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| January 2009 |
Vol 2, Issue 1 |
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| Greetings! |
Welcome to 2009! I think we all agree this will be a challenging year in business and Balance at Work is here to help you through it.
Our newsletter articles focus on making the best of any situation, with hints and tips on all aspects of people management. We are also excited about announcing new services and offers designed to meet your needs.
In this issue, we look at both assets and liabilities...
What measures to you have in place to manage your greatest assets, your people, in times of economic stress? Are you aware of the extent of leave liabilities and what to do about them?
Remember, we are delighted for you to forward newsletters to colleagues and friends you think will benefit from reading them.
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Or Call Us:
1300 785 150
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| How big is your leave liability? |
 A recent study found that around a third of all Australian employees do not take their full annual leave entitlement. Combined, this is a total liability of $3 billon for Australian businesses.
Do you know your current exposure to untaken leave? What about long service leave? Do you have the cash to cover these liabilities?
These questions become even more urgent questions if you think there's any possibility you will need to restructure. You will have to find that money, perhaps in a time of extreme financial stress.
Time in lieu further complicates the issue. Unless you have the resources to properly manage and monitor a structured system, we recommend you avoid using time in lieu.
Tip: You will find a tool for calculating annual leave and long service leave entitlements here
Actions:
1. Update your leave records for all staff and calculate your leave liability.
2. If you don't have a dedicated account to cover this liability, consider starting one.
3. Update your people management policies and practices to encourage the taking of leave as it falls due. |
| What's your New Year's business resolution? |
| (This article is reprinted from the previous issue, for those who missed it!)
If you want to grow your business in 2009, you must find, engage, motivate and retain top employees. With low unemployment, high staff mobility and skills shortages, how you recruit and manage your people is highly significant in determining your ongoing success.
We have put together this list of questions for you to consider as you plan the year ahead in business.
1. Do we have a robust recruitment process? Am I always sure what I'm looking for in a new employee before I start recruiting?
One of the easiest ways to make significant progress in your business is having a plan before you start looking for a new team member. Often, employing staff is like getting dressed: If you get the first button on your shirt done up properly, all the other buttons (steps) line up without any effort. If you get this step wrong, you have to waste time later fixing up the mess you've created.
First of all, you need to know exactly what type of person you want: What will the role entail? What skills, qualification and experience do they need to do the role? Which of these are 'must haves' and which are 'nice to haves'.
Next you need to think about where you might find them: Is advertising going to be effective, or should you use word of mouth or a recruitment agency?
Finally, look at how you interview and make your final decision: Are you seeing too many/too few candidates? Do they all get asked the same questions? What other assessments do you use, such as reference checks, pre-employment screening tests?
 2. Are our employment contracts compliant with workplace legislation and do they cover all the details?
Do we have documented policies and procedures so employees know what's expected? Can we give them a detailed job description? Now is an excellent time to look at your documentation to ensure you have everything up to standard when you put on a new employee. 3. Are our employees involved in the business? Do they feel like they have a say in the work they do?
Take care with your communication with your employees. Schedule staff meetings, at least monthly, to bring them up to date with developments. Consider doing a staff survey to find out (anonymously) what your employees really think. 4. Do we offer opportunities for learning and development?
As the workforce is becoming more highly trained, employees also have higher expectations of their workplaces in terms of learning and development. What you do (or don't) offer employees in this area is now a well-established deal maker (or deal breaker) when hiring and retaining the best talent, especially during a recession 5. Is there a possibility of career development in our organisation? Do I have a clear succession plan for key people, including myself?Again, communication is the key. Find out what your employees expect and if you are unable to provide it, be prepared for them to move on.
6. Are our performance management processes fair and consistent? Does each employee have key performance indicators that are linked to our strategic plan?
By setting SMART goals (Specific, Measurable, Achievable, Realistic and Time-framed) with your team, you will be building a business that can meet its strategic objectives.
7. Is the remuneration and reward structure transparent and fair?
Are bonuses and incentives based on key performance indicators that can be objectively measured? If you aren't measuring performance, how will you know what to reward?
 If these questions raised even more questions for you, we can help. Just call us - 1300 785 150 - to find out how.
And see our special, below. | |
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 We look forward to keeping touch with you through this newsletter this year.
Please let us know if anything in this issues has raised questions for you. Of course, we're always pleased to have your comments and feedback!
I will be on holidays from tomorrow, 14 January, returning to the office on 22 January 2009. I look forward to talking to you on my return.
Warm regards
Susan Rochester |
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 Save 25%
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Book your free HR Health Check before the end of January and receive a discount on any Balance at Work services purchased as a result! |
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Offer Expires: 31 January 2009 | |
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