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It’s no secret that the business landscape has changed dramatically since the outbreak of coronavirus. I’m sure, because of the devastating effect it’s had that it will continue to change in response to the economic climate for a long time. Companies all over the world are adapting their approaches and finding alternatives to shutting their doors to the public. This resilient response is what’s getting Australian business owners through these challenging times and keeping their dream investments afloat. Continue reading to find how the business landscape has altered and what you can do to combat it.
Economic Support Strategies
If you’re worried about how you’re going to keep up with salary payments, then you need to look into the jobkeeper scheme. 1 in 10 Australian companies have been forced to lower the shutter and close to the public due to COVID 19. Millions of employees across the country who have found themselves unemployed, practically overnight. If you’re lucky enough to be trading right now then you want to hang on to your valued workforce. Job keeper payments may be the answer. The Government is making fortnightly payments of $1500 to employers to use for wages so they don’t lose their most prized resource, their staff. You must be able to provide evidence, as an employer, that you’ve been financially impacted by the coronavirus to qualify for the support. Get researching today.
Reduced Hours
Being the person who makes all the decisions can be tough, you have to take responsibility for them before you even know if they’ll pay off or not, which can be daunting. This can also weigh heavily on your conscience, especially when it impacts an employee’s lives. No one wants to stand down staff due to this global pandemic and reducing existing staff’s hours may help you prevent this. For example, if you have 10 full-time staff members and you take 7 hours from each individual per week, you’re saving a monthly wage without having to sack anyone. Spreading the reduction will only have a small impact on your employees but you’ll need to make sure they can still manage their workload within the new timeframe. Another way to claw back some salary spend is to offer staff unpaid leave. Express to them that they can choose to take unpaid leave if they want. As long as you can cover their workloads and keep their clients happy, you should capitalize on this opportunity to save money.
Remote Working Policies
For the more antisocial people out there, social distancing is something you’ve been working towards for a while. It must be music to your ears to hear that employers must, now, adhere to these guidelines or face hefty fines. The best way to ensure that the risk of transmitting the virus is minimized is to create home working policies. Welcome to the world of working in your PJs, midday snacking and avoiding awkward small talk with Sandra who works on the front desk. For employers creating policies and guidelines for staff to follow when working from home is important so they know what is expected from the get-go. You should also consider how you will monitor productivity and output.
Summary
When it comes to the future of the business landscape, it’s impossible to make informed predictions. At present we have seen a shift towards remote working, a reduction in staff hours and a reliance on economic and financial support from the Government. By applying these logical approaches to your workplace you will be able to stay afloat and succeed in challenging times.
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This content is sponsored by Hubert Dwight.
Photo: Shutterstock