Businesses considering a restructure should look beyond short term savings and make sure their organisation is refocused on core business. Be ready to take your best performers with you when economic conditions improve. We look at the top ten DO’s and DON’Ts of redundancy according to international business leaders.
In such a fast-paced industry, it is not surprising that many hospitality businesses find their licensing and other legal arrangements have fallen out of date. Where profit margins are often quite small, it is critical that hospitality businesses do not expose themselves to avoidable legal difficulties.
In this economic climate, many businesses are looking to minimise their costs, leading to the current rise in redundancies. In response, the Federal Government last week allocated $298.5 million to help employees made redundant re-enter the workforce.
Hospitality businesses are an integral part of the business community, not just providing us with our daily coffee and lunch, but contributing significantly to the economy. If you are an hospitality business owner, see how typical issues can affect the operation of you business.