A new report by Telstra has uncovered an opportunity for Australia’s business and public sector leaders, estimating that a lack of professional connection among senior leaders could be costing the country up to $53 billion in potential revenue annually.
The Return on Connection report, conducted in partnership with YouGov, surveyed over 1,000 senior leaders from large organisations.
It revealed that one in three leaders do not have an external professional network, as reported in a media release.
According to the findings, organisations with highly connected leaders experienced 5 per cent higher revenue growth on average, while those with less connected leaders missed out on an estimated $15.5 million in revenue each year.
Telstra Enterprise Chief Customer Officer Peggy Renders emphasised the importance of collaboration among senior leaders to drive innovation and tackle complex challenges.
“Connection is in our Telstra DNA, it’s what we do. Our networks connect Australia—and our incredible country to the world,” said Renders.
“But it’s people that give purpose to technology, and it’s the connection that our connectivity enables that we are so passionate about.”
The research indicated that despite 96 per cent of leaders believing stronger connection could help address pressing challenges, many still remain disconnected from their peers.
Sectors like manufacturing, construction, and financial services had a higher proportion of connected leaders, while mining, retail, and the public sector lagged behind.
According to the report, nearly half of the leaders who connect daily with external networks reported developing new or innovative ideas from these interactions.
To address this gap, Telstra is launching the Return on Connection initiative—a series of cross-industry forums designed to help leaders collaborate on critical issues such as driving innovation and implementing new technology.
“Throughout my career it has often been peers working in completely different industries – or countries – that have helped bring diverse thinking to challenges. And that’s certainly been the case over this year as we’ve worked to reset our enterprise business around our customers and Australian industry and government,” added Renders.
The Return on Connection report is now available.
Telstra is inviting business and public sector leaders to participate in the forum series through expressions of interest at telstra.com.au/business-
