Most business owner knows that the strength of their team can make or break long-term success, yet day-to-day staff issues can leave you feeling overwhelmed and irritated.
What should you focus on first? How can you create a workplace where your people thrive?
At Munro’s, our seasoned business advisory team in Perth understand that your people are your greatest asset. They take a holistic approach to staff improvement, blending clear, practical strategies with ongoing support to help ensure your team not only meets short-term targets, but, also builds a sustainable, positive culture for the future.
When you’re ready to talk about what we could do for you, please book a meeting or send an enquiry.
People often have a lot of discretion in the way they work and the effort they exert. If their role in achieving your strategy isn’t crystal clear, they aren’t adequately motivated (by more than monetary incentives) and they aren’t held accountable, then business performance can suffer.
Solution
Get structuring right with higher employee standards.
Outcome
Improved staff performance due to clear goals, roles and accountabilities.
video key points
Presented by: Drew Pflaum
video transcript
Why don’t staff “perform”?
It’s not likely because they don’t want to, consciously at least.
It’s more likely because:
It’s probably a combination of these.
So, what are you to do about this?
You need to set out in clear terms how their role contributes to achieving the goals of your strategy.
But, to do this, you need to be crystal clear on what your strategy is.
You should then follow what reputable science shows as two of the key levers for sustained success:
Achieving this will be difficult. By that we mean it’ll require conscious effort and continuous implementation. But the actual building blocks don’t need to get too complicated.
We say keep things as simple as possible, to enable everyone to remain focused and working together to resolve issues for the long-term.
As we’ve mentioned in various places of our website, your people are the source of your competitive advantage. Don’t under-appreciate how influential their discretionary efforts play within the overall success of your business. Rather, commit as all great leaders do, to uplifting your teams understanding, capability and motivation.
Get in touch with us if you want to explore how we can help you, or join the free tier of the Munro’s Business Academy to assist your learning of what can be done.
In that video you just watched, we mentioned some research.
If you’d like the references, simply head on in to the Munro’s Business Academy and you can find them on the Reference page.
Turnover is a particularly expensive problem as many jobs require organisation-specific skills that can take years to cultivate. Scientific evidence shows that both high trust and high purpose increase productivity, reduce job turnover, improve job satisfaction, and make people happier and healthier.
Solution
Develop a high-trust, high purpose culture.
Outcome
Reduced recruitment hassles and costs (average total recruitment costs for professional positions can be nearly one year annual salary).
video key points
Presented by: Drew Pflaum
video transcript
Losing staff has to be one of the biggest costs to many businesses.
We’ve seen reports estimating the average total recruitment costs for professional positions at nearly one year’s annual salary.
The costs of staff turnover aren’t just the advertising, recruiter fee and interview costs. There’s the waste from lost output, both directly from reduced employee counts (at least temporarily) and indirectly due to the hours leaders and managers have to commit to recruitment. Plus there is the additional training costs for the new recruit.
It’s inevitable staff will leave, but how do you extend the productive tenure of staff?
You don’t follow some unsubstantiated “high-performance” framework. Rather, you take advantage of what science has investigated and found to work.
The critical scientific research we’ve read tells us it comes down to building a thriving high trust, high purpose culture.
High trust cultures are motivated to get to the best decisions and have thriving, safe conflicts (or in other words, debates). Furthermore, they have team members who truly work as a team and trust one another to get the requisite work done.
High purpose cultures have team members positively motivated to achieve the big audacious mission – the “purpose” of your business. To help whoever it is your customers are, with whatever painful problem it is your business is driven to resolve for them.
Building a high trust, high purpose culture demands leadership who have set out a clear, motivating strategy. Who live by winning values. Who continuously communicate consistent messaging and overcome the false dichotomy of high standards and being good to people.
So, what is your gut telling you right now? Do you have a thriving high trust, high purpose culture or do these insights perhaps make you feel a bit guilty for falling short?
Don’t feel shame about this. A great many of us have been there. That’s just the journey of business. To learn what is best and continue to get better.
If you want to increase productivity, reduce staff turnover and generally have a happier workforce, don’t feel shame for not being your best now, actually do something about it.
In that video you just watched, we mentioned some research.
If you’d like the references, simply head on in to the Munro’s Business Academy and you can find them on the Reference page.
From time to time employees attend training workshops and seminars to improve business performance. However, besides a training booklet and some scribbled notes, nothing much ever changes, wasting a lot of time and energy.
Solution
Design training to succeed.
Outcome
Training with a positive return on investment and over time a positive force driving your sustainable competitive advantage.
video key points
Presented by: Drew Pflaum
References page.
video transcript
Transcript available on the Improve Programme – Upskilling for Small-Medium Business Owners, Leaders & Rising Stars page.
It’s not uncommon for people to be promoted into management positions without any management training. Some cope, but many take a while to learn things the hard way, whilst some others who were once star performers may never be their best again. Even when there is some management training, it may be sporadic and ineffective.
Solution
Coaching and just-in-time learning.
Outcome
Better leaders.
video key points
Presented By: Drew Pflaum
With Thanks To: Ayman Al-Abdullah
References page.
video transcript
Transcript available on the Business Improvement Workshops, Sprints & Programmes page.
First Session is FREE (incl. GST)
Upskilling Event for Business LeadersClaims of being a ‘Top 2% ranked Australian Accounting Firm‘ (and similar claims) are based on two separate assessments conducted by Munro’s on 9-10 August 2023 and 1 December 2023. The ranking is derived from a comparison of the total of each accounting firm’s overall star rating multiplied by each firm’s quantity of reviews as shown on Google Maps. A total of 4,235 Australian accounting firms listed on Google Maps were identified for the earlier assessment, and a total of 4,301 for the latter assessment, which may not represent a complete list of Australian accounting firms. Munro’s claims are based on Munro’s best estimation and represent a snapshot collected at the time of each assessment. If the assessment was to be conducted today, then it is likely that Munro’s ranking would have changed – Munro’s may or may not be in the Top 2% today. Also, the methodology does not account for other potentially relevant factors such as quality of service, expertise, or client satisfaction beyond Google Maps reviews.
video key points
Presented by: Drew Pflaum
video transcript
In December 2023, we conducted a review of Australian accounting firms on Google Maps, based on star rating and quantity of reviews.
Out of the 4,301 Australian accounting firms we identified on Google, Munro’s ranked number 44, placing us in the Top 2% of Australian Accounting Firms. We’re thrilled to share this fact with you and share those reviews on our website. We’d also like to thank all our clients who left us those wonderful reviews.
Thank you.
Munro’s have helped build our business from strength to strength for over 40 years! No problem or question has ever been too large or too small and all have been dealt with in a timely and efficient manner. Thanks to Simon, Carl and the team for your continual excellent service.
One of the best decisions we made was switching our accounting services to Munro’s. Especial thanks for Saul and Brian for their extensive knowledge, understanding our business requirement, goals and most importantly keeping us compliant. Extremely happy to engage with this organisation and team.
Congratulations Munro’s on reaching this significant milestone!
Our family business has been with Munro’s since its establishment 50 years ago. They have supported our business through 3 generations and we are confident that our relationship will continue to grow for many years to come. They are professional, reliable and understanding and we think of them like an extension of our family. We would highly recommend them to anyone!
I required some complicated advice from a business accountant on an urgent matter. It involved legal issues and advice as well as accounting advice.
I contacted Drew Pflaum of Munro’s via the website, and he got back to me very promptly.
Drew showed that he was well able and indeed very keen to think outside the square.
Nothing was too much trouble and he has some very valuable professional contacts that he is able to consult with if needed.
With Drew’s obvious intelligence and honesty coupled with an enviable network of contacts, and his keen desire to achieve the best results possible in a timely manner, I have no hesitation in recommending him for any sort of business accounting advice.
Drew and the team at Munros have made my cryptocurrency accounting a breeze primarily for tax purposes and to ensure all previous years were reconciled correctly given my previous tax agents literally had no idea despite their knowledge of my crypto holdings for the past 2 tax years. Well done Drew, well done Munros for specialising in this space. Great job!!
I was looking for a business advisor for my small business in the Perth area and stumbled across Munro’s. On the website I was able to conveniently book an initial meeting with them to find out how I could achieve long term growth. One of their business accountants, Drew, promptly replied back and even helped accommodate a meeting on an earlier date. I met with him at their Perth office, and he was beyond helpful. After the meeting he followed up with an email, comprehensively outlining what we had discussed with great tips to help me move forward with growing my business. I really appreciated that Munro’s was willing to take the time to meet with me and help me even though my business is still a little too small to pursue Munro’s services. Drew didn’t try and upsell me and was so helpful and realistic with what I should do at this current stage in my business.
The team at Munro’s has been of great assistance to me over the years, with a particular special mention to Drew Pflaum. They’ve helped me navigate some complex tax matters with proactive, insightful, and pragmatic advice. I highly recommend them for anyone seeking expertise in this area. Thank you again to the whole team and especially to Drew.
Drew and the team at Munros have managed our tax for the past 4-5 years. Drew has the expertise to resolve all our queries and always provides excellent service. We would highly recommend Drew and team.
I highly recommend Drew Pflaum at Munro’s for any matter relating to property, crypto, business tax, etc. I’ve recently met with Drew and he was very diligent and knowledgeable in explaining the best possible options/solutions I have available for my business. Drew is definitely the go-to person for any complex tax matters.
We followed Mike Beer when he joined Munros and have been with them ever since. Mike has been a huge help over many years. He is always available to answer even the most basic/ extraordinarily naive questions, and always with a generous and helpful attitude.
Great business accountants. Helped with company tax return. Convenient location and nice office in Perth. Special thanks to accountant, Drew Pflaum. Highly recommended.
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