Hot off the IRD Press. On 1 April 2015 changes to the tax treatment of employee allowances will take effect. Allowances are payments made to an employee in addition to their salary or wage and can include payments for accommodation, food or clothing. The changes clarify the tax treatment of employer-provided accommodation, accommodation payments and other allowances or payments made by employers to cover employee expenditure. It's worth checking out the IRD website every so often to see whether any of their recent "news" updates apply to you. That being said, Slaters tends to keep abreast of the developments and if there are any major changes or developments, (such as the recent verification requirements due o the Money Laundering Bill) we will notify our clients and let you know. Employee wages and costs are often one of the greatest outlays for any business and it's important to remember that good team members are often worth hanging on to. When you find the right people for your business who work in with your goals and expectations as seamlessly as is possible, it's important to treat them accordingly. This can involve a number of strategies that maintain workplace happiness and high productivity. Successful Employment Strategies for Small Business
- Direct contact with business owners in the form of weekly meetings/open door policy.
- Bonus time off. This often leads to added productivity and a sense of extra rewards for the team members.
- Great conditions.
- Refrain from micromanaging. Allow your team to make their own decisions at times. Allow this in areas that are not too risky if something goes wrong.
- Role model hard work ethic - This flows from the top down as much as possible.
- Flexibility where possible. If your business can support it, allow a little flexibility for your team regarding time off in low patches etc. There are a host of possibilities.