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Boosting employee relations

Posted on February 21, 2019 by admin

For a functioning company, employees have to be able to work together and communicate. Their relationships can be the difference between an ok team and a great one. People who enjoy their work are more productive and employee communications can be a contributing factor. Instigate:A good employer will help foster the working relationship of their team and ensure everything is running smoothly. By instigating co-operation between employees, you establish that a cohesive environment is not only encouraged but necessary for the functioning of the company. Involvement:Getting employees to work together on tasks can improve their working relationship as well as combine creativity and productivity to deliver a better product. Involving different team members in other tasks inspires collaboration and develops a relationship where they can rely on each other. Open conversation:A relationship can not grow without communication from both sides. As the employer, it is your responsibility to establish an environment where open communication is encouraged. If your employees can come and talk to you openly, then they should also feel like they can talk to each other as well. Celebrate:Where it be minor events like the completion of a task or major ones like birthdays, celebrating can help higher […]

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What advertising avenue is best for you?

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Without exposure, businesses would come and go very quickly. In this new digital age, there are even more options for how you want to advertise your business. There are a variety of resources, all priced differently so you can pay as much as you want or nothing at all. You will need to be aware of your target audience and what form of media would they consume the most. Traditional Media: Traditional media most commonly refers to print, radio or television advertising. Ads in magazines, newspapers, on the radio and the television, are how you would target an older audience. To optimise this advertising medium, have your ads displayed prominently or played at peak times. New Media: New media refers to the internet and the various avenues on which you can advertise. Like traditional media, you can by ad space to appear on Google or other pages. Again this is monetarily based. The audience on social media, in particular, is younger and many services, such as Facebook, Twitter and Instagram, offer free business models that highlight all your relevant information for public consumption. Local Advertising: On a smaller scale, physical advertising in your area can boost visibility. Flyers or business […]

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Understanding contracts

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Working in a business environment, you will inevitably come across contracts at some point. There are basic employee contracts you will encounter when hiring or starting a new job, but then there are more complicated contracts that require greater attention be paid. A contract is a legally binding agreement so they must be entered into carefully with a full understanding of the commitment. Kinds of contracts:Contracts can be written, verbal or both in some circumstances, with the more formal contracts being required in writing. Both kinds are legally binding if they contain the elements of a contract. Verbal contracts are hard to prove and rely on the trust of a person unlike written agreements with physical evidence. Elements of a contract:For a contract to legally binding it must contain; an offer an acceptance intention to create a legal relationship a consideration e.g. money Before you sign: Read everything, including the fine print, carefully Ensure negotiated terms and conditions are included Seek legal advice Take time to consider and understand the contract Don’t be pressured into signing Never leave blank spaces on a signed contract, cross them out if irrelevant Make sure that you and the other party can make changes […]

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Do you know where your super is?

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If you’re not close to retiring, you may not be thinking about your super or where it is. Even if you are a way off from retiring, you should be keeping track of where your super has gone. $17.5 billion of super was lost in 2017-18, $420 million down from the previous year. If you are not paying attention to your super contributions, accounts and insurances, you may have lost super. You may also have unintentionally lost track of super if you have ever changed your name, address, job or lived overseas. It is not uncommon for people to have multiple super accounts they have acquired over the years of working at different companies. Having multiple unused accounts can result in high fees that drain your untouched super or you could lose track of it completely. It is in your best interest to consolidate all super into one account that suits your retirement goals. When closing unused accounts, you should be mindful of any termination fees, insurance policies, investment options, and ongoing service fees. If you have lost track of your super it may be held by either your super fund as a lost account or as an ATO-held account. […]

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STP extension for small businesses

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The ATO has released a statement in relation to transitioning to Single Touch Payroll (STP) for small employers. Parliament has passed legislation to extend STP to include employers with fewer than 20 employees from 1 July 2019. STP is payday reporting by employers to the ATO as it happens. The initiative is designed to help keep up with advances in technology and firmly establish business reporting. As some small employers do not currently use commercial payroll software, the ATO is working with software providers to develop low and no-cost reporting solutions including simplifying payroll systems. It has been highlighted that to further assist in the transition, the ATO is offering: micro employers (1 to 4 employees) help to transition to STP and a number of alternative options. Small employers can start reporting any time from the 1 July start date to 30 September 2019. Deferrals will be granted to small employers who request additional time to start STP reporting. No penalties for mistakes, missed or late reports for the first year. Exemptions can be provided from STP reporting for employers experiencing hardship, or in areas with intermittent or no internet connection.

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Payday loan apps and websites; the pros and cons

Posted on February 14, 2019 by admin

Personal loans have become a fast-growing financing option for consumers, with payday apps and websites gaining popularity. For aid between paychecks, payday loans can be very helpful for the pay cycle lull. Taking out a loan is not something to enter into lightly though, there are many variables that should go into your decision-making process. Here are a few pros and cons you should consider before taking out a payday loan Pros:Payday loans are named as such because they are basically instant. Once applied, your loan is usually processed and paid out on the same day. This is very helpful if you are in need of money urgently between pay, like a fine or surprise bill for example. For this reason, the loan amounts can often be quite high. Like any other loan provider, the quicker you pay the amount back, the more likely you are to receive a higher loan the next time around. These services track your repayments and can increase funds based on your credit history. Application for payday loans is extremely easy as they are based online. The process is very quick and many payday loan services have app options so you can apply on the […]

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Social media issue vs crisis: know the difference

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With so much information on social media and everyone having access, some mistakes and road bumps are bound to come up. When presenting your business online, you need to be aware of issues that could arise and how to deal with these effectively. Put in place strategies to help combat conflicts but most importantly, know the differences and the need in which to respond to avoid panic and further mistakes. Potential issue:A potential issue can be the occasional negative comment or bad review on a page. When something small like this has come up, it can usually be solved by proactive measures from one team member, often a customer service representative or social media manager. Politely reply asking for the discussion to be moved to direct messages where you can gain more information about the situation privately. Issue:An issue is when there is a volume of negative comments that is gaining traction. When there is an influx of such comments more resources may be needed, such as more staff to aid it defusing the situation. In a situation like this, it is important to find the cause, whether it be a poor joke or post that didn’t hit the mark, […]

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“Building a Better Tax system” What does this mean for you?

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The Australian government has launched the Better Tax campaign in order to help inform the public of tax reforms coming into effect. Designed to “better Australia”, here is a look at what this plan means for you. Individual Tax: New low to middle-income tax offset: Offering immediate relief of up to $530 after an individual lodges their tax return for each income year from 2018-19 until 2021-22. Increase to income tax rate thresholds: Changing over the next seven years so less tax is paid by Australian taxpayers. The first change took effect on 1 July 2018 with future changes in 2022-23 and 2024-25. Reduction in the number of tax brackets: In order to simplify the system, in 2024-25 the tax system will move from five tax brackets to four. Business Tax: Tax cuts for incorporated small and medium businesses, with a turnover of less than $50 million per annum. These companies will move to a 25 per cent tax rate by 2021-22. The small business income tax offset; increasing the rate of the tax discount for unincorporated small businesses with a turnover below $5 million Increasing the instant asset write-off threshold from $20,000 to $25,000 and extending it until 30 […]

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Creating a positive business culture

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Business culture is a reflection of what your company stands for, it’s your voice. Employee relations are what establishes this voice and can always be improved. A work environment that everyone enjoys can help to improve performance and productivity. Here are some ways you can help better the culture of your business Vision:For a business culture to be established, as the employer you must first decide what that voice will be. Having a clear direction for your business practices is common but for community in the office, a vision for your business culture will help the process. It is your job to help guide your company toward your vision in every aspect of the business. Lead by example:Often business owners can be separated from the general culture of the workplace. It is important to show you adopt the values and productivity levels you are expecting of your employees. Integration on this level helps to establish what you expect out of the business and its everyday processes. Communication:One of the most obvious points is communication, it is essential in running a business. Good communication is not only needed for basic tasks and management but also key to creating your business culture. […]

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Superannuation tips for each stage of your working life

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A 2018 study revealed that almost 40% of Australians think they won’t have enough money to retire on – and that number is on the rise. Managing your superannuation fund can be confusing but it was found that 50% of us do not consult a financial planner. As we face different financial challenges at different points in our lives, how do you ensure you have enough to retire on? 20s to 30s:It is not uncommon for many people in their 20s and 30s to have multiple superannuation fund accounts accumulated through years of youth part-time work or otherwise. Now is the time to chase up on lost super. With one superannuation account, you not only can save on fees but it may also give you better investment returns. When combining and comparing your active accounts, be mindful of any termination fees, insurance policies, investment options, and ongoing service fees. 40s to 50s:You may find yourself earning more than you’ve ever earned before, but it is also a time where you may be juggling more living costs – from your mortgage to your growing family’s fees. Experts advise against decreasing your mortgage payments and encourage voluntary payments to your superannuation fund. […]

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