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COVID-19 Response

COVID-19 Response - Update

These are unprecedented times, but we're clear on what matters most. We're guided by our values every day. And nothing is more important to us than the health and safety of our employees, all of you, and the communities where we work and serve. In fact, nothing else comes close. 

As the situation with COVID-19 continues to evolve, we want to reassure you that the firm is fully resourced to support and service our clients. Right now, that means taking steps beyond what we're required to do. To support global efforts to slow the spread of COVID-19, we are implementing the below:

Risk Management

We have put in place a range of risk management initiatives based on the expert advice of the Federal and State governments to ensure we protect the health and safety of our employees, clients, suppliers and all of our stakeholders. These measures include:

  • ensuring our employees are adhering to our policies around travel restrictions, reporting requirements for COVID-19 and flu like symptoms, reducing their exposure to crowds both during and outside of work hours;
  • minimising the need for face to face meetings where possible. All meetings will be conducted via skype or telephone where possible, in extremely urgent cases, should the requirement be needed that a face to face meeting is to take place, we kindly ask that no handshaking or touching is to occur;
  • in the event of a meeting we will be ensuring our clients and business contacts do not attend our offices if they are experiencing flu-like symptoms, are suspected of having COVID-19, have had known contact with someone who is affected or likely to be affected by COVID-19, or have returned from overseas in the previous 14 days;
  • postponement of all internal and external seminars, workshops and events until further notice.

Whilst some of our employees may be working remotely, our people will continue to be available through the normal communication channels whenever you need them.

Business Continuity

For many of our business clients, you will undoubtedly be experiencing a variety of disruptions to your normal operations. Over the coming weeks we will be keeping you informed about some of the key issues you may encounter and how best to handle those situations.  This may take the form of questions about both Federal and State government stimulus packages; health, safety and leave entitlements for your employees; contractual disputes with customers and suppliers; supply chain issues; and, negotiating terms of agreements due to the unprecedented circumstances we find ourselves in. 


Our team is always available via phone and email to answer any of your questions and extend a (sanitized) helping hand, so please do not hesitate to contact us if you have any questions or concerns.

You can be assured that we will continue to monitor the situation on a daily basis and will keep you informed as the need arises.

You are the most loyal and dedicated customers and we may need your patience. In the meantime we thank you for your support and look forward to being in touch again soon.

 

If you are employed, your employer should be setting aside a percentage of your earnings and contributing them into your Superannuation account.


If you are earning less than $53,564 per year in the 2019-20 financial year and put in extra money into your super, you could be eligible for a government co-contribution of up to $500 paid into your super account as a reward.


You won't have to make your contribution all at once, and you won't have to fill in any forms to apply for this scheme. You'll just need to lodge your annual tax return as per usual for the financial year, and link your TFN to your super account - and the ATO will take care of the rest.


This fantastic scheme will allow eligible people to boost their retirement savings. As the Government policies are always evolving, best to get your hands onto the scheme so you don't miss your chance to receive this government co-contribution!


Eligibility Requirements

·         Earn less than $53,564 before tax in the 2019-20 financial year

·         Earn 10% or more of that income from employment or self-employment

·         Be a permanent resident of Australia for the full financial year

·         Have not exceeded the total superannuation balance of $1.6m or the non-concessional contributions cap

·         Lodge a tax return for the 2019-20 financial year

·         Be under the age of 71 years at the end of June 2020; and

·         Satisfy the work test if you are 65 years of age or more (which means you would Have worked a minimum of 40 hours within 30 consecutive days in the financial year you make the contribution)

·         Make an after-tax contribution to your super.

 

If you need any further advice or assistance regarding this scheme, get in touch with us and we will be able to provide more insight.


Just this morning, we have heard breaking news with PM Scott Morrison and the Treasurer Josh Frydenberg's public announcement of the Government Stimulus Package. On top of this, the Australian Grand Prix amongst other events have been cancelled. 

We've observed that this has impacted many individuals and businesses which in turn has resulted in an outroar of reactions. 

I personally understand the worries and fear, however, we'd like to assure you that it is business-as-usual in Australia.

The government are constantly providing updated information and guidance on how to manage the coronavirus. Please do not ignore health warnings and follow the provided NSW health guidelines here. I am sure that you have all received correspondence from schools, clubs etc on how they are responding to the Coronavirus outbreak by now and we strongly suggest you read everything and follow the given advice.

I believe that the matters of the world always return to balance. 

We understand that the situation may seem dire, especially when you can't escape from the constant "BREAKING NEWS" and "CORONAVIRUS UPDATE" headings - how could you not feel anxious?

Our suggested solution to this for individuals and business owners is to put up the "open" sign and continue business as usual. We are fortunate in Australia that we can continue to conduct business as well as go out, eat, and live our daily lives.

My clients, friends and family have sought my advice for their business and money worries, as well as the panic buying and stocking of living essentials, and I always say the same thing. In Australia, we are very fortunate to have undisrupted supply chains of essential goods and services.

If you do feel unwell and have to self isolate, you will still be able to get what you need for daily life. Please ensure that you have made a remote or working-from-home plan, If you have not already done so, I strongly advise doing it now. We can assist you to formulate a policy for your team and advice on technology options to enable this.

Recently, the Federal Government released a suite of stimulus measures aimed predominantly at small businesses. These measures include cash refunds of Pay-As-You-Go Withholdings made to employees. Generous investment incentives and cash handouts to certain households. I posted the government media release to my website here.

I fully sympathise with all those affected and will continue to offer my support for businesses as
I strongly believe we will find opportunities and strategies to come out of this situation positively.

The government stimulus package is designed to benefit small business and we are already actively advising people on the opportunities available to them. This needs to be bespoke for each business and its unique characteristics.

Although we await legislation to lock in the stimulus plan, our team are waiting by to advise and assist you in benefiting from the package as intended. 

Recovery from this "crisis" may be fast or slow, nobody knows. In the end we will acclimatise to the situation and the news cycle will eventually move on. 

In conclusion, I urge you to remain calm and carefully consider your risks. My opinion is that your action plan should be:

  • Look after your health and the health of your family and friends as a priority

  • Sit back and observe. Opportunities will present

  • Take advantage of Government incentives that apply to you

  • Make a work from home plan if you or your team need to self-isolate

  • Do not panic buy. Australian supply lines are strong 

And most importantly, if you need reassurance, advice or assistance tailored to your needs get in touch at any time. We are here to help, add value and reassure in these uncertain times.

Economic Stimulus Package

Media release
12 Mar 2020
Prime Minister, Treasurer

The Morrison Government has today announced a $17.6 billion economic plan to keep Australians in jobs, keep businesses in business and support households and the Australian economy as the world deals with the significant challenges posed by the spread of the coronavirus.

Our targeted stimulus package is focused on keeping Australians in jobs and helping small and medium sized businesses to stay in business. 

The package has four parts:

  • Supporting business investment
  • Providing cash flow assistance to help small and medium sized business to stay in business and keep their employees in jobs
  • Targeted support for the most severely affected sectors, regions and communities;
  • Household stimulus payments that will benefit the wider economy

The measures are all temporary, targeted and proportionate to the challenge we face.  Our actions will ensure we respond to the immediate challenges we face and help Australia bounce back stronger on the other side, without undermining the structural integrity of the Budget.

Prime Minister Scott Morrison said as part of the plan up to 6.5 million individuals and 3.5 million businesses would be directly supported by the package.

"Just as we have acted decisively to protect the health of the Australian people, based on the best evidence and medical advice, our support package responds to the economic challenges presented by this pandemic in a timely, proportionate and targeted way," the Prime Minister said.

"Our plan will back Australian households with a stimulus payment to boost growth, bolster domestic confidence and consumption, reduce cash flow pressures for businesses and support new investments to lift productivity.

"Australia is not immune to the global coronavirus challenge but we have already taken steps to prepare for this looming international economic crisis.

"We've balanced the budget and managed our economy so we can now use this to protect the health, wellbeing and livelihoods of Australians.

"Our targeted stimulus package will focus on keeping Australians in jobs and keeping businesses in business so we can bounce back strongly.

"The economy needs temporary help right now to bounce back better so the livelihoods of all Australians are protected."

Treasurer Josh Frydenberg said Australia is approaching the economic challenge from the Coronavirus from a position of strength with IMF and the OECD both forecasting Australia to grow faster than comparable countries including the UK, Canada, Japan, Germany and France.

"Our plan keeps businesses operating, supports jobs and provides a stimulus to households," the Treasurer said.

"The Government has worked hard over the last six and a half years to return the budget to balance so we have the flexibility to respond to the serious economic challenges posed by the Coronavirus."

"Given Australia's strong economic and fiscal position, the international credit rating agency Standard and Poor's indicated that temporary stimulus would be "unlikely to strain Australia's creditworthiness.

"In our response, we have been very careful not to repeat the mistakes of previous stimulus programs and not undermine the structural integrity of the budget.

"Today's announcement will provide the support businesses need to stay in business and keep Australians in a job.

"By acting decisively this package will put Australia in the strongest possible position to deal with the economic challenges we face and to make sure our economy bounces back even stronger."

Delivering support for business investment

  • $700 million to increase the instant asset write off threshold from $30,000 to $150,000 and expand access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020. For example, assets that may be able to be immediately written off are a concrete tank for a builder, a tractor for a farming business, and a truck for a delivery business.
  • $3.2 billion to back business investment by providing a time limited 15 month investment incentive (through to 30 June 2021) to support business investment and economic growth over the short term, by accelerating depreciation deductions. Businesses with a turnover of less than $500 million will be able to deduct an additional 50 per cent of the asset cost in the year of purchase.

These measures start today and will support over 3.5 million businesses (over 99 per cent of businesses) employing more than 9.7 million employees or 3 in every 4 workers. The measures are designed to support business sticking with investment they had planned, and encouraging them to bring investment forward to support economic growth over the short term.

Cash flow assistance for businesses

  • $6.7 billion to Boost Cash Flow for Employers by up to $25,000 with a minimum payment of $2,000 for eligible small and medium-sized businesses. The payment will provide cash flow support to businesses with a turnover of less than $50 million that employ staff, between 1 January 2020 and 30 June 2020. The payment will be tax free. This measure will benefit around 690,000 businesses employing around 7.8 million people. Businesses will receive payments of 50 per cent of their Business Activity Statements or Instalment Activity Statement from 28 April with refunds to then be paid within 14 days.
  • $1.3 billion to support small businesses to support the jobs of around 120,000 apprentices and trainees. Eligible employers can apply for a wage subsidy of 50 per cent of the apprentice's or trainee's wage for up to 9 months from 1 January 2020 to 30 September 2020. Where a small business is not able to retain an apprentice, the subsidy will be available to a new employer that employs that apprentice.

Stimulus payments to households to support growth

  • $4.8 billion to provide a one-off $750 stimulus payment to pensioners, social security, veteran and other income support recipients and eligible concession card holders. Around half of those that will benefit are pensioners. The payment will be tax free and will not count as income for Social Security, Farm Household Allowance and Veteran payments. There will be one payment per eligible recipient. If a person qualifies for the one off payment in multiple ways, they will only receive one payment.

Payments will be from 31 March 2020 on a progressive basis, with over 90 per cent of payments expected to be made by mid-April.

Assistance for severely-affected regions

  • $1 billion to support those sectors, regions and communities that have been disproportionately affected by the economic impacts of the Coronavirus, including those heavily reliant on industries such as tourism, agriculture and education. This will include the waiver of fees and charges for tourism businesses that operate in the Great Barrier Reef Marine Park and Commonwealth National Parks. It will also include additional assistance to help businesses identify alternative export markets or supply chains. Targeted measures will also be developed to further promote domestic tourism. Further plans and measures to support recovery will be designed and delivered in partnership with the affected industries and communities.

The Government is also offering administrative relief for certain tax obligations, including deferring tax payments up to four months. This is similar to relief provided following the bushfires for taxpayers affected by the coronavirus, on a case-by-case basis.  The ATO will set up a temporary shop front in Cairns within the next few weeks with dedicated staff specialising in assisting small business. In addition, the ATO will consider ways to enhance its presence in other significantly affected regions to make it easier for people to apply for relief, including considering further temporary shop fronts and face-to-face options.

The Government's economic support package is proportionate, timely and scalable to respond to the economic challenges presented by the spread of the coronavirus.

Through our response today and the actions we have taken to bring the Budget back to balance over the last six and a half years, Australians can be confident that our nation is one of the best prepared to respond to the economic impacts of the coronavirus.


When you own a small business, it's vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth, invoicing, and debt management. The consequences of not understanding money can be drastic-poor financial management is one of the main reasons businesses fail.

That's why you need to understand cash flow.


1. What is cash flow?

Before you can start to understand your cash flow, you need to know what cash flow is. Cash flow refers to the movement of money into and out of your business. It's essentially understanding how much money is coming into your business (your income, loans and transfers of personal money into the business) versus how much is leaving (your expenses, taxes, and loan payments).

2. How do I conduct a cash flow analysis?

Some accounting software programs allow you to conduct a cash flow analysis through the platform itself or possibly via an addon. Open the program and often a cash flow statement can be found under a "Reports" tab or something similar. So if you're already using accounting software, you can have a cash flow statement with minimal effort.

If you don't use accounting software, you'll have to conduct the analysis manually. Here is a very basic cash flow analysis (This can easily be done using a spreadsheet):

First enter the amount of cash your business actually had in the bank at the start of a financial period (say a month). Second, add up all the money that came into your business in the month. Include only money that actually came in, not money still owing from clients. Third, add this to the cash from the start of the month (in Step 1). Fourth, add up the cash that went out for the month, including rent, cost of goods, fixed costs and loan payments. Fifth, subtract the total in Step 4 from the total in Step 3. This gives you your cash at the end of the month, which is also your starting balance for the next month.

If the cash in your account is lower at the start of each month from the previous month, you have a cash flow problem that requires further analysis.

3. Why is cash flow important?

Not making enough money to cover debts is a major reason small businesses fail. Understanding your cash flow can help you take the steps you need to identify and address issues before they threaten your business.

A cash flow analysis can tell you if you're allowing clients too long to pay their invoices, making you financially vulnerable. You can then determine if you need to charge a deposit for your services or shorten the payment terms. It can also tell you if you're spending too much in areas that are not profitable for you. This can help you figure out where you need to cut back on spending-or charge your customers more.

Regular cash flow analysis can also show you what times of the year your business drops off - such as if you have a seasonal business. That can help you plan for those times to make sure you have enough money to cover a loss in revenue.

Final thoughts


Understanding your cash flow and making strategic decisions about your company's future is vital for business survival. Unfortunately, many small business owners make the mistake of not understanding or, even worse, ignoring the importance of cash flow and that often results in losing their business.

Get in touchNeed help managing your cashflow? We can help. Have a chat to us today.



 

 

 

Small business owners already have a difficult and time-consuming job running their business. If their business is open five days a week, they usually need the weekend to catch up on paperwork, pay bills and manage any tasks they didn't get to during the week.

For those with a seven-day-a-week business, there's even less time off. They often feel the need to be onsite any time the business is open, to deal with unanticipated issues, help the staff out, and ensure all tasks are completed.

Being onsite seven days a week isn't healthy or productive, however. It can cause burnout and result in errors being made. It affects the business owner's personal life and quality of life, not to mention their overall well-being.

Here are three tips for getting your life back when you operate a seven-day-a-week business.

1. Hire a trusted manager

The next best thing to having you onsite all the time is to have a manager with authority similar to yours who can be onsite when you aren't. Invest money in hiring a manager to deal with operations so you can take days off. Train that person to deal with any issues you anticipate and make sure they know and understand the business inside and out. Give them the authority to make decisions in your absence. It might take a little time to build up the trust with that manager, but when you have it, they will be invaluable to you.  

2. Delegate tasks you don't need to do

As a small business owner, you have regular duties that need to be done but could be better done by an expert. Doing them yourself takes up a ton of your time and forces you to be on the jobsite more. Look at your tasks and determine which ones are eating up your valuable time. Could you hire a bookkeeper? An accountant?

Virtual assistants can now be hired to deal with invoicing, collecting payments and making phone calls on your behalf. That frees you up to deal with other tasks at your jobsite, which means you may get your other duties done and find you have free time.

These outside service providers cost money, but they are worth the expense when you consider the time and energy you'll save by not taking on those tedious tasks. Especially when you factor in the extra personal time you'll have.

3. Start slowly

The worst thing you can do is wait until you feel you're about to have a nervous breakdown before you think about taking days off. That increases the chances that you'll need a day off at exactly the wrong time-during the busy season or when there's a work-related crisis emerging.

To get yourself comfortable with taking days off and get staff used to you being away, start slowly. Maybe take an afternoon off during the weekday that's typically the slowest. When you're comfortable with that, start taking a full day off here and there. After a while, you'll be fine taking two days off, even during busier periods. You may not always have a five-day-a-week job, but at least you'll be okay taking days off for yourself. 

Final thoughts

You need time away from your business to maintain your sanity and stop yourself from burning out. Having trusted staff and expert service providers in place will help you take a break from your worksite and get yourself some personal time.

Tips for switching off during the holidays

The holiday season is once again here, and with it comes time to relax, focus on family and friends and take stock in what is really important in life. Unless you're a small business owner. Every small business owner knows that being away from the office can be just as stressful as being in it.

Phone calls from employees dealing with a minor crisis will pull your focus from your family, or your Christmas dinner will be taken over by business talk. Like the merry bells of Christmas, your cell phone will constantly chime with the sounds of urgent text messages and emails that must be dealt with. Clients will need your attention.

It's easy to let business take over personal life, but as a small business owner it's vital that you get some time away from work.

Here are some tips for helping you switch off during the holidays.

Shut down entirely for the week

If your business can be shut down for a week, consider closing from Christmas to New Years. Your employees will love the time off and you won't be bothered with urgent texts about something that just went wrong at the office. This time is generally not as productive for workers anyhow, as they all want to get home, be with loved ones, and celebrate the season.

Just make sure you give your clients some notice that you're closing up. Good clients will respect your decision and even encourage it.

Have someone trained to deal with your absence

A big headache for small business owners is constant calls from employees who can't carry out basic tasks or make decisions. If you plan on taking time off but are leaving the business open, have someone senior available to answer questions or take over duties other employees can't.

Make sure employees are prepared for situations that could arise, but they can fix on their own. Can they use someone else's computer if theirs dies? If a client calls with a crisis, which staff members can deal with each situation?

Assign one or two people-not you-to be contact people in case staff needs assistance and give those two people strict instructions about when they can contact you. You don't need phone calls on your days off because someone doesn't know how to work the coffee machine.

Resist the urge to plan meetings during this time

When a client comes to you just before you take your days off and requests a meeting over the holidays, it can be difficult to resist that urge. That meeting, however, will take up time and space in your brain aside from the actual meeting time. You'll prepare for it, you'll think about it, you'll plan what to say. If the meeting doesn't go well, it will affect the rest of your days off.

Instead, push the meeting until after the holidays. Unless the situation is dire, an extra week won't hurt. Or ask another worker to attend the meeting for you.

Final thoughts 

If you're taking time over the holidays, really take time. Don't take time off but then spend that time constantly checking for work-related texts and emails or attending meetings. Put your cell phone away. Stop checking your email. Set an outgoing email that lets people know when you'll respond to their messages and change your voicemail to note your days off. That way you can rest, relax, and enjoy your break.

If you're a small business owner, you'll need this time to restore your energy for January. Now go hide your cell phone.

 

 

 

 

3 Must Have Apps for Tradies

When you run your own trade business, your life involves a lot of long days being on job sites while managing projects, staff and clients. There probably are not enough hours in the week for you to deal with all the issues that arise while keeping your customers happy, and taking time out of your schedule to manage your business is probably the last thing you want to do.

Thanks to a variety of online software companies, running your business is now a lot easier. You can efficiently manage your projects, employees, finances and records all through your computer or your tablet, freeing you up to focus on your clients.

Here are three online software companies you should consider adding to your technology toolbox.

Xero (xero.com)

Unless you're an accountant, anything to do with finances probably isn't on your list of fun activities. You don't want to spend your time writing up invoices and chasing down clients for payment, or tracking and reviewing your expenses. You want your energy to go to an exciting project or finding a solution to a client's problems.

Xero lets you do just that. It offers a user-friendly invoicing system that allows you to accept payments through the software. You can connect Xero to your bank account so transactions are imported to your Xero account daily, meaning you don't have to manually enter them. You can even manage your inventory and conduct bank reconciliation through the program.

All those stressful accounting tasks are taken care of, with minimal effort from you.

Receipt Bank (receipt-bank.com)

As Receipt Bank astutely notes, you didn't go into business to do paperwork. Receipt Bank makes it easier for you to keep track of your expenses, including storing receipts, classifying expenses, reviewing data, and sharing the information with your accountant. It connects with other accounting software, including Xero, so you don't have to manually share information between various programs.

Leave the paperwork to the experts and focus on the activities you love to do.

ServiceM8 (servicem8.com)

ServiceM8 makes project supervision more efficient and easier to control. You can track a project from the first time a client calls you for information to the moment their invoice is paid in full. The software allows you to manage your employees, provide quotes for potential clients and record notes and other project data.

You don't even have to be on the job site to see where your staff is or keep up with an ongoing project, you can simply check through the software. You can also schedule your appointments and receive reminders about upcoming meetings. ServiceM8 can even help you make dispatching decisions about your staff, figuring out who is closest to a jobsite or can reach a client quickly.

Final thoughts

For many business owners, the management is the least fun aspect of business. It drags you away from the work you love doing and drains your time and energy. Using technology to help you out in areas that you don't enjoy is a way to ensure those tasks are completed correctly.

Adding these technology tools to your toolbox makes running your business easier, more efficient and more enjoyable.

Get in touch with us to find out how we can help your trades business.

 

 

 

 

A word to the wise if you're shopping for a new home: the list price is only a baseline. You'll want to have a substantial buffer in your budget for a host of additional unseen fees.

This article will help you understand all the associated costs of buying a house so you're prepared.

Purchase Fees

Appraisal 

Before a lender will approve your mortgage you may be asked to undertake an independent assessment of the property's value. This helps your lender determine the mortgage amount, calculated as a percentage of the appraised market value. It also lowers the lender's risk of loss; an appraisal helps confirm that if you default on your payments, the loan could be repaid by selling the property.

Home Inspection

This additional expense is in your best interest. If major problems are uncovered, you can ask the seller to fix them as a condition of sale – or walk away if they refuse and the cost of repairs exceeds what you're willing to invest. Some home buyers choose to opt out of an inspection, but many lenders won't approve a mortgage unless one has been done.

Legal Fees

You'll need to retain the services of a property lawyer to protect your interests. A legal professional will complete title searches on your behalf, prepare the documents for property purchase as well as mortgage documents, manage the transfer of funds, and register your name on title when the sale is complete.

Insurances

Title Insurance

There's a growing demand from property investors, mortgage lenders, and auditors for additional protections that lower risk. Title insurance protects you from unforeseen issues that could lead to major trouble including:

·       Errors and defects (i.e. in existing surveys or the public registry)

·       Omissions

·       Restitution for unresolved issues with a previous owner

·       Undisclosed property heirs

Mortgage Insurance

Also known as a mortgage indemnity guarantee, this insurance protects the lender if you are unable to make your mortgage payments and/or if the lender has to repossess your home. Mortgage insurance is often a requirement for buyers applying for a high-ratio mortgage. 

Home Insurance

Also known as property, home owner's, or house insurance, home insurance protects you from damage or loss to the building as well as your home's contents. Proof of home insurance is often a condition for mortgage approval and, depending on your agreement, would protect you from loss due to earthquake, fire, flood, and theft.

Property Taxes

Property taxes cover infrastructure costs in your community (e.g. road construction and maintenance, traffic lights, sidewalks), recreation, public transportation, and the salaries of your local government employees including police, fire fighters, and city workers. Your portion is based on a property value assessment – so the higher the value of your home, the higher your taxes.

Utilities

As a home owner you'll need to pay for your electricity, water and gas usage (and possibly waste collection and recycling). Don't forget to include internet, phone, and TV hook up – as well as monthly service fees – in your monthly budget.  

Moving Day (and beyond)

In addition to hiring a rental truck or moving company, other potential costs could include:

  • New appliances

  • Renovations or repairs

  • Home furnishings

  • Strata fees (for condominium owners) and

  • Landscaping equipment

Final thoughts

If you're looking for a way to soften the financial blow of buying a home, talk to your lender.

You may be able to roll your mortgage insurance costs in with your mortgage payments – or qualify for a home equity line of credit to help cover your moving expenses and any required renovations. 

Three innovative tips for finding employees

We all know the usual process for finding new employees. Advertise a job. Read resumes. Conduct a telephone interview. Conduct a face-to-face interview. Choose someone. The steps to recruiting new talent have been the same for decades, leaving many people to think these are the only way to find new employees.

There are many top-notch employees that you might not be reaching if you don't change your strategy, however and these days there are many new and exciting ways to reach out to possible staff and attract qualified employees to your business. All you have to do is be willing to be creative in your thinking.


Get your current employees on it
Besides you, who knows better what you need in an employee than your current employees? Not only do they know what you need, they can vouch for the people they recommend. Using an employee referral program can save you the costs associated with advertising a position, undergoing extensive interviews, and then training and retraining employees who don't work out.

How does it work? Your employees recommend people for a job with your company and if their recommendation is successful they get a reward. This can be a cash bonus, a gift, additional days off work, or the opportunity to work from home for a few days.

Make sure the program's details are clear: does the referred employee just have to be hired for the benefit to kick in, or do they have to work at your company for a specific period? Does the gift get more extravagant if they recommend more successful recruits? 

Keep the rules simple and make sure all employees know about the program.

Turn to social media

Social media isn't just a great way to build your customer base, it's also a fantastic way to build interest in working for your company. Employees of all ages-but especially younger generations-use some form of social media to look for work. That could be LinkedIn, but it can also mean Facebook, Twitter, Instagram or a variety of other sites.

Even if someone who sees your post isn't interested, they may share it with their friends or followers, who will share it with theirs, vastly increasing your reach. Be sure you know who your target candidates are and what social media channels they use, and tailor your ads or posts to them.

If you have the time to have a long-view of recruiting, start building your company's employment brand online early, by releasing content that highlights your corporate culture. People may see those posts and come to you so you can build your talent pool. At the very least, you'll already be on their radar when it comes time to hire.

Reach out to past candidates
Just because someone wasn't the best candidate for a job in the past doesn't mean they aren't now. There could have been many factors that resulted in that person not being the best fit at that time. Perhaps they've taken courses or developed their experience since you interviewed them. 

When you interview people that you really like but they don't quite make the cut, keep their resume on file and consider reaching out to them when a position opens up. You never know when the time will be right for them.

Final thoughts
There are many things you can do that can be successful in finding the right employee for your business. As an added bonus, some of these strategies won't necessarily cost you a lot of time or money and may get you highly qualified and loyal employees.

Try some of them the next time you're hiring and see if that gets you the candidates you need.



Chartered Accountants Australia + New Zealand MYOB Intuit Quickbooks Xero