Category: Business Advice

Effective Employee Benefits Don’t Have to Cost Much

Work life balance and flexible working benefits may be more valued than some of the more expensive employee benefits offered by some businesses.

Google is well known for providing everything from free food to onsite gyms, while Netflix has joined the bandwagon of firms offering unlimited holidays. What these employers demonstrate is that in the war for talent, large businesses are prepared to invest heavily in order to attract and retain the best people. Competitive pay and good benefits still factor into an employee’s decision to join and stay at a firm. However, the market is starting to focus on offering some other key benefits. To truly enjoy their jobs, employees must feel that their employers want to provide them with what they need to be successful in both their professional and personal lives. A recent study by Mercer identified three factors that employees are looking for in a company.

Flexibility

The nine-to-five workday is outdated. Regardless of industry type, flexibility is incredibly important to employees who are trying to get their work-life balance right. Firms that offer employees flexibility in the form of remote working, flexible schedules and the technology to work from anywhere are attracting the best people. Flexible working has also been linked to reduced levels of workplace stress, better employee well-being and increased productivity. The best firms have created a culture of trust. They trust their employees to self-manage and get the job done.

Health and Well-Being

Workplace wellness initiatives show employees that their employers truly care about their health and well-being. To be successful, employee wellness programs need to be customised and include a wide variety of wellness initiatives such as fitness activities, onsite health screenings, providing standing desks and regular ‘lunch and learn’ sessions. To truly make a commitment to employee health and wellbeing, employers need to lead by example and create a culture of wellness across the whole firm.

Working With a Purpose

The next generation of talented employees are coming up through the ranks and they want to work for a firm with a purpose. They are willing to give up fancy offices and free coffee in exchange for getting to work on more fulfilling projects that make a difference. Modern employees want to feel their work is contributing to the greater good of society. In order to create a sense of purpose for your team, you should create a company vision, develop a reward and recognition system that encourages the right behaviour and educate your employees as to how their job impacts the firm, its customers and the wider community.

At A&C Chartered Accountants we do many things for our employees. Our office in Sale has standing desks for all our staff members and we offer flexible working hours. We pride ourselves on not being the stand accountancy firm and our great coffee and daily healthy treats (and not so healthy) means our staff enjoy coming to work. We always welcome our clients into the office to see how we operate and welcome open feedback.

Our fantastic team offer a wide range of services which are unique to your business. As start-up accountants we have a wealth of experience in all sectors. The team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

Our fantastic team at A&C Chartered Accountants are here to help.

Creating a more inclusive workplace

Diversity and inclusion are hot topics as society is driving firms to become more inclusive.

Most business owners and managers are well aware of the value of having a diverse workforce. Different views, different experiences and different ways of thinking among team members can help businesses to come up with new and innovative ideas.

However, having a diverse team of people working in your business doesn’t work very well if the firm doesn’t have an inclusive culture. To make the most of your team you need to welcome them to the team and encourage them to get involved.

Put simply, diversity is the mix of people in your business. Inclusion is how you leverage and utilise that mix of people. An inclusive business gives everyone the opportunity to contribute.

While managers and business leaders have ultimate responsibility for setting the firm’s culture, employees can do their part in making it a more inclusive environment. For example, your team members could make an effort to interact with other employees outside of their own team. This could help them to gain new insights from other parts of the business and encourages them to become interconnectors between different teams / departments.

Another good way to encourage inclusion is to involve other people in your meetings – you could invite a guest from a different department to join your monthly team meetings.

They could contribute their views and this would also give them the opportunity to get to know your team. To change things up even more, you could rotate the person who leads the meeting each month. This means that at least one different person is speaking at each meeting.

The most inclusive businesses leave their assumptions at the door. It is easy to make assumptions about other colleagues. Making a conscious effort to leave your biases at the door will encourage others to do the same.

Inclusive businesses are about empowering others. Encourage your team members and colleagues to grow by letting them solve problems, come up with new ideas and develop new skills. Encourage them to be accountable. This shows your colleagues that you have confidence in them and in their ability to perform their job well.

If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

Our fantastic team at A&C Chartered Accountants are here to help.

How can you raise prices without losing customers? The cost of running a business goes up every year, but when was the last time you increased your prices?

Many business owners and managers worry that if they were to increase prices, they would lose customers.

However, a customer will often be willing to pay a higher price if they feel they are getting value for their money.

A good way to increase your prices can be to bundle products or services together and offer the combined bundle at a price that offers value to the customer. For example, a phone contract might have a higher price but it may include a bundle such as unlimited calls and 20GB of data per month. The key is providing value to the customer.

Find a way to differentiate your offering. Perhaps you could offer new online services to your customers such as an online portal or an app. Maybe you could create faster, more efficient processes so that your customers get a faster, more efficient product or service from your firm, compared to the competition. If you offer something that is seen to be the best in its class, that offers a benefit to your customers, you may be able to increase your prices.

You can test a higher pricing strategy on new customers. Your existing customers might be resistant to a price increase but new clients will be unfamiliar with your pricing so they may accept the higher price if they feel that you offer more value to them than your competitors.

If you do increase prices for your existing customers, you need to communicate well and explain clearly why you had to make the decision to increase your prices. Do your market research to make sure that your pricing isn’t completely out of line with competitors. If your business is not significantly different to the nearest competition, you may run the risk of losing clients.

Large sudden jumps in your prices will not go down well. Instead, introduce gradual increases such as 5% or 10% per year, depending on the type of business that you run. Everyone knows that the cost of doing business goes up each year. If you communicate with your customers, they may be more receptive to small increases.

We love nothing more than learning about new start-ups and helping you get off on the right foot! We offer a wide range of services which are unique to businesses who are just getting going! As start-up accountants we have a wealth of experience in all sectors between our team. From restaurants, fashion brands, fitness centres and many creatives start their business correctly and ensure they are staying tax compliant. The team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

Our fantastic team at A&C Chartered Accountants are here to help.

It’s time to rethink how we connect with customers, suppliers, colleagues and the business community.

The way we work is becoming increasingly digital. Today it is pretty normal for people to work remotely at least one day per week and this is just the tip of the iceberg.

As the future of work looks set to become more and more focused on digital, it’s going to be the fundamental human skills that remain most relevant. Skills like being able to seek out and learn from someone who already possesses the skill you’re looking to acquire; being able to display value through a meaningful conversation; being able to pick up on and understand people’s pain points without needing them to be pointed out in the first place. Despite the focus on all things digital, the most important business skill of all will continue to be having the ability to spot a commercial opportunity.

The shift to a more digital focus has seen people become increasingly isolated. As such, people who understand how to form meaningful connections will have the advantage. Tools such as LinkedIn, Twitter and Instagram are useful, but they are just that, tools. The most meaningful business connections still come through genuine conversations and physical meetings. When it comes to success in business, we are all familiar with the phrase “it’s not what you know, it’s who you know.” Many of the most valuable skills in business are soft skills: communication, relationship management, leadership, etc. which means that the way to succeed, regardless of the type of business you work in, is to make meaningful connections with people who have influence.

As the world continues in this direction of social media, online connectivity and remote working, it’s likely that over time we will see closed or vetted social networks adding more value for business people. This is already happening on platforms such as LinkedIn through Groups, etc. More importantly, it’s going to be the individuals who invest in bringing these online connections, offline, that possess the greatest professional advantage. In business, “people buy people”. People want to do business with individuals that they like and respect.

We love nothing more than learning about new start-ups and helping you get off on the right foot! We offer a wide range of services which are unique to businesses who are just getting going! From restaurants, fashion brands, fitness centres and construction business, we have a wealth of experience. Our team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

Our fantastic team at A&C Chartered Accountants are here to help.

In today’s fast-paced business world, here are some tips to help you to be more effective at multi-tasking.

Over the past 10 years or so businesses have become leaner by reducing employee numbers, focusing on efficiency and increasing the demands on their staff. An increased workload forces us to multitask, which may be effective for a short period of time, but over the long term, can cause stress.

Multitasking is not about “piling on the work” to the point of exhaustion. It’s about training the brain to channel energy in an efficient and effective manner so you can accomplish more in less time. One of the keys to learning how to multitask effectively is actually to slow down, in order to accomplish more.

Set Priorities

Try to think of your brain as a computer. If you are working within multiple programs and have numerous windows open so you can quickly jump from program to program, you may find that your computer crashes a lot, due to the strain. The same thing happens in your brain. When you’re performing multiple tasks that require your undivided attention, your brain gets overloaded, as it can only process information from one channel at a time. Therefore, do not multitask if the assignment requires your full attention.

Useful tools

Make lists and write things down. You can’t remember everything so having a central to-do list is helpful. If you have a list of items, you need to refer to often (such as pricing schedules or keyboard shortcuts) position this next to your phone or computer for quick access. Plan some “management time” in your calendar each day – this might be a 45-minute slot where you have no meetings and can take stock, look at your to-do list and work through anything that needs your immediate attention.

Shift multitasking to single tasking

Your brain cannot multi-task all the time. So, occasionally, stop multitasking and allow yourself to do just one thing for fifteen to twenty minutes. At the end of this “rest period”, you’ll feel refreshed, alert, and ready to tackle more tasks – and you’ll do so with fewer mistakes.

Take regular breaks

Make the most of your breaks – avoid working through lunch and make sure to take a short break in the morning and afternoon. Use your break to walk around the building, sit outside, or do whatever you like for a few minutes to clear your head and give your brain a rest. Taking this time out during the day can actually make you more productive.

We offer a wide range of services which are tailored to your unique business. Our accountants have a wealth of experience in all sectors and ensure your business correctly and ensure they are staying tax compliant. The team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

Our fantastic team at A&C Chartered Accountants are here to help.