Changes from 1 July 2021 will impact how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account.
In general, your superannuation is either in an accumulation account (when you are building your super), a retirement account (when you meet preservation age and certain conditions of release and can withdraw your super), or in between when you are transitioning to retirement (when you reach perseveration age, are working reduced hours and take some of your superannuation as a pension).
The amount of money you can transfer from your accumulation account into your tax-free retirement account is limited by a transfer balance cap (TBC). From 1 July 2021, the current $1.6m general TBC will be indexed to $1.7m and once indexed, no single cap will apply to all individuals (each person will have an individual TBC between $1.6m and $1.7m).
Indexation will also change other superannuation caps and limits including:
- Non-concessional contributions (contributions from after tax income)
- Concessional contributions (contributions from before tax income such as super guarantee, salary sacrificed super amounts, or contributions you make and claim a tax deduction for etc.)
- Co-contributions (personal contributions made by low and middle income earners matched by the Government up to $500), and
- Contributions you make on behalf of your spouse that are eligible for a tax-offset.
How will the transfer balance cap impact me?
You are accumulating super
If you are building your superannuation (accumulation phase), indexation of the TBC is a good thing because from 1 July 2021 you will be able to access more of your superannuation tax-free. If you start taking your superannuation after 1 July 2021, your transfer balance cap will be $1.7m.
You have started taking your super
If you started taking your superannuation before 1 July 2021 and have already had a credit added to your transfer balance account, then your TBC will be between $1.6m and $1.7m depending on the balance of your transfer balance account between 1 July 2017 and 30 June 2021. If your account reached $1.6m or more at any point during this time, your TBC after
1 July 2017 will remain at $1.6m. If the highest credit ever in your account was between $1 and $1.6m, then your TBC will be proportionally indexed based on the highest ever credit balance your transfer balance account reached.
Should you have questions or concerns please speak to us as we can assist
Super Retail Group – owner of the Supercheap Auto, Rebel, BCF and Macpac brands – handed back $1.7 million in JobKeeper payments in January after releasing a trading update showing sales growth of 23% to December 2020. Toyota announced that it will return $18 million in JobKeeper payments after a record fourth quarter. And, Domino’s Pizza has also handed back $792,000 of JobKeeper payments.
Toyota, Super Retail Group, and Domino’s were not obliged to hand back JobKeeper. Under the rules at the time, the companies qualified to access the payment. However, Toyota CEO Matthew Callachor said, “Like most businesses, Toyota faced an extremely uncertain future when the COVID-19 health crisis developed into an economic crisis …We claimed JobKeeper payments to help support the job security of almost 1,400 Toyota employees around Australia ….In the end, we were very fortunate to weather the storm better than most, so our management and board decided that returning JobKeeper payments was the right thing to do as a responsible corporate citizen.”
Domino’s Group CEO and Managing Director, Don Meij said, “We appreciate the availability and support of JobKeeper during a period of significant uncertainty. That period has passed, the assistance package has served its purpose, and we return it to Australian taxpayers with our thanks.”
Companies that received JobKeeper and subsequently paid dividends to shareholders and executive bonuses have come under particular scrutiny, not just by the regulators but by public opinion.
The first phase of JobKeeper did not require business to prove that they had actually suffered a downturn in revenue, just have evidence turnover was likely to drop in a particular month or quarter. For many businesses, early trends indicated that the pandemic would have a devastating impact on revenue. Many also took action and prevented the trend entrenching by actioning plans to protect their workforce and revenue. The fact that business improved, does not impact on initial JobKeeper eligibility. In the first phase of JobKeeper, employers were not obliged to stop JobKeeper payments if trends improved.
Speaking at the Senate Select Committee on COVID-19, ATO Deputy Commissioner Jeremey Hirschhorn stated that the ATO rejected some $180 million in JobKeeper claims pre-issuance. Approximately, $340 million in overpayments have been identified. Of these, $50 million were honest mistakes and will not be clawed back where the payment had been passed on to the employee.
Where the ATO determines that JobKeeper overpayments need to be repaid, they will contact you and let you know the amount and how the repayment should be made. Administrative penalties generally will not apply unless there is evidence of a deliberate attempt to manipulate the circumstances to gain the payment.
Taxpayers can object to the ATO’s JobKeeper overpayment assessment. If you are contacted by the ATO, please contact us immediately for assistance and we will work with the ATO on your behalf.
Lock the dates in your calendar.
When: 19 – 21 July, 2021
Where: Hilton, Surfers Paradise
The camp is truly a great way to lock yourself away for a few days and seriously think and work on your business with like-minded business people.
The other benefit is you will have heaps of fun, network with like-minded and forward thinking people, get a 100% tax deduction and there is also an 100% money back guarantee – “if you do not get at least one idea that pays for the course investment 10 times over we will refund your money”.
Some of the things we will work on over the 3 days:
- Working through the importance of the right culture in any business
- Working on and not in the business and effective leadership
- Undertaking a strategic planning (strengths, weaknesses, opportunities and threats) exercise for each business that is at the event
- Looking at financial management in the business
- Focusing on what customer service really is
- What an elevator pitch is and why have one in your business
- Looking at examples of successful businesses and what they do
- Focusing on the traits that all successful businesses have from generation to generation
- The importance of having a customer focused business
- Complete a ‘19 point check list’ that gives every individual a chance to tackle things that are easy and can make a massive difference to your business
- Focus on the ‘little things’ that make a profound effect
- Look at moments of truth within each business and ensure you understand the importance of these events
- Work through our proprietary software ‘GBC Business Analysis Software’ to highlight the impact to your business of what the changes will do. This is a truly powerful tool and ties everything together well. This will highlight what impact focusing on some key drivers will have
- Discovering the importance of having a management control plan in your business to track progress
- Looking at the areas that affects the value of your business and working on improving those areas
- Discovering the importance of a succession plan even if you are not looking at selling the business. Just working through this process will dramatically increase the value of your business
- And much more.
For those of you that are already registered that is awesome and for the rest of you do not miss out on this massive opportunity to come along. Now is the time to get organised so that you can attend in July and spend quality time working ON your business.
To find out more- www.globalbusinesscamps.com.au
Detailed agenda/outline of the 3 days and speaker bio’s – https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:44359aee-86fe-41d9-9eba-81b897b101c0#pageNum=1
To register either call us on 08 8212 8585, e-mail us on jtsoulos@indigofinancial.com.au or go to the GBC website and register at https://www.globalbusinesscamps.com.au/registration/#.
Don’t forget our clients and friends receive very special pricing so please use the code – SMITHINKMEM.
Why you cannot afford to miss the business camp:
- 88% of business failure is due to things we can control.
- Over 50% of Small to Medium Enterprises (SME’s) have no strategic business plan and 50% will change generation in the next decade.
- It costs 6 times more to get a new customer to deal with you than what it takes to get an existing customer to buy more from you.
- A 15% increase in customer loyalty can increase profitability by up to 80%.
- 80% – 90% of the success of any business ad, letter or communication comes from the heading.
- A fully systemised business is worth up to more than 86.7% more than an unsystemised business.
- The cost of employee turnover is up to 150% of their remuneration package.
- The business landscape has dramatically changed, business people risk falling behind their competitors
- We have all of the answers and strategies to keep you at the forefront and have you and your business thrive
It is truly an event not to be missed by anyone in business no matter how many times you have attended before.
Please feel free to pass IF News to anyone you feel may get value from. Also, if you know of anyone that we can help please do not hesitate to refer us to them. We know that “birds of a feather flock together” and we want more clients and friends just like you to work with us.
Thank you for being clients and friends of ours. We truly value the relationship we have and we will do all we can to assist you to reach your dreams and goals.
Cheers for now from the Indigo Financial Team.
Fringe benefits tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19 lockdowns have added another layer of complexity as many work patterns and behaviours changed.
A fringe benefit is a ‘payment’ to an employee or an associate (an associate is someone related to you such as a spouse, child or even a friend), but in a different form to salary or wages. A benefit might be as simple as hosting a work Christmas party, providing car parking, using a work vehicle, or providing the goods or services of the business at a reduced rate to what the public pay.
If your business is not already registered for FBT, it’s important to understand if fringe benefits have been provided. Generally, the ATO will look closely at unregistered employers and where there are mismatches in data.
With the FBT year ending on 31 March, we look at the key issues and the Australian Taxation Office’s (ATO) hotspots.
What is exempt from FBT?
Certain benefits are excluded from the FBT rules if they are provided primarily for use in the employee’s employment. These include:
- Portable electronic devices (e.g., laptop, ipad, printers, GPS, etc.,). Larger businesses are limited to the purchase or reimbursement of one portable electronic device for each employee per FBT year;
- A handbag, briefcase or satchel to carry items you are required to use and carry for work, such as laptops, tablets, work papers or diaries. Be warned that if you are using these bags for a mix of personal and work use, then the use needs to be apportioned and will not be fully exempt from FBT. The ATO is not going to pay for your Gucci bag even if you do throw your ipad into it on occasion.
- Tools of trade.
Also, if the item or service provided to the employee is less than $300 and is a one-off, it’s generally classed as a minor benefit and exempt from fringe benefits tax.
COVID-19 & FBT
The ATO has changed how it will approach FBT compliance this year because of the impact of COVID-19 on work patterns and conditions.
Emergency assistance such as flights and accommodation – emergency assistance to provide immediate relief to employees because the employee is at risk of being adversely affected by COVID-19 will generally not be subject to FBT. This might include:
- Expenses incurred relocating an employee, including paying for flights home to Australia.
- Expenses incurred for food and temporary accommodation if an employee cannot travel due to restrictions (domestic, interstate or intrastate).
- Benefits provided that allow an employee to self-isolate or quarantine.
- Transporting or paying for an employee’s transport expenses including car hire and transport to temporary accommodation.
For fly-in fly-out workers, this includes temporary accommodation and meals where they were unable to return home because of border or travel restrictions.
Health care – Providing flu vaccinations to employees is generally exempt from FBT because it is work-related preventative health care. However, health care treatment is only exempt from FBT if it is provided to your employees at your workplace or adjacent to your worksite. The cost of ongoing medical costs are generally not exempt.
Company cars – a company car garaged at an employee’s home will generally attract FBT. However, this FBT year, many company carparks and places of business were closed. As a result, the ATO has stated that for employers using the operating cost method, if the “car has not been driven at all during the period it has been garaged at home, or has only been driven briefly for the purpose of maintaining the car, we will accept that you don’t hold the car for the purpose of providing fringe benefits to your employee.” But, you will need to maintain odometer readings that show the car has not been used. If the car was used, fringe benefits generally applies. However, if the car was used for business purposes then this use reduces the taxable value. If the car was only used for business, the taxable value may be reduced to zero.
Logbooks – COVID-19 is likely to have impacted on driving patterns and the ATO have made some concessions where the 12 week log book period was interrupted.If you are already using the logbook method and have an existing logbook in place, you can still rely on this logbook. However, you must keep odometer records for the year to show how much the car has been driven during the year including during any lockdown period. If this is the first year you have used a logbook, you still need to keep an accurate 12 week logbook. However, if COVID-19 impacted driving patterns during that 12 weeks, then the ATO will allow you to adjust the use indicated in the logbook to account for the change in driving patterns.
Not-for-profit salary packaging – Not-for-profit employers often provide salary-packaged meal entertainment to employees to take advantage of the exempt or rebatable cap. For the FBT year ending 31 March 2021, the ATO has stated that they will not look into these arrangements where meals are provided by a supplier that was authorised as a meal entertainment provider as at 1 March 2020.
Cancellation fees – non-refundable costs for cancelled events are exempt from FBT unless the employee paid for the event themselves and was reimbursed by you. That is, if the employer paid for the event then the cancellation fee is the employer’s obligation as no benefit was provided. If the employee paid for the event, the cancellation fee is the employee’s obligation that has been reimbursed. It really depends on who the arrangement was between.
ATO ‘red flags’
One of the easiest ways for the ATO to pick up on problem areas is where there are mismatches in the information provided to the ATO. Common problem areas include:
Entertainment deductions with no corresponding fringe benefit – A simple way for the ATO to pick up on a problem is when an employer claims a deduction for expensive entertainment expenses – meals out, tickets to cricket matches, etc., – but there is not a corresponding recognition of the fringe benefit. Entertainment expenses are generally not deductible and no GST credits can be claimed unless the expenses are subject to FBT.
If your business uses the ‘actual’ method for FBT purposes and the value of the benefits provided is less than $300 then there might not be any FBT implications. This is because benefits provided to a client are not subject to FBT and minor benefits provided to employees (i.e., value of less than $300) on an infrequent and irregular basis are generally exempt from FBT. However, no deductions should be claimed for the entertainment and no GST credits would normally be available either.
If the business uses the 50/50 method, then 50% of the meal entertainment expenses would be subject to FBT (the minor benefits exemption would not apply). As a result, 50% of the expenses would be deductible and the company would be able to claim 50% of the GST credits.
Employee contributions reduce fringe benefits tax but not recognised in income tax return – Where employee contributions reduce the amount of fringe benefits tax payable (for example where an employee makes a contribution relating to a car fringe benefit), a corresponding amount needs to be recognised in the income tax return of the employer.
Hi everyone, and welcome to the January 2021 edition of IF News. Happy New Year and here’s to a great 2021 for all of us.
From all of us at Indigo Financial we hope you enjoy this edition. Once again, it is packed with relevant information for anyone in business.
1. Increasing Business Performance
What you can do to improve business performance:
- Increase the number of enquiries.
- Increase the number of conversions from enquiries to sales.
- Increase the average value of sales.
- Increase the number of times people buy from your business.
- Increase the gross profit %.
Lets take a look at an example to see the real power of something like this.
For example (hypothetical business):
Currently After Changes
(1) Annual enquiries 11,000 12,000
(2) Conversion to Customers 12.7% 15%
(3) Number of Customers (1 x 2 = 3) 1,397 1,800
(4) Frequency of business by customer (times) 2.3 2.6
(5) Sales (No. of Transactions, 3 x 4 = 5) 3,213 4,680
(6) Average price (Price Increase of 6%) $310 $328.60
(7) Sales in Dollars (5 x 6 = 7) $996,030 $1,537,848
(8) Gross Profit % 39% 41%
(9) Gross profit in Dollars (7 x 8 = 9) $388,452 $630,517
Gross profit Improvement therefore is:
The key question is how do you go from the ‘currently’ position to the ‘after changes’ position or how can you increase your business performance?
There are a number of ways to do this and we can help you with them. You can work with us regularly so we can together improve certain things in your business through a concentrated effective “non price differentiation” strategy. Also, add to that our very leveraged 3 day intensive Global Business Camp event. The next event will be held at the magnificent Hilton, Surfers Paradise Hotel in July 2021, where over 3 days we will spend time as a group focusing on the key areas that can dramatically improve your business.
Some of the areas that could need review and then a deeper focus on include:
- Quality of product or service
- Having guarantees and the appropriate promotion of your guarantees
- Pre sale service
- After sale follow up
- Staff knowledge
- Communication program with staff and customers
- Website
- Negotiation with suppliers and improved buying strategies
- Instigating a marketing system and pricing strategy to get the best out of every lead generated by your business
- Implementation of a “business building matrix” so as to improve your businesses sales
- Instigating effective strategies to create “pricing/product differentiation” within your business including
- There are many more areas
2. Everyone has 1,440 minutes a Day
Time is one of those things which cannot be expanded, however it can be better managed. Every one of us has 24 hours or 1,440 minutes per day. Some business people are better managers of their time than others. Business people need to allocate the number of hours per day that they are prepared to spend at work and then prioritise how they are going to spend that time.
Managers need to consider a lot of things when allocating time covering:
- Technical issues:
- Sales
- Client/Customer work
- Management issues:
- Planning
- Controlling operations
- Administration
- Team leadership
- Developing new products & services
- Training & development
- Conferences
How do you better manage your time? Here are some suggestions:
- Establish daily and weekly priority goals/”to do” lists. Mark off the task when it’s completed and periodically prepare a log sheet of the amount of time you spent on various tasks.
- Control the telephone. Do not allow the telephone to control you. Perhaps you could have messages taken during the day and then have very specific time allocations to return telephone calls (e.g. one in the morning, the other in the afternoon). Have a “quiet period” each day so you can use the “quality time” to plan your daily activities and business strategies.
- Consider and analysis those persons or tasks that cause you to waste time. Can you change your management style to overcome these time wasters (e.g. it might be better if you visited others in their offices or business premises rather than meeting in your office?) The visitor can close the meeting and basically leave.
- All meetings should have an agenda and should start and finish on time. At meetings, ensure that minutes are taken and distributed and follow these up at the next meeting. If this type of activity continues at all meetings it will speed up the process.
- Delegate. Is there anything currently on your desk or work area that could be delegated to someone else in the organisation?
Management of time is essential if you wish to be successful in business. Effective management involves planning, delegation and eliminating bad time wasting practices. Remember; everyone is allocated the same amount of time each day. How you effectively spend it will have a significant impact on how you perform as a business person.
3. Global Business Camp 19 – 21 July, 2021 Hilton, Surfers Paradise
Now, some really great news.
GBC is back and we hope you are as excited as we are. We have had a lot of enquiries asking when the camp will be held. So lock the dates in your calendar.
When: 19 – 21 July, 2021
Where: Hilton, Surfers Paradise
The camp is truly a great way to lock yourself away for a few days and seriously think and work on your business with like-minded business people.
Some of the things we will work on over the 3 days:
- Working through the importance of the right culture in any business
- Working on and not in the business and effective leadership
- Undertaking a strategic planning (strengths, weaknesses, opportunities and threats) exercise for each business that is at the event
- Looking at financial management in the business
- Focusing on what customer service really is
- What an elevator pitch is and why have one in your business
- Looking at examples of successful businesses and what they do – including visiting Tom O’Toole’s Beechworth Bakery, Stew Leonard’s Supermarket in the USA and Paddi Lund’s Dentist business in Queensland just to name a few
- Focusing on the traits that all successful businesses have from generation to generation
- The importance of having a customer focused business
- Complete a ‘19 point check list’ that gives every individual a chance to tackle things that are easy and can make a massive difference to your business
- Focus on the ‘little things’ that make a profound effect
- Look at moments of truth within each business and ensure you understand the importance of these events
- Work through our proprietary software ‘GBC Business Analysis Software’ to highlight the impact to your business of what the changes will do. This is a truly powerful tool and ties everything together well. This will highlight what impact focusing on some key drivers will have
- Discovering the importance of having a management control plan in your business to track progress
- Looking at the areas that affects the value of your business and working on improving those areas
- Discovering the importance of a succession plan even if you are not looking at selling the business. Just working through this process will dramatically increase the value of your business
- And much more.
For those of you that are already registered that is awesome and for the rest of you do not miss out on this massive opportunity to come along. Now is the time to get organised so that you can attend in July and spend quality time working ON your business.
To find out more- www.globalbusinesscamps.com.au
Detailed agenda/outline of the 3 days and speaker bio’s – https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:44359aee-86fe-41d9-9eba-81b897b101c0#pageNum=1
To register – https://www.globalbusinesscamps.com.au/registration/#
It is truly an event not to be missed by anyone in business no matter how many times you have attended before.
Look out for more details coming out soon.
Please feel free to pass IF News to anyone you feel may get value from. Also, if you know of anyone that we can help please do not hesitate to refer us to them. We know that “birds of a feather flock together” and we want more clients and friends just like you to work with us.
Thank you for being clients and friends of ours. We truly value the relationship we have and we will do all we can to assist you to reach your dreams and goals.
Cheers for now from the Indigo Financial Team.
I Can’t Get Good Staff!
Every day clients tell us the difficulties they face in finding good staff. This has been intensified from early this year due to the COVID-19 lockdowns and JobKeeper subsidy.
So what can we recommend to the business owners and team leaders that have this problem?
Before we start here is a story from our Lead Coach – Alan Short:
In early March 2020 while on a water skiing trip with my friends, we began discussing this “COVID-19 thing” and if we needed to do anything about it. By the end of the weekend and many discussions later I had decided that in my Fire Protection businesses we needed to do something, and quickly.
When I sat down with my team and told them what I thought would happen, to my surprise after the meeting most of the staff approached me individually … and not to complain! They were prepared to do whatever it took to get us through this crisis. Some offered to do overtime with no extra pay, others to reduce their work week (to take a pay cut), most simply said “tell me what you need and I’ll do whatever it takes…” When JobKeeper began and part time staff were paid more, they worked more, without me asking.
Contrast this with another business that we have been coaching, they told us that their staff have been refusing to come to work saying things like “I’m going to stay home on JobKeeper…”
Which business are you? Which business would you like to be?
What an interesting story, now lets see what we can do:
One of the key differences between the two businesses is the level of engagement of the staff with the business, Also, for larger businesses it is the engagement of the staff with the team that they are part of.
For most of us that own a business we have never really received any training in how to manage people. We simply learnt on the job or we have simply “picked it up as we went along”.
While this often works, have you ever noticed how:
- You can communicate easily with some staff and others not.
- Some staff feel like you appreciate them and others don’t – even though you treat them the same.
If you have ever tried to learn about leading a team to overcome these issues you often find the resources are theoretical and big picture. You are a person of action. None of the resources tell you what to do and when to do it. Does that sound familiar?
Our awesome teams at Global Business Camps and Global Business Coaching have developed a model of trainable skills to help you take your staff from a group of people to an engaged and highly productive team.
There are 5 stages in the model, they are:
- Responsibility – As the leader you are responsible for getting your team engaged. It starts with you, once you understand what you need to do you can then build a winning team. It doesn’t just happen.
- Communication – Many of us have heard the “Golden Rule” which is “treat others as you would like to be treated”, but consider that this could be very wrong! The “Platinum Rule” should be “to treat others as they would like to be treated”. It’s a subtle difference but a massively important one. People have different personalities and preferred ways of communication and there are tools you can use to understand people better and adjust your approach to “treat them as they would like to be treated”.
- Meeting Together – We are usually good at having staff/team meetings to talk about what needs to happen at work, but we need to go further than that. The fully engaged teams are connected together at a social level as well. For some people this happens naturally, but for most of us we need to be purposeful about making this happen.
- Identity – the best teams have an identity, think of the Navy Seals or the All Blacks Rugby Team. They have a clear identity that brings them together. You are part of these teams or you are not. You need to build an identity for your team that supports the purpose of your business.
- Continuous Improvement – Like learning to play football. The skills you learn when you start are not the same as a professional football player is learning. They are related but at a different level. For example, initially you start with just learning to kick the ball, but a professional is learning to kick the ball so that it curves through the air to hit a target. It is the same skill, kicking, but at much different levels.
Important event not to be missed:
On the 10th of November we will be holding a half day workshop where you will learn to apply this model with your team. We will be presenting ideas if you are new to leading a team or if you want to take leadership to the next level.
At the end of the workshop you will have an action plan to implement over the next 30, 60 or 90 days to help improve your team’s engagement and productivity.
The workshop will be on-line using Zoom. Many of us have sat through a boring “webinar” where someone speaks to you for hours – this is not like that. We will be working in small groups to apply the knowledge that is taught so that at the end you have a set of tactics to implement.
And if you require ongoing support with the implementation then we have VIP and Implementor packages that include one on one support. This can be specific to your business model.
Please remember, we are here to help!
To find out more or register for the event click here.
Until the 3rd November you can get 20% discount on any of the registration packages, saving you over $100. To get this 20% early bird discount use the coupon code “EARLY2020” on checkout.
If you want more information then please give Alan a call (his direct details are below), otherwise I’ll see you on the 10th November.
Cheers from all of the team at Indigo Financial.
JobKeeper 2.0 from September 2020
½ day event on the 10th of November – The 5 Dimensions of Building a Winning Team:
Our ½ day online event to keep you tracking and focused.
This event is FREE for anyone already registered for the 2020 (now 2021, 3 day business camp) and for everyone in our coaching programs. For everyone else it will be at a reduced rate of $99.
This workshop will be a Global Business Coaching event and the event will be run by our lead coach – Alan Short. The event will be on from 12.30 pm (AEDT).
Why you should join us on ‘The 5 Dimensions of Building a Winning Team’ session:
- Do you feel like your team are a crowd of individuals only interested in what’s in it for themselves?
- Do your team have fun and enjoy each other’s company but don’t have great productivity – it’s like a party not a workplace?
- Do you look at other teams that seem to be productive and having fun and wonder, why can’t I do that?
- According to Business Victoria the cost of staff turnover in a 20 person company at average salaries is $57,798 each year! If your team are paid above the average Australian Wage then this will be higher. If you are above the “average turnover rate” – and half of us are, then this cost is higher.
- If you could reduce your turnover rate below the national average then you can save a substantial amount of money every year – remember that this is a saving on your Gross Profit, not total revenue, at a 50% gross profit margin the cost of turnover could be costing you the equivalent of over $100,000 in sales! How much is staff turnover costing you? The most successful method for improving staff turnover rates is a having a fully engaged team. This half day workshop will walk you through tactics and strategies in The 5 Dimensions of Building Winning Teams.
At the end of the workshop you will:
- Understand why teams are important to your business.
- Understand the evolution of a team from a crowd of individuals, to a group, then a team and finally a highly productive synergetic team.
- Have tactics and strategies to build empathy and a communication rhythm with your team.
- Understand why meeting together is important and develop a meeting rhythm for your team.
- Understand and develop a strategy to build a unique identity for your team.
- Understand and develop strategies to maintain your winning team – it is not a once off action, it’s an ongoing process.
This workshop is for you if:
- You own a business and employ a team of staff and contractors.
- Are employed as a manager.
- Want to improve your skills in building team for future promotion.
And best of all, The 5 Dimensions of Building a Winning Team can be used by anyone, you don’t have to be experienced at building teams. Please tell as many friends, business associates and family about the business camp and try to get them there with you.
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