At an address this week, Westpac’s Australian Financial Services chief executive Brian Hartzer said he thinks businesses need to refresh their thinking on workplace restrictions – encouraging employers to break down barriers that hinder chances at success.

“It should be the objective of business, policy makers, organised labour, and the media to remove barriers to work,” Hartzer said, addressing the Trans-Tasman Business Circle in Sydney.

For Hartzer, flexible workplaces mean better access to child care and disability support, both of which help people re-enter or remain in the workforce.

The Westpac executive also say the country needs “a more enlightened national view of immigration”, especially as the economic reliance on the resources sector fades.

“I recognise this is a politically charged topic,” he said

“But if we are to grow, compete successfully, and reach our national potential, we simply must increase the size of our skilled workforce.”

“Where would Australia be without entrepreneurs like Frank Lowy, Harry Triguboff and Victor Smorgon, or world-renowned research biologist Sir Gus Nossal, the late heart specialist Dr Victor Chang, and the inventor of spray-on-skin, Dr Fiona Wood?”

With more open borders comes the flow of more open minds.

Skilled immigration and innovation are connected, the bank boss said.

“There is increasing evidence that for our economy to grow — and for Australia to develop alternatives to the resources sector — we need innovation industries.

“That’s because technology companies, advanced manufacturing, biotech, and so-called traded services — like law, consulting and architecture — employ higher-paid people from whom a larger share of earnings flows back into the community through their consumption of local services such as home renovation, house-keeping and hair-dressing,” Hartzer said.

“In short, you need a source of fresh money to drive the economy, and skilled knowledge workers provide that drive.”