Toll Wages Will Rise With Inflation: Holgate
Christine Holgate has staged a remarkable turnover for logistics business Toll Global Express, taking the company to cashflow positive in just eight months.
“We have improved that profitability from a loss two years ago of close to $140m earnings before interest, tax, depreciation and administration to just turning positive,” she said.
Holgate tells The Australian that she will not let stagnant wage growth and climbing inflation impact Toll’s 8,000-strong workforce, and is confident that Toll’s continued growth will cover the rise in labour costs.
“If you are not keeping pace with inflation for your employees, you’re going to have a bigger issue,” she said.
“There is a labour shortage. People are going to leave and go and work for somebody else so it doesn’t matter what the contract is. I think employers are going to have to do the right thing by their people.”