Bespoke Tax Accountants

Specialist tax advice, accountancy and tax returns

01242 505970
info@bespoketax.com

  • Home
  • About Us
    • Meet The Team
    • Careers
    • Statutory Information
    • Privacy Policy
  • Who We Help
    • Personal and Family
    • Business
    • Our Clients
  • News
    • Making Tax Digital
  • Giving Back
  • Contact
  • Cloud Accounting
    • Xero

Head count or productivity?

10th June 2020 By bespoketax

Head count or productivity?

In the not to distant past business managers were prone to “empire building”. Increasing head count was more important than increasing productivity.

This bygone-age tendency has long slipped away but productivity is likely to remain as a leading consideration when businesses organise their use of human assets to run their businesses in the post-COVID economy.

Productivity should be one of the key considerations as we emerge from lock-down. Employers may need to make difficult choices if their ability to trade has been affected by COVID restrictions.

Who to retain, who to let go…?

Efficiency is a difficult quality to measure. Much depends on the entrepreneur’s ability to manage and release productive endeavour as well as the personal bent of individual employees to work effectively or otherwise.

When business owners start the process, who to retain after furlough ends on 31 October or who to lay-off, they will need to take a range of factors into account:

  • At what level will demand for products or services settle?
  • Based on this, what infrastructure is required to sustain this level of activity?
  • Can the new reality be financed? Is further investment required?

A number of businesses may close their doors. Those linked to the aviation or hospitality sectors will be severely challenged.

Those businesses that can see a light at the end of the tunnel will need to stay sharp. Planning to achieve this cannot be underestimated. During the coming summer business owners need to engage with their advisers and figure out what to do next.

One ingredient that should be considered as part of this process is what choices can be made to create and capitalise on productivity gains.

Filed Under: Uncategorised

Recent News

  • New measures to help with the cost-of-living crisis
  • Domicile and IHT
  • Agent authorisation re SEISS grants
  • HMRC wins disguised remuneration case

News Categories

  • Budget Summary
  • Business
  • Business Support
  • Capital allowances
  • Capital Gains Tax
  • Company Secretarial
  • Construction Industry Scheme
  • Corporate Governance & Regulation
  • Corporation Tax
  • Customs Duties
  • Duties
  • Employee Benefits
  • Employment & Payroll
  • Employment Law
  • European Union
  • Family Tax Credits
  • General
  • HMRC notices
  • Income Tax
  • Inheritance Tax
  • National Insurance
  • NIC & Pensions
  • Other duties
  • Overseas personal tax issues
  • Overseas tax issues
  • Payroll
  • Pension
  • Personal
  • Practice News
  • Stamp duty
  • Stamp Duty Land Tax
  • Tax credits
  • Tax Diary
  • Value Added Tax

About Us

Bespoke has a reputation for helping our clients make the most of their financial situations and in turn we have become a trusted extension of their business or family.

Bespoke assist with compliance requirements, providing specialist tax advice, and planning for now and the future.

Keep informed.
Sign up for our Topical Newsletter

Our FREE monthly newsletter will keep you up to date with the latest news related to the world of accountancy.

Register Here

Contact

Delta Place,
27 Bath Road, Cheltenham,
Gloucestershire, GL53 7TH
01242 505970
info@bespoketax.com

ICAEW Chartered AccountantsXERO Gold PartnerChartered Institute of TaxationMember of EISA

Copyright © 2022 · Bespoke Tax Accountants · Website by Culpepper & Co

.