Business Portfolio

In: Business and Management

Submitted By AYegenian
Words 4387
Pages 18
Portfolio: Business and financial information

Article 1

20 May 2012

The name of the article is “Pressure on to secure staff”. It relates to Australia’s private owners struggling to retain and attract quality staff – but are also pulling back from strategies that would allow them to do so.

PwC’s winter 2012 Private Business Barometer finds employment is a major challenge for private firms. The report shows about 39 per cent of businesses intend to pay bonuses, down from 50 per cent in March 2011, while fewer businesses intend to offer working hours or competitive salaries (both down from 41 per cent to 24 per cent), working-from-home conditions (19 per cent to 13 per cent) and lifestyle-based leave (16 per cent to 6 per cent).

PwC partner Michael Browne says firms have cut bonuses and other recruitment strategies in response to more uncertain economic times.

By not adequately investing now businesses could face problems retaining staff in the future. This can affect their profitability, and also expectations, objectives and needs. “Businesses are looking to cut costs, so you have this trade-off with staffing strategies” Michael Browne says.

Businesses can improve their retention of valued staff by planning to:

* Ensure staff remain engaged in their roles * Promote a healthy work/life balance approach * Have regular career conversations with staff

These strategies would be relevant to the development of plans to provide information and achieve client goals.
If I provide an advice to a client about the information in this article I would consider number of legal and financial requirements that business owner must adhere to. Employer’s legal obligations relate to paying correct wages to staff, reimbursing them for work related expenses and not behaving in a way that could be damaging to their reputation or…...

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