2020 CEO Survey: Mike Schneider, Bunnings

Fast-tracked digital transformation has seen months-long projects brought to life in weeks, says Bunnings chief Mike Schneider.

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

We have always known this, but COVID-19 has really highlighted the importance of looking after our team and communicating with them. Our internal channel, Workplace, has allowed us to keep our team up to date in almost real time with actions required in response to government restrictions, get instantaneous feedback, host live streams and series on a number of topics with experts. By creating meaningful ways to interact, we have been able to listen, learn and engage the team which has served to deepen engagement.

The agility our team has shown and what they have been able to achieve in accelerating the digital offer is unprecedented, which has encouraged us to think more about how we accelerate innovation to deliver more choice, value and convenience for customers. This is about focusing on fast-tracking the initiatives that matter the most, while maintaining our focus on disciplined cost control.

Flexibility within the workplace and connecting with interstate and international colleagues — significant improvements in technology coupled with a pretty open-minded approach to flexible work — has made a big difference to what has been a challenging way to work. Going forward this will help drive greater flexibility in all aspects of our business and reduce costs in areas such as travel and accommodation.

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

We’re still in a really uncertain environment. We know from the experience in Victoria how quickly things can change, but as states re-open and move towards a COVID-normal, and travel restrictions begin to ease, that can only be good for businesses large and small and the wider economy.

What three reforms are needed to sustainably grow the economy?

Reducing red tape, particularly around EBA negotiations, and making it easier for business to invest.

Recent payroll tax relief measures announced in NSW and SA will be beneficial for businesses to create more jobs.

Simplifying planning processes for commercial developments to support construction and retail jobs.

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

Our FY21 strategy is based on delivering on our policy of lowest prices, widest range and best service for our customers, as well as making a positive difference in our communities and building the best team.

We’re remaining focused on investing in future growth, broadening commercial markets, expanding digital capabilities and strengthening our offer.

What impact will digital transformation have on your company?

We’ve been able to fast track digital transformation this year, with projects that would normally take months being brought to life in weeks.

Our focus is firstly on deepening our relationship with our customers, making things easier, more relevant and convenient and providing them with best service and then it’s about improving our operational efficiencies across our support and supply chain functions, to lower costs and drive greater simplicity.

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

The year has presented extraordinary challenges that have really highlighted the importance of open communication lines between government and industry. We’ve really welcomed the collaboration where it’s existed and are keen to see it maintained as business will play a critical role in the post COVID-19 economic recovery. We also hope our leaders ensure a balanced approach to ongoing health advice and the needs of the community around engaging with family, friends and employment as we head into 2021.