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Improving productivity

Staying productive in the workplace can be challenging – whether it’s interruptions from colleagues, unnecessary meetings or simply distractions such as social media, it is hard to stay focused on the task at hand.

Here are three ways to be more productive in your work day:

Take more breaks
Although taking more breaks sounds counterintuitive to productivity; breaks provide time to refresh and therefore can improve performance. Break up long tasks by taking a short break at least every hour or so to maintain concentration.

Reduce time of meetings
Meetings can take up a large part of your work day; stealing many of your most productive hours. Effective meetings usually have a strict end time, only include essential staff members and stick to an agenda. Before organising your next meeting, consider which staff members are necessary (and which can afford not to go) and write up an agenda prior to the meeting.

Break up big tasks into small parts
It can be easy to procrastinate when it comes to a large project, as the prospect of starting the task may seem overwhelming. One way to combat procrastination is to break up the task into smaller, more manageable parts. Breaking up the task helps you to feel more control over your work and can improve your mindset towards the task.

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News

Understanding various kinds of super fees

February 16, 2018

No matter the kind of superfund you opt for, you will be subject to super fees. Understanding how these fees work and the difference they can make to your next egg is vital.

When it comes to superfund fees, there are two factors you need to get your head around; the kinds of fees you are being charged and the rate of fees you pay. Opting for a superfund based on these two factors can see you retire with hundreds of thousands more money.

You should be aware of the various types of fees you are being charged. If you would like to find out the fees you are being charged, you should do two things. Firstly, Google your fund’s product disclosure statement and scroll through to the fees section. You should see a list of different types of fees, with an explanation of what they are, how they are applied, and how often they will be incurred. Secondly, you should log in to your superfund account and take note of all the fees being charged to you. Investigate how closely these correspond and correlate with the product disclosure statement.

If you feel there are discrepancies, do not hesitate to contact your superfund or financial advisor and ask for clarification. It is worthwhile doing your research and comparing the fees you are being charged against other super funds and what they charge. Being complacent and not paying attention to your super is extremely irresponsible; the dividends you will receive later in life for being diligent now outweighs the burden of taking time to be informed today.

Some of the common super fees across the board include:

Another major factor contributing to how much you accumulate in your super account throughout your working life is the rate of fees you pay. Plain and simple, some funds offer much lower fees than other, creating a difference of hundreds of thousands of dollars when it comes time to retire.

Generally, funds are categorised into three groups; low super fees, medium super fees and high super fees. Ultimately, you want to be in a fund that charges low super fees. In saying this, it’s not only about super fees, as some funds have medium-high super fees but also perform better based on investment strategy, meaning you will get more back from your investments.