In Australia, the skills gap has become a critical concern for business owners across various industries. As the market continues to evolve, the need for specialized skills is more pressing than ever. However, many Australian business owners are increasingly frustrated by their inability to find workers with the necessary expertise to meet their growing demands.…
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The concept of work-life balance often feels like a distant dream. The constant pressure to be available 24/7 can take a toll on employees’ mental and physical health, leading to decreased productivity and job satisfaction. However, research consistently shows that employees who enjoy a healthy work-life balance are happier, more engaged, and ultimately, more productive.…
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As small to medium-sized enterprises (SMEs) across Australia grapples with declining revenues, many are holding back on growth and shifting their focus to sustaining operations. The latest SME Sentiment Tracker by Fifth Quadrant and Ovation reveals that 40% of SMEs have experienced a drop in revenue compared to last year. Sectors like distribution, retail, production,…
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Let’s face it, running a small business is a rollercoaster. You’re constantly hustling, adapting, and hoping for the best. But economic uncertainty can feel like that first drop on a rickety rollercoaster – scary and unpredictable. A report by The National Bureau of Economic Research found that small businesses are twice as likely to close…
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Starting a business is exhilarating yet challenging. Whether you’re a seasoned entrepreneur or just diving into the world of business ownership, the statistics can be daunting. According to SBA, 80% of small businesses survive the first year. However, only about 50% of small businesses survive beyond the fifth year. While these numbers may seem discouraging,…
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Many small and medium-sized enterprises (SMEs) chase short-term gains. But for true longevity, SMEs need to prioritise sustainable growth strategies. This means building a solid foundation that fosters long-term success while adapting to evolving markets and customer needs. Why is Sustainable Growth Important for SMEs? Here’s why a focus on sustainable growth is crucial for…
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Do you ever feel like you’re constantly battling for skilled workers in your local market? You’re not alone. Attracting and retaining top talent is a major frustration for businesses of all sizes. According to a McKinsey report, 82% of executives surveyed believe that their companies will need to hire new talent over the next five…
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Understanding Key Performance Indicators Key Performance Indicators (KPIs) are essential metrics used by organizations to measure their progress towards achieving specific goals and objectives. They provide a snapshot of performance, highlight areas that need improvement, and help drive strategic decision-making. When it comes to KPIs, the principle of “the critical few” is crucially important. The…
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The fire burns bright: you’ve identified innovative strategies to propel your business forward. But then comes the pit in your stomach – the struggle to translate those brilliant ideas into reality. This blog post tackles the two biggest roadblocks on your innovation journey: aligning strategies with resources and the fear of making irreversible mistakes. The…
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Organisations are constantly seeking strategies to maximise return on talent. As the competition for skilled professionals intensifies, companies are realising that investing in their human capital is crucial for sustainable growth and success. In this blog, we’ll delve into the concept of return on talent and explore how businesses can leverage it to drive innovation,…
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