27 February 2025
For businesses, the first quarter of a new year can mean many things. We’re finding that businesses are facing challenges and opportunities alike that can either hinder or help their growth. The most common things we’ve noticed that businesses are experiencing at the start of a year are dealing with team members (both welcoming new ones and terminating existing ones), increasing awareness and prevention of psychological hazards in the workplace, and navigating the complexities of new or updated legislation.
Does any of this sound like something you’re experiencing at the moment? In this blog, we explore the changes and challenges businesses are facing at the start of the year.
A new year is the perfect time to be welcoming new starters to the business. We’re already seeing our clients welcome team members into their business. Having new team members start in the business can be exciting and challenging. It’s a great opportunity to review your onboarding process, especially as this helps in making new team members feel valued and supported from day one. According to research by the Integrated Benefits Institute, 61% of employers struggle to retain their employees, while 73% of difficulty attracting them, so don’t underestimate the power of a great onboarding process in attracting and retaining talent.
On the flip side, we’ve also had clients come to us asking for help with redundancies and terminations. For some businesses, this decision comes at the start of the new year because it was something they’ve been meaning to do in the last one, but just haven’t had the time or resources to do so. Sometimes, letting go of team members is necessary for growth and can be due to restructuring, performance issues, or simply a case of the team member not being a good fit for the company. Handling these transitions with empathy and transparency is something we always recommend that businesses do (our approach of being people-first and compliant is one we apply here!)
Introducing new products or services is a significant milestone for any business. A new year could be the time for businesses to explore new ventures or introduce new initiatives to their team.
This year, we’re also seeing initiatives for psychological safety being promoted in businesses across Australia. The past year saw the rise of awareness around psychological risks and hazards in the workplace. According to Safe Work Australia, mental health conditions accounted for 9% of all serious workers’ compensation claims, a 36.9% increase since 2017-2018. Marie Boland of Safe Work Australia says “Proactively managing psychosocial hazards at work not only protects workers, it also benefits businesses by improving organisational performance and productivity.”
Are you considering an initiative for your workplace to help eliminate or mitigate the risk of psychological injuries in your business? We can help—contact our team today.
A new year can also bring about challenges when it comes to staying updated with employment law. In the last year, we’ve seen plenty of updates in employment law and have worked with clients in ensuring they’re compliant with legislation, and this year isn’t showing signs of slowing down when it comes to updates.
From January 2025, wage theft is now a criminal offence under the Fair Work Act, with offenders being fined or even imprisoned. There are also significant changes happening this year, which we outlined in our fact sheet here. All these changes can feel overwhelming for business owners and employers, and we don’t blame you! If you’re feeling overwhelmed or unsure of where to start when it comes to compliance, we recommend checking for updates with the Fair Work Organisation and having our Fact Sheets handy.
Going into a new year, it’s clear that businesses are facing a mix of challenges and opportunities. Whether you’re welcoming new team members, launching initiatives to promote psychological safety in the workplace, or keeping up with the latest legislative updates, each of these moments presents a chance to grow and adapt.
If you’re a business owner or employer who’s got your hands full with running the business and don’t have the time or resources to put into enacting these changes, we have the solution for you. Our team can be your fractional HR provider, giving you life-saving HR support that’s tailored to your business’s challenges and goals. Interested? Find out about Now Actually’s fractional HR support here.
