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Should you open the books to employees?
At Lovetts we can advise business owners in the Hatfield area on many of the issues you face. Here are some of the possible advantages of opening the books to your staff...
Opening the books to employees is a strategy that has been tried to varying degrees by business owners over the years, and has often proved to be successful in motivating the workforce and improving performance.
Those who have taken this route report a number of benefits:
Not every owner would want to go so far as to reveal everything to the staff, but it might be worth considering at least a little more transparency for your business.
For the strategy to succeed you will need to develop a system of reporting that provides your employees with timely financial information in a form they can work with. We would be happy to help you.
If you are in the Hatfield area and are looking for support and advice from a team of professional accountants and business advisers, contact Lovetts.
The Treasury has extended the temporary scrapping of VAT on personal protective equipment (PPE) until the end of October.
The government plans to give UK businesses £111 million in order to fund new traineeships and get young people in England into work.
A survey commissioned by HMRC has found that a lack of knowledge amongst UK businesses has contributed to Making Tax Digital for VAT (MTD for VAT) non-compliance.