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Four New Year’s resolutions for Australian businesses

Supplier: Mitrefinch Australia By: Katrina Hall
11 January, 2016

The New Year is upon us. While many of us use the beginning of the year as an incentive to make personal resolutions like losing weight or saving for a dream purchase, here are a few business resolutions that Australian companies might do well to consider putting on their agenda for 2016.

1) Improve remote/ flexible working policies

Despite the many, documented benefits and the fact that almost a quarter of Australians want more flexible work, statistics show that 44 per cent of us still don’t avail flexible arrangements. Things look set to change, however, as experts are predicting that 2016 might just be the year of flexible working. Ready to make improving flexible working policies your business resolution? Australians are with you! Way back in 1991, just one in five workers were part-timers while today that figure has jumped to almost a third. For a manager resolving to improve the flexibility of their organisation, the benefits are many – both for the business (in terms of enhanced staff retention and productivity), and for the employees themselves (for example, a recent Citrix report found that Australian commuters could save more than $100mn a week in travel expenses, and more than 8 million hours a week in travel time).

2) Enhance cross-departmental communication

For larger corporations, jobs such as planning, scheduling, tracking, managing and paying workers are often split up among many different departments. Through no fault of their own, cross-departmental communication can suffer as important data insights are not communicated clearly. Employees may not even be aware of the problems and opportunities other departments are facing or deem them worthy of mention. Why not make it your resolution to knock down your company’s information silos through enhanced technology solutions this year?

3) Take charge of your business data

It is difficult to appreciate the importance of maintaining accurate financial records until you start a business of your own. However, neglecting to do so could land you in hot water and make things much more difficult later on down the line. Not only is it important for tax purposes, but it is also helps you to quickly spot any mistakes and anomalies should anything go wrong. Furthermore, taking charge of your business data will ensure that you are able to pay staff and clients on time. Make it your resolution to do away with outdated paper-based data collection methods, and work on achieving real-time insight into your important business metrics.

4) Create a winning workplace

Numerous studies show a winning workplace starts with happy employees. Did your business do all it could to create a winning workplace in 2015? Healthy, stress-free, bullying-free, well looked after employees tend to be more productive, and your staff retention rates are better too.