In a survey of more than 500 SMEs across Australia and New Zealand, Findex found:

• Looking back, businesses found the second year of the pandemic more disruptive than the first:
  • A third (32 per cent) said they were “significantly impacted” by the pandemic this year, up from a quarter (25 per cent) in 2020
• Looking forward, business confidence for the year ahead has also dropped:
  • Only two in five (40 per cent) businesses say they feel confident about the future outlook, dropping from 1 in 2 (52 per cent) in 2020
  • However, two thirds (64 per cent) of businesses estimate things will be “back to normal” in six months
• SMEs were reliant on government support this year to survive – and fear for their future – as this support scales back:
  • 7 in 10 businesses said Government economic support packages had been important to the survival of their business
  • 6 in 10 businesses predict that winding back government assistance will have an impact on their business
  • Only a third (30 per cent) of businesses are in the process of developing or implementing business continuity plans (BCPs).

For more information and data, please see the Findex ‘When Worlds Collide: Small Businesses Meet Post-Pandemic Life’ report.

From consideration of flexible working to career development, internal progression and recognition, the competition for attracting and to retain quality talent is tough, and good candidates hold more cards than ever before. And for small businesses failing to meet these new expectations and better understand employee needs, a worldwide trend – known as the Great Resignation or Big Quit – is very much in motion and looming around the corner.

So what can small businesses do to retain quality talent? Well, now’s the time to take action and review your current HR and employee training programmes. Here are four guidelines to help you get ahead of the Great Resignation.

#1 Skills training for the here and now

Not only is having the right skills in place to meet the immediate needs of your business essential but learning new skills and ongoing training also helps employees feel continuously engaged. Readily accessible upskilling courses and tools help to empower employees to learn the way they want to learn, whether they’re out in the field, on the frontline or in front of a desk. In this way, they can take more control of their own learning, development and career paths. Being able to identify and address knowledge gaps to support the skills your employees need in the here and now, helps to keep the workforce driven and inspired.

#2 Take an autonomous approach

As a result of the pandemic, attitudes towards command and control, empowerment and autonomy have shifted, and employee demands for autonomy are even more significant. According to our Autonomy to the People report, over half of respondents (54%) say it is now more important that employees are given choices for when and where they work. A similar number (51%) say that they should have influence over the resources needed to do their job.

We know processes and technology play a crucial role in enabling teams and individuals to establish their ‘workspace’ and work autonomously. So in order to retain, foster and recruit great talent that is fundamental to future success, businesses need to provide an environment that supports this way of working.

#3 Connect staff to your purpose and values

Providing oversight on the business’ purpose and values play a critical role in attracting, motivating and retaining talent. Your employees want to feel a sense of meaning and purpose at work and also need to feel connected to the business as a whole – particularly during what has been an uncertain and precarious time. Measure and share outcomes regularly, whether that be in town hall meetings, on your website, or through your online presence, and really bring your staff on the business’ journey.  Lastly, something as simple as linking your employee reward and recognition program to your business’ values is a great way to remind and reinforce your organisation’s why.

#4 Keep talent engaged from the minute they enter the door

Once you’ve attracted talent, you’ll need a strong onboarding and induction programme. This is possibly the most critical investment you make when it comes to L&D. An astonishing 9 in 10 new hires are prepared to leave within the first month – so it’s vital that their first impression is a good one, and sets a positive tone for what to expect in the future – when it comes to investing in their development, and their employee experience as a whole.

written by John Maley – Head of Human Resources, APAC The Access Group, which is one of the leading providers of business management software to UK, Ireland and Asia Pacific mid-market organisations.

Also read Small Business Answers guide to Creating a positive employee experience.

The impact of extended COVID-19 lockdowns in major Australian cities took its toll on workers in 3Q21 as discretionary effort levels – or willingness to go above and beyond at work – fell to new lows, according to Gartner, Inc.

The survey conducted in between July and September 2021 showed that the proportion of workers displaying high discretionary effort fell to 13.9%, down from 15.6% last quarter and 16.9% year-over-year. Business confidence among employees in Australia also fell by 7.6% from 2Q21.

The proportion of employees actively seeking a new job rose slightly from 22.5% last quarter to 23.4% in 3Q21. While 40.5% of Australian employees surveyed reported high intent to stay with their current employer, the Gartner survey found variability between job functions and industries. For example, only 12% of Australian IT workers showed high intent to stay, pointing to a significant turnover problem.

Aaron McEwan, vice president in the Gartner HR practice, said the data paints a picture of a decline in Australian workforce health and confirms the heavy toll of more than 18 months living and working through a pandemic.

“If there is any doubt that the ‘Great Resignation’ seen in the U.S. is coming to Australia, this data dispels it. It is likely there will be an increase in people leaving their jobs around March next year, once hiring picks up after the summer holidays and annual bonuses are paid,” said McEwan.

Act now to set expectations and retain staff

There is still an opportunity for organisations to get ahead of the problem, by providing clarity to employees before the end of the year on what to expect in 2022. Work-life balance remains the top priority for Australians seeking a new job, and the no. 2 reason for leaving, according to the Gartner survey.

“We’re already seeing organisations pilot innovative solutions like 4-day work weeks, more flexible working arrangements and more comprehensive leave policies including paternal, miscarriage and menstrual leave,” said McEwan.

Manager quality was the top reason employees reported for leaving their role, followed by work-life balance.

“Even when an organisation’s policies allow flexibility, the implementation often still comes down to the employee’s direct manager,” said McEwan. “Workers dissatisfied with their employer’s attitude and policies towards management and flexibility will likely use the holiday period to plan their next career move.”

Compensation is now the no. 3 reason why Australians would leave their current employer. Two years ago, compensation did not appear in the top ten reasons for leaving.

To successfully retain staff, organisations must treat their employees as people, not workers, and invest heavily in re-designing work to be more human-centric, according to Gartner.

Table 1. Labour Market Survey Highlights for Australia, Q3 2021

Source: Gartner (December 2021)

The Gartner Global Labour Market Survey is made up of more than 18,000 employees in 40 countries, including 849 in Australia in Q321. The data above is reflective of market conditions during the quarter.

GBG (AIM:GBG), the global expert in digital identity, helping businesses prevent fraud and meet complex compliance requirements, has released new data showing more than one in four (27%) of Australians would not purchase from a retailer again due to late deliveries for the holidays. Consumers cited damaged trust (15%) and retailers being responsible for delivery timeliness (12%) as the main reasons. 

Despite various reports and forecasts of potential delivery delays and supply chain disruptions leading up to Christmas, 66% of Australians prefer home delivery for their online holiday season purchases, significantly more than those preferring click & collect (24%) or using a pick-up point from a logistics provider (5%).

Many consumers have already begun their shopping to mitigate potential delivery delays. More than a quarter (27%) started their holiday shopping in October, 28% planned to start their gift purchases in November, and 30% will be rushing for presents from the start of December to Christmas Eve. 

Carol Chris, Regional General Manager for GBG in ANZ commented, “Retailers and online merchants need to recognise that a significant portion of online shoppers will not show leniency if their customer experience is sub-par. Delivering secure and frictionless customer experiences at the checkout requires having reliable technology in place that accurately processes purchases and customer information.”

The data highlights consumers will maintain a measured approach to online shopping, though overall consumer confidence is high. This year, despite the ongoing pandemic, 73% of Australians plan to spend as much or more this holiday season in comparison to pre-COVID. A quarter (23%) plan to spend between $251 and 500 in total on gifts this year, and a further quarter (25%) have budgeted between $501 and $1,000.

Chris continued, “The ongoing impacts of the pandemic have not deterred Australians from wanting to ensure this time of year remains the biggest and busiest for their online shopping and holiday gifting needs. As retailers continue their digital transformation journeys to keep up with customer expectations, our Loqate Address solutions have been specifically designed to enable merchants to deliver exceptional experiences to every customer, wherever they are located, by being powered by the most accurate global and regional location data.” 

More key findings from the survey include:

• Consumers will be most influenced to shop more by sales, promotions and discounts (62%), free shipping (53%), and rewards/loyalty programs (36%).
• Post-pandemic, 61% intend to continue the habit generated during the pandemic of focusing on purchasing more essential products.
• 48% of Australians do not plan to travel this holiday season, 16% have travel booked within their state, and 24% intend to travel domestically. 

According to disability employment experts, atWork Australia, Australia’s 4.37 million people living with disability are still facing huge challenges with employment and this issue is depriving businesses of a highly loyal and productive talent pool.

“Hiring a person living with disability shouldn’t be seen as an issue to be overcome, but an opportunity to build stronger teams,” says Debbie Brooks, atWork Australia’s General Manager Partnerships & Stakeholder Engagement. “Hiring a diverse workforce facilitates different methods of communication, collaboration and leadership to balance out working styles and create a fluid and dynamic culture.”

Businesses can play an important role in creating an equal and inclusive workplace, and reap significant benefits from hiring people living with disability. Bringing together different minds, backgrounds, experiences, genders and ages brings together different thought processes to solve more complex problems.

While diverse workplaces benefit minority groups, businesses also stand to gain with a 2018 study showing that companies that prioritise inclusion achieve on average 28% higher revenue, 30% higher profit margins and double the net income. Additionally, on average, they see staff retention go up by 90%, which allows them to focus on their business and not ‘revolving door’ recruitment.

Here, Debbie sheds light on misconceptions with inclusive recruitment and discusses why it’s good for business.

Don’t assume that a person living with disability can’t complete the same tasks as their peers

As a person living with disability, the worst thing you can do is assume that someone isn’t capable of certain things due to their disability. You will be amazed how people can adapt and find new ways to do things.

My advice to employers would be that if they can create a workplace where the person living with disability feels comfortable to ask for help and can have access to the right technology that can best support them, it will allow the person to complete their role to the best of their ability.

It doesn’t cost more to hire someone living with a disability

It is often assumed that employing people living with disability carries additional costs. However, employers should be aware that this isn’t the case. It is clear from research that employing people living with disability costs exactly the same as employing those without^[i].

Employers may be eligible for funding through the Australian Government’s Employment Assistance Fund (EAF) which has been implemented to cover the costs of meeting accessibility requirements for eligible persons. This can include buying equipment and accessing services for people living with disability.

Diversity creates engagement

Inclusive workplaces are likely to be more engaged, motivated and productive, and employees will stay with a diverse business for longer. Opening up recruitment strategies to facilitate the employment of people with disabilities also opens the door to other diverse groups, helping businesses meet HR targets and benefit from accessing the full talent pool.

An inclusive workforce enables better connections with your customers

The Australian Network on Disability says that a workforce that reflects the diversity of the wider community is also likely to lead to greater customer loyalty and satisfaction across industries. A workforce that reflects your customer base, creates a better connection.

By creating a space where all employees have equal access to employment, Australian businesses can access the full talent pool. For more information, please visit https://www.atworkaustralia.com.au/des

American Express’ latest Shop Small campaign urges shoppers to do their Christmas shopping with small businesses this year to help accelerate their recovery. If each person purchased a $100 gift at a small business, it would deliver an additional $2 billion boost to the sector. This rally for support comes as Gill Minervini, the newly appointed festival director of Sydney’s most iconic light extravaganza, Vivid, creates spectacular festive window displays in three small businesses, bringing joy to local communities and much-needed foot traffic into stores.

To support the campaign, new research by American Express shows the potential opportunity to help reinvigorate the small business sector is even greater. The data shows that shoppers are intending to dig deep this Christmas to potentially spend, on average, $220 per gift for loved ones. If this happened, and just one of these gifts was purchased at small businesses, a potential $4.4 billion would make its way to the sector.

In a sign of just how critical the festive trading period will be for small business operators, the research shows it will be make-or-break for nearly one third (30%) of Australian small businesses. These operators say that without strong sales they won’t survive. Another 38% say that weak sales will force their hand at having to make serious changes to their business.

Lisa Belcher, Vice President of Small Merchants for American Express says, “Our research shows that almost one third (31%) of Australian owned and operated small businesses say that this year’s Covid crisis has been the hardest period their business has ever endured. Compared to last year, average sales are down 35% and operators are pulling out all the stops to make this Christmas successful. We launched Shop Small in Australia in 2013 and this annual call for support for small businesses has never been more important.”

“For this year’s campaign, we were inspired by the spectacular window displays traditionally seen in larger retailers around the world. On a slightly smaller scale, we are delivering the same level of delight and magic to local communities but most importantly bringing customers, ready to spend, through the doors of small businesses.” 

Synology has unveiled the next evolution of its on-premises and cloud solutions, announcing DSM 7.1, Surveillance Station 9.0, SRM 1.3, and significant updates to C2 Backup, C2 Identity, C2 Password, C2 Storage, and C2 Transfer. Exciting new features have been announced for each Synology product, with substantial improvements to the user experience, reliability, and scalability across the board.

On-prem

Large-scale data management

DSM 7.1 will bring improved file sharing performance and convenience with the introduction of SMB multichannel and DFS support. Multi-site businesses can leverage the C2 Storage supported Hybrid Share to reduce bandwidth constraints and make collaborative work simpler. In conjunction with Synology Drive’s unified file portal and redesigned mobile app, remote teams have complete control of their data no matter where they are.

For system administrators, more users and devices should not mean more management overhead. Active Insight, the cloud monitoring and troubleshooting service introduced with DSM 7.0, is gaining new conveniences. Hyper Backup tasks from each device can now be monitored directly from Active Insight, ensuring that backups are never forgotten. More details on system updates and login activity analysis put important information front and center. 

New bandwidth control capabilities and expanded client triggers in Active Backup for Business, plus support for Virtual DSM deployment in MailPlus give IT teams more tools to reduce operational complexities. DSM 7.1 will also introduce support for full DSM backups, providing another way for administrators to protect and restore entire Synology devices.

Faster, simpler, and more secure

Surveillance Station 9.0 sports a refined user interface that provides users with all the tools they need, faster than ever before. The new Monitor Center centralizes all important feeds with convenient playback controls and alerts. Better map integration means even multi-site deployments can be efficiently monitored, providing security teams with precise information and easy-to-act-on graphics when every second counts. 

Setting up cameras has also never been simpler with the new onboarding wizard. Thanks to the option to import and copy settings, deploying hundreds of cameras can be done within minutes. 

Improvements to Central Management System (CMS), including flexible device update options, simultaneous dual recording, and HTTPS/SRTP support make it simpler to make each installation more secure and resilient. 

A new Synology C2 Surveillance service will enable homes and businesses to simultaneously and securely record surveillance footage to the C2 cloud. With under five seconds of lost footage, C2 Surveillance will ensure that footage is always accessible, even after a catastrophic event or in case of theft of the on-prem system. 

The new DVA1622 NVR makes Synology’s suite of advanced AI-powered surveillance analytics such as face recognition and people counting more accessible for smaller stores or even SOHO environments. Together with Surveillance Station 9.0, DVA series NVRs also gain license plate recognition capabilities.

Multi-gig wireless, VLANs, and more

SRM 1.3 and the Wi-Fi 6 Synology RT6600ax router introduce faster networking and greatly expand network management capabilities. SRM 1.3 ships with full VLAN support through an intuitive interface that anyone can use to partition and separate their devices, including IoT sensors and other potentially insecure gadgets. 

The flagship RT6600ax tri-band router is one of the first to support the expanded 5.9GHz spectrum, delivering much more room and uninterrupted operation for 160MHz devices. The 2.5GbE port ensures support for faster uplinks and internet connectivity. 

A redesigned DS router app brings nearly all of the management capabilities of SRM into the smartphone. Creating new wireless networks, configuring parental control or web filtering, setting traffic control schemes, and more are now just a few taps away. 

And beyond

Synology also announced research and development into scale-out file servers to meet even greater requirements, whether for capacity, service availability, or management needs.

Cloud

A secure cloud, for everything

Launched just a few months ago, C2 Backup, Identity, Password, and Transfer are standalone services to solve specific IT challenges in a simple and accessible way.

C2 Backup simplifies device and business-critical data backup, even for teams working remotely. Bare-metal backup coupled with convenient file-level recovery through an intuitive online portal ensure fast and flexible data protection.

C2 Identity replaces traditional directory services with a secure and low-latency hybrid approach, with C2 servers providing management, SSO services, and locally deployed LDAP nodes for local, intranet-only servers and devices. The included Windows and macOS device management capabilities provide administrators with the tools they need to secure their teams.

C2 Password makes password management simple and accessible for all. The service is free for individuals and only 4.99 USD a year for password sharing between up to six accounts — all without limitations to the number of devices connected. 

C2 Transfer makes sharing sensitive files with external parties easy and secure. Besides implementing identity validation, C2 Transfer encrypts all files locally, making sure that data never lands in the wrong hands even if shared links are exposed.

Synology is constantly introducing new features to each C2 service, maximizing convenience and on-demand scalability without burdening users with maintenance. Multiple data residency options — including a new data center in Taiwan, which was recently added to the existing ones in Frankfurt and Seattle — enable administrators to achieve maximum compliance with local data retention regulations. In 2022, Synology will be introducing C2 Object storage service for S3-compatible applications.

All the details

The Synology 2022 AND BEYOND event, premiered on Dec 3 01:00 GMT+8, goes into more detail and introduces even more features and services. Watch the keynote and seven dedicated sessions online at https://sy.to/2022.

Availability

Synology DSM 7.1 and Surveillance Station 9.0 will be released in Q1 2022 as public previews.

SRM 1.3 will debut on the RT6600ax router in Q1 2022. Support for RT2600ac and MR2200ac will be added in Q2 2022.

More detailed information on other features and services will be available at a later date.

eGuarantee, Australia’s exclusive distributor of lease bonds – a digitised, non-collateralised alternative to bank guarantees for securing commercial leases – has issued more than $8 million in lease bonds in Australia and currently an additional $9 million having passed credit and about to be issued. These lease bonds are providing access to capital at a time when cash flow, resilience and growth remain key priorities in response to COVID-19. *Across Australia, only two out of five (40 percent) small businesses say they have sufficient cash flow to navigate the end of lockdowns. This figure drops to 21 percent of small businesses employing 26-50 staff.

With an estimated $7 billion tied up in bank guarantees, eGuarantee’s mission is to disrupt the commercial leasing sector and bring a more equitable balance to the tenant-landlord relationship, unlocking value for both parties.

eGuarantee Co-Founder and CEO, Shaun Sergay says the opportunity is clear and the solution is powerful, especially at a time when both business and the economy is relying on access to cash to recover and grow.

“Lease bonds, popular in European and American markets, challenge the status quo in Australia, presenting financial and operational benefits to tenants and landlords. Lease bonds are the cheapest form of non-collateralised credit, sitting on average at five percent less than an unsecured bank overdraft. But the game changer for tenants lies in the ability to redirect a sizable amount of money secured with a bank back into the business,” he said.

“Where bank guarantees require up-front cash or collateral, the company’s lease bond doesn’t. We issue bonds from $20,000 up to $7.5 million, switching to a lease bond can provide businesses with a significant cash flow advantage and can help landlords ease the lease security burden for their tenants and assist in making their tenants more robust through access to increased working capital. With tenants achieving a rate of return on the business’ working capital, greater than the bond fee, making the switch brings a really clear business advantage.”

“Commercial leasing is an industry ripe for innovation, and lease bonds provide an intuitive and efficient digital experience. While bank guarantees can have tenants waiting up to six weeks, lease bonds draw upon an advanced proptech platform to process within 20 minutes, making it one of the most efficient ways to get capital back into businesses to drive growth and profit,” he said.

The local arm of global corporate advisory consultancy, Morrow Sodali recently accessed a lease bond using eGuarantee for its new Pitt Street office. For Managing Director (APAC), Angus Booth the impact was ‘significant to their business growth, and he believes they’ll be reaping the benefits for a long time to come.

“We recognised that the COVID-19 pandemic offered a unique opportunity to enhance the skill set of our people by hiring great new talent while our competitors were making staff redundant. The lease bond allowed us to unlock $500,000 of working capital which we have invested back into the business and our people to facilitate growth. This contributed to a number of initiatives that have resulted in us more than doubling the headcount in our ESG advisory team, supporting our expansion into new markets such as Seoul, Hong Kong and Japan and making enhancements to our technology platforms, overall improving our ability to meet the evolving needs of our clients in the APAC region,” said Mr Booth.

“Our landlord, Charter Hall, provided the flexibility and support to use the lease bond, and we’re grateful to partner with a landlord who sees the significant and material benefits which will positively impact our business and allow us to grow within their portfolio over time,” concluded Mr Booth.

Co-founder and Executive Chairman of eGuarantee, Cedric Fuchs, a real estate and insurance industry veteran who co-founded property investment giant Charter Hall, believes that lease bonds will revolutionise the leasing landscape. 

“It’s the first and only alternative which presents benefits for both tenants and landlords, and brings real value, releasing tenants from traditional bank guarantees, while introducing operational efficiencies by digitising the customer journey, doing away with paper-based processes.“eGuarantee is the exclusive Australian distributor of the Assetinsure Leasebond product. Leasebonds are issued by Assetinsure as agent for an international insurer and are reinsured by a panel of globally rated AA/A- reinsurers. Being issued on behalf of international insurers and reinsurers, Leasebonds are not APRA regulated products but Assetinsure, being an APRA regulated entity provides customers the comfort of dealing directly with a regulated Australian entity.”

“The way we emerge from this pandemic will be key to our future prosperity and growth. Our first of its kind lease bond offering provides businesses with quick access to existing funds that can help them to get back on their feet, support growth strategies, and empower positive leasing relationships with landlords.”

“The ability to unlock capital currently held up in bank guarantees, presents enormous opportunities for businesses while having the potential to reinvest billions into the Australian economy. With Australia expecting to see a contraction in our next quarter GDP reading, encouraging capital spending will be a critical component in our post-lockdown exit strategy,” said Mr Fuchs.

We’ve also assisted many tenants to convert their bank guarantees mid-lease to lease bonds, which has led to several major landlords initiating deeper discussions around lease bonds and the eGuarantee system adoption.

Mr Fuchs also makes the point of the many advantages for landlords, including the digitisation of landlord portfolios of bank guarantees, agnostic of bank, to provide a full digital experience. 

To learn more about leasing a property read Small Business Answers guide.