On 6th April 2022 the employer’s national insurance rate increased to 15.05% from 13.8%. Employer’s NI is an additional tax liability payable by employers on the gross wages of their employees. For a company with 10 employees and an annual payroll bill of £300,000 this is an annual increase in costs to the employer of £3,750.
How to Create a High Performing Business
3 May 2019
Mark Friend
Payroll, People, Building a Business
High performance businesses stimulate more effective employee involvement and commitment so they achieve increased profits, improved productivity and higher levels of customer loyalty.
We are living in uncertain times. The highest performing businesses will, by their very nature, ride out the storm more effectively than their competitors.
So how do you create a high performance organisation?
A truly high performance business will deliver higher levels of productivity, customer satisfaction, sales and profit, and will help you retain employees.
The backbone of a high performing business is a resilient workforce. You need to build a team that is highly motivated, high performing and consists of people who look forward to coming to work every day because they feel they are a part of the company and the bigger picture.
As well as hiring the right people, you need to create a culture that allows your team to perform at a high level. It all starts with communication.
You need to communicate the vision, strategy, values and beliefs of your business in order to create a shared purpose. They need to buy into your vision for the company so that they feel invested in its future success.
Next, you must empower your people. Set their high level objectives and communicate these to each member of your team. Explain how each objective contributes to the overall success of the business.
Now step back and give your people the space to get on with working towards those objectives. Be present and available for when they need to escalate issues. Set regular team meetings but never micro-manage. It is also important to create appropriate reward strategies so that your high performing people feel rewarded for their commitment, and remain motivated.
Remember, perfection is not attainable, not even in the very highest performing organisations. However, if you aim for perfection, you might just end up a notch below that, which is where a high performance business should be.
As a first step you may want to set down your vision and your strategy to achieve this. If this is of interest why not discuss with us a strategic planning day. If you are further advanced and have a clear strategy but are struggling to implement it then we have the contacts to make your vision a reality. Contact Mark Friend for more details.
