As business owners, you know how hard it is keeping up with your business, let alone the news. Join Wilhelmina O'Keeffe each week as she gives you a rundown of the biggest stories that could impact your business, so you can make informed decisions with expert advice. 


This week, Annual inflation dips, but not for long. The India Free Trade deal comes into effect so which industries stand to benefit the most? And what’s weighing on the minds of some of our CEOs? 

As business owners, you know how hard it is keeping up with your business, let alone the news. Join Wilhelmina O'Keeffe each week as she gives you a rundown of the biggest stories that could impact your business, so you can make informed decisions with expert advice.&nbsp;
 This week,&nbsp;Annual inflation dips, but not for long. The India Free Trade deal comes into effect so which industries stand to benefit the most? And what&rsquo;s weighing on the minds of some of our CEOs?

The SME Stream Weekly Wrap - 23rd October

Inflation is still much higher than it should be, largely because of high global oil prices. 

Stats NZ data shows the rate's now on 3.7%, down from 4.1% three months ago. 

Domestic non-tradeable inflation —for things like housing, electricity, and healthcare— has been trending down. 

Internationally-driven tradeable inflation —for things we import and export— has dipped, after trending up. 

But NZ Herald Business Editor at Large Liam Dann told Kerre Woodham economists are forecasting anywhere up to 4.7% inflation for the December quarter, which is pretty ugly. 

He says even if the Reserve Bank were to look through the impact of oil prices, the Consumer Price Index would still rise around 3.2%, which they can't ignore.  

Dann says it's one of the reasons economists expect them to hike interest rates. 

LISTEN ABOVE 

Inflation is still much higher than it should be, largely because of high global oil prices.&nbsp;
Stats NZ data shows the rate's now on 3.7%, down from 4.1% three months ago.&nbsp;
Domestic non-tradeable inflation &mdash;for things like housing, electricity, and healthcare&mdash; has been trending down.&nbsp;
Internationally-driven tradeable inflation &mdash;for things we import and export&mdash; has dipped, after trending up.&nbsp;
But NZ Herald Business Editor at Large Liam Dann told Kerre Woodham economists are forecasting anywhere up to 4.7% inflation for the December quarter, which is pretty ugly.&nbsp;
He says even if the Reserve Bank were to look through the impact of oil prices, the Consumer Price Index would still rise around 3.2%, which they can't ignore. &nbsp;
Dann says it's one of the reasons economists expect them to hike interest rates.&nbsp;
LISTEN ABOVE&nbsp;

Liam Dann: NZ Herald Business Editor at Large on the inflation rate easing to 3.7% in the September quarter

We may be at a turning point when it comes to property investment. 

Cotality data shows residential property is worth $1.66 trillion and still accounts for more than 50% of all household assets.  

But it also shows property sales and values are largely subdued.  

Chief Property Economist Kelvin Davidson told Kerre Woodham over the last couple of decades, strong capital gains and low interest rates were a big driver for the housing market. 

He says mortgage costs went down and selling provided capital gains as well, but this potentially won't last into the future. 

Davidson says property investment will probably need to be done a little bit differently, focusing on active management and cash flow rather than relying on capital gains.  

LISTEN ABOVE 

We may be at a turning point when it comes to property investment.&nbsp;
Cotality data shows residential property is worth $1.66 trillion and still accounts for more than 50% of all household assets. &nbsp;
But it also shows property sales and values are largely subdued. &nbsp;
Chief Property Economist Kelvin Davidson told Kerre Woodham over the last couple of decades, strong capital gains and low interest rates were a big driver for the housing market.&nbsp;
He says mortgage costs went down and selling provided capital gains as well, but this potentially won't last into the future.&nbsp;
Davidson says property investment will probably need to be done a little bit differently, focusing on active management and cash flow rather than relying on capital gains. &nbsp;
LISTEN ABOVE&nbsp;

Kelvin Davidson: Cotality Chief Property Economist on how property investment may evolve as the market remains largely subdued

Inflation's eased up slightly - but it's also become more persistent and widespread.

The official inflation rate has fallen in the past three months - from 4.1 percent to 3.7 percent - due to a brief fall in fuel prices.

But underlying core inflation has been rising and more items are increasing in price.

Labour's Finance Spokesperson Barbara Edmonds told Francesca Rudkin the government doesn't have a plan to tackle the rising prices. 

LISTEN ABOVE

Inflation's eased up slightly - but it's also become more persistent and widespread.
The official inflation rate has fallen in the past three months - from 4.1 percent to 3.7 percent - due to a brief fall in fuel prices.
But underlying core inflation has been rising and more items are increasing in price.
Labour's Finance Spokesperson Barbara Edmonds told Francesca Rudkin the government doesn't have a plan to tackle the rising prices.&nbsp;
LISTEN ABOVE

Barbara Edmonds: Labour's Finance Spokesperson on CPI falling to 3.7%

National and Labour are offering quite different solutions to persistently high inflation. 

Headline inflation's eased back to 3.7%, but some economists say it could reach as high as 4.7% by the end of the year. 

Labour's Barbara Edmonds says freezing the fuel tax would address the single biggest factor – surging fuel prices.  

But National's Nicola Willis told Mike Hosking National would address the other two major factors – rates and electricity. 

She says they will push ahead with rates caps and continue consenting new energy projects. 

LISTEN ABOVE 

National and Labour are offering quite different solutions to persistently high inflation.&nbsp;
Headline inflation's eased back to 3.7%, but some economists say it could reach as high as 4.7% by the end of the year.&nbsp;
Labour's Barbara Edmonds says freezing the fuel tax would address the single biggest factor &ndash; surging fuel prices. &nbsp;
But National's Nicola Willis told Mike Hosking National would address the other two major factors &ndash; rates and electricity.&nbsp;
She says they will push ahead with rates caps and continue consenting new energy projects.&nbsp;
LISTEN ABOVE&nbsp;

Nicola Willis: Finance Minister and National's Finance Spokesperson on inflation easing to 3.7% in September quarter, plans to deal with it

Auckland Business Chamber CEO Simon Bridges says politically, the Mood of the Boardroom shows a "tactical draw" between National and Labour. 

The survey of business leaders shows dissatisfaction and a desire for more investment in infrastructure, reform, leadership and talk of productivity, Bridges told Ryan Bridge. 

"Because you'd expect, and they are in their numbers, the Nats as a centre right incumbent government to be higher up, I would sort of call it a tactical draw between the Nats and Labour when you look at this closely." 

Unease about "the tail wagging the dog" with minor parties gaining more power in the future government is also present. 

"This is a very small sliver of business. It's the top end of town, let alone it being the electorate... 

"They've got a very clear view about what they like. They tend to like stability, certainty, an incumbent government over change that might be messy and uncertain." 

The former National Party leader said no result in the upcoming election would surprise him. 

LISTEN ABOVE 

Auckland Business Chamber CEO Simon Bridges says politically, the Mood of the Boardroom shows a "tactical draw" between National and Labour.&nbsp;
The survey of business leaders shows dissatisfaction and a desire for more investment in infrastructure, reform, leadership and talk of productivity, Bridges told Ryan Bridge.&nbsp;
"Because you'd expect, and they are in their numbers, the Nats as a centre right incumbent government to be higher up, I would sort of call it a tactical draw between the Nats and Labour when you look at this closely."&nbsp;
Unease about "the tail wagging the dog" with minor parties gaining more power in the future government is also present.&nbsp;
"This is a very small sliver of business. It's the top end of town, let alone it being the electorate...&nbsp;
"They've got a very clear view about what they like. They tend to like stability, certainty, an incumbent government over change that might be messy and uncertain."&nbsp;
The former National Party leader said no result in the upcoming election would surprise him.&nbsp;
LISTEN ABOVE&nbsp;

Simon Bridges: Auckland Business Chamber CEO on the Mood of the Boardroom weeks out from the election

New reports indicate more young job seekers are being asked to submit short videos - alongside the traditional tailored CV, cover letter and filled-in questionnaire.

While this trend is more popular overseas, more Kiwi employers are looking to utilise videos to sort through applicants as well.

Student Job Search CEO Louise Saviker says many of the roles advertised through the platform are front-facing customer service roles, and they encourage students to get behind this. 

"It's absolutely not needed if they don't want to, and they are in control of whether or not they do  that or not." 

LISTEN ABOVE

New reports indicate more young job seekers are being asked to submit short videos - alongside the traditional tailored CV, cover letter and filled-in questionnaire.
While this trend is more popular overseas, more Kiwi employers are looking to utilise videos to sort through applicants as well.
Student Job Search CEO Louise Saviker says many of the roles advertised through the platform are front-facing customer service roles, and they encourage students to get behind this.&nbsp;
"It's absolutely not needed if they don't want to, and they are in control of whether or not they do&nbsp; that or not."&nbsp;
LISTEN ABOVE

Louise Saviker: Student Job Search CEO on the increase in job seekers being asked to submit videos

Inflation appears to have become more embedded in the economy. 

Latest Stats NZ figures show the annual inflation rate's eased to 3.7%, down from 4.1% three months ago. 

The quarterly inflation rate's eased to 0.7%, but domestically-driven non-tradable inflation has risen due to the annual increase in council rates. 

Business NZ Chief Economist John Pask told Mike Hosking price rises are becoming more widespread. 

He says the Reserve Bank will be concerned to see inflation is no longer just about fuel and is becoming more generalised. 

LISTEN ABOVE 

Inflation appears to have become more embedded in the economy.&nbsp;
Latest Stats NZ figures show the annual inflation rate's eased to 3.7%, down from 4.1% three months ago.&nbsp;
The quarterly inflation rate's eased to 0.7%, but domestically-driven non-tradable inflation has risen due to the annual increase in council rates.&nbsp;
Business NZ Chief Economist John Pask told Mike Hosking price rises are becoming more widespread.&nbsp;
He says the Reserve Bank will be concerned to see inflation is no longer just about fuel and is becoming more generalised.&nbsp;
LISTEN ABOVE&nbsp;

John Pask: Business NZ Chief Economist on domestically-driven inflation rising while annual inflation eases to 3.7%

This ep the focus gets thrown on Scott. Mike asks him about his own life story - starting off from early days, going through a door-to-door sales grind to building his production company Blacklime - and how therapy, kindness and self-knowledge that got him there. It's the most personal episode yet.

 

Drinking beer from: Urbanaught - Atlanta Bright IPA (4.6%)

Eating a pie from: Gold Star Bakery - Mac n Cheese and Chicken

 

You'll learn:

-Why door-to-door sales taught Scott lessons - attitude, the law of averages, resilience - that still show up in how he runs a business today;

-How a season on the dole and a near miss in retail led him into a media career shooting Motorway Patrol and Police Ten 7;

-Why he treats therapy like a coach for life, and the moment in 2016 that sent him back to it;

-The pivotal risk of buying his own camera on credit to land an 18-week trial, and how that launched his career in the production industry;

-and his three closing pieces of advice: know yourself first, be kind, and don't live by someone else's definition of success.

 

Liked this one and want to uncomplicate your business growth and get better content? Make sure you catch the next episode - hit subscribe and check us out here:

https://linktr.ee/pintspiesandprofits

This ep the focus gets thrown on Scott. Mike asks him about his own life story - starting off from early days, going through a door-to-door sales grind to building his production company Blacklime - and how therapy, kindness and self-knowledge that got him there. It's the most personal episode yet.
&nbsp;
Drinking beer from: Urbanaught - Atlanta Bright IPA (4.6%)
Eating a pie from: Gold Star Bakery - Mac n Cheese and Chicken
&nbsp;
You'll learn:
-Why door-to-door sales taught Scott lessons - attitude, the law of averages, resilience - that still show up in how he runs a business today;
-How a season on the dole and a near miss in retail led him into a media career shooting Motorway Patrol and Police Ten 7;
-Why he treats therapy like a coach for life, and the moment in 2016 that sent him back to it;
-The pivotal risk of buying his own camera on credit to land an 18-week trial, and how that launched his career in the production industry;
-and his three closing pieces of advice: know yourself first, be kind, and don't live by someone else's definition of success.
&nbsp;
Liked this one and want to uncomplicate your business growth and get better content? Make sure you catch the next episode - hit subscribe and check us out here:
<a href="https://linktr.ee/pintspiesandprofits">https://linktr.ee/pintspiesandprofits</a>

Finding out more about Scott

The future of work is already happening. So how should HR respond?

In this episode of HR Unlocked, Lisa Oakley speaks with Fiona Hewitt, Founder and Managing Partner of Unboxable, about how organisations and People & Culture teams can prepare for a future that cannot be neatly predicted.

For Fiona, the goal should not be “future-proofing”. There is no fixed playbook because nobody knows exactly where technology, workforce expectations and business conditions will take us. Instead, organisations need to become future-fluent, building their ability to adapt as conditions change.

That creates a significant challenge and opportunity for HR.

Fiona expects the makeup of HR teams to change as technology increasingly automates areas such as compliance, payroll and frontline support. At the same time, she sees greater demand for capability in workforce planning, workforce intelligence, leadership, organisational design and operating models.

The conversation challenges the familiar call for HR to earn “a seat at the table”. Fiona argues that HR needs to go further and actively help form the decisions that shape the organisation, including technology, strategy and how work itself is designed.

Lisa and Fiona also explore what an operating model really means. It is not simply an organisation chart or a restructure. It includes how value is delivered, how decisions are made, operating rhythms, capabilities and how work is organised.

From there, the conversation moves into the role of AI, change, culture, strategic influence and the increasing need for HR professionals to understand the business beyond their own functional expertise.

Fiona argues that credibility at senior levels comes not only from knowing HR, but from understanding the commercial context, sector and organisation well enough to contribute from an enterprise perspective.

The episode ultimately asks a bigger question: if work becomes more flexible and capability-based, could even the traditional concept of a “job” need to evolve?

Fiona closes with an idea that has shaped her own career in workforce transformation: building people, leaders and organisations that are “ready for anything.”

What You’ll Learn


What Fiona means by future fluency


Why future-proofing organisations may be the wrong goal


How technology could reshape the structure and capability of HR teams


Why workforce planning and organisational design need deeper HR capability


Why organisational design is much more than restructuring or moving boxes on an org chart


What an operating model actually means in practice


Why HR needs to move beyond simply asking for a “seat at the table”


How HR can become involved earlier in technology, strategy and business decisions


Why the future of work may be better understood as the evolution of work


Why organisations need to learn to lead with change, rather than through it


How language such as “clarity over certainty” can influence how people respond to change


How AI may reduce transactional HR work while increasing the need for strategic capability


Why HR business partnering is likely to become even more commercially focused


How Centres of Excellence may need to connect more closely with strategy and business operations


Why the future of work should not sit in a separate programme


How HR teams can “breadcrumb” future-focused thinking into work they are already doing


Why Fiona believes HR should become an architect rather than the “ambulance at the bottom of the cliff”


How commercial understanding strengthens HR influence


Why “next practice” can sometimes be more useful than relying solely on best practice


What CEOs should expect from their People leaders


Why culture will become even more important as organisations become increasingly adaptive


How organisations can balance current pressures with preparing for what comes next


Why AI capability inside HR itself matters


How strategy may need more flexibility as conditions change


Why the traditional concept of a job could eventually become less rigid


What changing jobs could mean for careers and transferable capability


Why Fiona sees potential in the rise of the generalist


What it means to build an organisation that is “ready for anything”

Key Takeaways


You cannot future-proof against a future you cannot predict. Fiona’s alternative is future fluency: building the ability to adapt as conditions shift.


HR capability needs to shift. Technology may reduce some transactional roles while increasing demand for workforce planning, organisational design and strategic capability.


Org design is not the same thing as restructuring. It is about how an organisation delivers value, makes decisions, structures work and operates.


HR needs to move beyond having a seat at the table. The opportunity is to actively shape business, technology and workforce decisions.


The future of work does not need to be another separate HR programme. Future-focused capability can be built into leadership, culture and other work already underway.


HR’s value is shifting from support towards architecture. Fiona argues that People functions can help design the organisation rather than only responding once problems appear.


Credibility requires business fluency as well as HR expertise. Understanding the organisation, industry and commercial context strengthens influence.


The traditional job may not remain as fixed as it is today. More fluid use of capability could change how organisations deploy people and think about careers.


Preparing for tomorrow needs to begin today. Organisations cannot wait until the change arrives before building capability.


Being “ready for anything” does not mean predicting everything. It means developing enough adaptability in people, leadership and the organisation to respond effectively when conditions change.

About Fiona Hewitt

Fiona Hewitt is the Founder and Managing Partner of Unboxable, a New Zealand-based workforce transformation consultancy working with boards, executive teams and organisations to build the leadership, workforce and organisational capability needed to respond to technology, changing workforce expectations and evolving business conditions.

She is also co-founder of Able, an AI consultancy focused on helping organisations build AI capability in their people.

Her work spans workforce transformation, organisational design, operating models, strategy, leadership and preparing organisations for the evolution of work.

Why This Episode Matters

A lot of discussion about the future of work focuses on technology.

This conversation goes deeper into the organisational questions underneath it.

If AI changes how work gets done, organisations will need to rethink how decisions are made, how capability is deployed, what leaders are responsible for and how People & Culture functions create value.

For HR professionals, the opportunity is significant.

The profession can remain primarily focused on administering and supporting the organisation, or it can develop the commercial, organisational and workforce design capabilities needed to help shape what the organisation becomes next.

As Fiona puts it, HR has the opportunity to move from being the ambulance at the bottom of the cliff to the architect with the builder at the top.

Resources & Links

Unboxable:https://unboxable.co.nz/

Connect with Fiona Hewitt on LinkedIn:https://www.linkedin.com/in/fionahewitt/

Hr Unlocked: https://linktr.ee/hrunlocked

Fiona Hewitt - Unboxable | Future Fluency, Workforce Design & the Evolution of HR

Looking for actionable business insights all in one place? 

We're here to help you find a way with a curation of the ‘best bits’ from top business podcasts. 

Save time searching; subscribe to the SME Stream where you can listen to relevant, timely, business-related content today. 

 

Looking for actionable business insights all in one place? 
We're here to help you find a way with a curation of the &lsquo;best bits&rsquo; from top business podcasts. 
Save time searching; subscribe to the SME Stream where you can listen to relevant, timely, business-related content today.&nbsp;
&nbsp;

The SME Stream

Social links:

Follow the podcast:

2,687 clip(s)