Hiring the best

ASIC says it’s now free to hire the best I can't believe the Government fell for the line that ASIC's woes arise from having to hire staff under the Public Service Act (PSA) and as such they could not hire "the best"! Not only is that claim wrong but very insulting to all the hardworking ASIC staff who are doing their best. If that were problem, how is it that the ACCC has had such incredible success in enforcing their legislation, whilst having to hire staff under the PSA? When I worked at the ACCC we attracted the best by selling the advantages of working at he ACCC - ie great training, a wide variety of different types of work and significantly more responsibility than they would get elsewhere. We were also content to get 4 or 5 years out of many new starters who we could see were just passing through. We certainly got value for money out of these people in the 4 to 5 years they were with us! The problem at ASIC is not that they are unable to hire the best but rather a failure of ASIC leadership to instil the right culture. One of ASIC's major failures has been settling cases which it should have litigated which has nothing to do with hiring the best but everything to do with an ineffective, risk averse leadership.

https://investmentmagazine.com.au/2018/11/asic-says-its-now-free-to-hire-the-best/