2020 CEO Survey: Andrew Bassat, Seek

Business needs to pivot from cost-out to more aggressive long-term investment, says Seek chief Andrew Bassat.

What are the three enduring lessons or changes to flow from COVID-19?

Government and business co-operated strongly and with urgency to deal with COVID-19. I hope this can continue as other issues critical to Australia’s prosperity are addressed.

COVID-19 fast-tracked many years of digital adoption across many industries and age groups. This is a permanent shift.

Schools and universities have had to quickly adapt to online education. Blended learning will continue to play an important role in re-skilling our rapidly changing workforce.

How would you rate the shape of the Australian economy as we head into the new year?

We are cautiously optimistic as we head into 2021. Our data shows a good improvement in ad volumes driven by rehiring of lost roles and underlying economic growth. We are now seeing Australia’s ad volumes at circa 90 per cent-plus of pre-COVID-19 levels.

What three reforms are needed to sustainably grow the economy?

I am optimistic that policy settings already in place will materially improve Australia’s unemployment rate. Businesses also need to play their part and pivot from cost-out to more aggressive long-term investment.

What are the three best growth opportunities for your company in 2021?

Unifying our platform, technology and product across ANZ and Asia will help us realise what we see as a huge APAC opportunity

SEEK owns several online education businesses which we believe will play a critical role in helping millions of people find new employment

What impact will digital transformation have on your company?

As a purely online company, we are very well positioned to lead and as transformation accelerates. We are always looking to invest to ensure we better fulfil our purpose of helping people live more fulfilling and productive working lives and helping organisations succeed.

How would you rate business, state and federal government performance this year?

Excellent. Where we are now given the depths of when COVID-19 really hit back in March/April is amazing. I suspect that Australia’s health and economic conditions would be the envy of the majority of countries.