So you are the owner of a business. Or you are in the upper echelons of the management of a company. There are people depending on you for guidance and advice related to their work and also to provide them with a pay check at the end of the month. There are customers depending on you to deliver over and above the expected quality. Your standing in the society is daily scrutinized by the same society. Though it may seem like all you ever do is sit in your office and play games, you too are walking a tightrope, trying to keep your employees, customers as well as the society happy. One such way to ensure that you keep all parties happy is to adopt good business practices.
Good business practices are a norm of business followed by many organizations. You may already be following them, but might not know them as good business practices. Locking yourself up in your room and getting your secretary to lie about your whereabouts when a particularly difficult customers or your tax accountant comes to visit is definitely not it. Here are some pointers.
Human Resource Management
Good human resource management is a big component of good business practice. Does your company have a dedicated HR personnel to handle your employees? In some small companies, sometimes one of the administration staff doubles has HR. But if your company is bigger than 35 people, make sure that you have a dedicated HR person to ensure that your employees are kept happy and satisfied.
Are you paying your statutory requirements? Or are you hiding behind a file cabinet, along with your financial records when your tax return accountant Gold Coast arrives at the end of a financial year? Do you audit your own financial records for the year? Do you pay the required mandatory taxation to the government without fraud? Ask yourself these questions and if the answer is no, then no, you are not following good business practices.
Corporate Social Responsibility
Many companies and business owners think that as long as they keep their customers and employees happy, they are following good business practices. This is not so. There is a whole society that could affect your business if you do not have a good standing with them. Therefore if you did not have a proper CSR program, start one. Start small at the beginning. This maybe something as small as providing a lunch meal to the nearest children’s home. Believe it or not, but your employees will also get a kick out of it too!