HUMAN RESOURCES & HIRING


Time to Plateau or Enter Advanced Growth


Promotional Feature Working alongside 450 clients in the past six years; you clearly see why certain businesses fl y when others fl ounder. Many owner managers believe they can do everything themselves rather than turning to an expert. This can be very costly in the long run. Too often SMEs hire people they trust – family


or friends – regardless of their suitability. We need the right people around the table and they need to be engaged. Engaged staff increase profi tability. Conversely,


an SME with 100 staff and average levels of UK employee engagement will drain around £690k off of their bottom line each year through disengagement. This means when you leave the room so does the eff ort of some of the team. Facebook and online shopping is where you can probably fi nd them if you look.


Why don’t you see this cost? Some of it’s direct cost,


so around two and a half days more sickness is taken on average over engaged staff . The real worrying fact is that disengaged staff also


create up to 100 more errors a year – so that’s maybe why you lost that last customer. This essentially means that the disengaged employee is unproductive a third of the time. So with an average UK engagement level of 36% - you have too many staff doing too little work. Disengagement is easy to address, however. Find


out the issues, address them and communicate back to employees – or even better get them involved in the fi xes. Be prepared as you open this ‘can of worms’ to reap


the rewards. You may get some feedback you don’t like. But like most cans of worms if you don’t address it – it becomes toxic in the longer term and you’ll never achieve the growth you planned for. Hunter Adams


believe the key


fundamentals for business growth that need to be in place are:


• The right organisational model – without this, work won’t fl ow through the company properly and daily fi refi ghting will gradually become the norm.


• Clear roles and responsibilities – otherwise confl ict ensues and people sit back and don’t take accountability, so you have to do it.


Start your new business journey with confi dence


Promotional Feature The process of starting a new business can be a little daunting at fi rst, but with the right business plan and market research in place, there's no reason why you shouldn't begin your exciting business journey with confi dence.


Setting up a limited company can be simplifi ed


when using a company formations agent – they’ll work with you to register your company and will assist you post incorporation with other essential start-up services.


PLEASE NOTE !! This is a low resolution proof. NOT indicative of fi nal positioning


Here are some of the benefi ts of setting up a limited company:


within the publication. Your advert will be place as per your booking.


• You can take more money home: As a director of a limited company you can pay yourself a low salary (placing yourself in a lower income tax bracket), and then top up your pay through dividends.


• Liability and exit strategies: Perhaps the biggest benefi t to a limited company is that your personal assets are kept as a separate entity; if your business sadly fails, you won’t be personally liable. Furthermore, when deciding to take a break from your business you can transition to become a dormant company or over time you may consider the selling of shares.


• Naming: Your business name is a big part of your brand identity, and a good quality name could see more success for your business. When registering a limited company, your business name is protected by law.


• Dormant companies: Setting up a limited company gives you the added benefi t of entering periods of dormancy, where the company does not have to trade to continue to exist. This can be useful if you need to take a break or build up your investment fi rst.


What is a company formations agent? Formations agents not only work with you to get your company registered through Companies House but they provide you with value-add services.


20 Be Your Own Boss distributed with Smarta Formations are a Companies House


authorised agent, and you can incorporate your business online from just £9.99 (which includes the Companies House set up fee). Thousands of entrepreneurs have been helped start, manage and grow their enterprizes into successful businesses which continue to expand year on year. Their additional services will ensure you are compliant, and can help with:  Setting you up online  Business banking  Insurance  Investment funding  Business cards  Accounting services  Merchant card services  And much more…


What's more, you’ll get unlimited support and be assigned a personal Account Manager who will be on hand with you along your journey. It's time to be your own boss and start your business journey today!


GET IN TOUCH!


Smarta Formations smarta.elinkcompany.com 03303 351573


• Be clear about what you stand for and have values (and live them)! Otherwise the staff will think profi t is your only driver and will disengage.


• Ensure you have the right management team – who can deliver your strategy.


• Engage your team – you cannot grow the company alone. Everyone needs to be on board.


• Have a strategy – business growth requires a plan and you will need the right people around the table along with an engaged workforce to help deliver it.


Keen to hear more about how to increase


your bottom line through more eff ective people management? Get in touch via hunteradams.co.uk or call their London offi ce on 020 3714 4930.


READER OFFER!


Free one-hour consultation meeting available for leaders interested in engaging their staff and increasing profi tability.


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