It’s no secret that the world of business is changing at a rate of knots. New and existing start-ups seem to be popping up all over the place, boasting envious growth rates, cool offices and “hot desks”. Business trends are changing the way we do business every day.
The age of the average CEO is steadily lowering, and as a mature business professional, you can’t be blamed for feeling a little overwhelmed with all these shiny new millennial trends.
It’s easy to snub them off in your own business. After all, sleeping pods and 3 pm Friday knock-offs do sound a little over the top. But, the reality is, in today’s business world, you can’t afford to ignore the trends that are becoming the norm.
Now more than ever, it’s essential to stay on top of the latest corporate trends in Australia. Some of the ones we’re going to talk about today may take such little effort to implement into your office environment you could do it in as little as a couple of days. In doing so, you might broaden your appeal to young and “hip” professionals who will eventually become the backbone of our economy.
Here are some trends in the Australia business world to look out for today.
Feedback
This one can’t really be classified a business trend, rather a standard procedure. Professionals in the modern era tend to love feedback. And no, I’m not talking about the kind of feedback one gets from a yearly performance review. I’m talking about ongoing recognition of daily wins. If an employee lands an excellent account, let them know you appreciate all their hard work.
Many companies today are holding annual awards evenings to recognise talent within the business. This can be an excellent way for your entire team to get together and bond over their hard work – both collectively and independently.
You don’t need to start handing our participation trophies willy nilly. You do need to start recognising them at weekly intervals. A a 10-minute weekly one-on-one Work In Progress meeting might be all it takes to maintain enthusiasm.
Did you know that 74% of those in the workforce today simply don’t know what their boss thinks of their performance? If staff these days don’t know what they’re doing right and what they’re doing wrong, you can hardly blame them for not developing in their role,
Yes, consistent appraisal can take valuable minutes out of your day, but you don’t have to be the one delivering it. ANZPEO can help you put together and perform these ongoing evaluations on your behalf so that it becomes something that’s second nature across all levels of employment at your business.
Get fancy
You’ve seen the ultra-cool infomercials for software giants in your LinkedIn newsfeed. It’s the national sales manager for the firm who’s taking you on a tour through their offices, past the popcorn machines and waterslides to end at the complimentary cafeteria.
It seems there’s no end to how avant-garde today’s working spaces are. But business trends like freshly squeezed juice bars and ping pong tables aren’t really making a difference in the performance of staff. 96% of employees today just want flexible working conditions. They want to be able to work from home if they’re having a fridge delivered that day. They want to start early and finish early to beat the insane Sydney traffic. For mainly autonomous roles, is that so much to ask.
The modern employee doesn’t want to feel like a rat on a wheel, and they don’t want to feel “stuck” in a role. They don’t want to be gawked at when they apply for a Monday’s leave. Don’t think that forcing your employees to take time off for themselves is going to cost you money. In fact, with only 50% of people actually cashing in their sick and leave days, companies are finding their productivity levels drop significantly.
If, on the other hand, you have an employee who’s become a little indulgent with their leave days, you must do your due diligence in determining if they’ve actually done something wrong. But with regulations changing each and every day, how do simply know you’re complying, particularly if you’re a nation-wide or international, company with different laws inherent of each state? ANZPEO have in-house HR experts on the ground here in Australia who specialise in ensuring all parties are complying to the relevant leave laws. Leave entitlement laws are second nature to us because it’s what we specialise in. Let us help you navigate each state and federal law where you have staff, to keep you compliant.
Outsource to a PEO
The days of managing all your business processes in-house are over. With technology making remote working more accessible, more and more businesses are choosing to outsource their HR services to a third party, like ANZPEO.
Whether it’s customer support or virtual assistants and accounting, you can manage a multi-national, multi-billion-dollar company from your home office. You might run a company in the US and want to expand into Australia. Or you might currently have an entity here in Australia but want to cut back on your costs of having an HR department on the ground. Our PEO services can take care of all the groundwork for you, so you can continue running your business from wherever you are, without having to worry about your payroll office here in Australia.
Want to know more about the business trends taking the corporate world by storm?
If you want to know how ANZPEO can help you stay on top of the latest business trends, contact us today.
