Annual Report 2024
Trustee for the Construction Industry Long Service Leave Fund
Annual Report 2024
Trustee for the Construction Industry Long Service Leave Fund
CHAIR & CEO REPORT
CHAIR & CEO REPORT
Jenny Acton and Craig Bell
chair of the board and chief executive officer, LeavePlus
The past financial year has been transformative for our organisation, marked by significant milestones that move us closer to our vision of being the best operator of a portable entitlement scheme. We initiated a comprehensive business transformation project, began refurbishing our Albert Street office, and embraced a new identity as LeavePlus, changing our name from CoINVEST.
Throughout FY2024, we have been rebuilding our business to better align with the dynamic demands of the Construction Industry. These initiatives include a thorough review and enhancement of our processes, systems, and people to significantly improve member experience and industry compliance with obligations under the LeavePlus Scheme. Given the scope of this business transformation, changes will be implemented over the next two years, delivering incremental value throughout for the benefit of our members and the industry.
A key milestone has been the commencement of our building refurbishment project, including the development of a new member centre. Scheduled for completion in early 2025, this project will provide a modern workplace for our staff and enhance the Fund’s asset. Our new member centre, a first for LeavePlus, will provide a dedicated space for members to visit us, along with a new training facility.
In August 2023, we rebranded to LeavePlus, a name that clearly communicates our purpose and the value we provide. Since 1992, we were known as CoINVEST, but feedback showed the name did not effectively convey what we do. LeavePlus succinctly tells our members that we manage their long service leave, which continues to accumulate as they progress in their careers—it’s the leave that moves with them. With our new brand in place, we will focus on building brand awareness throughout FY2025 and beyond...
Despite challenges in the Victorian Construction Industry – such as rising material costs, Worker shortages, and concerns around wellbeing – we have remained steadfast in supporting our Employer members. We provide education and advice to help Employers understand and comply with their obligations under the LeavePlus Scheme. By facilitating Long Service Leave Benefits, we ensure that Workers and Working Sub-Contractors can take necessary rest and rejuvenation, maintaining employment and engagement within the industry.
FY2024 also saw changes to our Rules to extend coverage of the LeavePlus Scheme to Employers who engage Workers to perform all classes of trades, plant operator and labour work associated with the electrical assembly of switchboards made for specific construction projects (offsite switchboard work), as well as Employers who engage Workers to perform all classes of trades, plant operator and labour work associated with the offsite construction, production, erection, or installation of precast concrete elements for construction projects (offsite precast concrete work). These Rule changes were approved by the Governor in Council in December 2023 and became effective on 1 July 2024. These changes ensure that Workers performing offsite switchboard work and offsite precast concrete work can also benefit from portable long service leave after 7 years of work in the Construction Industry in Victoria.
Along with Scheme expansion, we have also taken steps to strengthen our regulatory effectiveness, including through the expansion of our Field Officer team, the piloting of an in-house litigation team to support our enforcement activities, and the forging of new data sharing partnerships with other regulatory bodies such as the Victorian Building Authority (VBA). These partnerships enhance not only our own compliance capability as we identify Employers who are not registered with, and reporting to, LeavePlus, but also improve our regulatory effectiveness through the reach of these co-regulatory partners. By ensuring all Employers do the right thing and contribute for their Workers’ portable long service leave, we strengthen the LeavePlus Scheme into the future.
Turning to our results, we are pleased to report the following achievements for FY2024;
· Paid Long Service Leave Benefits: $219.7 million (up 15% on FY2023).
· Worker Membership: 279,474 members (increase of 2%).
· Employer LSL Charges Collected: $271.7 million (slight decrease of 1% from FY2023).
· Fund Balance: $2.2 billion (up 8% from FY2023).
· Investment Return: 7.85% (compares to 7.50% in FY2023).
· Accrued Funding Ratio: 125.4% (compares to 124.6% in FY2023, reflecting our strong financial position).
The Fund remains in a robust financial position. Our investment strategy, which maintains a long-term horizon to meet our liabilities, has yielded positive results across all asset classes, with equities being the largest contributors delivering a 15.55% return for the year. The accrued funding ratio has increased, demonstrating the Fund’s strength and our prudent financial management.
We wish to thank our members and industry stakeholders for their ongoing support of LeavePlus and the Construction Industry’s portable long service leave scheme. Our heartfelt gratitude goes to our staff for their dedication and hard work, and to our Executive team for their leadership and strategic vision. We also acknowledge the contributions of departing Directors: Di Fulton, Raoul Wainwright, Lou Malgeri, and Chris Patterson for their dedication and invaluable Service. We warmly welcome new Directors: Michelle McLean, Michael Paynter, Stephen Fodrocy, and Ivan Balta, who bring a wealth of experience to our Board.
Looking ahead to FY2025, we are committed to pursuing our ambitions with renewed vigour. With initiatives like our business transformation project, completion of our building refurbishment, and supporting our regulatory effectiveness with enhanced compliance and enforcement campaigns, we are confident of a bright and resilient future for LeavePlus, our members, and the Victorian Construction Industry.
Thank you for your continued support.
Jenny Acton
Chair of the Board of Directors, LeavePlus
Craig Bell
Chief Executive Officer, LeavePlus
VISION, PURPOSE, & VALUES
VISION, PURPOSE, & VALUES
VISION
To be the best operator of a portable entitlement scheme.
PURPOSE
To support and protect the long-term wellbeing of construction workers and the vitality of the construction industry.
VALUES
HERE FOR MEMBERS
Our members are at the centre of everything we do.
THRIVE TOGETHER
We collaborate to overcome challenges and celebrate our achievements.
ANTICIPATE & CREATE
We are encouraged and supported to grow and trusted with responsibility. We respect and care for each other and value diversity.
EMPOWER OUR PEOPLE
We are curious, seek out new ideas and find a way to make change real.
VISION
To be the best operator of a portable entitlement scheme.
PURPOSE
To support and protect the long-term wellbeing of construction workers and the vitality of the construction industry.
VALUES
HERE FOR MEMBERS
Our members are at the centre of everything we do.
THRIVE TOGETHER
We collaborate to overcome challenges and celebrate our achievements.
ANTICIPATE & CREATE
We are encouraged and supported to grow and trusted with responsibility. We respect and care for each other and value diversity.
EMPOWER OUR PEOPLE
We are curious, seek out new ideas and find a way to make change real.
COMPLIANCE & ENFORCEMENT
COMPLIANCE & ENFORCEMENT
The LeavePlus Scheme is compulsory for Employers who engage Workers to perform Construction Work in the Construction Industry in Victoria.
Employers are required by law to register with LeavePlus, to submit quarterly Returns of their Workers’ Ordinary Pay and days of Service, and to pay a Long Service Leave Charge to LeavePlus each quarter.
A failure by an Employer to pay Long Service Leave Charges to LeavePlus is a form of wage theft. These Employers also create an unfair playing field within the Construction Industry, with compliant Employers effectively subsidising those Employers who are non-compliant.
Workers also miss out, as without Service being reported to us by Employers, we may not have the information we need to pay a Long Service Leave Benefit to them.
The purpose of our Compliance and Enforcement team is to ensure that all Employers meet their obligations under the Scheme. This includes:
+ Educating Employers and Workers about the LeavePlus Scheme, including through tool-box talks on construction projects and through engagement with Employer associations.
+ Developing co-regulatory approaches with other Victorian agencies such as the Fair Jobs Code Unit and the Victorian Building Authority, to identify Construction Industry Employers that have not registered with LeavePlus and are not complying with their obligations under the Scheme.
+ Using industry and ABR data to identify unregistered Employers and initiating the registration process with the Employer.
+ Using our statutory powers to compel Employers to submit information to LeavePlus about their Workers’ days and wages, so that we can credit Service to Workers and invoice Employers for their unpaid Long Service Leave Charges.
+ Prosecuting Employers in the Magistrates Court if they fail to comply with the reporting obligations to LeavePlus.
+ Taking civil action in court against Employers who fail to pay Long Service Leave Charges to LeavePlus.
+ Undertaking missing Service investigations for Workers, where their Employers have not reported or have not fully reported Service to LeavePlus.
Some of our team’s achievements in FY2024 included:
+ 3,035 new Employer Registrations.
+ Standardising our approach to backdating Service at the time of Registration, to ensure we have complete Service records for Workers in the industry.
+ 4,141 missing Service queries closed, enabling Workers to be credited with their unreported Service in the industry.
+ More than $79 million collected in unpaid Long Service Leave Charges from invoices that were more than 14 days past due.
+ 10,952 section 10 notices issued, to require Employers to comply with their reporting obligations under the Scheme.
+ 68 matters listed with the Magistrates court for Employers who failed to comply with section 10 notices issued by LeavePlus.
+ 304 field engagements to educate Workers, Employers and other industry stakeholders about the LeavePlus Scheme.
LEAVEPLUS REBRAND
LEAVEPLUS REBRAND
LeavePlus: A Strategic Rebrand Aligning Purpose With Pogress
This milestone is not just about a new name or logo — it’s a testament to our collective efforts in embracing change and driving our mission forward.
In August 2023, we transitioned to the LeavePlus brand, a name that clearly reflects our mission and the value we deliver. Since 1992, we operated as CoINVEST, but feedback indicated that the name did not effectively convey our core purpose.
LeavePlus succinctly communicates to our members that we manage their long Service leave, which continues to accumulate as they advance in their careers – providing the benefit of portable long service leave that follows them wherever they go.
With this rebrand, we are now focused on building brand awareness throughout FY2025 and beyond. This change was a strategic step in aligning our identity with our purpose: supporting and protecting the long-term wellbeing of construction Workers and ensuring the vitality of the Construction Industry. Over the past year, we have witnessed the tangible benefits of this renewed focus, from Service innovations to strengthened relationships with our stakeholders.
Through this journey, we have not only preserved the Trust established under the CoINVEST name but have also expanded it, positioning LeavePlus as a leader in our field. As we move toward our vision of becoming the best operator of a portable entitlement scheme, we remain committed to our core mission while continuously seeking new opportunities to innovate and grow.
BUSINESS TRANSFORMATION
BUSINESS TRANS-
FORMATION
As well as updating our brand identity and renovating our office building; our commitment to being the best operator of a portable entitlement scheme also extends to transforming the way we work.
In 2024, we launched a large program of business-wide initiatives to modernise our services, technology, and ways of working to improve the way we deliver value to our members. We named this transformational program Project Elevate to emphasise our dedication to improving how we can administer the portable long service leave scheme to our members in a way that is efficient, comprehensive, and scalable.
Over the course of the transformation project, we have been consulting and collaborating with Employer and Worker members in the Construction Industry to improve the experience when interacting with us and how we deliver our services. The program is being delivered across a series of project increments, with the completion of each stage delivering incremental value to our members whilst simultaneously contributing to the completion of the
overall transformation.
Foundational Focus:
The initial stages of the project took aim at foundational improvements such as policy implementation and setting up systems and technology platforms. This has laid the groundwork for future contingent stages to be mapped out and scoped for delivery using an agile framework.
Elemental Elevation:
After primary foundational improvements had been delivered, the project has now transitioned into a more targeted focus on elevating the elements that impact members early in their regulatory and administrative journey, such as registering with the Scheme, submitting Returns, and payment compliance.
Cross-Functional Collaboration:
Project Elevate brings together a wide range of collaborators and skillsets into a cohesive team comprising data experts, software engineers, business analysts and experience designers to break down where the current pain points are and how we can uplift our Service delivery to members.
We’re achieving our goals by simplifying the way we work and the tools we use, and we’re making data-driven decisions to help us continuously improve. Project Elevate has an anticipated duration of around two years to completion, and we have already made great progress throughout FY2024. We are excited to bring our members further updates as the transformation progresses through each delivery stage.
OUR PEOPLE
OUR PEOPLE
During FY2024, our People & Culture (P&C) team at LeavePlus made significant progress in recruitment, employee retention, learning and development, and diversity, equity, and inclusion (DEI) initiatives. We also embarked on important projects like implementing a new Enterprise Agreement (EA) and planning for the ELMO Human Resource Management System (HRMS). Here’s an overview of our achievements and ongoing efforts to enhance our workplace.
Recruitment & Talent Acquisition
Our Talent Acquisition team focused on reducing the time it takes to fill open positions, achieving a noticeable decrease by the fourth quarter. We enhanced our recruitment strategies by increasing resources, promoting internal mobility, and utilising more effective headhunting methods. An updated Employee Value Proposition (EVP) was launched on LinkedIn, boosting our appeal to potential candidates.
Whilst we primarily sourced talent through direct applications, we engaged agencies and headhunting services when necessary to ensure we recruited the best talent. Looking ahead to FY2025, we’re planning to build talent pools, improve candidate care, and enhance our internal referral processes to ensure future resilience. We’re proud that new hires reported a 98% satisfaction rate with our recruitment and onboarding processes, highlighting clear role descriptions and career opportunities as key attractions.
Our Talent Acquisition team focused on reducing the time it takes to fill open positions, achieving a noticeable decrease by the fourth quarter. We enhanced our recruitment strategies by increasing resources, promoting internal mobility, and utilising more effective headhunting methods. An updated Employee Value Proposition (EVP) was launched on LinkedIn, boosting our appeal to potential candidates.
Whilst we primarily sourced talent through direct applications, we engaged agencies and headhunting services when necessary to ensure we recruited the best talent. Looking ahead to FY2025, we’re planning to build talent pools, improve candidate care, and enhance our internal referral processes to ensure future resilience. We’re proud that new hires reported a 98% satisfaction rate with our recruitment and onboarding processes, highlighting clear role descriptions and career opportunities as key attractions.
Learning & Development
In FY2024, we prioritised mandatory compliance training and supported individual development aligned with specific role goals.
We offered courses such as Power BI, emotional intelligence, and cybersecurity.
To address feedback on role expectations, our team refined learning objectives and developed training programs that align with immediate needs and our broader Project Elevate initiatives, which aim to boost internal capabilities.
In FY2024, we prioritised mandatory compliance training and supported individual development aligned with specific role goals.
We offered courses such as Power BI, emotional intelligence, and cybersecurity.
To address feedback on role expectations, our team refined learning objectives and developed training programs that align with immediate needs and our broader Project Elevate initiatives, which aim to boost internal capabilities.
Diversity, Equity & Inclusion (DEI)
We advanced our DEI agenda by implementing a strategic action plan focusing on data analysis, policy development, and employee engagement.
Insights from surveys have driven initiatives to foster a more inclusive environment, with a significant emphasis on engaging employees from diverse backgrounds through tailored DEI activities.
We advanced our DEI agenda by implementing a strategic action plan focusing on data analysis, policy development, and employee engagement.
Insights from surveys have driven initiatives to foster a more inclusive environment, with a significant emphasis on engaging employees from diverse backgrounds through tailored DEI activities.
Health & Wellness
Employee wellbeing remained a top priority. Our P&C team actively managed mental health support through the Employee Assistance Program (EAP).
A number of activities for staff were held during the year that further supported health and wellbeing initiatives across the business.
Employee wellbeing remained a top priority. Our P&C team actively managed mental health support through the Employee Assistance Program (EAP).
A number of activities for staff were held during the year that further supported health and wellbeing initiatives across the business.
Enterprise Agreement
In FY2024, we finalised negotiations for a new Enterprise Agreement (EA) that came into effect on 23 November 2023, marking an important step in aligning our workforce goals with employee expectations. The EA aims to address core aspects of employee engagement such as compensation, benefits, and work conditions, reinforcing our commitment to a supportive and fair workplace.
The negotiation process involved close collaboration with employee representatives and key stakeholders to ensure the agreement reflects the needs of our diverse workforce. By addressing key areas identified through engagement surveys and employee feedback, this EA is expected to play a pivotal role in enhancing workforce stability, job satisfaction, and overall morale. As we continue to grow, the EA will help us maintain a workplace where employees feel valued and empowered.
In FY2024, we finalised negotiations for a new Enterprise Agreement (EA) that came into effect on 23 November 2023, marking an important step in aligning our workforce goals with employee expectations. The EA aims to address core aspects of employee engagement such as compensation, benefits, and work conditions, reinforcing our commitment to a supportive and fair workplace.
The negotiation process involved close collaboration with employee representatives and key stakeholders to ensure the agreement reflects the needs of our diverse workforce. By addressing key areas identified through engagement surveys and employee feedback, this EA is expected to play a pivotal role in enhancing workforce stability, job satisfaction, and overall morale. As we continue to grow, the EA will help us maintain a workplace where employees feel valued and empowered.
FY2024 HIGHLIGHTS
FY2024 HIGHLIGHTS
KEY MEMBERSHIP HIGHLIGHTS
71,982
CALLS RECEIVED
12,299
EMAIL ENQUIRIES ACTIONED
24,212
LONG SERVICE LEAVE BENEFITS PAID
11.70
AVERAGE BUSINESS DAYS TO PAY BENEFITS
3,041
NEW EMPLOYER MEMBERS REGISTERED
18,971
ACTIVE EMPLOYER MEMBERS REGISTERED
26,722
NEW WORKER MEMBERS REGISTERED
$9,080
AVERAGE BENEFIT PAYMENT AMOUNT
$271.7M
TOTAL LONG SERVICE LEAVE CHARGES COLLECTED
$475.30
AVERAGE QUARTERLY LONG SERVICE LEAVE CHARGE PER WORKER
250,429
ACTIVE WORKER MEMBERS
74,335
MEMBERS ELIGIBLE TO CLAIM A LONG SERVICE LEAVE BENEFIT
FY2024 HIGHLIGHTS
FY2024 HIGHLIGHTS
KEY FUND HIGHLIGHTS
$2.2 BILLION
VALUE OF THE FUND
$219.7 MILLION
BENEFITS PAID TO MEMBERS
7.85%
INVESTMENT RETURN TO THE FUND
9 YEARS
SCHEME HAS BEEN FULLY FUNDED
125.4%
FUNDING RATIO - THE FUND'S ABILITY TO PAY CURRENT AND PROJECTED LSL BENEFITS AS AT 30 JUNE 2024
FY2024 YEAR IN REVIEW VIDEO
FY2024 YEAR IN REVIEW VIDEO
KEY FUND HIGHLIGHTS
The twelve-month period from 1 July 2023 to 30 June 2024 was a truly historic time for your Construction Industry Long Service Leave Scheme.
We commenced refurbishment work on our office building (including the development of a brand-new member centre), and, perhaps most notably, we rebranded the Scheme from CoINVEST to LeavePlus.
FY2024 saw strong returns to the Long Service Leave Fund, and it also marked the introduction of our hugely significant business transformation project. LeavePlus CEO Craig Bell takes you through the key milestones of FY2024 in our ‘Year In Review’ video.
INVESTMENT REPORT
INVESTMENT REPORT
FY2024
FY2024 was positive for global markets, despite challenges like high inflation, rising interest rates, and geopolitical conflicts. Listed equity markets posted strong gains, driven by a combination of economic resilience and volatility, shaped by both domestic and international factors. The conflicts in Israel-Palestine and Russia-Ukraine heightened geopolitical uncertainty, though their direct effect on market performance remained limited.
Globally, inflation slowed but concerns about the cost of living persisted. In Australia, the effects of rising prices were particularly felt in the cost of essential goods and services. Food prices increased by approximately 3%, healthcare costs by 6%, rents by 7%, and insurance premiums by nearly 8% in the year leading up to May 2024. Homeowners with mortgages faced additional strain due to elevated interest rates.
On a positive note, global interest rates appeared to peak, with most central banks holding cash rates steady. Some even cut rates due to subdued economic activity and declining inflation. The Reserve Bank of Australia (RBA), however, maintained a cautious stance, citing persistent inflation concerns.
Amidst these challenging conditions, the LeavePlus investment portfolio delivered a 7.85% return for the financial year. This performance was driven by a risk-focused, diversified investment strategy, with investments spread across listed equities, real assets, alternatives, fixed income, and cash, aiming for balanced long-term growth. LeavePlus also employed downside protection measures, including alternative and defensive assets, as well as currency hedging.
Due to the positive investment return for the financial year, the Fund maintained a strong accrued funding ratio of 125.4% as at 30 June 2024. This ratio indicates the Fund’s ability to meet its long service leave obligations, meaning it holds assets equal to 125.4% of the amount needed to cover all expected current and future Long Service Leave Benefits for members.
Looking ahead to the 2024-2025 financial year, both the Australian economy and global markets will navigate a complex landscape of opportunities and risks. Persistent inflationary pressures could lead to a prolonged high-interest rate environment, while ongoing geopolitical tensions remain significant threats to global stability. Additionally, the U.S. Presidential and Congressional elections in November 2024 could have a profound impact on the global political and economic environment.
In this dynamic environment, maintaining a disciplined investment approach will be crucial for achieving long-term success. LeavePlus remains committed to a well-diversified and actively managed portfolio, with the goal of generating sustained returns to support Long Service Leave Benefits for Workers.
The annual investment return of the Fund for FY2024 was 7.85%, net of investment manager fees and taxes. All asset classes, apart from real assets, contributed to this strong performance. Listed equities led the way with a
15.55% return, while real assets produced a loss, mainly due to declining valuations in unlisted property. Strong market gains and positive cashflows saw the Fund grow by $167 million to close the financial year with a value of $2.17 billion.
While LeavePlus is pleased with this year’s positive performance, the focus remains on long-term goals to ensure the Fund’s ability to meet its obligations to members. The Fund’s 10-year investment return of 7.19% per year is well above the return objective of 5.93% per year, helping to ensure strong, long-term results.
The portfolio has been carefully designed in consultation with LeavePlus asset consultant, with risk objectives to limit the likelihood of a negative return to no more than 5 in 20 years, and to limit the likelihood of a negative return in any year to no more than -12.5%. These objectives have been successfully met over the past two decades.
LeavePlus works closely with its asset consultant to position the portfolio with regular market and economic insights on strategic asset allocation and monitoring of investment fund managers.
STRATEGIC ASSET ALLOCATION
LeavePlus has defined a Strategic Asset Allocation (SAA) range that aligns with its long-term investment objective in a risk adjusted manner and maintains an SAA target, which is typically the mid-point of the SAA range. The investment portfolio is managed to attain an actual asset allocation that mirrors the SAA. A summary of the Fund’s SAA and asset class performance is as follows:
ASSET CLASS PERFORMANCE OVERVIEW
The performance of the LeavePlus portfolio for FY2024 reflects the diverse strategies employed across different asset classes. The portfolio benefited from strong returns in equities and alternatives, while real assets experienced a second consecutive year of decline. This balanced and diversified approach is key to achieving the long-term objectives of the Fund.
PERFORMANCE COMMENTARY
EQUITIES
Both domestic and international equities were the largest contributors to overall performance, driving almost 80% of the total fund return for the financial year. The net return on equities was 15.55% after accounting for investment manager fees and taxes. International equities led the way, returning 16.70%, while domestic equities returned 12.65%.
REAL ASSETS
Real assets were the lowest performing asset class for the second consecutive financial year, and the only asset class to post a negative return during this financial year, detracting 4.09% from the total Fund return. This decline was solely driven by losses in unlisted property, which experienced significant devaluations due to softer valuation metrics. Despite this, listed property, and both listed and unlisted infrastructure, generated positive investment returns, which helped soften the impact of the losses.
ALTERNATIVES
Alternatives delivered a strong return of 11.13% over the financial year, playing a critical role in enhancing diversification and delivering growth-like performance amidst market volatility. Credit strategies outperformed with an 11.88% return, while multi-asset strategies following closely with 9.75%.
FIXED INCOME
Fixed Income produced a positive result of 4.12% for the financial year, driven predominantly by favourable security selection in treasuries and investment grade bonds.
CASH
The Australian cash rate, set by the Reserve Bank of Australia (RBA), rose to 4.35% in November 2023, where it remained throughout the financial year. Our cash returned 4.55% during this time.
INVESTMENT EXPENSE RATIO
An Investment Expense Ratio (IER) reflects the total cost of managing the Fund’s investments and includes investment manager fees, custodian and asset consultant fees, time spent managing the Fund’s investments by Management, the Investment Committee and the Board, and an allocation of overheads. The IER is calculated by dividing these total expenses by the average value of the investment portfolio across the year.
The IER for financial year 2024 was 0.61% (2023: 0.60%). The annual investment performance has been quoted as net of investment manager fees and taxes at 7.85% (refer above). This annual return performance reduces to 7.74% after all investment expenses and taxes.
INVESTMENT GOVERNANCE
LeavePlus is responsible for the stewardship of the Fund’s assets on behalf of its members. In this role as Trustee of the Fund, LeavePlus must act in the best interests of current and future Beneficiaries of the Fund, and prudently invest and manage the assets, while retaining a liability-aware approach to liquidity and volatility risk. Liabilities include member Long Service Leave Benefits for Workers and operational expenses. Consistent with LeavePlus’ core beliefs, investment decisions are guided by a comprehensive Investment Governance Framework that outlines the Board’s approach to decision-making, accountability, and oversight.
The governance structure places ultimate decision-making authority with the Board, while the Investment Committee is responsible for overseeing the investment governance process.
An independent asset consultant provides advice and monitoring to support investment activities. LeavePlus also engages external investment managers to execute investment decisions aimed at achieving the Fund’s investment objectives. Internally, LeavePlus manages direct property investments (with the aid of a property manager) and cash holdings.
Investment governance includes the rules and principles that guide LeavePlus’ investment processes, ensuring decisions are responsible, transparent, aligned with the Fund’s objectives and in the best interests of its members.
The investment process is designed to achieve optimal results, manage risks, and fulfill responsibilities. The key components of the investment process within the governance framework include:
INVESTMENT GOVERNANCE FRAMEWORK
INVESTMENT GOVERNANCE FRAMEWORK
1. Investment Purpose & Beliefs:
The investment purpose and core beliefs form the foundation of the governance framework, serving as guiding principles for all investment decisions.
2. Investment Strategy:
The investment strategy outlines the investment objectives, risk tolerance, investment horizon, liquidity requirements, and performance expectations. It also determines the long-term allocation of capital across various asset classes. The Board is responsible for approving investment strategy.
3. Portfolio Construction:
Portfolio construction involves detailed strategic asset allocation and integrated risk management. Risk management entails setting risk limits, using risk assessment metrics, and establishing protocols for escalation when risks exceed predefined thresholds, ensuring that all exposures are thoroughly assessed and managed.
4. Implementation:
Portfolio implementation focuses on selecting investment managers to execute the strategy. LeavePlus follows a rigorous due diligence process, including qualitative and quantitative assessments of each manager’s capabilities, performance, and alignment with investment objectives.
5. Monitoring:
Monitoring involves continuous assessment of investment performance relative to benchmarks and objectives. This structured process ensures accountability and transparency through performance reviews and reporting. The Investment Committee and Board regularly review these reports to identify potential issues or adjustments needed in the portfolio’s construction, implementation, or strategy. Compliance monitoring ensures adherence to relevant laws, regulations, investment guidelines, and LeavePlus’ beliefs.
The governance framework, along with the investment process, is regularly reviewed and updated to adapt to changing circumstances. It evolves to incorporate best practice, advancements and insights gained from past experiences.
FUND MANAGERS
FUND MANAGERS
ASSETS CLASS / FUND MANAGERS AS AT 30 JUNE 2024
EQUITIES
Wellington Asset Management LLP
Veritas Asset Management LLP
American Century Investments
Polaris Capital Management LLC
Northcape Capital
Hyperion Asset Management
Merlon Capital Partners
REAL ASSETS
Morgan Stanley Investment Management (NHGIF I)
Morgan Stanley Investment Management (NHGIF II)
Ancala Partners LLP
Maple Brown Abbott
Internally Managed Direct Property – 478 Albert St, East Melbourne
Mirvac Funds Management Australia Limited
Barwon Investment Partners
Europa Capital
Resolution Capital Ltd
Palisade Impact Pty Ltd
Palisade Investment Partners Limited
ALTERNATIVE
Fulcrum Asset Management LLP
Oakhill Advisors
Towers Watson Investment Management
CURRENCY OVERLAY
Tactical Global Management
FIXED INCOME
Macquarie Investment Management Global Ltd
CASH
Internally Managed Cash held with Westpac and AMP
BOARD OF DIRECTORS
BOARD OF DIRECTORS
AS AT 30 JUNE 2024
JENNY ACTON
INDEPENDENT DIRECTOR & CHAIR
DAVID ST. JOHN
INDEPENDENT DIRECTOR
MICHELLE MCLEAN
INDEPENDENT DIRECTOR
Chair of Remuneration, People & Culture Committee, Chair of Business Transformation Committee | Member of Investment Committee and Audit, Risk & Compliance Committee
Jenny Acton was appointed as a Director and Chair of the Board on 1 October 2021. Jenny is also Chair and a Director of State Trustees Limited, STL (Financial Services) Limited and the Port of Hastings Corporation and the Principal of Jennifer Acton Consulting. She has previously been a Non-Executive Director in the transport, water and education sectors. Jenny was a Senior Presidential member of Australia’s national workplace relations tribunal. She holds degrees in economics and law. Jenny is a Barrister and Solicitor of the Supreme Court of Victoria and has been accredited as a mediator under the Australian National Mediator Standards.
Chair of Investment Committee | Member of Audit, Risk & Compliance Committee and Remuneration, People & Culture Committee and Business Transformation Committee
David St. John was appointed as a Director of the Board on 1 October 2019. David has an extensive background in investment management as a practitioner and as a consultant. He currently sits on the Investment Committee at GrainGrowers Limited as an Independent Investment Expert. David’s career included investment consulting at William M. Mercer where he was a Worldwide Partner, and he was Chief Investment Officer at UniSuper for eight years from 2001 to 2009. He also has experience as: a Member of Deakin University’s Investment Committee; a Member and Chair of Legal Super’s Investment Committee; and a Non-Executive Director of the Motor Accidents Insurance Board in Tasmania. David holds a Bachelor of Agricultural Science (BAgrSc), a Master of Business Administration (MBA), and a Graduate Diploma in Applied Finance and Investment. He is a Senior Fellow of the Financial Services Institute of Australasia (SF Fin) and a Fellow
of the Australian Institute of Company Directors (FAICD).
Chair of the Audit, Risk & Compliance Committee | Member of Investment Committee and Remuneration, People & Culture Committee
Michelle McLean was appointed as a Director of the Board on 1 October 2023. Michelle is also a Board member of Frontier FSI, East Gippsland Water, Jordamm Pty Ltd and Macca Pty Ltd. Previously, Michelle was the Chief Commissioner of the Victorian Building Authority, and Deputy Chair of the Country Fire Authority (CFA) was Managing Partner and CEO of the law firm Cornwall Stodart (now Cornwalls). She has also been President of the Australian Legal Practice Management Association (where she is a life member), an Advisory Board member of the Melbourne University Business School, an Executive Council member of the Victorian Chamber of Commerce and Industry, and a Board member of the Mercy Health Foundation, the Overnewton Anglican Community College and Acom International.
ROBERT GRAAUMANS
BUILDING TRADES WORKERS
PADDY MCCRUDDEN
BUILDING TRADES WORKERS
CHRIS PATTERSON
ELECTRICAL TRADES WORKERS
Member of Audit, Risk & Compliance Committee
Robert Graauwmans was appointed as a Director of the Board on 1 July 2017. He served as a full time official of the CFMEU from 2006 to 2024, where he initially managed responsibilities for the Western Districts of Victoria for six years before relocating to Melbourne to represent Mobile Crane Hire and the Inner Eastern Suburbs. Robert has also previously held the positions of President of the CFMEU in Victoria and Director of Incolink.
Member of Investment Committee
Paddy McCrudden was appointed as a Director of the Board on 22 November 2012. Paddy was employed by CBUS from 2005 to 2010. He re-joined the Plumbing Trades Employees Union in 2010 and currently holds the positions of Assistant Secretary and Federal Divisional President. He is also a director of the Plumbing Industry Climate Action Centre, the Plumbing Joint Training Fund, and the Plumbing Industry Development Fund.
Member of Business Transformation Committee
Chris Patterson was appointed as a Director of the Board on 1 July 2023. He has been an electrician working in the contracting industry with over 20 years’ experience. Working on a broad range of projects including warehouses, factories, domestic housing and high-rise apartments, shopping centres, industrial maintenance, installation and repairs, automatic logic, PLC’s, and lighting controls. Prior to his resignation from the Board, Chris has been representing electrical workers for over 10 years and most recently worked for ETU Victoria where he led the contracting industry covering over 10,000 members state-wide. Chris resigned from the Board, effective 26 July 2024.
STEPHEN FODROCY
METAL TRADES WORKERS
MICHAEL PAYNTER
METAL TRADES EMPLOYERS
GRANT DONALD
BUILDING TRADES EMPLOYERS
(Term commenced May 2024)
Stephen Fodrocy was appointed as a Director of the Board on 20 May 2024. Stephen has been an industrial officer of the AMWU since 2022, with experience representing metal workers and their interests at the workplace level and before the Fair Work Commission and Federal Circuit Court of Australia. He was previously a lawyer in the public service. He is a voluntary Board member of the Moonee Valley Legal Service, and also provides free legal assistance to clients of the Service in his spare time. Stephen is admitted to practice as a lawyer in the Supreme Court of Victoria and holds a current practising certificate. He has been awarded a Bachelor of Arts (University of Melbourne), Graduate Diploma of Legal Practice (ANU), and Juris Doctor (University of Melbourne).
Member of Audit, Risk & Compliance Committee
Michael Paynter was appointed as a Director of the Board on 1 July 2023. Michael holds a Bachelor of Laws; a Bachelor of Economics; and a Post Graduate Diploma in Industrial Relations from Monash University. Michael has over 40 years of Industrial Relations experience, representing business and government on major projects in Victoria, including the Regional Rail Link, Melbourne Airport, the Australian Grand Prix, and the Suburban Rail Loop. Michael is an advisor to the Incolink No. 2 Redundancy Fund and is the principal consultant of Peregrine Industrial, an Industrial Relations and Workplace Relations consultancy, providing strategic advice to government departments and other major organisations.
Michael is also on the Incolink No 2 Fund Board for South Australia and NSW and holds a principal consultant position with Peregrine Industrial, an Industrial and Workplace Relations consultancy firm providing strategic advice to government departments and other major organisations.
Member of Remuneration, People & Culture Committee
Grant Donald was appointed as a Director of the Board on 1 February 2017. He is a Director of Premier Plumbing Service (Victoria) Pty Ltd, a long-standing family-run commercial plumbing business based in Ballarat. Grant also serves on the National Council of the Major Contractor Division and is an Executive Board Member and the Honourable Treasurer of the Master Plumbers and Mechanical Services Association of Australia. In addition, he is a member of the Australian Institute of Company Directors and serves as a Justice of the Peace.
DAVID NEWNHAM
BUILDING TRADES EMPLOYERS
MICHAEL PURNELL
ELECTRICAL TRADES EMPLOYERS
Member of Investment Committee
David Newnham was appointed as a Director of the Board on 1 July 2011, after being an alternate Director since March 2011. David has 40 years of experience in the construction industry after graduating as a civil engineer. He has been State Building Manager for AV Jennings. After a management buyout of Stonehaven Homes in 1997, he became Managing Director retiring in 2016. He remains a director of the company. David has been a Director and President of the Master Builders Association of Victoria and was a member of the Building Practitioners Board from 1998 to 2006. He has also served as a Director of Incolink, the construction industry severance fund. David has also served as an expert witness for registration appeals at the Victorian Building Authority and mentor for the Victorian Small Business Mentoring Service. David is also currently a Director of Lynden Aged Care and Folio3 Homes Pty Ltd (which is no longer trading).
Member of Audit, Risk & Compliance Committe and Business Transformation Committee
Michael Purnell was appointed as a Director of the Board on 16 March 2016. Michael has a long history of Company Director, General Management and Management Consulting roles with high profile organisations, including 21 years in the construction industry. Michael has served on the National & Victorian Councils of the National Electrical Contractors Association (NECA) as well as the NECA Industry Advisory Committee. He is currently a Director of ElecNet Australia Pty Ltd (trading as Protect), Protect Services Pty Ltd, NECA Education & Careers, Future Energy Skills and is an owner of Michael Purnell & Associates. Michael is a member of the Australian Institute of Company Directors and a member of the Australian Society of Accountants. Michael is also Councilor of NECA Victoria Division.
JENNY ACTON
INDEPENDENT DIRECTOR & CHAIR
Chair of Remuneration, People & Culture Committee, Chair of Business Transformation Committee | Member of Investment Committee and Audit, Risk & Compliance Committee
Jenny Acton was appointed as a Director and Chair of the Board on 1 October 2021. Jenny is also Chair and a Director of State Trustees Limited, STL (Financial Services) Limited and the Port of Hastings Corporation and the Principal of Jennifer Acton Consulting. She has previously been a Non-Executive Director in the transport, water and education sectors. Jenny was a Senior Presidential member of Australia’s national workplace relations tribunal. She holds degrees in economics and law. Jenny is a Barrister and Solicitor of the Supreme Court of Victoria and has been accredited as a mediator under the Australian National Mediator Standards.
DAVID ST. JOHN
INDEPENDENT DIRECTOR
Chair of Investment Committee | Member of Audit, Risk & Compliance Committee and Remuneration, People & Culture Committee and Business Transformation Committee
David St. John was appointed as a Director of the Board on 1 October 2019. David has an extensive background in investment management as a practitioner and as a consultant. He currently sits on the Investment Committee at GrainGrowers Limited as an Independent Investment Expert. David’s career included investment consulting at William M. Mercer where he was a Worldwide Partner, and he was Chief Investment Officer at UniSuper for eight years from 2001 to 2009. He also has experience as: a Member of Deakin University’s Investment Committee; a Member and Chair of Legal Super’s Investment Committee; and a Non-Executive Director of the Motor Accidents Insurance Board in Tasmania. David holds a Bachelor of Agricultural Science (BAgrSc), a Master of Business Administration (MBA), and a Graduate Diploma in Applied Finance and Investment. He is a Senior Fellow of the Financial Services Institute of Australasia (SF Fin) and a Fellow
of the Australian Institute of Company Directors (FAICD).
MICHELLE MCLEAN
INDEPENDENT DIRECTOR
Chair of the Audit, Risk & Compliance Committee | Member of Investment Committee and Remuneration, People & Culture Committee
Michelle McLean was appointed as a Director of the Board on 1 October 2023. Michelle is also a Board member of Frontier FSI, East Gippsland Water, Jordamm Pty Ltd and Macca Pty Ltd. Previously, Michelle was the Chief Commissioner of the Victorian Building Authority, and Deputy Chair of the Country Fire Authority (CFA) was Managing Partner and CEO of the law firm Cornwall Stodart (now Cornwalls). She has also been President of the Australian Legal Practice Management Association (where she is a life member), an Advisory Board member of the Melbourne University Business School, an Executive Council member of the Victorian Chamber of Commerce and Industry, and a Board member of the Mercy Health Foundation, the Overnewton Anglican Community College and Acom International.
ROBERT GRAAUMANS
BUILDING TRADES WORKERS
Member of Audit, Risk & Compliance Committee
Robert Graauwmans was appointed as a Director of the Board on 1 July 2017. He served as a full time official of the CFMEU from 2006 to 2024, where he initially managed responsibilities for the Western Districts of Victoria for six years before relocating to Melbourne to represent Mobile Crane Hire and the Inner Eastern Suburbs. Robert has also previously held the positions of President of the CFMEU in Victoria and Director of Incolink.
PADDY MCCRUDDEN
BUILDING TRADES WORKERS
Member of Investment Committee
Paddy McCrudden was appointed as a Director of the Board on 22 November 2012. Paddy was employed by CBUS from 2005 to 2010. He re-joined the Plumbing Trades Employees Union in 2010 and currently holds the positions of Assistant Secretary and Federal Divisional President. He is also a director of the Plumbing Industry Climate Action Centre, the Plumbing Joint Training Fund, and the Plumbing Industry Development Fund.
CHRIS PATTERSON
ELECTRICAL TRADES WORKERS
Member of Business Transformation Committee
Chris Patterson was appointed as a Director of the Board on 1 July 2023. He has been an electrician working in the contracting industry with over 20 years’ experience. Working on a broad range of projects including warehouses, factories, domestic housing and high-rise apartments, shopping centres, industrial maintenance, installation and repairs, automatic logic, PLC’s, and lighting controls. Prior to his resignation from the Board, Chris has been representing electrical workers for over 10 years and most recently worked for ETU Victoria where he led the contracting industry covering over 10,000 members state-wide. Chris resigned from the Board, effective 26 July 2024.
STEPHEN FODROCY
METAL TRADES WORKERS
(Term commenced May 2024)
Stephen Fodrocy was appointed as a Director of the Board on 20 May 2024. Stephen has been an industrial officer of the AMWU since 2022, with experience representing metal workers and their interests at the workplace level and before the Fair Work Commission and Federal Circuit Court of Australia. He was previously a lawyer in the public service. He is a voluntary Board member of the Moonee Valley Legal Service, and also provides free legal assistance to clients of the Service in his spare time. Stephen is admitted to practice as a lawyer in the Supreme Court of Victoria and holds a current practising certificate. He has been awarded a Bachelor of Arts (University of Melbourne), Graduate Diploma of Legal Practice (ANU), and Juris Doctor (University of Melbourne).
MICHAEL PAYNTER
METAL TRADES EMPLOYERS
Member of Audit, Risk & Compliance Committee
Michael Paynter was appointed as a Director of the Board on 1 July 2023. Michael holds a Bachelor of Laws; a Bachelor of Economics; and a Post Graduate Diploma in Industrial Relations from Monash University. Michael has over 40 years of Industrial Relations experience, representing business and government on major projects in Victoria, including the Regional Rail Link, Melbourne Airport, the Australian Grand Prix, and the Suburban Rail Loop. Michael is an advisor to the Incolink No. 2 Redundancy Fund and is the principal consultant of Peregrine Industrial, an Industrial Relations and Workplace Relations consultancy, providing strategic advice to government departments and other major organisations.
Michael is also on the Incolink No 2 Fund Board for South Australia and NSW and holds a principal consultant position with Peregrine Industrial, an Industrial and Workplace Relations consultancy firm providing strategic advice to government departments and other major organisations.
GRANT DONALD
BUILDING TRADES EMPLOYERS
Member of Remuneration, People & Culture Committee
Grant Donald was appointed as a Director of the Board on 1 February 2017. He is a Director of Premier Plumbing Service (Victoria) Pty Ltd, a long-standing family-run commercial plumbing business based in Ballarat. Grant also serves on the National Council of the Major Contractor Division and is an Executive Board Member and the Honourable Treasurer of the Master Plumbers and Mechanical Services Association of Australia. In addition, he is a member of the Australian Institute of Company Directors and serves as a Justice of the Peace.
DAVID NEWNHAM
BUILDING TRADES EMPLOYERS
Member of Investment Committee
David Newnham was appointed as a Director of the Board on 1 July 2011, after being an alternate Director since March 2011. David has 40 years of experience in the construction industry after graduating as a civil engineer. He has been State Building Manager for AV Jennings. After a management buyout of Stonehaven Homes in 1997, he became Managing Director retiring in 2016. He remains a director of the company. David has been a Director and President of the Master Builders Association of Victoria and was a member of the Building Practitioners Board from 1998 to 2006. He has also served as a Director of Incolink, the construction industry severance fund. David has also served as an expert witness for registration appeals at the Victorian Building Authority and mentor for the Victorian Small Business Mentoring Service. David is also currently a Director of Lynden Aged Care and Folio3 Homes Pty Ltd (which is no longer trading).
MICHAEL PURNELL
ELECTRICAL TRADES EMPLOYERS
Member of Audit, Risk & Compliance Committe and Business Transformation Committee
Michael Purnell was appointed as a Director of the Board on 16 March 2016. Michael has a long history of Company Director, General Management and Management Consulting roles with high profile organisations, including 21 years in the construction industry. Michael has served on the National & Victorian Councils of the National Electrical Contractors Association (NECA) as well as the NECA Industry Advisory Committee. He is currently a Director of ElecNet Australia Pty Ltd (trading as Protect), Protect Services Pty Ltd, NECA Education & Careers, Future Energy Skills and is an owner of Michael Purnell & Associates. Michael is a member of the Australian Institute of Company Directors and a member of the Australian Society of Accountants. Michael is also Councilor of NECA Victoria Division.
EXECUTIVE TEAM
EXECUTIVE TEAM
AS AT 30 JUNE 2024
CRAIG BELL
Chief Executive Officer
LEWIS TASSONE
Chief Financial and Investment Officer
CATRYN TUCKWELL
Chief Legal and Compliance Officer
Craig has over 30 years in finance related roles, across a variety of industries including investment banking, state government, and member-based organisations. He is also the Chair of the Victorian Pride Centre and a director, and former Chair, of the Lord Mayor’s Charitable Foundation.
Before joining LeavePlus in September 2021, Craig was the CEO at Foresters Financial, one of Australia’s largest member-owned friendly societies that offers a range of investment and insurance products. Prior to this, Craig was the CFO for the Victorian Chamber of Commerce and Industry.
Craig is passionate about creating member-centric organisations. He is a Fellow of CPA Australia, a Graduate of the Australian Institute of Company Directors and holds a Bachelor of Commerce degree.
Lewis is an experienced finance professional who brings more than two decades of expertise in the financial services sector to his role as Chief Financial and Investment Officer at LeavePlus.
Prior to joining LeavePlus in September 2023, Lewis was the Group Executive responsible for Finance, Technology and Investment Operations at Hostplus, one of Australia’s largest industry superannuation funds. Prior to this, Lewis held senior finance positions at Victorian Managed Insurance Authority (VMIA), NAB/MLC, Mercer and KPMG.
Lewis is dedicated to relentlessly pursuing improved outcomes for members. Lewis is a Chartered Accountant, holds a Bachelor of Business (Accounting), as well as Diploma of Management and a Diploma in Organisational Leadership.
Catryn has an extensive background as a commercial lawyer and company secretary. Prior to joining LeavePlus in May 2022, she has previously held General Counsel roles at Arts Centre Melbourne, Scope, and Asahi brands.
Combining her legal skills and commercial acumen, Catryn is an experienced and proven business partner to senior management, with strengths in managing day-to-day legal risk, supporting transactions and strategic projects, and improving governance across the entire business.
DAVID LANG
General Manager, Technology and Innovation
CARLY HENDON
General Manager, People and Culture
David joined LeavePlus in February 2022 and has over 10 years of experience in IT senior roles across automotive, manufacturing, engineering, and motorsport industries, as well as not for profit, membership, and charity organisations.
He has an extensive background of leading teams, digital transformation, ERP implementation, cloud platform, security, and application implementation.
With previous senior IT roles at Movember and the Victorian Chamber of Commerce and Industry, David is a hands on IT manager with experience in implementing effective solutions across the whole of ITC infrastructure and business applications.
Carly joined LeavePlus in June 2022 and has a robust background in senior people and culture roles, most recently at Honan Insurance, Winc, and BP among others.
With over 13 years of experience in solutions-focused human resources projects, Carly is passionate about driving strategic and operational results in performance, engagement and change across all areas of LeavePlus.
CRAIG BELL
Chief Executive Officer
Craig has over 30 years in finance related roles, across a variety of industries including investment banking, state government, and member-based organisations. He is also the Chair of the Victorian Pride Centre and a director, and former Chair, of the Lord Mayor’s Charitable Foundation.
Before joining LeavePlus in September 2021, Craig was the CEO at Foresters Financial, one of Australia’s largest member-owned friendly societies that offers a range of investment and insurance products. Prior to this, Craig was the CFO for the Victorian Chamber of Commerce and Industry.
Craig is passionate about creating member-centric organisations. He is a Fellow of CPA Australia, a Graduate of the Australian Institute of Company Directors and holds a Bachelor of Commerce degree.
LEWIS TASSONE
Chief Financial and Investment Officer
Lewis is an experienced finance professional who brings more than two decades of expertise in the financial services sector to his role as Chief Financial and Investment Officer at LeavePlus.
Prior to joining LeavePlus in September 2023, Lewis was the Group Executive responsible for Finance, Technology and Investment Operations at Hostplus, one of Australia’s largest industry superannuation funds. Prior to this, Lewis held senior finance positions at Victorian Managed Insurance Authority (VMIA), NAB/MLC, Mercer and KPMG.
Lewis is dedicated to relentlessly pursuing improved outcomes for members. Lewis is a Chartered Accountant, holds a Bachelor of Business (Accounting), as well as Diploma of Management and a Diploma in Organisational Leadership.
CATRYN TUCKWELL
Chief Legal and Compliance Officer
Catryn has an extensive background as a commercial lawyer and company secretary. Prior to joining LeavePlus in May 2022, she has previously held General Counsel roles at Arts Centre Melbourne, Scope, and Asahi brands.
Combining her legal skills and commercial acumen, Catryn is an experienced and proven business partner to senior management, with strengths in managing day-to-day legal risk, supporting transactions and strategic projects, and improving governance across the entire business.
DAVID LANG
General Manager, Technology and Innovation
David joined LeavePlus in February 2022 and has over 10 years of experience in IT senior roles across automotive, manufacturing, engineering, and motorsport industries, as well as not for profit, membership, and charity organisations.
He has an extensive background of leading teams, digital transformation, ERP implementation, cloud platform, security, and application implementation.
With previous senior IT roles at Movember and the Victorian Chamber of Commerce and Industry, David is a hands on IT manager with experience in implementing effective solutions across the whole of ITC infrastructure and business applications.
CARLY HENDON
General Manager, People and Culture
Carly joined LeavePlus in June 2022 and has a robust background in senior people and culture roles, most recently at Honan Insurance, Winc, and BP among others.
With over 13 years of experience in solutions-focused human resources projects, Carly is passionate about driving strategic and operational results in performance, engagement and change across all areas of LeavePlus.
financial Report
Click the links below to download the Financial Report or the full Annual Report.