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Boost employee engagement

Employee engagement is more vital than ever before to a business’s success and competitive advantage.

Workers who are not motivated to work convey a bad impression to customers and are more likely to make mistakes. Employees who are engaged significantly outperform those who are not engaged.

Employees are no longer spending their careers working at one company until their retirement. In today’s business environment employees often have many jobs in their working life. Employees also have greater flexibility on where, when and how they are working, so businesses need to keep their workers motivated and engaged.

It is also more cost-efficient for businesses to retain valuable employees, rather than having to pay the prices associated with recruiting new workers.

There are many factors that can impact an employee’s engagement; however, there are three key drivers. Engagement is affected by the employees:

There are five key areas that managers can focus on daily to encourage employee engagement:

Employees should feel comfortable to express their ideas regardless of their position or role within the organisation.

Managers also need to recognise the important contributions being made by employees and reward those accordingly. Top performers in the business are an invaluable asset in driving a business forward, so it is important that they are given opportunities to excel and are rewarded when they do so.

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News

What to consider when consolidating your super

August 27, 2020

The ATO reported that 45% of working Australians were not aware that they had multiple super accounts in 2016. Having multiple super accounts is particularly common for individuals who have had more than one job. If this is you, it is important to identify and manage your super accounts because having more than one can be costly as a result of account fees from multiple funds.To combat this, you may want to consolidate your super, which moves all your super into one account. Not only does this save on fees, but it also makes your super easier to manage and keep track of.

Before consolidating your super, it is important to do the following:

Research your funds’ policy
Compare your active super accounts so you can make the right choice about which one you should close. Things to assess include:

Check employer contributions
Changing funds may affect how much your employer contributes, as some employers contribute more to certain funds. Check your current accounts to see if changing funds will affect this. Once you have selected a super fund, regardless of whether you choose a new super fund or one of your existing ones, provide your employer with the details they need to pay super into your selected account.

Gather the relevant information
When consolidating your super, you will need to have the following details ready: