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Solutions for your business to help start 2020 positively…

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Firstly, let us take the time to wish all our clients and friends a very happy and prosperous New Year. 2020 comes to us all with a lot of uncertainty but we will weather any financial storms that may result from Brexit with our patented Irish resilience. As we have bid farewell to the previous decade and turned the page into a new one, thoughts often turn to change and what we can do to change our selves, our positions in life and our career trajectory. We here at EcovisDCA know that all of our clients and friends are incredibly hard working and focused and as such do not wish to start the decade off on a negative footing with a list of changes to be made, rather we have decided to focus on solutions to make your business and financial life run smoother in the years ahead.

 

Update your Payroll System:

As we are all aware, there has been a major overhaul to the PAYE system that has recently come into effect in Ireland. We have discussed these changes in detail in the past, and how they will affect the day to day running of your business, and whilst your payroll staff have long been setting up for this event, it is a good idea to start this new decade off with a review of your new system in case there are ways in which it can be more efficient for you. These PAYE changes are the perfect opportunity to update your current payroll software if needed.

2019, The Year in Review:

Whilst it is important not to dwell entirely on the past, whether 2019 was a more positive or negative financial year for your business it is essential to take a glance into the rearview mirror and assess how your finances were in 2019. Perhaps there are areas here that can be utilised more to your benefit.

Goals, Goals, Goals:

A new year always comes with new personal goals, and a new decade is the perfect opportunity to set some business and financial goals for your business. What are the daily/weekly/monthly steps you can take over the next 12 months to get your business closer to that end goal? Goals can be an essential method of planning out the future of your business.

Deadlines:

As we have spoken about before, Revenue have been overhauling their tax systems and clamping down on evasion and late filing. As we start this new year, take note of all the essential deadlines for the coming year and begin working towards meeting them.

These are just some small ideas to start this new decade of your business off on a positive and energetic note and start as you mean to go on.

Should you have any concerns or queries on any business or financial matters, please don’t hesitate to contact us here at EcovisDCA. We are looking forward to working with you all during the new roaring 20’s.

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~ DCA PARTNERS, DECLAN DOLAN & EAMONN GARVEY

DELEGATION IN BUSINESS

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Delegation is defined as being “the act of giving control, authority, a job, a duty, etc., to another person.” You could be forgiven for thinking that delegation is just another buzz word used in management meetings or team building exercises but the truth is that whether your business is small and just now finding its feet or an enormous multinational corporation, delegation is an absolutely essential part of all aspects of business from the ground up. It has been noted that delegation is not a task, but an on-going process that becomes an integral part of a successful business.

 

We all know the saying “if you want something done right, do it yourself” and we are all guilty of reneging on delegating when we find ourselves frustrated or in a time crunch. Whilst this is a perfectly acceptable and sometimes expected practise, continually refusing to delegate can have serious professional and personal repercussions including exhaustion, low morale depression and burnout. It is essential to employ more long-term thinking practises. The process of delegation can also be beneficial in avoiding the pitfalls of micromanagement wherein your employees may not feel valued or trusted to carry out certain tasks. Delegation is not easy, but sometimes the most fulfilling and worthwhile things are difficult at first. Here we have collected some of the most important things to bear in mind, to help you engage in effective delegation in your workplace.

 

Plan ahead:
Long-term thinking is essential in all aspects of business, but particularly when it comes to delegation. It is important to know in advance what it is you want to achieve and be able to express this to your colleagues.

 

Know when to delegate:
Whether you are in a managerial or a more secondary role, the most important aspect of delegation is to know what tasks you can delegate and to whom. There will always be some tasks which should be completed only by you and it is important to identify what these are in order to separate them from all other tasks. Once you have identified your own most critical tasks, you can then make a note of those you feel could be completed by others – and if applicable assign those tasks as necessary. This frees up your own time to be used more wisely and also shows a level of trust in your employees/colleagues which they might not have felt previously.

Know which tasks suit which employees:
The next important step in effective delegation is deciding which person will be the right fit for the job. This can be as simple as assigning a sales job to a sales oriented employee, or simply matching an employee’s skillset or personality to the job at hand. Don’t be afraid to offer further training to employees who will require it before taking on a task.

 

Be specific:
This is perhaps one of the biggest keys to effective delegation, and also where many people go wrong. The worst thing you can do when delegating is to be vague, as this leaves your employee unsure of what their role is, causing undue stress to both them and yourself when you invariably fall into the “if you want something done right, you have to do it yourself” trap. The key here is to identify the task clearly, know what results you want to achieve here and ensure that the person to whom you are delegating is well aware of the expected outcome. Communication is the key to effective delegation and a successful business.

 

Deadlines:
Deadlines must be discussed when delegating so that the individual taking on the task is well aware of the parameters within which they are expected to complete the task. At this point, agreeing on methods of communication and “checking in” on the project should also be agreed. Setting a defined deadline can avoid problems further down the road.

 

Accountability:
This is the hardest part of the delegation process. All involved must know who is accountable should there be a problem from the outset, as well as what will be expected of them with this task. Accountability cannot be passed on, it can only be shared. Ensuring accountability means that your employees/colleagues will stay

 

Feedback:
Offering feedback on how the process/project has gone boosts staff morale and also ensures that all involved know their strengths and what aspects they can work on for the benefit of future projects.

The process of delegation is a difficult one to begin, but will become easier each time as your employees/colleagues become better equipped and experienced at dealing with certain similar tasks in the future. You will soon find yourself wondering why you didn’t start this process sooner as your business becomes a more defined and organised organism.

10 WAYS TO IMPROVE YOUR WORK-LIFE BALANCE

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With the recent Mashable infographic shedding light on the fact that just 77% of Irish employees are satisfied with their work-life balance, we felt that it would be important to offer some tips to employees and employers on improving your work-life balance.

 

Judging by this infographic, Irish workers are by no means the most dissatisfied but is 77% really enough for Irish employers? Mexico log the greatest number of hours at 2,226 and boast 82% satisfaction, so before we hop onto the Netherlands job hunt or hot-foot it to Mexico, what can the Irish employer or employee do to increase satisfaction with our work-life balance?

 

The issue of work-life balance is an important one which if left unaddressed can lead to unhappy workers and by extension an unhappy working environment. Some key tips for improving your own balance and that of your employees are as follows:

 

  1. Take responsibility for your own work-life balance: If working demands begin to overwhelm you, it is important to speak up. As an employer this is when the importance of delegation arises.
  2. Make use of your lunch break: this might seem like an obvious one but there are a surprising number of us who regularly choose to eat our lunch at our desks whilst still working. When possible, make use of your lunch break and even take a walk to clear your mind and set yourself up for the rest of the day, you may even find yourself more productive after this time.
  3. Make use of your commute: If, like so many of us, you find yourself on some form of transport idly worrying about the day ahead, try making use of this time by either making a plan of your day or making a small start on some of your tasks. Having this time to focus may clear your mind so that when you step foot in the workplace you are prepared for the day.
  4. Don’t bring work home: Obviously, this is not always possible but when you can, it is important to draw a line between your working and personal lives which will see your rest time at home become more enjoyable and beneficial.
  5. Time your tasks: Giving yourself a set amount of time per task means less time wasted and will drastically increase your productivity giving you more time to utilise elsewhere.
  6. Schedule family time: If you feel that your working hours are consuming your entire day, step back and schedule some time for family and friends. This time will help you disconnect and remember all those important reasons why you go to work in the first place.
  7. Take up a hobby: Having a hobby is a great post-work stress reliever as is exercise. Focusing your energy on your other passions outside of work may be the boost your working life needs.
  8. Track your working hours: Make a note of your working hours in the office as well as those you spend working from home. Having a visual reference of this may help you better divide your time between working life and home life.
  9. Make plans: Whether it’s that holiday you’ve always wanted to take or simply a few days off to spend in the company of family and friends, having a plan gives you a distinct goal and something to work towards as well as look forward to.
  10. Switch Off: Unless waiting for something important, try not to consistently check your work emails. This is a big ask in today’s digital age but it something which can greatly improve your work-life balance and overall satisfaction.

 

Even reclaiming one hour per day for yourself outside of working hours can make a vast difference to your health and overall mood. In turn, this is beneficial to employers as a happy workforce will be a more productive workforce.