How to keep good business records for your limited company
Keeping good business records is not just about meeting tax and legal requirements. It's also key to help your business grow profits and stay efficient.
Your employees are your company’s most valuable asset, which is why an investment in them is an investment in your business. Having a comprehensive career development programme can help you attract the top talent in your field, reduce staff turnover, and help the high achievers in your team grow into tomorrow’s business leaders.
Career development training is also improves employee productivity and innovation. With a lack of career advancement opportunities being reported as one of the top reasons for leaving an employer, providing chances for growth with training helps you retain the top talent on your team.
A strong career development programme is something that businesses can offer regardless of size and setting one up is simple with the right software. Training management tools from Sage will ensure your success.
When setting up training management for your career development programme, you need to consider how you’ll manage the following:
Identify the necessary skills for the job and any skills gaps You will have to conduct a learning needs assessment to see where there’s room for improvement in your staff.
Identify the strengths and weaknesses in your staff through a learning needs assessment and set learning goals based on current skill levels.
Keep track of your employees’ progress with HR software. Having access to activity records and progress overviews eliminates guesswork from the process and makes appraisals more effective.
Your employees may be nervous to bring up their career development aspirations in performance appraisals. That’s why a career development programme is a great opportunity to discuss these and to see how you can align these individual ambitions with your business goals.
When starting your career development programme you should provide a safe space to talk about career development in a one-on-one setting.
This will provide useful insights when planning which training opportunities to offer employees, and how going through the training programme may have changed these aspirations.
There are several advantages to utilising HR software from Sage in your career development programme:
It’s easy to identify professional development opportunities through learning needs assessments. Offering self-assessment as part of the process motivates them to take charge of their own career growth.
Get actionable insights from activity reports and an employee progress overview, ensuring you’ve got the most up-to-date insights into your workforce.
HR software solutions and consultancy services from Sage will help you cut costs and save time.
Keeping good business records is not just about meeting tax and legal requirements. It's also key to help your business grow profits and stay efficient.
How will Brexit affect businesses? Read this article for 12 answers to questions your company may have as the UK prepares to leave the European Union.
Making the move from a small firm to a medium business can be tricky, so read this for advice on growth strategies and employing the right people.
Is your manufacturing firm considering onshoring? Discover how moving to an onshoring strategy and embracing industry 4.0 could boost your business.
Find out how blockchain traceability can improve how your supply chain functions and how the Internet of Things could make your operations more effective.
International trade can boost your business. Entrepreneur and Sage Business Expert Jeremy Corner shares 10 habits that can give you the exporting edge.
Employee benefits don't just have to include gym memberships and cycle to work schemes - community spaces and healthy food are important too.
Learn about acquiring and using an EORI number, which your business will need post-Brexit if you want to import and export goods within the EU.