February 2024 - Bay of Plenty Business News

February 2024 BAY OF PLENTY BUSINESS NEWS 3
Kiwi businesses ditch hybrid or
remote working for return to office
GLOBAL RESEARCH INDICATES A SHIFT IN SME PRIORITIES FOR 2024
New research released in
January has revealed
that 84.2% of SMEs list
rising costs as their top business
concern.
The research was conducted
by Peninsula Group, leading HR
and workplace relations advisory
services, and surveyed SMEs
across five countries – Australia,
Canada, Ireland, New Zealand
and the UK – to understand the
top priorities and concerns for
employers in 2024.
The global survey revealed:
• Growth is the main business
goal for 44.7% of SMEs; a significant
drop from 58.7% this
time last year, reflecting the
tough economic environment
faced by businesses around
the world. Australia and New
Zealand appear hardest hit,
with 22.4% and 26.6% respectively
listing survival as their
main goal for the year.
• It’s more positive news for the
UK and Ireland, however, with
just 18.8% in both countries
listing survival as their top
goal, compared to 38.4% and
34.7% respectively a year ago.
• Rising costs are the top concern
for 84.2% of all businesses,
while staffing continues to be
a big issue. Labour shortages
came in second highest at
45.6% with retention in third
place at 41.5%.
• The cost-of-living crisis and
staffing shortages are having a
significant impact, with 56.3%
of employers offering financial
remuneration to help retention.
Canada ranked highest
here, at 64.9%.
• Those who are unable to give
financial incentives are turning
to reward and recognition
to aid retention; this saw a
huge 131% increase YoY. While
mental health support was
highly valued in all countries
last year, this year it’s only in
the UK where mental health is
the second highest retention
aid, with 48.7% of employers
continuing to offer it - an
increase of 8% from last year.
• Employers are also getting creative
as they look to offset the
ongoing skills shortage with
46.5% investing in upskilling
and training their existing
staff. Apprenticeships are
also on the rise, with a 36%
increase globally. Canadian
employers especially are turning
to apprentices with a massive
217% increase YoY. 25.7%
of employers list recruitment
as their biggest challenge staffing
wise, with pay increase
requests coming in second at
22%.
• In terms of working patterns,
despite all the headlines surrounding
a 4-day work week
it’s clear that this is not a reality
for many businesses. Only
2.2% of SMEs globally have
moved to a 4-day working
week, with a further 0.6% having
trialled it and found it did
not work for them. Instead,
50% of all employers say that
their employees are all in the
workplace full-time, 14.7%
have flexible working hours,
and 10.1% have made hybrid
working a permanent policy.
David Price, CEO at Employsure,
says “Despite the tough economic
climate, there is an air of
optimism amongst small business
owners as we move into 2024.
What’s been interesting to see
is that recruitment continues to
be a struggle when it comes to
staffing and how that may shift
this time next year after a year of
increased migrant worker quotas
under a new government.
“What was unexpected is that
opting for flexible working hours,
rather that remote or hybrid
working models, has been the top
choice to aid employee retention.
“Combined with the finding
that more than half of businesses
have returned to the office full
time this suggests that there’s
been a shift in priorities of
employers and employees needing
more collaboration and team
engagement, therefore returning
to a permanent office-first model
but with a little more flexibility.
“Globally, it’s indicated that
this will be a tough year for many
businesses, but there is also a
mood of opportunity. Employers
are seeing the value in retaining
employees and, in turn,
employees are reaping the
benefits. More than half were
given a pay raise and employers
are looking at creative
ways to retain employees, such as
upskilling and training opportunities,
or flexible working where
a pay raise is not possible.
“As January starts – traditionally
the time of year when most
people look for new jobs
– it’s no surprise
that business owners
are looking at
ways to upskill
and retain their
own employees,
rather than
having to spend
time and money
recruiting.”
David Price, CEO, Employsure
Take control of your future.
Now is a good time to sell.
0800 225 999
L I N K B U S I N E S S . C O . N Z
Mount Maunganui Motel Business $2,795,000
Mount Maunganui
· Trading figures never seen before
· Operational options to suit new owners
· Long, strong lease tenure
· Net Profit of $1,000,000+
linkbusiness.co.nz/HC00394
Gordon Fridge 022 156 9330
gordon.fridge@linkbusiness.co.nz
Electrical Services $2,595,000
Tauranga
· 30+ years of success, market leader
· Strong financial results
· Cash surplus approx $969k
· Wide range of services
· Key management staff in place
linkbusiness.co.nz/BOP00650
Steve Catley 021 341 117
steve.catley@linkbusiness.co.nz
Orchard Services $1,780,000
Tauranga
· Cash surplus to one working owner $500k+
· Essential service in the horticulture industry
· Specialized well-maintained plant and
equipment
· Consistent revenue and profit growth
linkbusiness.co.nz/BOP00610
Peter McAdam 021 841 691
peter.mcadam@linkbusiness.co.nz
Successful Home Staging $1,200,000
Bay of Plenty
· Trading 15+ years
· Sucessful real estate agents as clients
· Increasing turnover, $800k p.a. approx
· Extensive collection of furnishings
High Performance Sports Bar $1,150,000
Tauranga
· Gaming machines with high turnover
· Good strong reputation
· Growing sales and profits year on year
· Return on Investment 29% and growing
Profitable Plumbing $684,000
Bay of Plenty
· Offers a comprehensive range of services
· Experienced staff, strong reputation
· Residential, commercial & industrial customers
· Modern plant & equipment
linkbusiness.co.nz/BOP00654
Peter Redward 027 492 0453
peter.redward@linkbusiness.co.nz
linkbusiness.co.nz/BOP00658
Theresa Eagle 021 289 0949
theresa.eagle@linkbusiness.co.nz
linkbusiness.co.nz/BOP00662
Neil Cammell 027 2133 100
neil.cammell@linkbusiness.co.nz
Import/Distribution $1,300,000
Tauranga
· Mainly B2B, simple to operate
· Highly profitable, SDE $469K
· Potentially relocatable
· Low staff numbers
Fully Managed Childcare Centre $499,000
Tauranga
· Fully managed mid-sized childcare centre
· Recently refurbished outdoor area
· Good location & stable staff
· Opportunity to grow revenue
Exterior Building Washing $410,000
Tauranga
· Turnover $400k+ per annum
· Cash surplus approx $200k per annum
· 3 vehicles & custom trailer included
· Full training from franchisor
linkbusiness.co.nz/BOP00647
Roger Brockelsby 027 919 5478
roger.brockelsby@linkbusiness.co.nz
linkbusiness.co.nz/BOP00661
Roger Brockelsby 027 919 5478
roger.brockelsby@linkbusiness.co.nz
linkbusiness.co.nz/BOP00652
Nols Bertram 027 238 1450
nols.bertram@linkbusiness.co.nz
Event Equipment & Marquee Hire $395,000
Tauranga
· Event equipment and marquee hiring
· Events range from weddings and other events
· Includes all furniture and other items required
for weddings
· Exclusive to affluent Waikato & BOP regions
linkbusiness.co.nz/BOP00651
Peter McAdam 021 841 691
peter.mcadam@linkbusiness.co.nz
Ride On Mowing Contractor $170,000
Bay of Plenty
· Consistent cash surplus of $90k+
· 3-4 days per week
· Simple work, quality mowers
· Work from home, no overheads
linkbusiness.co.nz/BOP00672
Peter Redward 027 492 0453
peter.redward@linkbusiness.co.nz
Hair Salon $99,500
Whakatane
· Hair Studio enjoys high foot traffic and visibility
· Loyal customer base built over the years
· Comes complete with top-of-the-line
equipment
· Experienced and skilled staff
linkbusiness.co.nz/BOP00686
Ray Owens 027 840 9274
ray.owens@linkbusiness.co.nz
All LINK NZ offices are licensed REAA 2008