I’m here with the COVID-19 business continuity update on Wednesday 22nd April.
In today’s update I’ve provided a guide for your employees on how to save costs during COVID-19
Due to the current economic climate, some businesses have had to reduce their staff’s work days from a full week down to 4 days and even 2-3 days in some cases, resulting in reductions in staff salaries.
I want to acknowledge that these aren’t decisions that have been made lightly – they are necessary measures to keep businesses alive. So as a way to help you support your staff on reduced wages, we have prepared a guide for how they can save on some expenses and costs during this time. In this guide we cover:
- Housing costs: rental and mortgage payments, council rates and body corporate levies
- Personal debt: home loans, personal loans, credit cards
- Services at home: gas, electricity water
- Phone, data and internet
- Health insurance
- Home, contents, car insurances
- Other expenses
- Tips for reducing your general expenses
I’ve attached the guide here as a PDF so that you can email it to your staff or give them a hard copy.
(If you need a refresher, in my email on 1st April (click here to re-read), I suggested explaining to your employees what a salary reduction of 80% or 60% would realistically look like in their current circumstances, and I provided a Wage Earner Comparison. The key point there is that we’re all sharing the pain.)
Let’s keep looking forward.