'I'm certainly not the first person to point out that general rules cannot handle all cases. This is exactly what Aristotle had in mind with the notion of Equity: The necessity of judgement making a correction to a rule - not because there is something wrong with a rule, but because of the generality of a rule that will necessarily make it inappropriate to some cases that it will seem to govern. Trying to accommodate or replace equitable judgement with additional rules simply won’t work.'
- Stephen Cohen
Deloitte released a Report last week that found Australia spends $250 billion a year on rules and compliance by both governments and businesses
That's more than eight and a half Defence budgets.
That's over $10,500 for every man, woman and child in the country.
The private sector spends $155 billion a year administering and complying with self-imposed rules
1 million people - one in every 11 workers - are employed in ‘the compliance sector’.
Middle managers and senior executives spend 8.9 hours a week complying with the rules that firms set for themselves, with other staff spending 6.4 hours.
These rules cost $21 billion a year to administer.
They generate $134 billion a year in compliance costs – double the matching compliance cost of public sector regulations.
The Widget for many people is ticking boxes.
There are many good reasons to learn and apply good decision making.
Cost is one.
The last job of a Leader is to get out of the way.