hiring

10 Tips on Onboarding Remote Employees

/in /by

Onboarding Remote Employees

We’re seeing more businesses engage REMOTE employees and subcontractors as they try to attract the best talent, regardless of location.

Remote employment presents challenges, including ONBOARDING, which means helping employees quickly become comfortable, engaged and productive.

Here are tips on making the onboarding process a success.

1. Plan for IT needs well in advance

Employees cannot work effectively without secure access to business applications and company-supplied hardware. In addition, to set up, help may be needed on home-networking issues and explaining security protocols. Make sure this doesn’t create delays.

2. Be clear on the job description and work rules

This sounds obvious but, unlike office employees, enforcing rules and policies is more difficult. Working hours, roles, reporting lines, timelines, meeting schedules and travel protocols are just a few things which can become confusing. Flexibility may be appropriate… but it’s still essential to have clear ground rules in place.

3. Take an interest in the remote workspace setup

Some Employees have been working from home for years and are effective in a home environment. Others are novices and need a lot of guidance. The employer should ensure they have the necessary facilities like a desk, chair, laptop, phone and specialised gear, (like a noise-canceling headset), dependable internet and, possibly, a separate phone line. Develop policies around providing these to remote employees OR offering a stipend.

4. Assign a buddy

The buddy or mentor system can create a sense of belonging. It also facilitates meaningful introductions to co-workers, supervisors and managers (more than giving a list or link to a company org. chart).

5. Be aware of local employment regulations

Remote employees may operate in jurisdictions which determine withholding tax based on gross earnings, filing status, number of exemptions and pay frequency. Be aware of these rules as well as any other employer obligations like covering employee expenses arising from the discharge of their duties.

6. Stage the onboarding process

Avoid information overload. Complete onboarding in short, easy-to-digest sessions so that other important tasks don’t get neglected. Allow the remote employees time for questions as they work through onboarding.

7. Provide early exposure to development opportunities

Employers should offer professional development options which are appealing to employees – including remote employees. Make these available early so remote employees think long term about their employment future.

8. Provide a remote employee handbook

It’s worth investing in a comprehensive but simple document which anticipates remote employees’ questions and concerns. This can be shared once the contract is signed and forms part of the agenda for early meetings with the remote employee. At the very least, Frequently Asked Questions will give the remote employee confidence while saving the time of managers who need to respond.

9. Encourage collaboration

Remote employees may not be comfortable reaching out through existing channels. A buddy can help with this as can periodic team-building activities. Leaders have an important role in making team members comfortable and this may involve meeting one to one to better understand the personalities involved.

10. Happy teams are successful teams!!

Setting clear goals, good project management, clarity on roles, decisive leadership and clear communication usually leads to success in business. Teams thrive in this environment and focus on the successes versus challenges. This is especially the case for remote workers who may miss out on office activities.

In summary, work doubly hard to lay a foundation for the success of your remote employees. This initial energy and investment will yield positive long-term results.  Prepare well, document your approach and be patient!

cybersecurity

ATO Make cyber security a priority for 2023

/in /by

It’s critical to safeguard your business and client information from cyber incidents.

Recent cyber attacks have shown how important it is to have robust cyber security practices in place to protect both your business and customer information.

Business owners hold the keys to their customers’ lives on their devices and are responsible for keeping that information safe from cybercriminals.

Application control

Put simply, application control involves you putting together a list of computer apps and/or downloadable programs that are ‘authorised’ as being legitimate and safe to use. You then add these authorised apps to your computer’s application control feature. These features act as your computer’s security guard, ensuring that you can only download and use the approved list of apps can be on your computer.

Doing this can minimise the risk of malicious code (also known as malware) being downloaded onto your systems, which can then disrupt, damage, or even gain unauthorised access to your computer systems.

It’s important that you regularly review the list of approved apps and remove any you no longer need. It’s also crucial that you test the application control to make sure it works. Simply try and download an app that isn’t on your authorised list and make sure your system blocks the download.

Source: ATO

payroll

Expanding Single Touch Payroll Phase 2

/in /by

Single Touch Payroll Phase 2

Streamlined reporting information about employees to government agencies.

What is Single Touch Payroll Phase 2?

In the 2019–20 Budget, the government announced that Single Touch Payroll (STP) would be expanded to include additional information.

The expansion of STP, also known as STP Phase 2, reduces the reporting burden for employers who need to report information about their employees to multiple government agencies. It helps Services Australia’s customers, who may be your employees, get the right payment at the right time.

Flexible approach to STP Phase 2

To support employers, the approach to STP Phase 2 is flexible, reasonable and pragmatic based on your business readiness and individual circumstances.

Digital service providers (DSPs) who need more time to make the changes and update their solutions to support STP 2 can apply for a deferral for their customers. If your DSP has a deferral, they will let you know.

If you can start reporting by your DSP’s deferral date, you don’t need to apply for more time.

Requesting more time to transition

If you need more time to transition to STP Phase 2 reporting, you can:

  • apply for more time past your DSP’s deferral date
  • have your registered agent apply for more time on your behalf.

For more information about applying for a delayed transition, see STP expansion (Phase 2) delayed transitions.

There won’t be penalties for genuine mistakes in your first year of STP Phase 2 reporting.

Benefits of STP Phase 2

Benefits for employers
  • STP Phase 2 information will be used to streamline employer interactions
  • Payroll information you report will also be shared in near real-time with Services Australia. They’ll use it to streamline requests
  • You may no longer need to provide separation certificates when your employees leave — the date and reason an employee leaves will be in your STP report
  • You can also voluntarily report child support deductions or garnishees (or both) through STP — this reduces the need to send separate remittance advices to the Child Support Registrar.
Benefits for employees

Some changes under Phase 2 help streamline interactions for employees, such as:

  • Making it easier for employees at tax time now with better visibility of the types of income received and where it should be pre-filled on their individual income tax return
  • Over time, the new information reported will allow the ATO to tell employees if they’ve provided you with incorrect information that may lead to them getting a tax bill
  • STP information will also be shared with Services Australia so they can streamline interactions with their customers.

What isn’t changing

While you’ll need to report additional information in your STP report, there are many things that will stay the same, such as:

  • the way you lodge
  • the due date
  • the types of payments that are needed
  • tax and super obligations
  • end-of-year finalisation requirements.

Most of the additional information you need to report should already be captured in your current payroll software.

Certified Xero Bookkeepers

Notch Above Bookkeeping are Certified Xero bookkeepers and feature agreed-price monthly fees so you know exactly where you stand. No hidden extras and no ticking clock. Browse our range of Xero bookkeeping services below and get in touch today to discuss the plan which best suits the needs of your business.

Related reading

STP Phase 2 reporting

energy efficieny

Energy Efficiency Grants for SMBs

/in /by

Energy Efficiency Grants for Small and Medium Sized Enterprises — Round 1

Funding to purchase energy-efficient equipment upgrades for small and medium businesses now available.

The Energy Efficiency Grants for Small and Medium-Sized Enterprises Round 1 will support businesses to upgrade or replace inefficient equipment to improve their energy efficiency. These upgrades will enable industries to reduce their energy use and manage energy cost volatility in the long term. This will contribute to Australia’s target of a 43% reduction on 2005 emission levels by 2030. 

Key points:

  • This grant opportunity is for small and medium-sized businesses with an employee headcount of 1 to 199 employees
  • The grant provides small and medium businesses up to $25,000 to replace or upgrade existing equipment to improve energy efficiency and reduce costs
  • Grant funding will be distributed between states and territories based on the distribution of small and medium-sized businesses nationally
  • Grants will be awarded to eligible applicants on a first-come, first-served basis until the funding is exhausted in each jurisdiction
  • Applications will be checked to ensure they meet the eligibility criteria in order of application receipt.

When the online form is available, you must submit your application through the online portal here. You’ll need to set up an account when you first log into the portal. The portal allows you to apply for and manage a grant or service in a secure online environment.

Grant objectives

  • improve energy efficiency practices and increase the uptake of energy-efficient technologies
  • assist small and medium businesses to manage their energy usage and costs
  • reduce greenhouse gas emissions.

The intended outcomes of the program are:

  • increased awareness of energy efficiency opportunities and help businesses to save energy
  • reduced power bills for small and medium businesses
  • emissions abatement to contribute to Australia reducing its emissions to 43% below 2005 levels by 2030.

Check if you can apply

You can apply if you meet the eligibility criteria. The eligibility criteria are a set of rules that describe who can be considered for this grant. You can apply if you:

  • are an eligible entity
  • have an eligible project
  • have eligible expenditure.

The rules are in the grant opportunity guidelines. If you enter a grant agreement under the Energy Efficiency Grants for Small and Medium Enterprises program you cannot receive other funding for the same activities from other Commonwealth, state or territory programs. Funding includes, but is not limited to, grants, rebates, contributions, certifications and certificates that have a value and any other form of financial assistance.

Check if you’re ready to apply for a grant

Finding a suitable grant opportunity is just the start of the process to get funding. The application process can take time and effort. Understanding the entire process will help you be grant ready and may improve your chances of getting funding.

Use this checklist to find out what it takes to apply for a grant.

Source: Australian Govt

Overview of Crisis Management for Business Leaders

/in /by

Crisis Management Overview

We know that business is unpredictable and factors beyond our control can leave a business in dire straits.

Even the largest, most well-funded and successful businesses can face crises… and most will rise to the occasion and emerge stronger.

Let’s look at what business owners can do to reduce risk and properly deal with a business crisis.

What is a business crisis?

A situation or disruption which leaves a business at severe risk in terms of reputation, commercial or financial strength—

Some common examples include serious disruptions to operations, social media attacks, product recalls, data leaks, labour issues, lawsuits, or allegations of wrongdoing against employees or owners.

How can business owners avoid a crisis situation?

They can’t completely avoid all potential crises because many factors are outside their control.

But they can prepare, at least for known risks. The fact is, however, that some of these risks are very remote and many business owners are unlikely to invest heavily to take precautions.

Token actions also don’t help. That means taking action for the sake of taking action… to feel like you’re in control.

In many cases, it’s better to invest in being ready to handle a crisis rather than trying to prevent them.

So how should business owners ‘handle a crisis’?

The response to a crisis should be thought of as a process. Each situation is different but a crisis response process will usually involve:

  • Getting together the facts (perhaps by interviewing people involved or listening to the news).
  • Communicating to stakeholders who ‘need to know’ these facts (perhaps the leaders of the business who need to take action).
  • Assessing the risk which may not be immediately apparent. In that case, consider a range from ‘worst case’ to ‘best case’ and how much damage will occur in each scenario.
  • Defining the risk. For example, is this reputational, financial, operational, or commercial risk?
  • Quantifying the risk. How much is at stake in each scenario?
  • Escalating appropriately. This means getting people involved who can make necessary decisions given the nature and quantum of risk. That could be a senior manager or the entire board of directors.

Very few crises require a business to deviate from a process like the one detailed above. An unprecedented natural disaster might be a situation requiring actions outside of existing processes. But that’s the exception.

What are some challenges with a crisis management process?

A significant challenge when responding to a crisis is people not wanting to disclose all of the facts, because they may be viewed as culpable. Ideally, the business culture should not punish people for bringing a problem to light or making a mistake — not immediately, and not the first time, anyway. A mistake can be seen as an opportunity to improve something in the business.

How can business owners build a culture to improve the response to a crisis?

Again, each business is different but consider:

  • Getting the team (or a small group) together to define the potential risks to your business. You will probably find people in different roles have different perspectives on this.
  • Build and document procedures to react to these crises. Use the above points as a guide and get buy-in from the team.
  • Empower people to act quickly when a crisis is in their area of responsibility.
  • Favour processes that protect the customer, because the risks are likely to be greater where customers are adversely affected.
  • Err on the side of overcommunication. More information is better.

Most crises will be averted…or at least dealt with. What happens when the crisis is over?

Post-crisis, get together to analyze the cause and strengthen processes to avoid recurrences. Encourage team members to spot systemic weaknesses and continuously improve processes so that emergencies become rare.

Remember that if you do the ‘small things’ well, you probably have good processes and discipline which will equip you to deal with bigger challenges. So build a culture of doing everything well, even the ‘small stuff’. And strive for continuous improvement.

How ready is your business to deal with a business crisis? It’s worth taking a few moments within your planning processes to consider this.

keyboard and coffee

Automating Your Business

/in /by

11 actionable areas to automation

We like to see highly efficient businesses… because that leads to more profit, a higher valuation, and happier stakeholders.

Automation is one way to increase efficiency.

The benefits of automation include:

  • Eliminating or reducing hours spent on repetitive tasks to improve productivity
  • Making processes cheaper, faster, and less error-prone
  • Improved reporting and data analysis, leading to better decision-making
  • Standardisation of processes, resulting in more consistent outcomes
  • A team focused on more productive activities (without the distraction of mundane work)

Automation is not a new idea but the opportunities to automate continue to grow all the time.

Let’s look at some business areas where automation has proved to be particularly impactful.

1. Marketing

Marketing Automation Software (MAS) can manage outbound marketing campaigns, measure lead generation, analyse customer behavior and simplify sales processes. A close ‘relative’ is Customer Relationship Management (CRM) Software that manages existing customer relationships to improve retention and generate additional sales.

2. Data Sharing

Businesses need to efficiently store and share files internally and externally. There are inexpensive ways to do this, for example, through Google Docs and DropBox. Automated File Transfer Protocol (FTP) and SSH File Transfer Protocol (SFTP) software solutions move files to servers which enables efficient, secure data sharing.

3. Business Reporting

All businesses generate data… but data is worthless unless converted into reports for analysis and review by managers. Automation tools make these reports available in real-time or as frequently as the business needs them. Some reports also forecast future performance to support decision-making.

4. Communication

Given the complex (internal and external) relationships in business, it is not surprising that communication is a hugely time-consuming activity. Automation helps in various ways, such as setting up alerts or reminders to take action effectively and on time.

5. Email Communication

Many employees rely on email as a primary communication tool but don’t necessarily use it efficiently. Automation tools can help organise stacks of daily emails, sending automated responses to some and directing everything else to specific folders for further attention. This leads to efficiency and more impactful communications.

6. Meetings

Many businesses use calendar tools to set up and organise meetings. Meeting automation platforms (MAPs) are used to support the meeting itself and improve communication before, during, and after the meeting.

7. Bookkeeping Tasks

Bookkeeping can involve many manual steps but automation of Accounts Payable saves time and money in the processing and payment of bills. The same can be said for invoicing, tracking accounts receivable and expense management.

8. Facilities Management

Automation enables consistent, centralised processes which provide a high level of service and maintain audit trails. This applies to any facilities challenge such as building security, repairs, energy management, vendor management, incident reporting, escalations, safety, etc.

9. ERP Integration

Larger businesses may use an ERP system IN ADDITION TO automation tools to get information from – or feed information into – the ERP. With all systems working from the same dataset, companies get a single, unified source of business data, which guides major business decisions.

10. Hiring

Hiring employees is a process from job posting to onboarding. Human Resource Management Systems save time in managing candidates, making offers, and developing employment agreements. A well-organised recruitment process also reflects well on your business, especially in a challenging hiring environment.

11. Employee Analytics

Managers need to track employee performance and behaviour, ideally through automated customised reports. Understanding this data helps improve employee productivity, satisfaction, and retention.

Investing in automation tools requires a commitment to change. Best to appoint a ‘Change Champion’ to drive the implementation (versus leaving it to a group who take this on ‘part time’).

And measure ROI over two years or more because it can take that long to see the fruits of an investment in automation.

advice

4 Priorities for Successful Businesses in 2023

/in /by

What’s your business strategy for next year?

Where will you focus and why?

We got together with a group of high-performing businesses to discuss their priorities, especially the ‘big picture’, strategic ideas.

Here’s the list we came up with. How does this compare with your focus areas in the coming 12 months?

Delegate!

Business owners tend to take on a huge volume of work themselves. It’s challenging to get it all done… and it wears them down.

Why don’t they delegate more? Some worry that work quality will suffer. Others say there is simply no one to delegate to. In both cases, they have failed to invest the time to build an organisation that can absorb more work. This is bad for the business because it cannot scale AND for the owner who continues to work excessively. It is also bad for employees, who don’t get the opportunity to step up.  Sure they may make errors… but we all started somewhere. And if they can’t successfully complete their work, you should find new people. Or perhaps outsource.

Focus on Value Creation

Business owners should aim to create a valuable business, and that means one NOT dependent on any one person (or a few people). A valuable business relies on good products, sound processes, a competent team, excellent technology and relevance in the market.

Very few business owners focus on value-creation and need to shift their mindset FROM “I work to supply widgets” TO “I am building a business that provides widgets”.

In the latter case, the objective is to set up other people, processes and technology to complete the work to the satisfaction of customers. With that in place, the owner can focus on other activities and the business is WAY more valuable.

Leverage Customer Relationships

For most businesses, there is huge unlocked potential inside the EXISTING Client base.

This should be a major driver of growth and the good news is that you don’t have to sell a lot more to every customer. A well-run Customer Classification exercise usually reveals a few customers who are in need of more services. Then you can get really precise about understanding those needs and offering them a relevant, profitable solution.

In many businesses, these opportunities go wasted as the owners get super busy with day-to-day work and become reactive versus proactive.

Digital Marketing

High-growth businesses increasingly understand how to present themselves in a digital world. This includes publishing content to stand out from the competition and ensuring they reach a clearly defined target customer. They measure success and constantly improve the approach to attract more quality leads.

Traditional marketing like networking in business groups and referral programs will continue to be valuable… but a digital strategy is increasingly important in high-growth organisations.

So there you have the key strategic objectives of some high-growth firms for the coming 12 months. Of course, there’s a ton of detail that supports these ideas and each business will have a slightly different set of priorities.

Need help increasing business efficiency or personal productivity? Contact Notch Above’s team of Xero Certified Bookkeepers on 1300 015 130 today.