Business News

Staffing issues, systems major challenges

A panel of SMSF practitioners has identified the implementation of good operational systems and the recruitment and training of staff among the biggest challenges facing their businesses in the coming 12 months.

“What keeps me awake at night is implementing systems into our business that provide solutions to the issues, like how we market in the most effective manner, how we manage our database better and how we provide an online facility for the whole client experience,” SMSF Partners director David Mardell informed delegates at last week’s NowInfinity Conference in Hawaii.

Mardell added that getting his staff to better understand what clients wanted would potentially assist in better lead generation over the next year.

ProView Financial Group director Tracey Besters agreed with Mardell, saying staff training matters were also a challenge for her SMSF business.

“In our accounting business the biggest challenge is going to be training people and teaching our people to value what they do,” Besters said.

She also nominated the implementation of better systems within her practice to improve the consistency of service delivery as another challenge she would be facing in the immediate future.

Smart Solutions Group principal Tim Shapter was certain addressing the key-man risk of his practice was the major concern for the coming year.

“My biggest challenge is I am the business. I’ve employed other advisers in the past and getting people to think on their feet is always hard,” Shapter said.

“Finding people who believe in what we do is something that adds value, but it’s also hard, especially in financial planning, because we come from a commission-based background.”

Addept Business Advisors and Chartered Accountants principal Sarah Robinson echoed the thoughts of Mardell and Besters, saying systems would be the primary challenge for her business during the next 12 months.

“We’re really focusing on providing consistent solutions so we can adopt a more streamlined approach and improve our operation and the advice we can give online,” Robinson said.

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