study adopt different approaches to the poster assessment; the Business unit is non-graded and the poster assessment task requires students to reflect on their learning during the internship. The Law unit is graded and requires students to present on a research topic that relates to their internship. In both units the posters were presented during a poster showcase which was attended by students, workplace supervisors and members of faculty. The paper evaluates the benefits of poster presentations for students, workplace supervisors and faculty and proposes some criteria for poster assessment in WIL. Conclusions / Implications: The paper concludes that posters can effectively and authentically assess various learning outcomes in WIL in different disciplines while at the same time offering a means to engage workplace supervisors with academic staff and other students and supervisors participating in the unit. Posters have the ability to demonstrate reflection in learning and are an excellent demonstration of experiential learning and assessing authentically. Keywords: Work integrated learning, assessment, poster presentations, industry engagement.

Australian construction industry KPIs

The Australian Construction Industry Forum (which is a peak industry association) and the Australian Procurement and Construction Council (which is a peak government organisation) have jointly agreed on a set of KPIs for the Australian Construction Industry. The goal of such a process is to work collaboratively in order to lift industry performance overall, and thereby bring about economic and social benefits to the industry and broader community. This paper seeks to underpin the process of KPI measurement by providing: an overview of international approaches to KPI measurement, summary of difficulties identified in performance measurement together with possible responses to these problems, and finally a discussion on the various methods for reporting KPIs. A number of findings throughout the paper, based on the review, made in order to advance the goal of performance measurement in the construction industry in Australia. Such findings would be relevant to other countries considering a KPI measurement process as well.

Longitudinal modelling of the influence of individual differences and the workplace on well-being and work engagement

A set of non-nested longitudinal models tested the relationships between personal and workplace resources, well-being and work engagement. The reciprocal model, trimmed of trivial paths had the best fit and parsimony. The model showed the strong influences of concurrent functioning, stability of variables over time and weaker reciprocal relationships between variables across time. Individuals with greater confidence in themselves and the future experience better work conditions and have greater well-being and work engagement. These day-to-day influences are equalled by the long term strength and stability of Individual Factors, Positive Workplace Factors, and Overall Well-Being. Whilst the reciprocal paths had only weak to mild effects, there was mutual reinforcement of Individual Factors and Overall Well-Being, with Positive Workplace Factors and Work Engagement counterbalancing each other, indicating a more complex relationship. Well-being, particularly, is anchored in the immediate and distant past and provides a robust stability to functioning into the future.