Today, we launched our Changing world of work reports for Australia and New Zealand. Through this research, conducted in partnership with Lonergan Research, we found that managing employee processes is negatively impacting the mental health of almost half of Australian employers and more than a third of New Zealand employers.
The reports shine a light on the workforce challenges that your clients face, the workplace experiences of their employees, and the critical role of technology in this changing world of work. To help you navigate these challenges, I was delighted to showcase our suite of employee management tools in Xero, and launch an Australian beta trial of Xero Payroll plus Planday.
The challenges facing small business employers
To produce our Changing world of work reports, we surveyed small business leaders in Australia and New Zealand, to gain an understanding of the small business workforce issues impacting them most. Our reports found:
- business disruption caused by COVID-19 is still one of the biggest challenges for 58% of small business employers in Australia and 66% in New Zealand
- small businesses are struggling to stay on top of requirements around employee entitlements and payments, with around half agreeing that it’s stressful and confusing
- 37% of small businesses in Australia and 29% in New Zealand are worried their staff will be paid incorrectly due to confusing payroll obligations
- the impact of inflation on costs and services is among the top challenges of 48% of Australian employers and 65% of New Zealand employers
- to secure talent, employers are expecting to pay top dollar, citing a rise in staffing costs and a rise in salary expectations as being among their top challenges over the next 12 months
The reports found that small business employers are right to be concerned. Many of the employees we surveyed in Australia and New Zealand named compensation as their top incentive when looking for a new role. The reports found:
- nearly three quarters of employees rank pay and bonuses in their top three important factors when considering a role, with more than a third ranking it number one
- 57% of Australian employees rank flexibility of hours as a top factor, despite 63% saying they are unable to work flexibly
- almost a third of employees in Australia and New Zealand are planning to look for new opportunities over the next 12 months
Our suite of employee management tools
The good news? Almost half (47%) of small business employers in Australia and two-thirds in New Zealand (67%) who use software to manage business processes, found it helped eliminate manual paperwork. In addition, 47% of Australian employers and 58% of New Zealand employers found it sped up processes.
These tools make it easier for employers to manage their employees, giving them the tools they need to create an empowering and positive experience, which helps them attract and retain talent in an increasingly competitive environment. We were also excited to launch a new beta trial of Xero Payroll plus Planday.
The Planday beta is available now for eligible small businesses using the Retail and Clerks Awards in Australia. This integration will empower your clients with seamless scheduling of time and attendance, so they can enjoy accurate payroll data and compliant rostering. It also enhances the employee experience through self-service tools like the Planday app.
Empowering your clients to succeed
The Changing World of Work reports show us how important our employee management tools are for business owners in Australia and New Zealand, and what a vital role you play in helping them create an empowering and positive experience for employees. We’re committed to making this easier and look forward to evolving our suite of tools in partnership with you and your clients.