- A new series of podcasts has been launched as part of CA ANZ’s 'Driving the business behind your business' brand campaign
- The podcasts feature media personality Ross Greenwood discussing SME issues with Chartered Accountants
- The second podcast in the series addresses the issues of staffing – and how a CA can help
Small and medium enterprises (SMEs) employ 70% of the workforce – and good staff can be like gold. But as media personality Ross Greenwood notes in the latest podcast to promote the Chartered Accountant brand, managing staff can be a major challenge for SME owners.
The podcast is part of "The Network" series, which sees Greenwood have conversations with Chartered Accountants to explain how CAs can be a trusted business partner and deliver valuable solutions to the key challenges SMEs face.
The second podcast of the series looks at staffing and sees Greenwood catch up with David Armstrong, Director of Sydney-based firm Modoras Downes Barrington. Armstrong sums up the challenge saying that when it comes to employee management, business owners need to be the "finder, minder, binder and grinder".
"Let people become part of your vision."
Greenwood notes that some SME owners are better at dealing with people than others but Armstrong explains, "A Chartered Accountant can teach HR skills." He shares an anecdote about one of his own clients, who was experiencing high staff turnover. Armstrong knew the staff trusted him as a Chartered Accountant and were more likely to open up about the issues they had with the business. It turned out many wanted more flexible working hours, and armed with this information, the owner of the business was able to introduce changes that "resulted in increased staff engagement and an increase in sales."
As Greenwood notes, the cost of finding and inducting staff can be prohibitive for an SME. But Armstrong explains two solutions. "First, communicate with staff about what they want – and why you want them. And secondly, don't overlook older workers who can be more loyal to a business."
Trust is also a critical ingredient in the staffing mix says Greenwood – after all, employees can have considerable access to sensitive data. As Armstrong notes, SMEs that find it difficult to trust their staff simply won't grow. "Let people become part of your vision," he adds.
SMEs can face a maze of complicated employment frameworks, and Armstrong describes how a CA can help. "A Chartered Accountant do a risk evaluation of employment terms," he says, "and help business owners ensure employment agreements are property drawn up with respect to the rights and obligations of both parties."
It's the sort of information that can be critical to the long term success of an SME – and the podcast delivers a powerful brand message about how a CA needs to be part of a SMEs support network.
Listen to the podcast
Hear David Armstrong and Ross Greenwood discuss how a CA can help SMEs with staffing issues.Check out the podcast here