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employee wages and bonuses

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question - as employers do you share your financial accounts with your staff?? If not why not

just out of general interest, is it a common thing share financial accounts with employees?

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just out of general interest, is it a common thing share financial accounts with employees?

No.

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I don't see why you couldn't share some information with staff and get some ideas from them I.e. How to reduce certain costs which total $x per annum - if they come up with good tangible ideas - they are rewarded as you see fit...

In my experience most business owners only show / discuss financials with accountant, ird and bank.

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I haven' t worked for an employer who worked for me yet.

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The only financial interest an employee will ever have in the company they work for is there wages...anything else is none of there business

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i like the idea of showing employees a degree of where the money goes, a certain percentage of employed beekeepers will aspire to have their own outfit one day and learning the financials is an important part of running any business. Education of all facets of business within an industry, is in my opinion, a sign of a healthy, sustainable and progressive industry!

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i like the idea of showing employees a degree of where the money goes, a certain percentage of employed beekeepers will aspire to have their own outfit one day and learning the financials is an important part of running any business. Education of all facets of business within an industry, is in my opinion, a sign of a healthy, sustainable and progressive industry!

And those employed beekeepers with business ownership aspirations are the easiest business succession plan / sale you can get - should you be considering your future plans...

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I am an open guy and agree there's no harm in showing expenditures and budgets, all my staff pretty much know what the business is costing and making most of them have there own gear so they have first hand idea of it, Beekeeping for those that have been in it long enough will remember and it wasn't that long ago how hard it was just to make a living for them self's it just a recent thing that they can afford staffing and some expansion (some way more than others maybe bigger balls or bigger backing) I think you will find most beek will be pretty conservative you may have seen some good accounts but go back even three years totally different look.and it could be back to that next year, so its a tough one. $20.00 this year no job next.

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Almost everything in beekeeping today is riding the Manuka wave, therefore it stands to reason that should that wave stall or crash then almost everything in our industry will change.

 

Those beekeepers who have only been beekeeping in the bubble will get a very big shock and probably go broke almost overnight, most of us who have hired staff to expand will be laying them off again.

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Looking at it from an employees point of view , job security , job satisfaction and being able to progress are three important areas . I like @tony 's template with his employee's being able to run hives themselves. It gives the employee some extra incentives to do a good job , and when their bees pull in clover when they are supposed to be gathering manuka , they can appreciate the financial implications for the business they work for . People will always move on over time . The dairy industry is a classic case of that . Starting on wages , to lower order sharemilking , followed by buying cows and going 50/50 , then finally farm ownership . I can see a similar thing with beekeeping . Those really good beeks with a few hives wanting to go out on there own are the ones you really want to retain . Some form of share agreement could work for them as well as the business . If they leave , there is a risk of them creating more competition for sites etc . The flip side though is that as a small enterprise , if the new beekeeper has a bad season , then they may not have the resources to absorb the loss without severe financial hardship . Thats where a business arrangement could work for both parties . The business retains the skilled beekeeper , and it may even be in a training/supervisory role . The beekeeper can enjoy the rewards of a good season , but has a bit of protection from a not so good one .

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Almost everything in beekeeping today is riding the Manuka wave, therefore it stands to reason that should that wave stall or crash then almost everything in our industry will change.

 

Those beekeepers who have only been beekeeping in the bubble will get a very big shock and probably go broke almost overnight, most of us who have hired staff to expand will be laying them off again.

Bigger the business, more vulnerable to sudden changes..

Would it be possible to have operation of size You can manage yourself ( only let's say help for extraction or something more intensive at your place). With such size, could you live decently and earn saving sufficiently?

It is here about 150-250 colonies as migratory.

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@Goran before Manuka we were paid around $2.75kg for the honey we produced, If you had enough hives and pollination was your main earner then it was do-able.

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@Goran before Manuka we were paid around $2.75kg for the honey we produced, If you had enough hives and pollination was your main earner then it was do-able.

That was reallly really low.. I complain for offer of 5.44 NZdollars for 1st class black locust honey..

Our honey prices are going hard down due huge imports from China, Argentina..

Be cautious when Your goverment help more importers than beeks.. What we have..

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Employees need to have some idea of costs and benefits as it gives them some perspective on the potential cost of their mistakes. I have a reasonable idea of the value of the chemicals I use, and I have a reasonable idea of the cost of me making a mistake (not that I have....;)) However in terms of the grater business, I'm only guessing.

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In our branch of our corporate we are quite open about rough expenses and and income. All our team leaders run their units more or less as they see fit with production goals, and working together on the larger jobs - this gives the team leaders a sense of ownership. The get to see a rough estimate of how much each visit cost to each site, and the cost of running the sight for the year.

 

I'm not sure where we stand on the pay scale, but we dont seem to have a high staff turnover, so I guess it cant be too bad.

 

I do often thing about going on my own - I know I could make much more on a good year, but on a poor one? We have a kid and a mortgage and only one income - could we survive a bad year?

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don't forget for those thinking about going on their own, being a one man band is not easy.

very easy for you to be out of action for a little while, for some reason, and ruin your whole season.

you an get around that by hiring staff, but then need more hives, more sheds. a lot more investment.

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How understanding are lending institutions in poor seasons ??

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How understanding are lending institutions in poor seasons ??

i understand that in the past there was no lending on beehives. i doubt they would care about poor seasons.

these days its a bit different.

i suspect they think beeks will bounce back the next season quite well due to the current good prices.

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How understanding are lending institutions in poor seasons ??

I don't know the answer, but I would think that a good contract would have some acknowledgement as to the risk of a crop failure and how it would affect the terms of the loan.

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I don't know the answer, but I would think that a good contract would have some acknowledgement as to the risk of a crop failure and how it would affect the terms of the loan.

Having worked in the business banking division of one of the major banks - having contracts in place helps with the overall business picture but they rely heavily on financial results for lending decisions - one poor year shouldn't adversely affect your lending ability, I always went off 3 years averaged results where available, plus realistic forecast for the next 12 month period. You have to remember banks are always hungry for sales ie selling loans so will do their best within certain lending parameters - security ratios, servicing ability etc... To give you want you want, borrowing is the easy part, repayment is a lot harder - call me conservative - but I always tried to steer people into borrowing the least amount of money possible, having to witness and deal with clients in financial distress is not pleasant.

 

In poor seasons - lending institutions are reasonably accomodating but this only extends so far, if you can show and explain what happened and why, changes you've made as a competent operator etc... The banks will support you, but again are you confident you are not just digging yourself a bigger debt hole to climb out of - just look at what's happening with diary at the moment, plenty of sleepless nights for everyone with high debt levels there...

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