Biz Momentum Blog

• an employee changes employer,
• the work the employee does for each employer is the same or substantially similar,
• there is a particular connection between the old and new employers, ie either a transfer of assets used in connection with the work or an outsourcing or an insourcing or where the two employers are ‘associated employers’.
  

Where the new employer takes on employees, the application of the transferred industrial instruments is generally limited to those employees, plus any new employees the employer employs where the workplace is industrially instrument-free.

This is a complex area and will require many small businesses to change their remuneration practices and serves as a reminder that if you sell or engage in an merger and acquisition of a business to ensure that you account for employee entitlements in the sale/buy price.

IBIS World confirms what we already know: Australian is concerned about job losses and the economic instability. IBIS have compiled a list of the top 10 jobs expected to do well and the 5 worst jobs that are not expected to do well. Consider the following sectors:

Top jobs

• Biotechnology
• grain and livestock farming
• blood bank and health services
• waste disposal services
• online shopping
• online information services
• non-building construction
• cosmetic and toiletry retailing
• ISPs
• passenger rail

Worst jobs

• Banking
• domestic airlines
• real estate agents
• tyre manufacturing
• boatbuilding

Gives you something to ponder doesn’t it.    We at Biz Momentum believe that time will tell however if you need to downsize, then do so within the law.

We live in one of two tents: content or discontent (anonymous)

‘the choice is ours’

Death and serious illness is not a favoured topic in the workplace. We as a society have built a taboo around such subjects so that we are insular and isolated from these matters.  However, the honest fact is that in the employment environment, if you employ workers, you will be faced at some time with serious and terminal illnesses in the workplace: an employee’s or yours.  Serious illness is not a respecter of person’s and usually visits when least convenient to you and your business however you must face the issue head on.  You may have questions such as how long will the employee be away, do I need to keep their employment open, how should my employees and I react to the person along with many others. You should not be surprised if you experience many mixed emotions or fail to understand how to deal with these matters. This is understandable!  The there is a variety of legislation you must consider before making decisions when facing such issues and your business has a number of obligations towards employees. The fact is that this is not an easy time for you as a business owner however the truth is the employee needs your support.

Whatever you do manage the process with understanding and compassion you are dealing with a human being and you yourself will face this one day.  Help is a phone call away.  Having assisted businesses with these matters we understand and can guide you through the maize of decisions you need to make.  You are not alone, others have gone before you.  

A recent study found that Australians work the longest hours of anyone in the world. Apparently we have stacked up billion of dollars in accrued annual leave payments.  Overwork and a general lack of balance in life have been proven to be linked to a large list of illnesses and social ills. 

Failing to take regular leave has consequences on the cash flow of your business and may leave you open to workers compensation claims for fatigue. Tired workers do not perform as well as those rested. Take the time to develop a recording mechanism and strategies to ensure that your business risks are minimised.  If you are unsure how to proceed contact Biz Momentum www.biz-momentum.com

Business confidence has hit an all time low in Australia over the last few months and many businesses are looking at ways to cut costs and stay afloat.

A popular way has been redundancy: that is making the employee’s position redundant. Remember it’s about the position not the person.  Failing to conduct a redundancy fairly and within legislation will leave your business at risk of serious fines and penalties. 

Do your own research and careful consider. The old saying Caveat Emptor is right. You may well do better leaving your funds in the bank however make sure you are getting the best interest rates as banks are notorious for giving the least they can. 

The current environment has created bank competition for funds because of the lack of cash availability on the marketplace.  Use it to your advantage.

Phil once spent 12 years in banking and finance including global treasury, investments, taxation and accounting. This article is his opinion and is provided as information only.