7 astute steps to successful cash flow management collaboration by an expert!

Cash is King! Having an accurate measure of your company’s cash is always critical, now more than ever. Here at Astute, as part of a new series of articles, we are sharing 7 simple steps to guide you, in collaboration with a fully qualified accountant and expert in providing cash flow advice and more to SME businesses and larger organisations.

David Thorley is an experienced, fully qualified Finance Director with a proven career in managing the financial tillers of several businesses. Together, we wanted to share his 7 steps to achieve successful cash flow management.

Over to David….

“We need a 13-week cash flow!

An all too familiar phrase that I have heard over the years from banks and finance providers and in these uncertain times an especially challenging request even for experienced number crunchers!

You can, however, meet this challenge using the following simple tips: –

1. Communication with your finance provider is crucial – whatever the reason, DO NOT make promises you know you cannot keep and DEFINITELY DO NOT say it can’t be done!

2. Very few businesses can accurately predict cash flows, but everyone can make an informed forecast.

3. The past may not be an accurate predictor of the future, but it can be an indicator! Summarise the cash flows over the previous 6 – 12 months over key headings and use for forecasting future trends.

4. All forecasting relies heavily on assumptions that identify the key sensitivities (e.g. you could be predicting quarterly rent payments being agreed to be deferred or moved to monthly).

5. Look for seasonal fluctuations in income or expenses – right now this could be forecasting recovery of previous levels of sales over a 3 to 6-month period.

6. It’s not unusual for the balancing number (to keep within the facility), to be payments to creditors and, in times of extreme cash pressure, this is inevitable; but again, communication is vital to avoid going on stop with crucial suppliers.

7. You may need to prepare more than one forecast – based on different assumptions. Again communicate the basis of the chosen forecast when it is shared.

The most important point is to always try to anticipate potential issues. Banks particularly appreciate early warnings especially if it is a potential breach of facility as it indicates a degree of control.”

Great tips so thank you David!

If you need a cash flow expert in your team, call Astute and we would be delighted to assist you.

We will be issuing more articles and tips on a wide range of accountancy, finance, HR and recruitment issues in collaboration with experts in these fields.

If you have found this article informative and helpful, please let Mary Maguire at Astute Recruitment know as feedback is always welcome. Feel free to share this article with others who you feel could find this useful.

#cashflow #CashIsKing #accountancy #finance #financedirector #cfo #financetips #BeAstute

Temporary contact numbers for Astute Recruitment Ltd

Due to a temporary, technical hitch since moving offices, if you need to call us, please call one of our MDs and they will be pleased to assist you.

Mary Maguire: 07717 412 911

Sarah Stevenson: 07966 258 509

As soon as our landline communications are restored, we will let you know!

Furlough. With over 8 million workers furloughed, we wanted to ask employers, “Do your furloughed staff know you still care about them?”

When did you last talk openly with your furloughed employees?

Just a week ago was a Bank Holiday. The next one isn’t until the end of August. Between now and then, millions of workers will have been on furlough for approaching 5 months.

While employers and those still employed face ever-increasing workloads covering their businesses, how are the furloughed feeling?

Mental health week ended just a few weeks ago, but already the news is full of new, pressing economic shocks and doom.

Now, imagine you are a single parent, a breadwinner in your home? A recent graduate. A new homeowner with mortgage bills at the end of every month.

Imagine how they might be feeling on furlough.

Whilst furloughed, staff in the UK cannot contribute to their company’s business financial success, there is nothing to say employers have to neglect these armies of suspended talent whose passion and commitment to start working for your company again remains undimmed.

So, stay connected. Take the time to speak to your furloughed team regularly. Reassure them, be present and mindful of questions they may have. Be personal. Be open to any insecurities they may have. Encourage them to refresh their skills through online courses. Above all, be honest.

The businesses that survive the current situation will be the ones who can trade out of the furlough. With most of their staff refocussed, positive, upskilled, and confident in the knowledge their employer, boss and company are, and have been, 100% behind them.

Those companies will have the essential ingredients for business success in a turbulent economy. Loyalty. Passion, drive, and commitment. Happy, engaged workers are far more productive than staff who feel isolated, forgotten, or neglected.

If you can get that collective belief in your team, they will genuinely want to help the company and help you, return to profit. A motivated team is a successful team!

So, show your furloughed workers you really care about them. They will be worth their weight in gold when the market picks up and you need to retain your trained, talented people.

If you are a furloughed employee who is feeling neglected and insecure, please contact our team at Astute Recruitment Ltd who will be delighted to talk through your concerns and help you.

Our MD – Mary Maguire, is happy to take CVs and distribute them to our team. Simply email your CV with a mobile number and any message to [email protected] and she will be glad to help, advise, and support your career queries.

Mental Health Week Can Your Business Afford to Ignore Mental Health?

We investigate the key impacts, costs, AND savings to companies of mental health at work.

Mental health has increasingly been highlighted as a key factor in business and employee performance, success and productivity.

This year’s Mental Health Week has special importance with the global fight against covid sars 2. Millions of workers, everywhere, across the world have been impacted.

Some working remotely, some furloughed. Some facing redundancy. Some already recently made redundant.

People’s work suroundings and working conditions have been turned upside down in just a few, short months, and whilst efforts to crank up the wheels of industry are in motion, the working landscape is likely to have been changed forever.

Nearly 1 in 7 people, almost 15% suffer some degree of mental health problems at work.

Men in full time employment are half as likely as women to experience mental health problems.

Nearly 13% of all staff absences in the UK can be attributed directly to mental health conditions.

According to research, improvements to mental health frameworks at work could equate to over £8bn in savings for UK businesses alone!

In today’s uncertain ecconomy, business owners, Finance Directors and senior management are more conscious than ever to seek good returns on investment and save money and more importantly improve staff engagement, morale and resilience.

What better way than to invest in staff?

But what are the cost benefits? How can this improve my balance sheet and company performance?

According to The Mental Health Foundation, workplace interventions including employee screening and care management strategies for those living with (or at risk of) depression was estimated to cost £30.90 per employee for assessment, and a further £240.00 for the use of CBT to manage the problem, way back in 2009 alone.

An economic model conducted in a company of 500 employees where two thirds are offered and accept the treatment, an investment of £20,676 will result in a net profit of approximately £83,278 over a two year period.

So, how can employers, HR teams, business leaders put in place policies to effectively improve employee wellbeing and mental health in their workforce?

Make it personal.

Employ personalised, tailored information for staff

Create bespoke advice specific to your staff, your business and working environment

Create risk assessment questionaires

Encourage staff to watch online seminars

Implement online workshops using experts

Use experts. You don’t have to do this alone. Use businesses like Precise HR Ltd, who can give honest, tailored advice specific to your company, workforce, industry and importantly, your budget!

The cost?

Approximately £80 for every employee, for 12 months.

The saving?

According to the Mental Health Foundation, for a company with 500 employees, where all employees undergo interventions, it is estimated that an initial investment of £40,000 will yield a net return of £347,722 in savings. Mostly due to reduced presenteeism (lost productivity caused by an employee working while ill) and absenteeism (work hours missed due to ill health).

In another article by Michael Parsonage and Geena Saini, their report highlights that mental health problems in the UK workforce cost employers almost £35 billion just 3 years ago.

They broke down the overall costs as follows: –

£10.6 billion in sickness absence;
£21.2 billion in reduced productivity at work, or ‘presenteeism’
£3.1 billion in replacing staff who leave their jobs because of their mental health.

So, conclusively, the costs of ignoring mental health for your employees, simply can’t be ignored.

More useful links for detailed reports, information and advice on Mental Health issues: –

The Mental Health Foundation

Precise Hr Ltd

The Centre For Mental Health

The UK Government’s Latest Advice on Mental Health and Wellbeing

…………. Below 2b curated…….

References

Lelliott, P., Tulloch, S., Boardman, J., Harvey, S., & Henderson, H. (2008). Mental health and work. Retrieved from gov.uk/government/uploads/system/uploads/attachment_data/file/212266/hwwb-mental-health-and-work.pdf

Stansfeld, S., Clark, C., Bebbington, P., King, M., Jenkins, R., & Hinchliffe, S. (2016). Chapter 2: Common mental disorders. In S. McManus, P. Bebbington, R. Jenkins, & T.Brugha (Eds.), Mental health and wellbeing in England: Adult Psychiatric Morbidity Survey 2014. Leeds: NHS Digital.

ONS. (2014). Full Report: Sickness Absence on the Labour Market, February 2014. Retrieved from webarchive. nationalarchives.gov.uk/20160105160709/http://www.ons.gov.uk/ons/dcp171776_353899.pdf [Accessed 28/07/16].

Sainsbury Centre for Mental Health. (2009). Briefing 40: Removing Barriers. The facts about mental health and employment. Retrieved from ohrn.nhs.uk/resource/policy/TheFactsaboutMentalHealth.pdf

Knapp, M., McDaid, D., & Parsonage, M. (2011). Mental Health Promotion and Mental Illness Prevention: The Economic Case. Retrieved from gov.uk/government/uploads/system/uploads/attachment_data/file/215626/dh_126386.pdf [Accessed 02/07/16].

An article by Mary Maguire, MD, Astute Recruitment Ltd

Everyone everywhere has been touched, affected and humbled by the unfolding events. From Miami to Mumbai, from Derby to Damascus.

Politicians, scientists, and medical experts update us daily on our national progress ‘beating the curve’, what steps we need to take to protect our amazing NHS and sadly how many have succumbed. But, what next?

What is key to businesses, workers, Recruiters, and MDs is when can we get back to work? What will work look like? Will I be able to find a new job? How will my business survive? How can I feed my family/ pay my mortgage without an income?

It’s natural and normal to feel anxiety, alarm, and stress on what is going on around us now. I feel it. Everyone does.

Thats an entirely normal reaction. But it isn’t very constructive or inspiring or healthy to constantly dwell on the news feeds. Lets not focus on what’s happened, instead, what can we do? What does the future hold?

We need to view our working futures and embrace a bold, new tomorrow. Learn from remote working, digest how much can be done by workers at home.

What can help everyone is thinking ahead.

Imagine what the new normal will be.

In your mind’s eye, visualise you/ your business / your team working again. What could that look like?

I’ll help.

First, companies and business owners.

It will be a completely different business climate compared to just a few, short months ago. Many companies and businesses were doing well, looking to expand, take up larger offices, increase the number of employees.

Others were having some difficulties but just about coping, having just enough ‘in the bank’. For many, there was no contingency, no ‘rainy day’ cash for unforeseen situations. And my goodness, this needed a Noah’s Ark of a contingency!

As we come out of this, working restrictions will slowly be lifted. Antigen tests will enable employers, employees and people everywhere to finally understand if they have/ hadn’t had ‘it’ or if they are immune. As this gets rolled out, companies will have to maintain social distancing, but teams will be able to go back to work on a phased return. Many of them. All of them in time.

Employers will need to keep ahead of changes to employment contracts to cover working from home. Businesses will need to ensure the relevant insurance covers are in place to cover remote workers. HR experts like

Overhangs in business will mean remote working is a ‘thing’. If nothing else, the myriad companies who have initiated, innovated IT enabling their employees, where possible, to work from home, can see that this flexible option can work, and work well. Presenteeism should finally be killed off.

Companies will benefit from a genuinely mobile, flexible workforce. Ongoing rotas with team meetings but with the flexibility to accommodate those who need to be at home, won’t be frowned upon. Their bosses and work colleagues will know they are busy doing their jobs and are working hard in their offices at home. This is also an opportunity, as an employer, to show your staff you care, are fair and decent. If you can do this, your staff will never forget this and you will build the strongest bonds of loyalty in your workforce and retain talent.

Show your business cares about your employees. Having the empathy and time to understand the personal dilemmas faced by your staff, showing them you are there to support them psychologically and practically are key.

Ensure your balance sheet has some ‘give’, look to build trust with your suppliers, debtors and clients. Ensure protocols are in place if lockdown procedures have to come back. Preparedness and contingency planning will be essential. You need to be totally aligned with your Financial Director / Financial Controller and Senior Management team. Scrutinise your credit control processes. This is also an opportunity to build lasting relationships too with your suppliers by having proper negotiations on payment terms and perhaps temporary measures. Help your suppliers to help you.

Ensure your customers KNOW you are still in business. This is a biggie. Use great local businesses like Mark Saxby, at Derby’s Status Social to professionally keep your brand alive, online and seen by potential clients and customers.

Create useful, impactful content but always be mindful not to appear arrogant, ignorant and ill-tuned to businesses and people currently having a very hard time. Have opinions by all means, but you need to make sure not to damage your brand inadvertently.

Unsure about content creation? Organisations including East Midland’s Love Business, East Midlands Chamber, Marketing Derby are experts in business and can put you in touch with marketing content writers, often local businesses in your local area. Remember, you need to try and ensure your customers know you exist and are ready to help them when they need your service. You need to keep your brand and team alive and in the thoughts of your potential, target customers while the lockdown continues and consistently after the lockdown starts to be lifted. Now is not the time to furlough your marketing team.

Take heart too. The demands for services, retailers, manufacturers, builders, engineers and suppliers WILL return. So those companies that have used the Government’s support mechanisms and been able to utilise their accountants and credit control teams to bolster cash, WILL be in demand.

The dreaded B word, ‘Banks’. Many, many business owners, Financial Directors, CFOs and MDs have said that the Banks continue to be very nervous about lending and not as helpful as the government or the business community would like. Some much more friendly banks to approach who appear to be much more helpful are HSBC, Allied Irish Bank and Natwest.

What about employees?

Workers are beginning to realise to know just how big a seismic shift economically, socially and psychologically has been created. There is no magic bullet to get us back to where we were before. Instead, online communications via Microsoft Teams, Skype or Zoom will be key. If you haven’t already used one of these, check them out. This will be a much greater part of our working world as we move forward.

Create a household timetable. Set alarms to ping for regular breaks from work. Many, many people I’ve spoken to have struggled to work on their own and have found themselves working 4 or 5 hours without a rest. No usual office distractions are great to create focus to get projects and key work done, but it’s not healthy mentally or productivity-wise to soldier on without regular breaks.

Exercise, take a walk, a yoga workout will all help. Exercise releases endorphins, magical feel-good hormones that will sustain energy levels and make you feel better.

Set regular bedtimes for everyone in the household and regular waking up times.

One good tip I read was how making kids wear school uniforms whilst doing their schoolwork and, adults wearing more formal office attire, triggers recognition in the brain and sets the frame for ‘work time’. This hasn’t worked in my case- I’m rocking the jeans and t-shirt look! I do other things though. I have my designated ‘desks’ in the house for working and stick to them. One is in my bedroom, one is at my kitchen table and the other is the front room sofa when I’m writing articles or compiling marketing early in the mornings before the rest of my household awakens. The point? Have set, defined ‘work areas’ so that psychologically your brain shifts into ‘I’m in work mode now’.

Eat well, Eat healthily. This is a biggie. Working from home can create a lot of temptations to ‘nibble’ and ‘just pick’ at snacks constantly. I have a rule in our house – no food upstairs. So, when I’m ‘hotdesking’ in my bedroom, I’m not tempted to constantly graze on munchies. Everyone needs a treat- just keep to regular mealtimes and regular times to have that choccie bar. Try and create meals from scratch. Frozen vegetables actually have more nutrients than fresh. You can freeze soups freshly made to have the next few days.

Um, alcohol. Yes, we should eat well and not drink ourselves silly either. A healthy way of having a little of what you fancy is fine. Try and build 2 or 3 alcohol-free days during the week. Another tip is to only have a drink at regular times. For me, this is usually at 10pm when the kids are asleep! Little known fact: During the lockdown, a number of people have managed to use this as an opportunity to continue their ‘dry January’ and improve their overall wellbeing at the same time.

The point is, having routines is essential to build healthy habits that become more natural. A new habit takes just 28 days to form so some of us will only have another 1 or 2 weeks and this will begin to feel oddly part of our daily routine. If something feels more ‘normal’ in turn this can help lessen anxiety and worry.

What about my sector – Recruitment?

For my sector, recruitment, business will continue with relative ease. Our clients and team are already conducting interviews of candidates online instead of face to face and this trend looks to continue. My team and I have been using Skype and other apps for some time as a natural part of the recruitment process to help clients and candidates. This will just continue to grow. Meetings with clients will be easier and quicker to book virtually online.

Saving fuel costs.

Saving time.

Saving the environment.

The key for recruitment businesses and companies across the board, will be ensuring internal infrastructure, IT, training are all strong, faultless and as seemless as possible. Consultants need to become more and more comfortable being ‘on-screen’. That goes for employees in all offices. Online, real-time, on-time training and support, needs to be available to consultants and resourcers as and when they need support.

And what of the unemployed? What of the companies that sadly couldn’t survive?

I myself was made redundant in 2009. The gutwrenching, knife twisting agony of job insecurity I understand all too well.

But know this. When the lockdown is phased to gradually open up, there will be opportunities for businesses to be reborn and for those not working to find jobs. It may take some time, but there are great, positive steps you can take to speed up your search for a new job or business opportunity.

If you are unemployed, furloughed or feeling uncertain, there is no harm reaching out to trusted recruiters who have helped you before. But be discerning. Use the people who know you as a person, not just another candidate. Contact the companies that have been busy putting positive, useful, thoughtful content ‘out there’. These are the contacts and connections that will have your genuine, best interests at heart.

Be more active on LinkedIn or set yourself up on LinkedIn if you aren’t already. This is the proper reason why LinkedIn was set up. To allow connections with other business and career professionals to work and help each other, forge new relationships and new opportunities.

Above all, try and be positive.

Talk to trusted friends, work colleagues, and business professionals. Keep connected.

And, most importantly, even if you are on your own, know you are not alone.

If you feel things getting on top of you, reach out. Ring a friend, colleague, family – never feel embarrassed about feeling anxious. They will probably be feeling similar anxiety and be equally grateful to share some experiences.

Human beings are natural, social creatures. Our mental health suffers when we are in isolation and on our own. Talking to one another is one key antidote to dark feelings.

We are all in this together, and together we will survive.

Our next business event will be focussing on ways to cope working from home. We will be looking at how to harness your positivity, maintain energy levels and keep motivated when working remotely. We will be announcing details very soon and have a brilliant guest speaker lined up!

If anyone would like more information on any of the points covered in this article and would like a confidential chat, you are welcome to reach me through LinkedIn, email or simply call me on my mobile 07717 412 911. Alternatively, if you have any ideas for articles or information you would like us to put together – let me know!

Be Safe,

Be Well,

Be Astute.

An article by Mary Maguire, MD, Astute Recruitment Ltd

Supporting people and business.

If we fail to believe we believe in failure.

Whilst Sarah Stevenson and I set up in ’09, clearly a very difficult time, we knew we were great at what we do, confident to carry this through with just Sarah’s redundancy and ultimately we believed.

In ourselves and our ability to source talented accountants for local clients.

We believed in our relationships.

We believed in our loyal clients and believed in our trusted candidates.

Here we are again. Facing a seismic shift in global wealth. But hey, ho. Confidence favours the brave!

We have not made any of our talented family of recruitment consultants redundant.

We have not shut down operations.

We have adapted to the current circumstances, found new ways of working and retained our team spirit and strength.

We continue to work with amazing people and businesses who are also finding new ways of working. New ways to ‘onboard’ new staff.

We have said we will carry on. We believe in our staff, and our clients are working with us to carry on and recruit talented people for their teams even in the current crisis.

Yes, things are different.

Yes, things are difficult.

BUT, if we accept failure is an option, failure becomes a guarantee.

Now is the time for ingenuity, bravery and spirited belief by business owners leading from the front.

If we fail to believe, we are believing in failure.

#believe #belief #BePositive #business #Strength #recruitment #accountancy #accountancyrecruitment #derby #derbyshire #nottinghamshire #eastmidlands #motivationalmondays

To furlough or not to furlough? Here at Astute Recruitment Ltd, we answer your questions.

To furlough or not to furlough? That is the question for businesses up and down the UK. But, what does it really mean for employers AND employees?

Here we break down the common questions employees, accountants and employers have been talking to us about.

The recent launch of the Government’s ‘Coronavirus job retention scheme’ enables companies to continue employing staff with 80% of staff pay covered (up to £2,500 a month) by the Government.

Why the £2,500 ceiling?

£2,500 is the monthly equivalent to the average UK worker’s annual wage of £30,000.

The idea is that staff who would otherwise be made redundant or laid off, can be retained, allowing businesses to retain their talented workforces.

But, there are some strict caveats if a company wants to ‘furlough’ all or part of their employees.

The UK’s Chancellor, Rishi Sunak, announced several measures to help safeguard the wages of millions of hardworking employees who would otherwise have been laid off, and try and relieve cashflow and prevent bankruptcies.

Sunak’s scheme, applicable to all businesses with PAYE employees, will be up and running by the end of April and backdated to the 1st of March 2020. The self-employed are not covered by this scheme.

To access the scheme, businesses have to ‘furlough’ their employees who they can no longer afford to pay.

What does it mean if you’re an employee being ‘furloughed’?

If you’re being furloughed by your boss, it means you’re being sent home, but will still receive 80% of your monthly salary, by the Government, up to a maximum of £2,500 a month.

First, you need to agree to be put on furlough by your employer. They can then apply for the money directly to the Government. You cannot apply for it yourself.

Your employer can choose to ‘top up’ your pay with the remaining 20 per cent of your wages, but they are not legally obliged to do so.

If your annual salary exceeds £30,000, i.e. You earn more than £2,500 a month, your employer can choose to ‘pay the extra’, but again, this is at their discretion.

You will still continue to pay income tax and national insurance contributions while on furlough.

Whilst furloughed, your employer cannot ask you to perform any work duties or services which will generate revenue for the business. They can, however, ask you to do ‘training’ to improve your job skills.

Employees on zero-hour contract CAN be furloughed.

Temping through a recruitment agency or working on a flexible contract? You are also eligible to be furloughed; –

For those on zero-hour contracts, where you don’t necessarily earn the same amount each month, your employer should give you 80% of your average monthly salary since you started working.

That also applies to workers employed for less than a year.

If you have worked for your employer for 12 months, or more, you should receive 80% of your average monthly salary OR 80% of what you earned in the same month during the previous year – whichever is the higher.

If you only started work in February, your employer will pro-rata your earnings from that month. But if you’ve started working on the 28th of February or after, you are not eligible.

If you have been made redundant after the 28th of February 2020, or even if you left a job after that date, you could be re-employed under furlough if your employer is willing to do so. Otherwise, you will have to claim unemployment.

Can you be furloughed if you are off sick?

If you have fallen ill, and in the meantime, your employer has had to shut down, you should get statutory sick pay first, but can be furloughed after that.

Those who are self-isolating because of coronavirus are also covered.

What if you have been off ill and in the meantime, your employer has had to shut down? First, you should get statutory sick pay, but you can be furloughed after that.

Employees who are ‘shielding’ and those vulnerable to potential severe illness caused by the coronavirus, can also be placed on furlough.

Currently, employees can be furloughed from a minimum of three weeks up to three months, although the Government may look to extend that if needed.

Which businesses can apply?

Any company with employees can apply, including, but not limited to; charities, recruitment agencies, and public authorities.

Most public sector organisations are not expected to apply, as ‘the majority of public sector employees are continuing to provide essential public services or contribute to the response to the coronavirus outbreak’ say the Government.

Businesses who are receiving public funding specifically to provide services necessary to respond to the coronavirus outbreak are not expected to furlough staff.

Employers can furlough staff for a minimum of three weeks and are not allowed to rotate employees on furlough.

In order to access the scheme, businesses need to change the status of their employees to “furlough workers” and submit the information to HMRC.

HMRC is currently working to set up a system for reimbursing companies with access anticipated by the end of April. Due to volumes, accountants and businesses are warned that they may not be able to receive payments until mid-May.

For the Government’s full, current, official guidance click this link https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme#employees-you-can-claim-for

Astute Recruitment Ltd.

Supporting people and businesses through the current crisis.

Mary Maguire
MD Astute Recruitment Ltd

Mobile: 07717 412 911
Head Office: 01332 346 100

Remote Working. Why your team can thrive and how you can make this happen.

In the current crisis, discover how remote workers can add value in your business & how to make this happen
Change is different, but together we can adapt to new ways of working

In the current crisis, businesses across the land are struggling to keep apace with developments. Here at Astute Recruitment Ltd, we have been working on scenarios to help both clients and candidates at this unique time.

Remote working is a working style that allows professionals to work outside of a traditional office environment. It is based on the concept that work does not need to be done in a specific place to be executed successfully.

We can provide candidates for temporary and permanent work who can work remotely from home. Using Microsoft Teams, Skype and other platforms, our interim candidates can attend virtual meetings and online training sessions to enable them to pick up quickly what needs to be done.

Currently, we are working with several clients to overcome the social distancing guidelines and still enable a business to carry on.

Contact our Interim Specialists Sarah-Louise Wykes & Richard Bowe to learn more about how we can help you find smarter ways to find the staff to work remotely in interim assignments.

Why remote workers add value to your business and how to make this happen!

Remote working doesn’t lend itself to every role and business, but a lot of companies and employers are acknowledging that there are clear opportunities for working remotely to improve their flexibility and enable their staff to enjoy greater working autonomy. Less experienced, more junior employees, will benefit from more traditional hands-on supervision, training, and support. Similarly, employees whose work is highly sensitive and confidential should perhaps be required to keep their work in the office. However having partnered with several local Derby and Derbyshire businesses on key talent acquisition projects, we are delighted that large and small firms have embraced ‘on-demand, online training’. These empower their employees to access the training and development they need when they need it.

Remote working is conducive to business efficiencies and there can be significant benefits in offering employees the opportunity to find their ‘second desk’, wherever that might be!

Staff morale

No commute! Cutting out the commute can offer a huge boost to employee productivity. Without office distractions or extended coffee-break chats, staff can become a lot more efficient. It can also provide them with a greater sense of autonomy if they feel less monitored at work, which encourages job satisfaction and loyalty.

Instead of monitoring time spent at work, consider changing to alternative models where your employees’ output can be measured instead. Providing the work is being done, and their deadlines are met, should it really matter where the work is carried out, or what time of day or night it gets done?

Increased talent pool

Remote working completely transforms your talent pool when your people no longer need to live within commuting distance to the office, and can even live on the other side of the world. Recruitment suddenly just got a lot more interesting. The flip side of this benefit, of course, is being mindful of local employment laws, payroll and taxes for the country in which your new employee is based.

Bigger cost savings

Depending on how easily your business lends itself to a remote working model, you could be looking at potentially huge cost savings. If more and more of your desks are empty on a regular basis, you should consider moving to a smaller office space, or even doing away with it altogether.

Beware the loneliness trap!

A common frustration employees tend to experience with remote working is a feeling of isolation, loneliness or lack of team camaraderie. Employers would be well-served to be mindful of this, encouraging team get-togethers and frequent interaction, either in person or via face-to-face technology. Microsoft Office Teams is an excellent way of teams getting together online to share better work practices and engage socially and enjoy some team ‘banter’.

Accept there will be teething problems

As with the introduction of any new policy or business model, you should expect some teething problems. However, once things settle down and your team becomes more familiar with virtual meetings than physical ones, your business, and your staff can start to enjoy the numerous benefits remote working has to offer.

Dos and don’ts

Companies and businesses thinking of implementing remote working should:

Ensure the appropriate technological tools are in place. This includes rigid data security measures and confidentiality procedures;
Update employment contracts if needed and create a new remote working policy to help set boundaries, manage employee expectations and support all-important team culture;
Risk Management: Think about whether remote workers will need to complete short health and safety assessments for their chosen work location. Always remember that employers will continue to have some responsibility for employees’ work environments, even outside the office;
Insurances: Ensure an Employer’s Liability insurance policy is updated to cover remote working.

The ‘don’ts’:

Don’t forget to check national & international employment laws and payroll laws as relevant. (Full compliance with the employment laws in the remote worker’s location is essential);
Don’t expose the company to data breaches. Remote workers should be educated about inadvertent disclosure when working in public spaces, and the implications of taking work abroad and unintentionally transferring confidential data across borders;
Don’t treat remote workers and onsite workers differently. All staff, whether office-based or remotely working must be treated equally otherwise this could put the company in breach of discrimination laws and leave remote workers feeling isolated;
AND FINALLY, Don’t expect remote workers to be constantly logged in. Remote working culture risks blurring the line between work life and home life and could breach employees’ rights under working time laws.

Originally published on LinkedIn, March 17th, 2020 by Mary Maguire

You can view Mary’s other LinkedIn Articles HERE.

PS: Thank You!

The inspiration for this piece came from Sarah-Louise Wykes, so huge thanks to you and your husband!

In the current crisis, how to utilise remote working in your business? One of my team – Sarah-Louise discussed this idea with me and this article was born.

At Astute we constantly seek to educate and highlight the very latest recruitment trends and issues for our clients and candidates.

In the current climate – tips on how to set-up and keep an engaged workforce working remotely will be high in the minds of employers everywhere seeking to ensure their teams can and are working. I hope this article is useful and provides some inspiration to teams, employers and businesses in what are clearly difficult and unprecedented circumstances.

To survive and thrive, we need to make sure that businesses keep doing business and staff can do their jobs.

At Astute, our teams are fully briefed with candidates able to jump in and help support your team.

The social media and pressures in general forced upon someone who was actually very fragile, resulted in tragedy for Caroline, her friends, and family.

Her death also served to highlight as a warning for all of us that whilst dates in the year like Valentines Day have typically become a day of ‘lurve’, joy and celebration, there are a whole lot of people for whom these dates float around bringing them dread.

Relationships can and do break up.

Many people, find occasions like the 14th of February hard to deal with as they are single, having relationship difficulties or just ‘in-between’ relationships.

Some will be very happy in their own company too.

Mary writes in her piece that

“Whilst happily married, I’ve known times before I met ‘the one’ where I delighted in my own company, and times I felt genuinely lonely, feeling a bit out of the loop if Valentines Day coincided with one of those periods.

My point? It’s easy to feel that you should comply with the herd. In this case, the schmaltz churned out by any kind of media or peer pressure.

So, whatever your relationship status, celebrate the fact that you, yourself, are great! Allow yourself to feel happy whether you are single, married, or other. Most of all, be mindful that today and every day, there may be work colleagues, friends and family who may be finding it tough and who would appreciate some love of the friendship and empathy kind.“

This is such a huge topic and one that employers everywhere and anyone with work colleagues need to be mindful of. Not everyone may be in the ‘happy’ place you are in, but a friendly smile, gentle touch and warm words of encouragement can go a long way in helping someone step away from dark thoughts.

To see other posts and articles by Mary, you can view her LinkedIn and Follow Mary on https://www.linkedin.com/in/mary-maguire-55307318/

You can follow our company LinkedIn page by clicking HERE and just selecting “FOLLOW”

'You are not alone' Stress Awareness Day 2019 — ‘You are not alone’ Stress Awareness Day 2019

Its National Stress Awareness Day 2019.

Some stats from the Health and Safety Executive Department figures

The UK’s economy lost a total of 12.8million workdays in 2018 solely due to stress

602,000 UK workers suffer from work-related mental issues such as depression and anxiety

44% of work-related sick days were caused by depression and anxiety

Stress Awareness Day on November 6^th was created by the International Stress Management Association (ISMA). For 2019, Resilience is the theme – enabling people to employ key coping mechanisms when coping with the everday pressures of life – at work and at home.

FIRSTLY you need to gauge your own mental state – Ease that tornado of thoughts which make you start to feel anxious, take a step back.

Every Mind Matters has a five-questions quiz to help you have a clearer view of your mental health and for you to understand how ‘stressed’ you are..

Once you understand the state of your mental health you can begin to increase your resilience to your own, personal ‘triggers’.

Mental Health charities such as Every Mind Matters and Mind provide more tips but have a go at these initial tips…you will need to practice these as for many these will be outside your comfort zone. It will be worth it though!

BE MORE STRAIGHTFORWARD and confident when dealing with people. If others are placing unreasonable or unrealistic demands on you, be prepared to say how you feel and to actually say “no”. Practice saying no in front of a mirror. Baby steps. Work your way up.

USE RELAXATION TECHNIQUES – you know yourself what helps you unwind, whether a nice long soak in the bath, listening to your favourite podcast or playlist. Set aside the time to do this. Don’t put this off. It is important you have ‘me time’ to properly relax.

ALLOW YOURSELF TO EXPLORE AND DEVELOP NEW HOBBIES AND INTERESTS. Set aside an activity that is totally removed from anything that causes you stress. This is a brilliant way to release you from everyday pressures. You are worth it. Stress can make people feel isolated and alone, but hobbies where you can interact with likeminded souls is a great way to meet new people, forge new friendships in a ‘safe’ environment that you can trust.

CREATE TIME FOR FRIENDS. Talking to friends about the things you find hard is proven to alleviate stress and can increase confidence and positive wellbeing. The act of talking helps keep your worries in proportion and can help your friends too. It is scientifically proven that laughter and smiling release produce chemical reactions in your body and brain – endorphins – that will help you relax and ultimately feel better.

SEEK BALANCE IN YOUR LIFE. Very hard for many of us, but if all of your time & energy seems to be sucked into your job or children its definitely time to look at ways of focussing on different areas whether family, hobbies or friends. Lack of diversity in life breeds discontent and often causes the seeds of anxiety and stress to grow.

KNOW THAT IT IS FINE TO SEEK PROFESSIONAL HELP. No man or woman is an island. All of us need to accept that from time to time it is OK to admit you need a bit of help and that may include medical support. Reach out to the NHS – they have several free therapies including Cognitive Behavioral Therapy (changing your thought process through ‘re-wiring your brain), Mindfulness (ensuring you are ‘present’ and ‘in the moment’) or Ecotherapy (channelling the soothing power of nature to help with mental health issues.) Your GP will be able to prescribe additional medication. If you feel like you need further care, you can talk to your GP. There are even Apps that you can access from your pocket smartphone. The NHS and Every Mind Matters recommend ones and click here to get these.

Above all, remember that although you may not feel like it, you are not alone and help is there for you.

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