Top 5 reasons to work for an ASX Listed Company
For the most part, when people say to me that they would like to work for an ASX listed company, they are generally referring to companies that are in the ASX Top 100.
The reality is that there are over 2250 listed companies on the local bourse, and they range from market capitalisations of close to $125 billion (think Commonwealth Bank) to the low millions, although why these remain listed one has to wonder. The point being that the ASX is a fair representation of the broader business sector, not just industrial leaders.
I can see why people aspire to work for them. In my experience, the top 5 reasons why people join listed companies are:
- Feel-Good factor - the kudos of a high profile name on your resume
- Stock options - becoming a stakeholder raises the bar on performance motivation
- A moving target - the omnipresent challenge to beat market expectations of earnings growth
- Public scrutiny - incentive to ‘get it right’ and meet with investor and peer approval
- Career opportunities – strong financial performance often parallels prospects for advancement
One of the most volatile employment issues right now is gender equality which, I’m glad to say, is fast becoming a non-issue for our ASX listed employers. Big companies are often a target for negative publicity, but on this issue they’re leading the way. In my opinion, it might even deserve a place on our above-mentioned Top 5 Reasons list.
Several recent studies by groups as diverse as the Australian Institute of Company Directors (AICD), KPMG (on behalf of ASX Group), Australian Council of Superannuation Investors (ACSI) and Diversity Council Australia (DCA) have all reported an improvement in gender balance within the leadership teams of listed Australian companies.
Figures released in September 2018 show that not only has the percentage of female directors on ASX 200 boards more than doubled since 2010 (it currently sits at 29.1%)*, a number of ASX-listed companies are well on their way to becoming part of the 30% Club. This is great news - not only for those professional women who, having accrued 10+ years of experience, may be wondering how best to position themselves for a role at director, C-suite or board level - but for future generations, too, for whom the trend towards a more diverse pool of candidates will encourage them to push even harder against an already weakening glass ceilings.
*Australian Institute of Company Directors; # Diversity Council Australia