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Keeping in touch with old staff members

Many employers will simply lose touch with an old employee once they have left the workplace.

And while individual staff members may stay in touch via social media sites, especially LinkedIn, it is communication from the business itself that will often be left wanting. By sending out alumni newsletters, holding annual events that ex-employees are invited to or just dropping the occasional email you can go a long way in maintaining relationship that may prove valuable down the track.

Ex-employees with whom your business is still on active and amicable terms are valuable assets.

They make up a unique network who can recommend potential future employees to you or might be willing to come back to work for you in the future. Additionally, many of your old staff members will have expertise about your business that can not be found anywhere else, making them an amazing knowledge pool.

Treating old staff members with ongoing respect and attention will also improve the image of your company to current staff members, potentially improving your retention rates.

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Transition to retirement

November 25, 2020

The transition to retirement (TTR) strategy allows you to access some of your super while you continue to work.

You are able to use the TTR strategy if you are aged 55 to 60. You can use it to supplement your income if you reduce your work hours or boost your super and save on tax while you keep working full time.

TTR can help ease your mind as you transition into retirement but it can be a bit complex. Before you choose whether you want to use TTR to reduce work hours or save on tax, or even if you want to use TTR altogether, you should figure out how this will impact all aspects of your finances.