End-of-year admin tasks
The end of the year is the perfect time to catch up on administration tasks that have fallen to the wayside throughout the year.
Consider completing the following admin tasks before closing down for the holiday season:
Update employee details and client lists
If you know of employees planning on resigning over the new year period, it would be wise to ask for the return of any business belongings, such as the company car, uniforms, lift pass and so on. Removing the employee from software including staff email, the payroll system, etc. are also smart things to do to save you doing it in the new year. For employees starting in the new year, make appropriate adjustments so that there are no holdups and everything is set-up for them on their first day.
Make arrangements if you know you will be losing any clients, such as cancelling their direct debit payments and removing them from mailing lists.
Review annual performance
The end of the year is a perfect time to review and analyse how successful it has been, in terms of marketing, customer satisfaction, profit margins and so forth. Evaluate the practices that have made you money and that have been successful. Establish how to improve upon these in the new year. Also, cut ties with the practices that have cost you money or haven’t made you any.
Set goals for the new year
Establish the goals you want to accomplish in the new year. Focus on the different aspects of your business you want to improve upon and brainstorm with your team ways to accomplish these goals. Areas you may want to focus on include:
- Improving customer service and satisfaction
- Streamlining office processes such as introducing automation for payroll, rostering, etc.
- Increasing profit margin
- Strategies to reduce spending
Make appropriate payments
Before the start of the holidays, ensure you have made appropriate payments to employees, including quarterly super contributions, wages, and any holiday bonuses. It would also be worthwhile to make sure clients are up to date with any payments or bills owing.
Review cyber security
Before wrapping up for the year, invest time to check your cyber security is up to par. Ensure that all malware and antivirus software is up-to-date and renew any software licenses where appropriate. If you are closing down for the holiday season, remove any saved passwords or cached information such as credit card details.