We get it. This is the toughest time you've faced since you started your business, or since you became a leader in your organisation. It sure is for us.
Chances are that just like us, you're experiencing a significant financial impact as a result of COVID-19, which means you will have to make some really tough decisions. How you manage this situation right now will impact your business when things go back to normal (or the new normal). Here are some things that you should consider doing:
1. Talk to your team about what is happening in your business. We’re all concerned about the future – share where your business is right now and your future projections. Building a culture of trust and openness is so important and will strengthen your team, and help to keep productivity stable - or at least maintain focus as much as possible.
2. Actively involve all team members in looking for solutions. The best ideas often come from those working “on the front line”. Look for ways to adapt and change your business model and working arrangements, attract new customers, reduce costs and work smarter.
3. If you believe you may have to reduce staffing costs talk to your team about this and look for ways you can retain staff yet reduce expenses. As an example, during the GFC many businesses had staff volunteer to reduce hours just to retain their jobs.
4. If you do need to cut back your staffing costs, please ensure you speak to your trusted HR Advisor and/or Lawyer first to get the right advice on what you legally can and can’t do at this time.
5. We're here to help and we can even facilitate those really uncomfortable and heart-breaking conversations that are making your stomach churn and keeping you up at night. If you want to know more about how we can help get in touch.
6. Keep up to date with the recommendations and guidelines from FairWork HERE
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To assist you in a practical way, we have bundled the following documents into an employer response pack.
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