How to destress your business for Christmas
Australian retailers expect the softest Christmas sales since 2013, according to a recent Deloitte survey. Whether or not that prediction turns out to be true for your business, the Christmas season can certainly cause stress for you, your employees and your customers.
Here are some potential stress-inducers and our tips for a calmer holiday season:
Support overwhelmed employees
The ideal Christmas - gathering those who are dear to us near to us, as the song goes - has a flip side. Those expectations of an idyllic Yule can spark anxiety. My list isn't finished! I can't find the right gift for my son! I forgot to pick up prawns! Even your most even-keeled staffers may have to bear the brunt of stressed-out customers who are Not Having a Happy Christmas Thank You Very Much.
So what's a boss to do? If Christmas bonuses are in the cards, your job gets a bit easier. But no matter the fiscal picture this festival season, try showing your employees extra appreciation. In a Relationships Australia survey, 1 in 3 people reported their families were being "highly negatively affected" at Christmas owing to poor work-life balance. Inc. columnist Marissa Levin recommends letting your employees know that you're aware that the holidays can be stressful. She suggests making holiday parties optional - even if you're buying the spread, it can mean the parents on your staff have to find and pay a babysitter.
Fix cash flow woes
Christmas, for all its pluses, can put a crimp in your cash flow. Accounts receivable often see longer-than-usual payment delays as customers close up shop for the holidays. Pair that with seasonal expenses like hiring extra help or you company's holiday party.
You can turn these challenges into opportunities by using your outstanding invoices as collateral. This tactic, debtor finance, is one of the ways Classic Funding Group and Cashflow finance Australia supports SMEs across the country. Turning invoices into cash (also known as Invoice Discounting) can shore up operations during December and put you in a position to expand or grow your working capital, to name just two options.