In the current senior executive shortage, how are you working to combat staff churn? Phil gives some advice on how to retain staff in your organisation.
Money is the top reason why people move jobs. In fact, for 49% of people, salary and compensation are deemed more important to them now than before the pandemic. With the rising cost of living hot on everyone’s lips, people are now looking around for better pay. Combine this with a shortage of workers in certain fields, and you now have an employee’s market.
These are uncertain times, exacerbated by the one-two punch of COVID with the threats and realities of war. The current challenges that businesses in New Zealand are facing include supply chain issues, high inflation and problems with procuring suitable staff. With the risk of rising interest rates and tighter monetary conditions, businesses must find ways to cut costs to make up for weaker sales growth. To offset higher costs, businesses also need to balance raising their own prices with maintaining competitiveness in the market.
Got a great idea but little time to create a detailed business plan? Don’t hold off on progress … kick things into gear with a simple one page business plan.
