Thu 27 Aug 2015
Incolink Contributes Positive Economic Benefit:
Incolink recently engaged the Nous Group, a leading management consultancy, to conduct an independent assessment of the contribution Incolink makes to the Victorian economy.
Nous Group was asked to assess the value of redundancy and insurance contributions administered by Incolink, as well as the additional services offered to members of the fund.
The Economic Analysis of Incolink report indicated a positive net economic impact on Victorian society from Incolink, the state’s largest construction industry redundancy fund; the monetised net benefit is estimated at almost $100 million per year. This arises from the administration of member’s redundancy payments, and the provision of insurance, training, counseling and other member services.
In addition, Incolink provides numerous non‑monetised – but equally valuable – benefits, including improved quality of life for workers who are made redundant; reduced burden on government services; and added value to social, health and financial service systems.
Incolink CEO Dan O’Brien said the Nous analysis was a welcome validation of the fund’s contribution to Victorian society.
“We are delighted with the results of this independent analysis, which confirms the benefits of providing income security and wellbeing support to thousands of construction workers and their families,” he said. “Construction is Victoria’s fifth largest employer, underscoring the importance of workers in the sector having access to protection against redundancy and its consequences. “We will always strive to improve our efforts and deliver real value to the building and construction industry.”
For more information or for a copy of the report please call Laura Meagher, Manager, People and Reputation (03) 9668 5290.