July 2023 - Bay of Plenty Business News

July 2023 BAY OF PLENTY BUSINESS NEWS 11
Embracing workplace
wellbeing through the
winter blues
It’s getting to the time of the year when winter blues begin to set in.
The temperatures have well and truly dropped, flu season is in full
force, and the summer holidays feel a bit far out of reach.
WORKPLACE WELLBEING
> BY BRIDGET SNELLING
Bridget Snelling,
Xero New Zealand Country Manager.
When it
rains its
good to
have an
umbrella
A
gloomier
atmosphere
in the workplace can
be normal this time of
year, so it’s a good time for
small businesses to check
in with their staff and think
about ways they can continue
offering wellbeing support.
All workplaces play a central
role in building people’s
resilience and positive wellbeing,
so they can better cope
with setbacks, take advantage
of opportunities, and be productive,
contributing members
to their families, communities
and workplaces.
There’s no doubt the added
pressure of high inflation, talent
shortages, the Covid-19
pandemic, and uncertainty
about the future have all created
a tough working environment
these last few years.
This is the backdrop for
many small business owners
when it comes to looking
after wellbeing, both their
own and their employees.
The reality is it can be
really hard to know how to
address it or get started.
It can also be hard to juggle
with everything else. But
focusing on wellbeing doesn’t
require revamping your whole
way of doing business. It also
doesn’t mean living a life of
yoga and meditation.
It can be about finding
simple ways to build a culture
of appreciation in your workplace.
Or changing attitudes
towards talking about wellbeing
in your workplace and
asking for help.
It doesn’t need to be a big
change or cost huge amounts
of time or money – but it is
something Kiwi employees
are yearning for.
Choosing to have walking meetings is a
great way to get you and your employees
out and about during the day to get some
fresh air, some Vitamin D and a change of
scenery.”
For example, supporting
flexibility around sickness at
this time of year in particular
is a crucial part of creating a
positive work environment.
Colds aren’t just being
passed around the office at a
rapid rate, they are rampant
across schools and daycares,
and parents are juggling a
vicious cycle of frequent
sickness at home. Where possible,
giving staff the support
to work from home so they
can tend to sick children is
one way of easing the burden.
Encouraging your staff to
design their best work day
by prioritising flexibility for
exercise, and time outdoors is
another way of creating a positive
environment through the
dreary days.
Choosing to have walking
meetings is a great way to
get you and your employees
out and about during the day
to get some fresh air, some
Vitamin D and a change of
scenery.
Of course, ensuring your
staff have access to tools to
reach out for extra support
when the going gets tough is
another top priority.
The Xero Assistance Programme
(XAP) gives Xero
starter, standard, platinum
or ultimate subscribers, their
employees, and their families
free access to confidential
mental health counselling and
resources.
Leading a wellbeing culture
is something we can do
every day, but at this time
of the year don’t forget it’s
important to show both your
staff and yourself some extra
TLC.
Back in October 2022
I discussed the merits
or considerations of
buying into or starting a franchise
business whilst we were
looking at the potential of a
recession – https://bopbusinessnews.co.nz/franchising/
recession-storm-clouds-looming-is-now-a-good-time-topurchase-a-franchise/
The reality is economies do
go through cycles and unless
you operate a business for a
very limited period, and are
very lucky, you will at some
stage be operating in a recession
or economic downturn, a
period of high inflation, tight
labour markets or a combination
of these factors.
Back to weather cliches, it’s
not just raining, for many it’s
pouring.
If you own an SME in New
Zealand, it probably feels like
it has both been raining for several
months, both figuratively
and literally. Yes, it’s official,
the New Zealand economy is
in recession.
Add this to an already tight
labour market, high inflation
and supply chain challenges
and you may ask, “who would
want to be in an SME business
or a franchise?”
If it was a choice of independent
SME or franchise, on
rainy days there are three reasons
why I would choose to be
FRANCHISING
> BY NATHAN BONNEY
Nathan Bonney is a director of Iridium Partners. He can be
reached at nathan@iridium.net.nz or 0275-393-022
under the umbrella of a franchise
every time.
Marketing power
Individually owned and operated
franchises have significant
advantage over similar
independent businesses when
it comes to marketing which
can help them outperform their
non-branded cousins.
Firstly, they benefit from
having a brand, and market
awareness. A group of 20
retail stores will inevitably
have a larger market presence
than 20 individually named
businesses. This can lead to
greater foot or web traffic,
more enquiry, and this can
flow through to sales.
The second and significant
benefit of being in a franchise
is the power created by collective
marketing.
The first thing that many
businesses are inclined to do
when times get tough is to cut
their marketing spend. Unfortunately,
as revenues drop, this
is exactly the time that businesses
need to be increasing
their efforts to increase sales.
If a system of 20 franchises
are contributing 5% of revenue
to group marketing, each of
the 20 franchised businesses
are effectively benefiting from
having spent 100% of their
revenue on marketing.
Purchasing power and
supply chain
The same principles apply to
purchasing and supply chains,
the collective power of a franchise
system is significant.
It can be in areas other than
just pricing based on volume.
Franchise systems can
leverage their collective purchasing
power by reducing
transport costs, preferential
supply arrangements (including
access to limited stock)
through to payments and
terms of trade.
You are not alone
For many franchisees, during
challenging economic times,
as beneficial as brand awareness
and marketing will be in
driving sales through the door,
and limiting costs of doing
business and improving supply
chain as part of group may be,
it’s not these factors that top
their list.
Good franchise systems
may have best in class products,
processes, and business
practices, but they also harness
the collective knowledge,
experience and sense of
community from being part
of a group. And it’s often this
‘being in business for yourself,
but not by yourself’ that get’s
franchisees through rainy days.
Our local wealth management experts Sarah and Simon, will
work with you to guide you toward your long term financial goals
Contact us
Sarah Ashby: +64 27 211 0760
Simon Bradley: +64 27 427 3899
www.jarden.co.nz/wealth-management
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www.Jarden.co.nz. Jarden is not a registered bank in New Zealand.