B2B Magazine Issue 119 September 2016

119 SEPTEMBER 2016

B2BMAGAZINE.COM.AU

New advice column:

INSOLVENCY

by Vincents Chartered Accountants (p.32)

Have you booked your Christmas function?

Check out pages 4-5

Capital Document Storage

Are boxes of documents clogging up your office? (p.12)

Envisioning your financial life COVER STORY (p.24)

Pink Frosting:

The icing on the cake

Louise Curtis turns around this great business (p.20)

Seears Workwear:

Pat Seears talks about his success (p.16)

P/ 6279 4200 www.aulichcivillaw.com.au

Preserving wealth, values and wishes.

• Wills • Testamentary Trust Wills • Guardianship guidelines • Self-Managed Superannuation Nominations • Enduring Power of Attorneys • Superannuation Binding Death Benefit Nominations • Enduring Power of Attorneys •Advance Care Planning Contact Lisa Barlin, Partner or Erin Taylor, Senior Associate from Aulich Civil Law

lisa@aulichcivillaw.com.au

erin@aulichcivillaw.com.au

Book your Christmas Function

Book your 2016 Event at Thoroughbred Park.

Hospitality packages are available for race days or lunchtime/evening functions.

Conferences | Race Days | Large Functions Visit Thoroughbrdpark.com.au or call 02 6204 0000 for more information. thoroughbredpark.com.au facebook.com/thoroughbredpark

Book your Christmas Function

CONTENTS

24

ISSN 1833-8232

COVER STORY

Envisioning your financial life

Envision Financial

PUBLISHER'S NOTE 7 Spring –a bloomin’ good time

by Tim Benson SMART BUSINESS TIPS 7 How to stop procrastinating

by Smart Business Guardian UPFRONT 8 Introducing the DFP Project Job Index

by PCA people 8 Canberra company removes barriers to doing business with government 10 Separation - to move out or not?

by DDCS Lawyers 10 'Bite the bullet' on cyber security

by Strata Community Australia 11 Marist College Canberra Foundation Annual Golf Day 12 SMSFs, Property Investments and LRBAs

by Gillespie Group 12 Capital Document Storage – smarter document solutions

by Tim Benson FEATURE 13 Your slow moving hiring process is losing you talent!

by HorizonOne 14 $100 million worth of recreational vehicles heading to Canberra

by Campervan and Motorhome Club of Australia Limited 16 Serving Canberra’s workers: be they public or private sector

by Tim Benson 17 Behavioural insights for business process improvements

by RSM 20 Pink Frosting is the icing on the cake …

22 My Adelina: A cleaning service that gives you back your freedom to live life to the fullest

by Tim Benson ADVICE 29 ACCOUNTING SMEs eye the ABCs of SMSFs in retirement

by RSM 29 BOOKKEEPING Bookkeeping 50:50 - why customer 6

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service is as equally important as your accounting knowledge?

by Tailored Accounts 30 BUSINESS LAW Beware the hidden dangers of franchising

by Bradly Allen Love Lawyers 30 BUSINESS SUSTAINIBILITY Benefits of solar for business

by Actsmart business recycling. energy. water.

31 CASH FLOW SOLUTIONS Good invoice finance

by Fifo Capital 31 CYBER SECURITY Adversary Simulation - proactive security to the next level

by Cordelta 32 INSOLVENCY ATO warns off ‘dodgy’ preinsolvency advisors

by Vincents chartered accountants 32 INTELECTUAL PROPERTY International protection of Trade Marks

by Moulis Legal 33 RECRUITMENT Counter offers fail to entice

by HAYS Recruiting experts worldwide 33 STRATA MANAGEMENT The great divide

by Vantage Strata 34 WEBSITES 7 reasons why your website is not converting

by Synapse Worldwide A2B: ASSOCIATIONS TO BUSINESS 36 CANBERRA BUSINESS CHAMBER You only get one first impression: Brand CBR G2B: GOVERNMENT TO BUSINESS 38 UN gives ACT top marks for ethical investment BUSINESS NETWORKING 40 B2B@Business Luncheon: The New Geography of Innovation with Dr Josep Pique 41 B2B@Ambassador Paul Grigson Lunch 42 B2B @ Marist College Canberra Foundation Golf Day

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EDITOR / PUBLISHER Tim Benson editorial@b2bmagazine.com.au 0402 900 402 02 6112 8175 PUBLISHED BY Man Bites Dog Public Relations ABN 30 932 483 322 PO Box 4106 Ainslie ACT 2602 b2bmagazine.com.au ADVERTISING B2B Magazine advertising@b2bmagazine.com.au 0402 900 402 02 6112 8175 EDITORIAL ASSISTANT Termeh Garmestani termeh@b2bmagazine.com.au 02 6112 8176 PHOTOGRAPHY

Andrew Sikorski: Art Atelier art-atelier.com.au DESIGN Kasra Yousefi kasra.com.au 02 61128195 Page 4-5 illustrations: freepik.com LEGAL NOTICE Man Bites Dog Public Relations (‘MBD’) owns the copyright in this publication. Except for any fair dealing as permitted by the Copyright Act 1968 (Cwth), no part of this publication may be reproduced without the prior written permission of MBD. MBD has been careful in preparing this publication, however: it is not able to, and does not warrant that the publication is free from errors and omissions; and it is not able to verify, and has not verified the accuracy of the information and opinions contained or expressed in, or which may be conveyed to readers by any advertisement or other publication content. MBD advises that it accepts all contributed material and advertisements contained in this publication in good faith, and relies on various warranties and permissions provided to it by the persons who contribute material and/or place advertisements. Those warranties and permissions include that neither the material and/or advertisements are misleading, deceptive or defamatory, and that their use, adaptation or publication does not infringe the rights of any third party, or any relevant laws. Further, MBD notifies readers that it does not, nor should it be understood to endorse, adopt, approve or otherwise associate MBD with any representations made in contributions and/or advertisements contained in the publication. MBD makes no representation or warranty as to the qualifications of any contributor or advertiser or persons associated with them, and advises readers that they must rely solely on their own enquiries in relation to such qualifications, and be satisfied from those enquiries that persons with whom they deal as a result of reading any material or advertisement have the necessary licences and professional qualifications relating to the goods and services offered. To the maximum extent permitted by law, MBD excludes all liabilities in contract, tort (including negligence) and/ or statute for loss, damage, costs and expenses of any kind to any person arising directly or indirectly from any material or advertisement contained in this publication, whether arising from an error, omission, b2bmagazine.com.au misrepresentation or Facebook: @B2BmagazineCBR any other cause.

Twitter: @B2BinCanberra

PUBLISHER'S NOTE

SPRING –A BLOOMIN’ GOOD TIME

I

have been watching with amusement The Labor Party and The Greens are promising the first weeks of the new federal billions of dollars of light (autocorrect from feral) parliament. rail infrastructure that I’ve got to say I still don’t get it. The Coalition seems to be wandering around will drive investment and all hairy chested saying things like: ‘We are business growth for the next the Government’, ‘The people have given 50 years and on the other us a clear majority’, ‘We have a mandate’. side, the Liberal Party, are Seems a little arrogant to me – especially promising more buses. since they just lost three votes in the House of Representatives – first time a Government has lost a vote in the House in 50 years. So as the then editor of Le Figaro, Alphonse Karr, once famously said: ‘the more things change, the more they stay the same’. Pity, as there seems to be an opportunity to reach across the aisle and work with the opposition to implement some major, economy shifting, legislation. But this could possibly be a step too far for both major parties. Having been a political media adviser for ten years from the mid-1990s, I basically can’t stand watching politicians on the news. Their lines are scripted and crafted to a point where, even if they sound stupid and look silly, they still parrot them out. Most of the time they give me that dull heavy feeling at the front of my brain that is brought on from accidently watching Neighbours … which brings me to the ACT Election to be held on Saturday, October 15. Never has there been a bigger choice for Canberrans to make about our future.

On the one hand, The Labor Party and The Greens are promising billions of dollars of light rail infrastructure that will drive investment and business growth for the next 50 years and on the other side, the Liberal Party, are promising more buses … god bless their cotton socks! Yes, folks, this is what the election is going to come down to: a vote on light rail. Now one would think Canberran’s, being the best paid and most highly educated mob in the country would go for the infrastructure … but hey, Donald Trump! Which brings me to Spring in the Capital. Not, in my humble opinion, the Territories best season, but a step in the right direction towards Autumn.

Tim Benson, Publisher Send all comments to: editorial@b2bmagazine.com.au

How to stop procrastinating Kristin Miller General Manager Smart Business Guardian We all do it! Even those of us who are good with managing our time. There are always those tasks that we keep finding excuses to push back. Each time this happens I promise I won’t let it happen again but of course it always tends to. To help you all avoid this I have come up with some tips to help overcome this problem.

1. Make a to-do list and include only the items that you are avoiding. Then set deadlines for each task.

2. Break the task down to smaller ones. This will stop you feeling overwhelmed and help you get started.

Once you get some momentum you will be more likely to finish.

3. Reduce the temptation to do other things or get distracted (turn off notifications, shut down email, don’t open social media) 4. Bribe yourself. When you finish the task you can then go do something nice for yourself.

5. Ask someone to help you with the task.

6. Make your list public or tell work colleagues. They will help make you accountable.

7. Change your environment. If you need to take yourself out of the office to finish the task do so. Perhaps work from home or from a café to focus and get the task done.

(02) 6162 1187 49 Phillip Avenue, Room C205, Watson, ACT 2602 smartbusinessguardian.com

UPFRONT

Introducing the DFP Project Job Index

By Sandy Gibbs

A

t PCA People we recognise the need for our clients in the Project and IT sectors to understand the dynamics of the employment markets in which they operate. By obtaining data, analytics and trends we can help you to recruit and better manage salary and wage costs.

We also want to provide to our candidates in this sector, information about demand for skills, experience and the knowledge necessary to negotiate salary and wages.

Focusing on contract and permanent project management recruitment across all industry sectors, DFP Project works in partnership with trusted advisors to

provide quality results by researching talent, recognising talent and integrating talent.

The DFP Project Job Index is the first of its kind. It uses artificial intelligence to break down complex employment data gathered from nearly 5,000 job boards, career portals, recruiter and employer job vacancy lists. This is transformed in to useful information to help you set strategy, support decision making and ensure your employment and recruitment goals are exceeded. It is the first Index in the project management sector to provide detailed market analysis by location, job type, occupation and sub sector.

Here’s a brief recap from July’s data: • Project Management job vacancies rose by 4.8% in July.

• With the exception of ACT, all States and Territories experienced increases in vacancies.

• Of the major sectors, Financial Services was the only one not to expand, falling 1.2%.

• The Public Sector rose by 6.1%, leaving it’s index at a new high of 185.42.

How can this information help you?

• Assessing demand for specific skills and roles on a state by state basis.

• Manage contract and permanent candidates needs.

• Understand competitor behaviour.

• Manage hiring manager expectations.

• Develop smarter data based recruitment campaigns.

Subscribe to receive your free copy of the full report at pca@pcapeople.com

Sandy Gibbs Branch Manager PCA people a division of DFP Recruitment

T: (02) 6257 1010 http://www.pcapeople.com.au/

Canberra company removes barriers to doing business with government

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t is a well-known fact amongst those doing business with Federal Government that there is a real desire to engage with Small to Medium Enterprises (SMEs).

This however is sometimes difficult as often SMEs are not on panels, do not have a contract vehicle to engage or are very small and hence not experienced in tendering or working with government.

"The Turnbull government has a clear focus on innovation. SMEs are more often

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"We facilitate that very important process that allows government and SMEs to engage more effectively."

Department of Human Services.

SME membership is spread across all of Australia and with the increasing requirement for innovation, this will strengthen as will the depth of capability.

"In all cases, our client organisations value our deep capacity to perform through SMEs and provide exceptional value for money."

Stuart Althaus welcomes the opportunity to discuss matters mutually impacting SMEs and government and ways to address barriers in order to work more effectively together.

Reflecting the approach of his SME clients he can be contacted directly on 0411883203.

than not the ones that have this exceptional ability to impart innovation but are simply unable to connect appropriately," says Stuart Althaus, CEO of SME Gateway.

"We facilitate Stuart Althaus, CEO that very important process that allows government and SMEs to engage more effectively."

The benefits that SME Gateway has driven through this process are mutual for both

SME Gateway Pty Ltd P: +61 2 6295 7111 M: +61 411 883 203 Office Suite 101A, First Floor, Riverside Plaza, 131 Monaro Street, Queanbeyan NSW 2620 www.smegateway.com.au

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SME's and government and range in areas from ICT, professional technical services through to management consulting and niche area services.

SME Gateway facilitates this engagement through its access to panels and the help it provides SMEs in broader business development initiatives; one of the most important being the enhancement of submissions to government.

"This assistance provides value in two

ways," says Stuart, "On one hand prospects of success are enhanced; on the other SMEs have access to a meaningful platform to promote their own business capability in their own right."

SME Gateway has been working with SMEs and government since 2003 and has a substantial track record with hundreds of members and numerous significant contracts.

Many of these contracts reside within Defence, however the client base is now diversifying to include other organisations such as the Department of Finance, the Australian Taxation Office, the Department of Immigration and Border Protection and the

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Make Golf at Federal part of your Business Plan

We invite you to consider Federal Golf Club as a venue to hold your next great Corporate Golf event Golf days are a great way to:

Recent event and partnerships include:

+ Give back to valued clients

+ Mercedes Benz Canberra

+ Recognise and reward your high performing team members

+ Westfield

+ Raise money for your nominated charity

+ Sporting Heads of Mission

+ Provide networking opportunities for your clients and business partners

+ Canberra Business Chamber

At Federal we provide:

+ Snowy Hydro Southcare Helicopter Service

+ Flexible Corporate Golf Day options

In addition, if you have clients visiting Canberra who may be looking to include a game of golf while here, enquiries can be made on operations@fgc.com.au

+ An opportunity for your clients and guests to play one of the Capital Regions best courses

FGC-B2B0416 Streamline Creative

+ A wide range of catering options + An off premises facility for team bonding, motivating and engaging team members

+ Hays Recruiting

+ 104.7 | Mix 106.3

UPFRONT

Separation - to move out or not?

O

By Juliet Behrens

settlement. Meanwhile, the person who has moved out may have to pay rent while their equity is tied up in the house.

If their former spouse is particularly “dug in”, the person who has moved out may have to commence Court proceedings to get things to move forward, which is an expensive and slow process. You might spend a year or The fact that you have continued to more paying rent without any contribution from your former spouse, If you do not feel safe living under the one roof, only to find that makes little then applying for an Order excluding the other difference to the outcome of the property proceedings. spouse from the home may be appropriate Of course safety and if you do not want to (or cannot) leave. mental health concerns must come first, and happiness is important. Many clients live under the “one roof” will not stop you move out because of one or a combination from being able to apply for a divorce, of these factors. If you do not feel safe for child support and/or for Centrelink living under the one roof, then applying benefits as a single person. It does make it for an Order excluding the other spouse harder to prove that you have separated. from the home may be appropriate if If you do decide to leave, and there are you do not want to (or cannot) leave. no mortgage loan repayments to make If there are children involved then securing on the home, the person who remains parenting arrangements prior to moving living there may have little incentive to out can be very important. On the other “come to the table” to negotiate a property hand, inevitable tensions and conflict where ur clients often relay that friends or family have said they should not move out of the family home until they have reached a property settlement with their spouse. This is sometimes good advice, but there are many factors to take into account in deciding whether or not to leave.

their parents continue to live under the one roof can detrimentally affect children.

It is best to obtain legal advice as early as possible in the process so that you can be fully informed about whether, and how, to move out.

Juliet Behrens is a Senior Associate of the firm.

18 Kendall Lane, New Acton, Canberra phone (02) 6212 7600 mail@ddcslawyers.com.au www.ddcslawyers.com.au

'Bite the bullet' on cyber security

A

owners corporations and owners goes digital, cyber-attacks now top the list,” SCA President Erik Adriaanse said today.

“The Australian Crime Commission estimates put the annual cost of cyber crime to Australia at $1 billion a year and it would be Nationally, strata property is a $1.2 naive of us not to expect the $1.2 trillion strata trillion industry, and leaders property sector to firm are adamant that as more as a target.”

Australians call apartments Strata Community and units home, more Australia (SCA) is the peak vigilance must be taken at an industry body for Body owners corporation level.

Corporate and Community Up until recently, much of Title Management in the communication between Australia and Mr Adriaanse owners corporations and warns that without action, Erik Adriaanse (FCPA) (FPS) owners has been offline, but information like banking National President and Director as this migrates to digital details, property security Strata Community Australia Limited platforms, strata bosses are codes, emails and a range of warning that communities personal information could must make cyber security a priority. be in the hands of strangers.

A leader of the sector says without “Each and every strata property owner action, it could lead to an identity theft crisis, pays to receive services from their owners involving up to 7 million Australians living in corporation, and moving forward the next apartments and units. service must be cyber security.”

“For so long, mailbox break ins have “Whether we’re talking about a 3 lot block dominated the identity theft concerns present of units or a 200 plus dwelling apartment for strata communities, but as the storing tower, the information held by owners of data and sharing of information between corporations goes beyond just 1 individual, so ustralian apartment and unit owners are being warned that they are prime targets for cyber security attacks – costing potentially millions of dollars – and are being urged to ask the question “is my information safe?”

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it’s important these stakeholders’ bases receive assurances as soon as possible.”

Mr Adriaanse says strata communities present a “one stop shop” opportunity for thieves, trying to steal multiple identities at once, and as communities have been vigilant against mail box break ins, they must implement protocols to mitigate cyber attacks.

“This isn’t a threat that will go away in a hurry, so it’s time owners corporations make long term plans for how the information of owners can be kept secure.”

“In communities, we’re all familiar with maintenance plans and the like and it’s simply a case of adding a plan for cyber security into the mix.”

“Keeping the personal information of your owners safe from cyber attacks isn’t rocket science, like anything it can be done methodically; it just requires owners corporations to make the first move.”

Mr Adriaanse advises owners corporations to seek the advice of contractors in the cyber security field to understand what they can be doing better.

P +6209 1504 M +61 418 641 988 stratacommunity.org.au

UPFRONT

Marist College Canberra Foundation Annual Golf Day

T

he Marist College Canberra Foundation Annual Golf day was held at Murrumbidgee Country Club on Friday 12 August 2016 and proved to be a great day for all 24 Teams raising an amazing $22,000 for the Brother Mark May Bursary Fund. The Brother Mark May Bursary Fund was established in 2010 to fund educational bursaries for young men that would otherwise miss out on a Marist Education. The Fund has provided 17 young men with a Marist education since its establishment and the Golf day will help fund more into the future.

The day saw tremendous support from the following business sponsors.

Event Sponsor Construction Control Hole Sponsors Gillespie Group 360 Degree Fire Manteena Construction Huon Construction

Independent Property Group - Phillip MoveHappy Healthcare Centres RSM - Canberra Drink Cart Sponsors Canberra PetCare OPC IT BBQ & Breakfast Sponsor Bells Dry Cleaners Roger Bartholomew Mens Outfitters Winners The day saw lots of participants leave with gifts and prizes that were donated by the following companies AMP, Colonial FS, BT Funds Management, Macquarie, CommSec, Thomas Rowe, Fiducian Financial Services, Drummond Golf – Fyshwick

The winning Team for the day was “360 Degree Fire” captained by Chris Marshall.

Raffle The major prize of the raffle was an amazing golfing trip to Queenstown NZ valued at $7,000 that was won by the Young Guns from the “2013 Old Boys” team.

A big thank you to all the businesses and individuals that supported the day and we look forward to having you all back next year with your friends.

For more photos and details see www.maristgolfday.com

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At Callida we don’t promise, we do.

We have an experienced team dedicated to meeting our client commitments, every time.

Experience commitment with Callida.

Commitment over promise.

Financial Management Assurance Services IT and Management Consulting

callida.com.au // 6162 3339

UPFRONT

SMSFs, Property Investments and LRBAs

A

s more people are taking control of their superannuation by establishing a self-managed superannuation fund (SMSF) it is becoming increasingly popular to buy property in an SMSF. There are a number of important conditions when investing in property through an SMSF: • Residential property cannot be purchased from a member or related party; • Residential property cannot be used by a member or related party, even if they are paying market rent.

• The property must be used solely for providing retirement benefits to members.

The restriction on purchasing and leasing residential property does not extend to commercial property. A commercial property can be purchased from members, and can be leased to a member or related party on commercial terms.

Generally, SMSFs are prohibited from borrowing but there are limited exceptions.

One such exception is borrowing through a Limited Recourse Borrowing Arrangement (LRBA) to invest in property. An LRBA

means that the lender only has access to the property in the event the SMSF defaults on the loan – the other assets of the SMSF are protected. Using an LRBA to purchase property in an SMSF can allow you to accumulate wealth more quickly but borrowing to purchase any investment will increase the level of risk associated with that investment.

An LRBA must be properly structured and can be complex to set up – for example, your SMSF can use the funds from an LRBA to purchase and repair a property, but not to improve that property. In addition, and LRBA can be more expensive than other property loans. It will be necessary to maintain sufficient cash reserves in the SMSF to meet loan repayments. This may impact on other investments held by the SMSF, particularly if rental income from the property is not sufficient to cover loan repayments.

Ultimately, the decision to invest in property in an SMSF requires the same consideration that you would give any other investment – what is the level of risk, do the returns on the investment justify the risk and expense of borrowing, and how does

By John Gillespie

this investment fit in the overall investment strategy of my SMSF? A properly structured property investment, with or without an LRBA, can be an effective investment for an SMSF.

See our video at http://www.gillespiegroup.com. au/client_tools/video_gallery for an animated explanation of LRBAs. For advice on establishing an SMSF, setting up an LRBA, or finding the right investments for your SMSF contact the team at Gillespie Wealth Management on 6260 4994 or at john.gillespie@gillespiegroup.com.au John Gillespie is an Authorised Representative of Gillespie Finance Directions Pty Limited AFSL 478547 Phone: 02 6260 4994 68-70 Dundas Court Phillip ACT 2606 gillespiegroup.com.au

Capital Document Storage – smarter document solutions

By Tim Benson

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pened in June 2016 Capital Document Storage is the Canberra regions newest entry into the document storage industry.

Ray Price, general manager, has a wealth of experience in this field and is putting that into action by ‘revolutionising’ the document storage industry.

“For a start we advertise our price. With other document storage businesses, a customer will sign a contract and their prices will go up and up each year and every few years they have to move to a new company or renegotiate a competitive deal.

With Capital Document Storage we advertise our Ray Price, general manager price – everyone gets the same price and no-one is victim to hidden price rises. Our price will always remain competitive in the marketplace,” Ray explained.

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Ray says that customers save on average at least 30% to 60% when switching to Capital Document Storage.

“We have no permanent retrieval costs. This means you don’t have to pay a fee per box to permanently retrieve a carton.

We have no lock in fees, no permanent retrieval costs and no minimum storage requirements. You can store one box or a 1000 boxes for as long as you want,” Ray outlined “We are looking for law firms, accountancy firms and medical practices or anyone that is looking for a saving in their document storage.

We will help these businesses get out of their current costly storage arrangements – they can contact me to find out how,” Ray offered.

“Also, if you don’t use document storage, and you find that half of your office is taken up with boxes and filing cabinets, offsite storage can give you better value for money and we would like to hear from you.”

Capital Document Storage offers a range of customer focused solutions for document storage including: • offsite safe and secure document storage • carton to individual file or matter storage • ability to view or request holdings online

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• integration with office records management software, including LEAP • a range of sentencing or indexing options to suit each customer’s requirements (these are carried out by trained, qualified professionals) • a scan to email service for customers that require copies or information only.

• end of life destruction “I want clients to compare our service for themselves and to experience the levels of service and saving we have to offer. There’s a new way to experience document storage in the Canberra region. Why not call us and get a quote you won’t regret,” Ray concluded.

Capital Document storage is compliant with AS ISO 15489 Australian Standard on Records Management.

Capital Document Storage Canberra and Queanbeyan Contact Ray Price, general manager on 6156 1422, 0428 126 847 (direct) or 1300 200 227 Raymond.price@capitaldocumentstorage.com.au solutions@capitaldocumentstorage.com.au

F E AT U R E

Your slow moving hiring process is losing you talent!

By David Harrington

S

low moving recruitment processes and failure to move swiftly on key hiring decisions is crippling many organisations ability to attract and win talented staff. You could be forgiven for thinking that in today’s fast paced race for talent, where skill shortages are increasing and organisations are in competition for the best people, that hiring managers are sharpening their recruitment processes and looking for ways to put themselves ahead of the game.

But with ‘time to hire’ figures growing at alarmingly quick pace, this is clearly not the case. So why not?

At the recent Australasian Talent Conference, best practice insight and technology company, CEB presented statistics on trends in hiring ‘health measures’ between 2010 and 2015 as assessed by their global survey of 6000 hiring managers and 900 recruiters.

The results of their survey painted an interesting picture: Health measure

2010

2015

Time to fill

42 days

63 days

Quality of hire

7.97

8.03

No. of open jobs (average per recruiter)

20

25

There has been an almost 50% increase in the time it takes to fill vacant roles for internal recruiters (i.e. HR or recruitment staff within an organisation), but only a negligible increase in quality of hires.

With an average cost of an unfilled role at $500 per day, or $35,000 per vacancy (and even more for revenue generating roles), we see time to hire as a burgeoning issue requiring immediate attention.

Let’s put aside the obvious financial strain of a prolonged empty desk for a moment and take a look at some

of other the negative consequences of this increased time to hire: • Failure to secure key skills and top talent.

Candidates with niche skills are in very high demand. Competition is so high that in half the time your recruitment process takes, they will have already been snapped up by someone else.

• Loss of productivity. The extra stress and pressure of having to stretch across additional work can lead to employee burnout and reduced output.

• Good people leave. We have seen entire teams break down with key members losing faith in management and moving themselves to better opportunities.

• Damage to your brand. The old adage that one person who has a negative experience will tell ten others is certainly true in this case.

So what can be done about this?

Accountancy firm KPMG has recently decided to make its recruitment process much shorter because millennial applicants (people born between 1980 and 2000) are getting frustrated by the old system.

KPMG's previous arrangement required three separate assessments, which took place over many weeks. The new process however, will be carried out in a single day — and candidates will find out in just two working days if they have landed the job. POW! This decision follows a survey by KPMG in which more than a third of the 400 respondents said they were annoyed by the length of the application process. Even worse, more than half said they hated not getting any feedback if they did not get the job.

This is not the first time in recent times a big company has streamlined its recruitment process. A month ago, Goldman Sachs announced that it would scrap face-to-face interviews with undergraduates in favour of video interviews which were seen as an agile solution to speed up hiring.

Before you fall off your chair in outrage, we are certainly not suggesting that hiring any staff member without due consideration and due diligence is going to bring you a successful hire. It is however time to review your current hiring practices, take steps to help your organisation become ‘recruitment fit’ and be ready to win the race to secure top talent.

Our top tips: • Identify the skill shortages your organisation is likely to face and develop programmes that build your network and talent pools in these areas proactively. Partner with a reputable recruitment consultancy that are specialists in this area to assist you.

Their network will be much wider and deeper than yours, and they can keep your finger on the pulse of the market.

• Review your recruitment processes and cut out the bureaucratic red tape. Equip your organisation to be agile when it goes out to market for talent. This doesn’t mean don’t do the appropriate checks. Just do them quickly and efficiently and keep your candidates well informed of progress along the way. If you have not responded to candidates you have interviewed within 5 working days that is a major fail.

• Train your hiring managers appropriately so that they understand the consequences of poorly delivered and drawn out recruitment processes to organisational performance, finances and employer brand image.

Sourcing talent is a science, not a sales game

Please contact David Harrington Director at HorizonOne Recruitment on 02 6108 4878 or david@horizonone.com.au Level 1, 27 Torrens Street, Braddon www.horizonone.com.au

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F E AT U R E

$100 million worth of recreational vehicles heading to Canberra

Photo: Shane Strudwick

T

he Campervan and Motorhome Club of Australia Limited (CMCA) is the largest recreational vehicle (RV) club in the southern hemisphere with over 66,000 members and they are coming to Canberra to celebrate their 31st National Rally to be held at Exhibition Park in Canberra (EPIC) from 8 to 14 October 2016.

“An anticipated 1,000+ recreational vehicles will descend upon Canberra for this week long event and will contribute millions of dollars to the area’s economy during their stay. It is likely that there will be something

learn or teach new skills. For the budding photographer, there’s a photographic competition or for the poetry enthusiast, there is a Poets Breakfast each morning.

“The CMCA Master Chef will be there whipping up something fabulous in one of his cooking demonstrations or there’s the trade exhibition hall where Members will discover the latest and greatest new vehicles and bits and bobs,” Cathy outlined.

There will be a multitude of food and coffee vendors on site to satisfy the requirements of these 2,000 grey nomads.

“The CMCA Master Chef will be there whipping up something fabulous in one of his cooking demonstrations or there’s the trade exhibition hall where Members will discover the latest and greatest new vehicles and bits and bobs” in the vicinity of $100,000,000 in recreational vehicles on site,” Canberra Rally Manager, Cathy Lee, said.

Apart from the delights of Canberra there’s a full range of rally events planned including; seminars on just about anything, from travelling with pets, learning how to use the latest gadgets and technology, to RV preventative maintenance for the DIY handyperson. For the talented and artistic, there’s a craft barn, ladies shed and men’s’ shed where Members join with others to 14

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There will also be excellent nightly entertainment, which includes a variety of talent including some Canberra’s best along with some local children’s groups. The theme for the Rally Ball is Floriade, Members will dress up and dance the night away or just sit back, relax and listen to some fantastic music.

“But the highlight of the rally for many will be catching up with friends, both new and old and meeting some locals,” Cathy stated.

If you’d like to see what it’s all about, the general public are invited to attend

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the CMCA Rally Open Day to be held on Saturday 8 October 2016 from 8am till 2pm.

Entry will be by gold coin donation and all proceeds of the day will go to our local designated charity, Snowy Hydro Southcare.

“Members will take some time out from the busy rally schedule to explore Canberra’s attractions and many will enjoy an extended stay in the region, exploring the attractions the area has to offer,” Cathy concluded This is a fantastic opportunity for you to promote your business to this lucrative market. If you’d like to be involved or would like more information, contact Cathy Lee, Canberra rally manager on 0417 687 794 or canberrarallymanager@gmail.com The CMCA would like to thank the many local businesses for their support including the Tradies Group, Barlens Hire, Beyond Bank, Switched on Cycles, Peter Funnell Entertainment, O’Brien Smash Repairs, National Zoo and Aquarium, Cockington Green and Hire a Guide.

For more information on CMCA visit website www.cmca.net.au or call 02 4978 8788.

Photo: Kasra Yousefi

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Serving Canberra’s workers: be they public or private sector

By Tim Benson

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eears Workwear is a family owned and operated business. Between Pat and son, Shane, they have 35 years of experience in the industry. Melissa, Shane's sister, also works in the office.

They are located at 60 Barrier Street Fyshwick in Canberra and also have a shop in Penrith, Sydney.

The Seears Workwear premises in Canberra is approximately 1400 square metres

“It is extremely important that we provide the right equipment and the best safety products to our clients. We want to get it right the first time so that we build long-term relationships with our clients” in size and is owned by the Seears family.

“We commenced trading in our current building in May 2002 and have quickly grown to be recognised as the leader in our field, both in Canberra and the surrounding district,” Pat said.

Seears Workwear provides for the clothing and safety needs of virtually every kind of industry and worker alike.

From building labourers, chefs, blue and white collar workers to major companies and Government Departments such as Defence, and hospitals.

“We have the largest collection of workwear in the region. Whether you are a tradie, farmer or businessperson, 16

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we will treat you professionally and offer you competitive prices,” Pat ensured.

One of the things Pat wants the get across is the massive amount of stock that he has on hand.

“With 1400 square metres of space there are truckloads of stock ready to meet our clients’ needs,” Pat explained, “There is nothing worse than having to wait weeks for something to be ordered in.”

One of the main reasons for Seears Workwear’s success has been Pat’s passion for providing excellent customer service.

“It is extremely important that we provide the right equipment and the best safety products to our clients. We want to get it right the first time so that we build long-term relationships with our clients,” Pat outlined.

Having achieved a level of success Pat and his family believe in giving back to the community.

“We support and sponsor many local charities, sporting events and industry award schemes such as the MBA and HIA Annual Award ceremonies, where we are a major sponsor,” Pat said.

Seears Workwear also has a corporate section operated from the same address.

“We provide a free measure-and-quote and free delivery service.

We also provide a full embroidery and screen printing service,” Pat explained.

Pat says his is a very

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competitively priced business and that he is always prepared to negotiate on bulk orders.

Seears Workwear service the entire Capital Region from the surf to the snow and everything in between.

“We are also a major supplier to government and have many government departments and agencies as some of our best clients,” Pat stated.

Seears workwear is one of the largest stores of its kind in Australia and we are lucky enough to have it in our own backyard.

You can still find Pat in the store and he is more than happy to work directly with customers to meet all their workwear and safety needs.

“Our service, which we are proud of, and our huge stock holding in the store, are factors that we believe have seen Seears Workwear become a household name and such a successful enterprise,” Pat concluded.

Visit the store or shop online with a business that regards you, the customer, as its greatest asset.

(All Seears stock is sent via registered post.)

60 Barrier Street Fyshwick ACT 2609 T: 02 6280 4111 E: admin@seearsworkwear.com.au www.seearsworkwear.com.au

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Members of RSM’s consulting team Sumit Bhandari, Liesel Meinecke and Dr Robert Holmes

Photos: Kasra Yousefi

Behavioural insights for business process improvements To thrive in today’s shifting business environment, organisations need to tightly align their people, processes and technology with their strategic vision and goals. Once aligned, the relentless focus must be on achieving the vision.

On the front edge of applying Behavioural Insights in Australia

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ehavioural Insight (BI) is a fusion of psychology – understanding the individual, sociology – our society and culture, and economics – business, NGOs and government. In the last ten years BI has been used to carefully craft supermarket design, our city’s transit lane usage, the ATO’s relationship with debtors and even the colour of the changing rooms at the Olympic Games so nobody gets an advantage! We have found that BI can be applied subconsciously – the so called nudge effect, consciously – with interventions and in community wide policy change – also called decision architecture. Business, NGOs and Government can all benefit from BI.

“A BI integrated campaign can choose from three different categories of change and choosing them requires an understanding of both the audience and the influence of the BI change,” Rob explained.

NUDGE BEHAVIOUR Unconsciously affecting decisions through: Feelings, habits, public commitments, gating, imitation and endorsements.

INTERVENTIONS Consciously affecting decisions through: Modelling, enabling, training, education, persuasion and incentivising.

CHANGE POLICY Changing decision architecture through: Regulation, legislation, social planning, industry guidelines and fiscal measures.

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Customer is the focus in this wave of digital governance and innovation A range of business process applications assist in improving the overall customer outcomes.

“I have had great success in implementing business-processes with some of the largest Commonwealth Departments,” Sumit said.

Sumit was able to provide evidencebased advice to the departments for their future policy decisions and digital solution development. This, while the Departments introduced new approaches for public

“The Australian government must be praised for its active efforts in developing digital-governance as that will not only ensure a brighter future for generations to come, but also improve the quality of life for our current population” 18

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OUR BUSINESS PROCESS SERVICES health and welfare service delivery, including maximising the value-for-money. All while adopting new technologies, such as, IBM Watson and SAP platforms.

For example, as a major department embarked on its large process-led SAP transformation programmes, Sumit established relevant governance mechanisms, designed processes, identified the key customer-outcomes, and assisted the Department embrace industry better practices to achieve its goals. Thanks to his BPM and Lean Six Sigma background, his approach is guided by value-for-money, highest quality and efficient, outcomes.

RSM is confident that the Commonwealth is on the right track in implementing business processes in digital Government operations that are second only to the United Kingdom.

“The Australian government must be praised for its active efforts in developing digital-governance as that will not only ensure a brighter future for generations to come, but also improve the quality of life for our current population,” Sumit outlined.

To discuss an of these concepts in relation to your organisation, please contact RSM on 02 6217 0329.

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• Business Process Improvement Continuously improve efficiency, effectiveness and customer outcomes through this measurefirst approach based on Lean Six Sigma principles.

• Business Process Management Utilising SAI® (Solution as Intended) for business process models led ICT implementation design, simulation, configuration and maintenance.

• Data & Analytics Evidence-based and pro-active, real-time decision making through Business Intelligence and Business Analytics technologies.

• Customer Experience Management Market-segment analysis and customer-outcomes focused.

Customer journeys are instrumental in articulating and aligning the customer needs.

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About Dr Robert Holmes Robert leads our People and Change practise. He’s passionate about people and an expert in understanding human behaviour. That may seem strange for a person with an accounting, audit and economics background but as it turns out, his heart and career led in the direction of executive coaching and consulting. The People and Change team are equally passionate about helping leaders and organisations execute change and growth well. They do so by integrating a research backed, evidence based approach to their clients’ requirements. This isn’t just lip service, among his other duties. Rob serves at the Neurocoaching Institute as a Research Fellow on the Frontline Mind project for performance under pressure. He is completing a PhD exploring the neuropsychology of stress and resilience, particularly PTSD among returned soldiers. This journey has resulted in being the Secretariat for the Interdepartmental Forum on Mental Health. Rob wants to see this area given as much attention and focus as physical health.

“The People and Change team are equally passionate about helping leaders and organisations execute change and growth well” About Liesel Meinecke Liesel joined the RSM team in the Canberra office in 2015 and has 12 years’ experience of providing financial and cost management advice with an IT flavour to both public and private sector clients. She is known for being a pragmatic, results-focused project manager who is able to translate jargon and impact of the technology changes into simple, compelling business language that her clients can understand and embrace, often using the concept of “tell-the-story-on-a-page” to get people on-board for the journey. Having lived in six countries and worked across four continents, she brings with her a wide range of consulting experiences from different countries and industries (including automotive, telecom, packaging, health and education) along with 10 years local experience with the public sector here in Canberra.

Originally trained in the UK as an management accountant, this coupled with her interest in technology and large system implementation has seen her gravitate to the area of IT financial management, service costing and IT enabled business change. Liesel also has extensive experience in the area of grants reform in the public sector.

“she brings with her a wide range of consulting experiences from different countries and industries (including automotive, telecom, packaging, health and education) along with 10 years local experience with the public sector here in Canberra” About Sumit Bhandari Sumit is a leading management consultant with a deep expertise in the areas of strategy & policy, business process management (BPM) and ICT transformation. Sumit relocated from Sydney five years ago to make Canberra home and has since contributed to some key public health and welfare initiatives. With solid academic credentials – Computer Engineering & MBA, and expertise with industry leading technologies and methodologies, Sumit has carved a very relevant profile for the major transformations currently underway in Commonwealth Departments. In the past, he has worked with two of the big-4 accounting firms, patented two inventions at Canon Australia, and led BPM consulting practice at one of the major software solutions providers. RSM has been a natural fit for his active thought leadership, progressive thinking and people-led operating style.

“Sumit relocated from Sydney five years ago to make Canberra home and has since contributed to some key public health and welfare initiatives”

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Pink Frosting is the icing on the cake …

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hat a difference twelve months can make in a lifecycle of a business. That’s exactly what Pink Frosting’s CEO, Louise Curtis is saying about the business she acquired in August of 2015.

Pink Frosting, a party and wedding supply business, established in Canberra in 2005, quickly grew to amazing heights and was twice listed in BRW’s Fast Lists for turnover growth.

“Beyond the surface though, the business was failing, with a raft of unhappy customers, terrible reviews and considerable losses,” Louise explained.

There were two things that attracted Curtis to the business, the first being the business’ extraordinary online following and the size of the site (with over 40,000 products) and the second being the Company’s huge social media following. Those two things, with the existing turnover in mind, presented a case which was too good to refuse, so Curtis, with a team of other Canberra investors, took on the business.

“Buying a Company which is in significant distress, comes with a large commercial risk, but I was confident that with a change of direction in terms of suppliers, exploitation Louise Curtis, CEO of the existing online following and focus on the ‘personalisation’ of party goods, the business had a positive future,” Louise outlined.

Following the acquisition, a few very hard months followed whilst the new owners found some ‘nasties’ which needed to be resolved.

Sadly, the business would need to retrench half its staff in order to scale back the operation and bring the business back to basics. In addition, a complete revamp of the Company’s offerings and reduction of stock, would see the business only offer around 17,000 products.

The Company now sources all its products direct from China (rather than from wholesalers around the World), and only sells

www.pinkfrosting.com.au

Pink Frosting Events is already hitting its straps, with the business’ ability to personalise corporate functions through the business’ full print operation and a wide variety of supplies, centrepieces, linen, and personalised sweets.

“Pink Frosting’s Candy Bars are the talk of the town and the business is struggling to keep up with demand for these beautiful creations,” Louise said proudly.

Personalisation of gifts and favours where businesses can order small runs of printed corporate style gifts and promotional products has seen an increase in print production of 400%.

The Company is offering corporate customers the ability to style their events, at reasonable prices.

“I believe there is a huge growth opportunity in this market and we now employ two stylists to work with our corporate clients,” Louise said.

Curtis’ ability to source products through her existing relationships in China has certainly given the business the edge it needed.

“The first twelve months of ownership have been anything but smooth, but I’m excited about the future of the business and am loving being part of the event and party business,” Louise concluded.

“Pink Frosting’s Candy Bars are the talk of the town and the business is struggling to keep up with demand for these beautiful creations” products it holds in its warehouse. Currently, the business dispatches 100 parcels per day. A strong and happy customer base, supported by excellent customer service has stopped the wave of negativity which had surrounded the business. The foundations are strong for a prosperous future and there are plans to re-open its Fyshwick showroom in the near future. The Company has employed six new staff in the last three months.

Beyond the online presence, Curtis and her team have been focused on building two other sidelines to the business, Pink Frosting Digital and Pink Frosting Events. Pink Frosting Digital has seen the Company partner with their web designers to build a new site which will be launched in coming months. The new site will provide a Wedding and Party Supply Directory and give partners advertising opportunities.

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www.pinkfrosting.com.au info@pinkfrosting.com.au 02 5100 7567

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Photo: Tim Benson

My Adelina: A cleaning service that gives you back your freedom to live life to the fullest

By Tim Benson Beth, the owner of My Adelina Cleaning Services, migrated from the Philippines to Australia with her four children in 1995.

Her first husband had passed away and Beth wanted to do the best for her children.

“I brought my children to Australia for a good life and a better education,” Beth explained. eth first moved to Albury to be close to her sister.

As a non-smoker and in reasonable health, Beth had emergency coronary heart by-pass surgery in 1995 and discovered she had 80% blockage of her main artery.

In 1997 she moved to Canberra to provide better educational opportunities for her children and a larger community to interact with.

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Even though Beth had a degree from the Philippines in teaching and midwifery, in a scenario all too common for migrants, she couldn’t find work.

“When I was still recovering from my heart surgery, I did a course at CIT in Business Office Administration,” Beth said.

The CIT suggested to Beth that if she did voluntary work, she might gain work through references.

Beth did voluntary work for the United Nations for over two years and then at the ACT Volunteering Centre. At the same time, she tried to look for a paid work related to her overseas qualifications.

The ACT Volunteering Centre placed Beth with the Motor Neuron Diseas Association “They told me that if I worked there for three months they would pay me!” Beth laughed, "I worked with them, I think for six months, I did not receive my wages because

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they told me they can only pay the rent."

The contact at Motor Neuron Disease Association was Tony Murdoch (now Beth’s husband).

Shortly after Beth started, Tony went overseas for a trip around Japan.

“When Tony left the organisation I didn’t have much to do so, in 1998, I enrolled at CIT and did a Business Office Administration Certificate 111 Course,” Beth stated.

Even though I was recuperating from my heart surgery, I was determined to look for a paid job in relation to my overseas qualifications, and because my Disability Pension was not enough to live on.

By 1999 Tony and Beth were a couple. A friend of Beth’s sister had moved to Canberra and was working in a hotel. Beth got a referral for an interview.

“The manager took me on and assigned me to someone to help me to become

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"Our objective is to clean for people so they have the time to spend on things they like to do and with the people they love." a ‘room attendant’ - I thought this was a ‘meeter and greeter’ – instead, I had experienced it was cleaning rooms, making beds, cleaning toilets and bathrooms with only 30 minutes to complete each room. It was indeed hard work,” Beth explained.

Beth worked at the Brassy Hotel and the Hotel Kurrajong.

After a while, Beth started cleaning homes through an agency.

“I got a few jobs as clients were asking for me directly through the owner of the business,” Beth said proudly.

Because Beth doesn’t drive Tony would drive and assist her.

“This is how Tony learned how to clean.

Tony and I both don’t like cleaning - but we found out later we are very good at it,” Beth mused.

“I thought I can do this by myself and earn more than $11 an hour.”

So in 2004 Tony put fliers on community notice boards in shopping centres stating: ‘Wanted: Houses and Offices to clean’.

“I started working for myself. I found it more relaxing with no pressure not working for someone else. I was happy because it helped me to supplement my Disability Pension and pay for my medical expenses.”

Beth decided to do a course in cleaning.

The course convener said she didn’t need to do the course but that she should register her business.

As my husband advised, “I wrote down lots of business names I could think of on a piece of paper. Then, I decided to Google search these names but they were all taken.

So, finally, I decided on ‘Adelina’, the name of a suburb where I used to live in the Philippines.

"Unfortunately, ‘Adelina’ was already taken by a winery in Margaret River, so they settled on 'My Adelina Cleaning Services’."

Beth registered ‘My Adelina Cleaning Services’ in 2009 as a sole trader. In 2011 they became a partnership.

In 2010 Beth and Tony took on some staff when they went to the Philippines for four months when Beth’s mother passed away.

Beth says that many of her clients are very loyal.

“We have many clients that have been with us before we registered the business,” Beth stated.

My Adelina Cleaning Services provides a range of services, including cleaning: offices,

end of lease properties and private homes.

“We are very good at cleaning. If you invite us to your premises, we can determine it's condition and the level of cleaning required.

We do a comprehensive honest assessment of each premises,” Beth explained.

My Adelina Cleaning Services use vinegar, bicarb soda, essential oils and microfiber cloths and mops for cleaning their client's premises.

“We clean thoroughly because we are concerned about our clients' health, their cleaning needs and the joy of coming home to a fresh and clean environment. Cleaning with natural products assist in reducing allergies,” Beth said.

Beth says every residence has a different level of cleaning required and this is why we quote by the job not the hour.

We like to build long term relationships with our customers. “We emphasise and encourage open communication, because communication can make or break the relationship between a cleaner and client," Beth outlined.

"Our objective is to clean for people so they have the time to spend on things they like to do and with the people they love."

Beth and Tony are intent on growing their cleaning business and expanding to the South side of Canberra if they have enough staff.

"Also, one day we can pass the business to one of the members of the family," Beth said.

Photo: Tim Benson

Beth is grateful for the support she received from Lighthouse Business innovation Centre when she started the business and was rewarded for her hard work when My Adelina Cleaning Services were a finalist in the Clean and Green Category in the ACT Canberra Business Point Awards in 2011.

Beth and Tony would also like to thank their clients, staff and the community for their cleaning referrals.

So what is My Adelina Cleaning Services’ secret for success?

“I think the secret to success is being trustworthy, reliable, thorough, following client's instructions, having open communication and exceeding client’s expectations.

“Our clients end up saving money and having the freedom to spend more time with family or doing the things they enjoy,” Beth concluded.

PO Box 7015 Kaleen ACT 2617 P: 02 6241 3914 1300 791 490 M: 0404 760 654 W: www.myadelina.com.au E: service@myadelina.com.au

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COVER STORY

Envisioning your financial life

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uke Smith is a financial adviser and founded Envision Financial Services, based in Phillip, in 2016.

Our relationship with money has changed. Once upon a time we were paid in cash, spent with cash and if we didn’t have the cash, we didn’t buy it. It was very simple.

And while tap’n’go card transactions make payments easy and fast today, managing your financial life has probably never been more complex with rules around investment, superannuation and tax a journey too difficult for many Australians to contemplate.

He’s been working in the financial services industry since 2000 and has been providing advice to clients since 2004. In 2012 he was named Risk Adviser of the Year by his licensee, Financial Services Partners, a national financial planning group.

Not all financial planners are the same. Luke is the kind of adviser that likes to make sure his clients know that, despite the complexity, they have, real and actionable, options to help them make the most of their financial opportunities. That idea, in fact, is the base for him starting Envision.

“I hate to waste anything. Waste is frustrating, be it a waste of time, effort, money or opportunity. It’s not until you find out after the event that you either regret your decision, you wish you had done it another way or find that there was a lower cost or more appropriate option. But how do you find out? It’s through seeking financial advice,” said Luke.

From experience, Luke has found that when you help clients talk about their financial goals every day, you see re-occurring themes that present themselves time and time again.

“Time and time again I find it starts with people’s expectations – they put 24

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themselves into a box, limiting their thinking about what they can and can’t do. Without understanding their options, they don’t make the most of their options,” explained Luke.

Here are Envision Financial Services five most common tips and traps around people’s relationships with money: 1. Feeling smart enough to go it alone – you make a big financial decision by yourself and it turns out to be the wrong one. It not only takes a financial cost but is personally frustrating.

2. Deciding who makes the decision – if you’re in a relationship or are married, one partner may take on managing the finances.

Without setting out your goals together, in my experience, you never both end up where you want to be.

3. Now versus later – increasingly we live in

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a world of instant gratification.

Sometimes it’s better to make a decision now – like setting a retirement goal – the more time you have on your side the better.

4. Holding no regrets - just about everything we do in life has a financial consequence.

It could be painting, installing a new kitchen, buying a car or taking an overseas holiday.

Because money isn’t the main goal, people fall into the trap of making decisions by default, not design. This sometimes results in regret because they didn’t think about the bigger picture.

5. No decision is still a decision – not making a decision about your financial life is still a decision, it’s a decision to not set your goals and plan for your future.

Envision Financial Services is based on referrals and relationships.

“Our clients refer a person they know to us because we have done something for them that has represented value in helping them envision their financial life. It may not even be monetary; it could resolve a problem, provide information, identify their options or remove the dreaded ‘I told you so’ moment from a relationship. This way one person is not blamed for something that happens. We value the referrals we get because someone is willing to put their own reputation out there to share ours. We think a referral is the greatest compliment we can get,” Luke said.

Envision Financial Services is created on four values that are shared on their website

“Time and time again I find that it starts with people’s expectations – they put themselves into a box, limiting their thinking about what they can and can’t do.

Without understanding their options, they don’t make the most of their options”

Photo: Kasra Yousefi - illustration: freepick.com

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COVER STORY

“Our clients refer a person they know to us because we have done something for them that has represented value in helping them envision their financial life. It may not even be monetary”

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their objectives.

“Something we say on a regular basis in meetings is ‘you don’t know what you don’t know’, and it applies in most client situations.

It’s only when someone points out what you don’t have, or an option you are missing, that you then take action to make a change.

We also work closely with a range of other businesses to be able to remove worry and concern for our clients. This, in turn, should result in piece-of-mind. If we can help them with something else by putting them in touch with a third party, that’s part of our role,” Luke stated.

As a Self-Managed Superannuation Fund specialist, Luke is able to offer clients a range of superannuation options specific to their situation.

“A superannuation fund is a lot like a car in many ways; you don’t need a Ferrari to deliver bread. Just because your friend has a specific fund, does not mean that it may be right for you. We can help you make that decision,” Luke said.

With the changes in legislation that were proposed in the last Federal Budget, it is getting more and more important to start early as the Government make it harder and harder to get money into structures such as superannuation. Luke finds that taking a greater interest in your superannuation at a younger age allows you the opportunity to benefit from the old adage of ‘time in the market not timing the market’.

Protecting individuals and their businesses is a key part of Envision Financial Services offering.

“We work with both parties to ensure their ability to achieve their financial objectives aren’t hindered by events they can't control. Personal protection, as well as business cover, are as important as superannuation, business growth and savings plans. They are all related as they are tied to the individual at some point. We offer a range of risk protection

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Financial advice should be easy to understand.

You should never make a financial decision based on information you don’t understand.

illustration: freepick.com

– ‘Easy to understand’, ‘Reliable’, ‘Accessible’ and ‘Convenient’.

“I chose these four values because they represented to me what I believe good advice should be. Financial advice should be easy to understand. You should never make a financial decision based on information you don’t understand. To me being reliable means we deliver trusted advice to help clients reach their specific goals. Being accessible and convenient is about being available to clients. If a client wants to talk to us we should be available – we even keep some after hours appointments open because we know sometimes it’s the only time people can meet with us because life is so busy,” Luke explained.

Luke also believes in making the most of what technology has to offer.

“We try and make things as simple as possible and have embraced technology in an attempt to streamline our service offering and make the most out of the time that we have with our clients. If I can save people the commute to our office during the day, that’s great. In this day-and-age we all have smartphones, tablets and access to the internet that can all work in our favour for things other than playing Angry Birds or Pokémon, so let’s use them! Let’s have them work for us so that we can get the most out of the time we have. I am not saying that we don’t have to get together face-to-face, we do, and it will remain the cornerstone of any partnership. But, like most things, it has its time and place. We have clients in their 70s that Skype us more than they call us which is great,” Luke shared.

Envision Financial Services offers more than just financial advice. As a holistic firm, they aim to ensure that clients have all of their financial and planning matters addressed.

This could be putting them in touch with other professionals, from accountants to lawyers, depending on what they already have and what they need. Envision have a network of businesses that form part of their team to ensure clients are able to achieve

COVER STORY

Luke Smith, founder and Barbara Eddowes, client relation manager, Envision Financial Services

Photo: Kasra Yousefi

“I hate to waste anything. Waste is frustrating, be it a waste of time, effort, money or opportunity.

It’s not until you find out after the event that you either regret your decision, you wish you had done it another way or find that there was a lower cost or more appropriate option. But how do you find out? It’s through seeking financial advice” options and are able to use a wide range of risk providers to ensure that we can place the right person with the correct provider.

Buy ,Sell and Key Man cover for business owners or income protection and Trauma cover for individuals. Everyone has different needs and it’s about finding out what’s most important, that allows us to structure the cover correctly,” Luke said.

Envision Financial Services offers financial planning advice on superannuation and self-managed superannuation, investments, retirement, personal insurance and business insurance.

Luke finds that many of his clients already

know what they want to achieve and have some ideas about how they can achieve it.

“At Envision, our role is to work with our clients to get them to identify potential roadblocks and help them explore their options when putting in place near and long term strategies. As the tagline on our website says ‘Let the future be yours’; we want that for our clients,” Luke concluded.

Ph: 02 62604749 Mobile 0413311999 Skype: lukesmithoffice PO Box 60 Dickson, ACT 2602 Suite 2, Level 1 44-52 Townshend St Phillip ACT 2606 B2B M AGA Z I N E.CO M . AU

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ADVICE ACCOUNTING

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SMEs eye the ABCs of SMSFs in retirement

BOOKKEEPING

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Bookkeeping 50:50 - why customer service is as equally important as your accounting knowledge?

BUSINESS LAW

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Beware the hidden dangers of franchising

by Michael O’Hehir, RSM

by Harry Hoang, Tailored Accounts

by Mark Love, Bradley Allen Love Lawyers

BUSINESS SUSTAINABILITY 30

Benefits of solar for business

CASH FLOW SOLUTIONS

31

Good invoice finance

CYBER SECURITY

31

Adversary Simulation - proactive security to the next level

by the Actsmart team, Actsmart business recycling. energy. water.

by Jane Lombard, Fifo Capital

by Stephane Millot, Cordelta

INSOLVENCY 32

ATO warns off ‘dodgy’ pre-insolvency advisors

INTELLECTUAL PROPERTY 32

International Protection of Trade Marks

RECRUITMENT

33

Counter offers fail to entice

STRATA MANAGEMENT

33

The great divide

WEBSITES

34

7 reasons why your website is not converting

by Tony Lane, Vincents Chartered Accountants

by Shaun Creighton, Moulis Legal

by Jim Roy, Hays Recruitment Experts Worldwide

by Chris Miller, Vantage Strata

by Sam Gupta, Synapse Worldwide

ACCOUNTING

BOOKKEEPING

by Harry Hoang

by Michael O’Hehir

SMEs eye the ABCs of SMSFs in retirement Much of the whopping 25 percent jump in the uptake of bank debt recorded within our thinkBIG survey 2016, may be attributed to an increasing number of SME’s buying their own premises.

Having picked up on the rare opportunity of ‘owner-occupying’ being a cheaper option than leasing, more SMEs now favour buying office space in the name of their self-managed super funds (SMSF) and leasing back to their business.

What’s driving SME appetite for office space are both historically low interest rates where money is cheap, and reduced concessional superannuation caps as more people attempt to shift funds into the lower taxing superannuation environment.

Cost benefits of ownership versus leasing premises aside, the prospect of higher rental yields and stronger capital gains (as demand intensifies) is also making office space a more affordable alternative to a declining residential property market within most Australian capital cities, with provisions governing SMSFs helping to facilitate this outcome.

Having picked up on the rare Interestingly, 40 percent of SMEs within thinkBIG 2016 (up opportunity of ‘owner-occupying’ from 35 percent last year) are open to potentially using superannuation being a cheaper option than for their business. Attractive lease-back arrangements available leasing, more SMEs now favour to SMSFs could help explain buying office space in the name why a third of SMEs ranked their satisfaction with superannuation of their self-managed super provisions so highly. funds (SMSF) and leasing It could indicate growing realisation among business owners back to their business. that superannuation is an effective way to either fund growth or purchase business premises with minimum risk.

For SME owners planning an exit strategy there is the ability for significant amounts from the sale of a small business to go into superannuation, utilising the non-concessional and small business capital gains tax concession limits.

It’s important that SME owners, 38 percent of who state they’ll need over $100,000 annually retirement, make the most of their superannuation options.

The limit of $500,000 in after-tax contributions proposed within Federal Budget 2016-17 means some people won’t be able to contribute as much to their superannuation as they might like.

Before the federal budget, the standard cap on non-concessional or after-tax super contributions was $180,000, although it was possible to bring forward up to three years’ worth of contributions to a total of $540,000.

Some individuals may also be able to receive a double tax deduction for contributions to their SMSF during the month of June if they adopt what’s called a ‘reserving strategy’.

To download a copy of RSM’s full thinkBIG 2016 report, head to rsm.com.au/thinkBIG.

For further information around any of these strategies, please contact Michael O’Hehir, Principal at RSM Australia, on michael.o’hehir@rsm.com.au or call 02 6217 0316.

Bookkeeping 50:50 - why customer service is as equally important as your accounting knowledge?

I could not stress enough how important Customer Service is to the success of bookkeeping business. Once, a young graduate staff asked me: “why did our client stay with us for years?” Up until then, I thought that accounting industry is competitive. A slight reduction in the fee of the competitor could make us lose a client.

I explained to him that our bookkeeping & management accounting services are quite distinctive from services offered by specialised Tax or Auditing firms. In my experience, there are three reasons to explain why Customer Service could account for 50% of your success.

1. Customer expectations are rising faster. We are dealing with hundred issues per year that are very sensitive & time consuming. For example, we provide payroll services for our IT client who has around 30 staffs.

We have to make sure that all payrolls should be done each week by 12.00pm so the payments can be ready for their manager to review & approve before bank cut-off time, which is at 4.00pm. If our staffs miss a pay, then the damage will be out of our control! I often say that you could make mistake somewhere else but certainly not in payroll. At Tailored Accounts, we process payroll for around 1,200 employees in Canberra & other state!

2. Large volume of transaction & information to process mean more room for mistake. If we take one of our medium size customer who got around 3 business accounts & 2 credit cards. Each month our staffs are dealing with around 500 transactions or 6,000 transactions per year. If our staffs make one coding mistake per month or 12 per year, then that equals 0.2% of total transactions per year! Customer would be really upset! In science, 1-5% error is normal; in engineering, 5-7% is within tolerance level; in building & construction, my house foundation could be built within 10% deviated from the plan. However, in bookkeeping & management accounting, 0.2% error would make you lose a client!

3. Regardless of our customer backgrounds, the most common issue is that they are time-poor. They often do not keep enough evidence or supporting documents to provide us. They do not have time to answer our queries, either. It often leads us to a much riskier business comparing with other accounting firms.

Our business is built on 50% strong technical accounting knowledge and 50% great customer experience. That is the main reason why we could retain our customers!

Customer Service is a business itself. Most accountants understand the science of “Debit/Credit”, tax, payroll, and the list goes on. But it does not fully derive your success. At Tailored Accounts, we see our clients in a regular basis. It enables our team to build a strong and close relationship with our clients. Now it is your turn. Why aren’t you calling your client today and arrange a quick catch-up?

Harry Hoang is CEO of Tailored Accounts "The Accounts Department of Small and Medium Business" www.tailoredaccounts.com.au

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BUSINESS LAW

BUSINESS SUSTAINABILITY

by Mark Love

Beware the hidden dangers of franchising

Benefits of solar for business

When starting a new business, a franchise can be an attractive prospect.

Entrepreneurs often find the promise of a well-established brand, bankable goodwill and the guiding hand of the franchisor too good to resist, a seemingly safe alternative to starting your own venture from scratch. Success stories, neatly captured on the franchisor’s website, might well convince you that a franchise is basically a licence to print money. Experience, however, tells us that such benefits often come with strings attached and many new franchisees are unpleasantly surprised by the hidden costs and You may run the business controls inherent to a franchise.

When investigating a franchise, you’ll but the franchisor owns the be given an extensive disclosure document brand and usually has step-in- detailing information relevant to the business, its operation, costs and your rights to take control of the obligations. These costs and obligations can include franchise entry, licence and support business should you breach fees, royalties and obligations to maintain the brand and apply your “best efforts” the franchise agreement to the business. Such conditions are often considered “standard” but they are by no means the limit. For example, the franchisor may carry out their own national advertising, but you’ll be obliged to contribute to their marketing costs (often in addition to your own local advertising expenses). If the franchisor revamps the brand or its standard equipment, you may have to rebadge your business and upgrade your machines, all from your own pocket.

You also need to consider that you are not necessarily your own boss. You may run the business but the franchisor owns the brand and usually has step-in-rights to take control of the business should you breach the franchise agreement. Consider what degree of control you want, or are prepared to concede, over your business. Franchisors can impose strict limits on your independence, including your ability to introduce new business partners, choosing stock and suppliers, the types of goods or services you deliver, the territory you can trade in and a whole host of other operational requirements.

Franchisees often fail to look ahead to the end of the franchise relationship, particularly where they want to leave early. Payment of a “transfer” or “termination” fee is a common prerequisite to release. If your franchisor holds the lease for your premises, they may pass on the costs of early termination.

Franchises can be a fantastic business opportunity, complete with the marketing support and buying power of a larger group, but don’t mistake it for the easy option. Do your research and read the franchise agreement carefully to make sure you understand the hidden costs and controls that come with running a franchise. Get on top of these issues before you sign and you’ll be in a much better position to turn your franchise into another success story.

Mark Love, Legal Director, Business Law 9th Floor, Canberra House, 40 Marcus Clarke Street, Canberra ACT 2601 E: mark.love@ballawyers.com.au T: 02 6274 0810 | www.ballawyers.com.au

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by the Actsmart team

No business can afford to toss money out the window, including on electricity. Across the ACT, many businesses are acting smart and going solar. They’ve discovered the benefits of solar and are enjoying the savings.

Let’s start with the facts: 1. Solar photovoltaic (PV) prices are decreasing and becoming increasingly affordable.

2. Solar PV is a proven technology.

3. Electricity costs contribute to your bottom line, so the more energy you save, the more profitable you are.

4. Despite the initial investment in solar, the savings can be significant and payback periods surprisingly short.

But despite these obvious pluses, is solar the right choice for your business?

It may seem complicated to answer this question, but a new and practical guide produced by the ACT Government will help clarify what solar means for your business. The publication Solar PV: a guide for ACT businesses covers a range of topics for your business to consider, including: • the technology and options available • what to consider when choosing a system, including features, maintenance and warranties • what to watch out for when looking for the best supplier/installer • legal and other requirements for installing a commercial system in the ACT • government rebates, incentives and resources.

If you are thinking about solar PV for your business you should also consider this. Through the Next Generation Energy Storage Grants initiative, the ACT Government is supporting the installation of solar battery storage Through the Next Generation in homes and businesses. Battery storage technology lets you save Energy Storage Grants energy from the sun during the day and use it when the financial benefits initiative, the ACT Government to you are maximised—even when the sun isn’t shining. It’s an option is supporting the installation worth exploring.

Investing in solar also helps your of solar battery storage in business be a socially responsible homes and businesses. corporate citizen. You’ll be helping the ACT Government lead the way with its ambitious and legislated renewable energy targets. You’ll be showing your staff, clients and stakeholders your commitment to environmentally sustainable practices.

For more information on solar for your business, visit the Actsmart sustainability hub www.actsmart.act.gov.au.

For more tips, information and resources visit the Actsmart Sustainability Hub (actsmart.act.gov.au) and follow us on: Facebook: Actsmart – Canberra Twitter: @SustainableCBR Contact number:13 22 81 Email: actsmart@act.gov.au Actsmart – helping your business make changes for a sustainable future.

B2B M AGA Z I N E.CO M . AU

CASH FLOW SOLUTIONS

CYBER SECURITY

by Jane Lombard

by Stephane Millot

Adversary Simulation - proactive security to the next level

Good invoice finance Invoice finance is becoming an increasingly popular choice for businesses looking for cash flow solutions. We look at scenarios where invoice finance could provide a smart answer to cash flow needs.

1. If customers take a long time to pay, or are late to pay…

Long and late paying customers can quickly absorb a company’s capital, making it hard to seize new opportunities or even manage day to day costs.

Invoice finance instantly releases funds which would have been tied up in unpaid invoices; allowing businesses to keep moving forward.

2. The bank says ‘Not without real estate security’…

Often business owners do not want to use personal real estate as security against a loan. With invoice finance no real estate security is required – credit is offered based on the value of outstanding invoices.

This allows you to keep their personal assets separate from their business commitments.

3. If a business is new or growing…

When a business is new and/or growing, it can be challenging to meet cash flow requirements and the bank is not always an option. Traditional lending requires a credit history but invoice finance provides working capital based on the health of a business and the value of outstanding invoices. Invoice finance is a great alternative for new and growing businesses where cash flow is a challenge.

4. If cash needs to be available for supplier discounts or early payment bonuses…

For many businesses, including those without credit history, the ability to pay suppliers on time is crucial to their future credit position. In addition, where discounts or early payment bonuses are available, having access to cash and being able to pay punctually can be crucial to the delivery of a healthy margin. Invoice finance can make funds available quickly to ensure suppliers are paid on time.

5. Seasonal demand creates fluctuations in cash flow…

An important trick to making seasonal business successful is having access to cash all year around. Many seasonal businesses manage a credit facility – such as an overdraft. If that facility is not enough, or not available, then invoice finance can be a good solution. It allows businesses to maintain their cash flow during quiet times in order to manage day to day costs and expenses that plan for the busier times.

6. If a business wants to increase their cash flow on a day-to-day basis…

Some companies struggle to keep cash available. These companies may choose to integrate invoice finance into their day to day accounting structure. Invoice finance can be a great tool for improving a company’s liquidity.

Invoice finance can provide a great solution to the cash flow needs of a business, but the fit has to be right for business success. Businesses considering invoice finance should remember that expert advice is key to making an informed choice. They should be able to trust the expertise of both the lender and the company’s accountant or financial support in guiding them forward.

The best solutions will be the ones that secure the long term success of the business.

P 0408 226 841 E jane.lombard@fifocapital.com PO Box 3269, Weston Creek ACT 2611

Organisations are continually investing in protecting and defending against substantial online threats. Significant levels of IT resources are being invested into costly technologies aimed at protecting against these new threats. Unfortunately, many of these investments fail to understand the methods of an external attacker and as a result fail to prevent a system breach. An external attacker has a number of advantages over an organisation including: • Visibility – An organisation does not know when, how and from where an attack may originate and which method will be utilised; and • Resources – Many external threat actors have significant time and resources available allowing them to try multiple methods over a longer period of time.

Despite all of the security Organisations need to be ahead measures implemented by organisations, a threat actor is of external threats by being the often able to identify the weakest first to identify these weak points point in the systems defence and exploit it to achieve their desired objective. Organisations need to be ahead of external threats by being the first to identify these weak points.

Our advice is to take a proactive approach to security by incorporating Adversary Simulation or ‘Red Teaming’ as part of a security program to identify the weakest points within an organisation which an attacker may seek to exploit.

This method involves simulating the approach, mindset and techniques employed by real adversaries. Testing is not limited by a specific scope or a strict deadline and is delivered over a long period of time, typically 4 to 6 months, providing the time necessary to organise and carry out the simulations and to reach the identified objectives. Quality attack simulation involves the setting of objectives based on organisational requirements and objectives and crafting and executing scenarios that are likely to occur in the real world if your organisation is targeted. It should be noted that this approach is not limited to cyber-attacks and can include aspects of social engineering and physical access.

The Cordelta security team can assist you with finding your weakest points and ultimately reducing your risk exposure. Contact us for further details.

Ken Hendrie, Executive Level 1, 72 Dundas Ct T 02 6162 4112 | security@cordelta.com

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31

INSOLVENCY

INTELLECTUAL PROPERTY

by Tony Lane

ATO warns off ‘dodgy’ pre-insolvency advisors

International protection of Trade Marks

As a further step towards combatting illegal phoenix activity, the ATO has sent a clear message to accountants, pre-insolvency advisors and other ‘facilitators’ that they are firmly in the Commissioner’s cross-hairs.

Recently, ATO Assistant Commissioner Scott Parkinson foreshadowed further “access visits” (ATO code for search warrants), aimed squarely at Working hand-in-glove with other the advisory space around company suggesting if the regulators, the ATO seems buoyed ‘re-birthing’; pre-insolvency industry cannot do more to clean itself up voluntarily, by the results of recent search the ATO will. warrants executed in Queensland, Working hand-in-glove with other regulators, the ATO seems as well as ASIC’s success in buoyed by the results of recent search warrants executed in obtaining a conviction against a Queensland, as well as ASIC’s success in obtaining a conviction against a Gold Coast pre-insolvency advisor Gold Coast pre-insolvency advisor who had aided a director to who had aided a director to conceal assets from a liquidator. conceal assets from a liquidator.

But how does pre-insolvency advice interact with the more commonplace situation of advice provided by accountants (and for that matter solicitors) to their clients in respect of business structuring arrangements? Is there potential for exposure?

The Corporations Act 2001 specifically provides for accessorial liability to attach to those persons who are ‘involved’ in a director’s contravention of the Act in respect of specific duties to which company directors are bound.

The relevant section, section 79, draws from the criminal law and establishes four preconditions to a finding of ‘involvement’ against a third party.

However, despite the reasonably expansive language used in section 79 (refer for instance to subsection (c) of that section), the courts have traditionally applied section 79 and other similar legislative provisions, with considerable restraint.

So how in practice might this impact accountants and others, who go about assisting clients with asset protection arrangements, particularly where the question of insolvency is relevant? From a liquidator’s perspective, the statute and case law would appear to support a requirement to give thought to the company’s solvency position before embarking on any potentially questionable transaction.

Where the spectre of insolvency is unavoidable, substantial caution is required. Liquidators come armed with a suite of legislative implements designed to provide a means to ‘reach back’ into a company’s history to restore assets and undo transactions for the benefit of creditors.

The clear policy intent now articulated by both ASIC and the ATO, is to prevent the disposition of assets that might otherwise be available for the payment of creditors (principally employee entitlements). As the most common creditor (and often largest) in SME corporate insolvencies, the ATO obviously has a vested interest in the outcome.

Tony Lane is a Registered and Official Liquidator at Vincents Chartered Accountants.

For more information, contact Vincents on (02) 6274 3402 www.vincents.com.au

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by Shaun Creighton

B2B M AGA Z I N E.CO M . AU

We often meet with clients who are surprised to learn that their registered Australian trade marks do not extend to registered rights in other countries. Like other forms of IP, trade marks are registered on a per country basis.

If wishing to extend protection of your Australian trade mark rights to other countries, do you need to engage lawyers or trade mark attorneys in those specific countries? The answer, like the answer to many legal questions, is “it depends”.

International Applications which we can file from Australia: Australia is a signatory to an international convention called the Madrid Protocol. A single International Application may be filed (from Australia) under the Madrid Protocol nominating any country that is also a signatory to that international instrument.

Such applications act as a bundle of applications filed in the designated countries and, if accepted, International Registration is issued by the International Bureau at the World Intellectual Property Organisation (WIPO). International applications using the Madrid Protocol would be based on the Australian trade mark application(s).

Under a different international convention (the Paris Convention), if an international application is filed in a country which also a signatory to that convention within 6 months of the Australian filing date, the international application will benefit from the Australian filing date (ie it will be deemed as filed on the Australian trade mark filing date, and if it proceeds to registration, be registered from the Australian filing date).

Most countries are signatories to the Paris Convention, but only about half the countries in the world are signatories to the Madrid Protocol. The following are examples of countries that are signatories to the Madrid Protocol: the USA, the European Union, China, Japan, New Zealand.

International Applications where an International Agent is required: If wishing to file a trade mark application in a country that is not a signatory to the Madrid Protocol, then a local lawyer / trade mark attorney will usually need to be instructed. We have a network of international agents we can use to assist in such circumstances.

Avoiding infringement: pre-filing and pre-use searches: Since your Australian trade mark does not provide rights in other jurisdictions, before using a trade mark in another country, it is prudent to first have searches conducted to ensure you can protect your brand in those jurisdictions and that use before registration will not infringe the rights of other parties.

Other international considerations There are a number of other considerations when filing trade marks in other jurisdictions. These include: • Consequences of “first to file” v “first to use” jurisdictional differences • Whether to also file translations and/or transliterations • Controlling use of your IP through suitable agreements The focus of Moulis Legal can be summarised as follows: Commercial + International Our IP & Commercialisation team can assist with securing and commercialising IP rights internationally.

Visit or contact us at W: www.moulislegal.com E: shaun.creighton@moulislegal.com T: 02 6163 1000 or 0430 22 78 62

RECRUITMENT

STRATA MANAGEMENT

by Jim Roy

Counter offers fail to entice

by Chris Miller

The great divide

One of your top performers asks to see you and hands you their resignation letter – what do you do? Many employers are tempted to make a counter offer in the hopes it will retain the employee, but this is rarely a successful strategy.

Even if a resigning employee does accept your counter offer, their original motivation for looking for another job can still remain. After all, people are rarely motivated by money alone.

Thirty-six per cent of the 2,752 organisations surveyed in our recently released Hays Salary Guide, representing over 2.6 million employees, said they ‘sometimes’ counter-offer staff when they resign, while just two per cent always do so. Of those counter-offered, on average 46 per cent left anyway, 4 per cent accepted the counter offer but stayed less than three months and 21 per cent stayed between three and 12 months.

Just 29 per cent stayed longer than 12 months.

Counter-offers take one of many forms, from a straight salary increase to additional company benefits, a promotion or new job title, additional responsibilities, a change in role, more involvement in projects that interest the employee or any combination of these.

In today’s market, where confidence is improving, hiring intentions are increasing and candidate turnover is rising, it’s understandable that employers may attempt to reverse an employee’s decision to leave if they If you still want to have the right skills, cultural fit and are valued. attempt to retain But this employee has applied for and seriously considered other jobs. They’ve an employee who researched other organisations, attended interviews and weighed up their options. Their has resigned, it’s decision to leave was made at some time during important to talk this process when they decided the grass is greener elsewhere. to them honestly If you still want to attempt to retain an employee who has resigned, it’s important to about the reasons talk to them honestly about the reasons they looked for a new role initially. Perhaps it is an they looked for a issue you can solve, such as by offering new new role initially. challenges, getting them involved in certain projects or improving their work-life balance.

If however there is no scope to overcome their issues, any counter offer you make – even if it is at first accepted – is unlikely to retain them long term. In the interests of their career and your engagement and productivity levels it might be best to congratulate them on their new role and move on.

Don’t forget your off boarding process and exit interview to ensure their last few weeks run smoothly and positively and they leave feeling valued for the contribution they made. With candidates turning to social media and online reviews to read the comments of former employees, you want all departing staff to leave with their engagement intact, a smile on their face and a willingness to talk positively about their employment experience.

Over the past couple of years I have delivered a series of education courses through Wisdom Learning on the subject of Strata Management. In addition to a Certificate II course which is delivered over an extended period of many months, we have also provided full day “CPD” courses aimed at real estate professionals who are not directly working in Strata, but who wish to increase their knowledge of the industry.

Most of the courses we run A Strata Manager works on are attended by a large number of Property Managers. One of the salient outcomes from these courses is that behalf of the Owners Corporation Strata Managers do not adequately at the direction of the Executive understand the challenges faced by Property Managers and (at the risk Committee. The decision to grant of ruffling a feather or two), Property or deny a request is seldom a Managers are very much in the dark about the role of a Strata Manager. decision of the Strata Manager There is history of conflict between these two groups of professionals, and I think its time that a ceasefire was agreed.

The two consistent complaints I hear from Property Managers about the Strata Managers they deal with are: 1. They do not return my calls or emails. and; 2. They always deny any requests we make The first point is difficult to address. Ultimately, quality of service is patchy between businesses and individuals. However, the second compliant is often more complicated than it may appear to a Property Manager.

A Strata Manager works on behalf of the Owners Corporation at the direction of the Executive Committee. The decision to grant or deny a request is seldom a decision of the Strata Manager. In most cases, if a Strata Manager denies a request in the first instance, it is because the manager is not in a position to authorise it in the first place. It either requires approval from the committee or the owners, or it is something that is not as straightforward as it sounds.

At the opposite end of the spectrum, I have consistently found that Strata Managers do not have a fundamental understanding of what a Property Managers job entails. Strata Managers can often be heard making a throwaway comment suggesting that a Property Manager “does nothing” to manage the behaviour of a nuisance tenant. From an uninformed point of view, the simple response to a noisy tenant would be to just evict them. Of course any Property Managers reading this will know that such a solution is not readily available to them in such a straightforward manner. Even if the Property Manager wanted to take such action, there is an often complicated and protracted process.

Taking some time to learn a little more about each of our respective roles, including the challenges and obstacles we each face, will go a considerable way towards bridging the gap. I strongly encourage any Property or Strata Managers to attend real estate training that provides some insight into the day-to-day duties of your real estate “cousins” so that we can all better serve our clients.

Jim Roy, Regional Director 5th Floor, 54 Marcus Clarke Street, Canberra T 02 6112 7663 | F 02 6257 6377 | E canberra@hays.com.au

For further information, please contact Chris Miller, Managing Director M 0400 376 208 or 1800 878 728 The Griffin, Corner Giles & Jardine Streets, Kingston PO Box 4259, Kingston ACT 2604.

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WEBSITES

by Sam Gupta

ART AUCTION

7 reasons why your website is not converting

Sam Gupta is the managing director of Synapse Worldwide.

Sam would love to hear your thoughts on this advice column.

Tel: 1300 785 230 Email: admin@synapseworldwide.com Web: www.synapseworldwide.com

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B2B M AGA Z I N E.CO M . AU

CANBERRA MUSEUM + GALLERY

Masked Soirée

Corner London Circuit & Civic Square, Canberra ACT

Saturday 22nd October 2016 6.45pm - 11.00pm P re s e n t e d b y t h e m a s t e r o f a l l t h i n g s c e re m o n i a l

PA U L M c D E R M O T T C A P O PAT R O N

Works by Jan Brown, Robert Foster, Ann McMahon from 2015’s auction

2016 SPECIAL EVENT

Bookings by phone CONTACT MARILYN GRAY 0407 512 296

OnLine Tickets available at

q

The primary purpose for most websites is to convert clicks into customers.

If you are getting heaps of traffic and have difficulty getting qualified leads, go through these basic checks first.

1. Are you talking to the right audience?

If you fail to define your target audience for your website, the visitors may misunderstand your services. You need to connect to your target audience through your words, images and design. Not doing so, will often affect your conversion rate.

2. Do you have clear, attractive and enticing messages?

Often websites that don't convert better, confuse their visitors with too many or not enough messages If your website doesn't look or worst, have clear but really bad good on mobile, it can affect messages. In the first 8 seconds, you need to connect with your visitor and convince them that you can provide your conversion rate. Make what they are looking for. sure your website is responsive 3. Do you have appropriate call to actions? to multiple mobile screen You can have the best looking sizes and looks reasonably site in the world, but if it doesn't have call to actions, how would your good on mobile devices. website convert? Also, don't just link call to action to your contact us page, instead try to have forms on the page itself. Make it really easy for them to get in touch with you.

4. Is your website mobile friendly?

Many of your customers might be looking for you from their mobile or tablet devices. If your website doesn't look good on mobile, it can affect your conversion rate. Make sure your website is responsive to multiple mobile screen sizes and looks reasonably good on mobile devices.

5. Are you explaining things from your customer's perspective?

If you are too technical or use words that are not really used by your customers, you will lose their interest. As simple as it may sound, many people get it wrong. Put yourself in your customer's shoes and read through your web pages.

6. Is your website too text heavy?

Not everyone likes reading text. Most people are visual. Even if you have a great copy, if there is too much text on the website, it can affect your conversion rate. Break your text up in different sections and have a balance of text, images and spacing. Don't make it too crowded also. Keep it clean and simple.

7. Are you qualifying your visitors too much?

Just like over-generalisation causes conversion problem, over qualification will do the same. Not everyone who visits your website will be ready to buy from you in that very visit. If you set the bar too high and only appeal to the hot leads, you will miss-out on customers who are warm leads.

If you are still not sure or require help with online conversion, get in touch with us for a free one-hour review of your website. You will be surprised; how small things can make a difference to your bottom line.

capo.org.au/auctions/auction-tickets/

kasra.com.au -16-2

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A S S O C I AT I O N S T O B U S I N E S S

You only get one first impression: Brand CBR ROBYN HENDRY . CEO . CANBERRA BUSINESS CHAMBER

O

ur senses are a driving force in shaping our imagination, perceptions and desires. A song can revive a childhood memory, a smell might make us crave a certain food, and an image can help us create a vision of a place we love or would love to visit.

Research tells us people better remember what they see than what they hear or read.

This reality is part of the philosophy behind the creation of brands and associated logos.

A strong brand will subtly and instantly convey a message to an audience. There will be an association made – good or bad – to a brand. For example, if someone said to you right now Which Bank?, Finger-Lickin’ Good, or Jobs and Growth, it would likely create a feeling, a view, a picture in your mind.

When done well, the feeling attached to a brand will be exceptionally and uniformly positive.

Canberra Business Chamber and the ACT Government have banded together to develop Brand CBR; a powerful brand to promote Canberra as a vibrant place to live, work, visit, learn and invest. Our region is one of ‘Brilliant Possibilities’ and this lies at the heart of Brand CBR. The Brand CBR program is all about helping people and businesses better understand and connect with Canberra. It provides a consistent platform to tell our unique story in order to increase national and 36

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global awareness of the Canberra Region.

Today first impressions count more than ever – and they are often made from a distance. People may judge a city or destination before they even step foot there thanks to the internet and social media making information more readily available than ever before.

Considering the growing competition between cities around the world for talent, investors, visitors and students, Canberra needs an excellent first impression.

The idea of Brand CBR is to share our positive reputation and differentiate Canberra from other cities and regions.

The goal is to tell people what is special about our region and have these instantly come to mind whenever anyone mentions the Australian capital.

Developing a strong brand for Canberra makes good business sense. If we attract more people, spending and investment to our region, it means more skills, more jobs, more services, more prosperity and a better way of life.

We all have an important role in sharing with others all the Canberra Region has to offer. The CBR Brand helps us to each find an individual way to promote the ACT, but to do it in a cohesive way.

There are a variety of ways in which businesses can fly the Brand CBR flag. You can use the logo in your own marketing, share stories about your experiences here in the ACT using the hashtags #WEARECBR and #CBR, and make CBR part of your organisation’s language.

A Business Partnership Guide has been developed to help local businesses learn more about the many ways they can highlight Brand CBR and utilise it to promote their own business to a wider audience.

Being located in the ACT can be a significant selling point. The Canberra Region has many strengths that make it an incubator for excellent goods and services as well as an attractive place to invest, visit and do business.

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However, while businesses often have a great pitch about what they can offer a potential customer, they may be faced with limited knowledge about Canberra. For some potential customers, this lack of understanding could impact on their decision to purchase a good or service from an ACT-based business.

The Brand Canberra Program has a number of assets that can help you explain all the Canberra Region has to offer.

In particular, it has a beautifully edited booklet full of gorgeous photos of our region and a summary of important facts about the ACT’s economy, population, easy access to markets, and business and investment opportunities. It highlights the ACT’s status as the capital of Australia and home to its Parliament and many national institutions. The booklet focuses on the region’s reputation as a knowledge hub, its outstanding education system, and culture of innovation and R&D. Badges and lanyards are also available to people travelling to tradeshows, conferences or on business trips so they can show their pride in Canberra and the region.

A new video has just been released to showcase Canberra as a premier business event destination. You can find a link to this video at www.canberrabusiness.com/ business-support-programs/brand-cbr. The more widely this is circulated, potentially more business visitors will come to our region and enjoy our great hospitality, dining and shopping as well as be more inclined to do business with us in the future.

These assets are designed to help people promote their own business, our city and region and the CBR brand.

To learn more about Brand CBR, contact Debra Surman, Program Manager Brand CBR at debra.surman@canberrabusiness.com.

Contact the Canberra Business Chamber Team: Phone: 02 6247 4199 Email: info@canberrabusiness.com Web: www.canberrabusiness.com

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Scarlett Financial has specialist Wealth Management and Finance Consultants that work collaboratively on wealth accumulation strategies.

It is very common that when I first meet someone I find that their investment plan entails accumulating cash in an internet saver account. This is unfortunately due to our busy lives and not knowing where to turn for professional advice. At Scarlett Financial we harness the power of compounding interest “nothing can beat the benefits of time working for your money”. Working closely with our Finance Consultants we may often leverage these returns over the long term to maximise growth and ultimately our clients financial position.

I work closely on with our wealth consultants to by proving finance solutions to help client’s maximise and leverage their position and wealth.

I focus on reviewing a client’s debt position and review against their future goals to ensure their debt is structured in a way they can pay off their ‘bad debt’ sooner while borrowing the right amount to maximise their investments.

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G2B

CHIEF MINISTER’S MESSAGE

UN gives ACT top marks for ethical investment ANDREW BARR CHIEF MINISTER | TREASURER | MINISTER FOR URBAN RENEWAL | MINISTER FOR TOURISM AND EVENTS

T

he ACT Government has received a performance rating of ‘A’ for responsible investment practices from the world's leading proponent of responsible investment.

Backed by the United Nations, Principles for Responsible Investment (UNPRI) supports investments that are environmentally and socially responsible and have strong corporate governance.

This strong result reflects the government’s commitment to responsible and measured investment and shows that we are in line with global best practice. It also demonstrates that good governments like the ACT can meet the highest ethical standards, while delivering a strong economy and balanced budgets.

The ACT Budget 2016-17 demonstrated that our economy has turned a corner – and we are on a clear path to surplus. Our improved budget position hasn’t been reached by sacking Canberrans or cutting services – it has been through investment in our community and sound management of our finances.

Part of this is making the right investments to ensure we have the capacity to fund our world class schools, that we can offer free healthcare to any Canberrans that requires it, and we remain the world’s most liveable city.

We believe this is what Canberrans would expect: a government that makes investments on their behalf that not only deliver a good return, but also support good corporate governance and environmental sustainability.

We integrate environmental, social and corporate governance considerations in our financial investment framework to better manage risk and generate sustainable, long term returns that ultimately benefit the Canberra community.

The ACT Government has been a signatory to UNPRI since July 2008. The PRI Initiative is an international network of investors working together to integrate environmental, social and corporate governance considerations into investment decision-making practices. There are in excess of 1,500 signatories to the PRI globally, with some US$60 trillion funds under management.

The government’s Responsible Investment policy is available at http://apps.treasury.act.gov.au/publications.

For more information on UNPRI visit www.unpri.org/about.

UN Photo by Paulo Filgueiras 38

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B2B M AGA Z I N E.CO M . AU

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First session: 30 September Please sign up as soon as possible. stateyourbusiness.com.au/masterclass Normal price: $250 / month Introductory price: $197 / month Value: $1000 / month

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For more information visit actsmart.act.gov.au email actsmartbusiness@act.gov.au or call Access Canberra on 13 22 81

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A program to help you focus on business growth through a strategic journey into your business PRACTICAL BUSINESS BUILDING TOOLS

PHOTOGRAPHY: TIM BENSON

Program consists of: • Half a day per month for 10 months of world class business development training • Private Facebook Support Group • Materials available online • Maximum 10 per class Program includes: • The importance of values and vision • Understanding marketing • Strategies to see business growth • DISC personality profile

First session: 30 September Please sign up as soon as possible. stateyourbusiness.com.au/masterclass Normal price: $250 / month Introductory price: $197 / month Value: $1000 / month

David Campbell - Leading Dimensions Profile Certified, John Maxwell Certified Coach Business & Executive Coaching and Training M: +61 413 602 459 E: david@stateyourbusiness.com.au W: www.stateyourbusiness.com.au/masterclass

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