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Build Resilience in Business: Overcoming Challenges with a Growth Mindset

Why Resilience is a Key Business Skill

Resilience is more than a buzzword for business owners; it’s the engine that keeps businesses moving, even in the face of setbacks. Today’s business environment is unpredictable. From market changes to unforeseen operational challenges, entrepreneurs need resilience to navigate these waters successfully. This article explores how grounded in a growth mindset, can empower business owners to not just survive but thrive, regardless of the obstacles they face.

Understanding the Value of Resilience in Business

Resilience is often associated with “bouncing back,” but for business leaders, it’s about pushing forward—adjusting, learning, and evolving with every challenge. It’s the difference between a business that struggles through setbacks and one that grows stronger in the face of them.

Drives Long-Term Success—The most successful leaders know that it enables them to sustain momentum over time. Research suggests that resilient leaders make quicker, more effective decisions, experience lower stress, and adapt with agility. This adaptability is key when challenges like cash flow fluctuations, customer expectations, and operational demands hit.

Fostering a Positive Culture —When leaders model resilience, it resonates throughout the company culture. Employees take cues from their leaders, and it inspires a positive, can-do attitude that keeps teams engaged and motivated even when the going gets tough. By prioritising resilience, you’re building a workforce that mirrors this mindset.

How the Growth Mindset Fuels Resilience

At the core of resilience is a growth mindset. Business owners with a growth mindset see failure as a part of learning, not as a dead-end. Pioneered by psychologist Carol Dweck, the growth mindset focuses on improvement through effort, persistence, and flexibility.

Turning Failures into Learning Opportunities—A growth mindset encourages you to approach challenges as opportunities for growth. Instead of asking, “Why did I fail?” growth-minded leaders ask, “What can I learn?” This approach takes the fear out of failure, making it easier to tackle challenges and reframe setbacks as valuable experiences.

Reframing Setbacks and Staying Persistent—Many business goals, from increasing sales to expanding operations, aren’t achieved overnight. Embracing persistence through a growth mindset reminds you to stay focused, adapt where needed, and maintain optimism in the face of setbacks. It’s about showing up every day with a commitment to long-term progress.

Practical Exercises to Build Resilience as a Business Owner

Developing resilience isn’t a quick fix; it’s a habit built over time. The following exercises can help you strengthen resilience in your business life:

Daily Reflections and Journaling—Spending a few minutes each day reflecting on challenges and how you handled them fosters a mindset of growth. Write down what went well, what you learned, and how you plan to improve. Regular reflection is a powerful tool for self-awareness and resilience.

Breaking Down Big Goals into Manageable Tasks—Taking a major goal and breaking it into actionable steps helps avoid overwhelm and keeps you on track. Accomplishing smaller goals boosts confidence and builds momentum. This exercise also reinforces the idea that every step forward, no matter how small, is progress.

Practising Positive Self-Talk and Reframing Thoughts—Building resilience involves reshaping how you think about challenges. Instead of dwelling on what went wrong, practice reframing by asking yourself questions like, “How will this help me grow?” and “What did I learn?” Positive self-talk fuels resilience and ensures you maintain a constructive perspective.

Leveraging Training to Build a Resilient Mindset

Resilience training isn’t just about mental exercises; it is about accessing practical resources that provide the tools and knowledge needed to develop a strong growth mindset.

Training Programs that Support Resilience—Our “Develop a Growth Mindset That Drives Your Business” course is designed specifically to help business owners build resilience. It covers strategies for overcoming common challenges, rethinking setbacks, and implementing resilient thinking in daily operations. Access to such structured resources offers a clear pathway for building resilience.

How Online Training Supports Business Resilience—Online training offers flexibility, allowing business owners to engage in continuous learning without disrupting their schedules. Courses like this one allow you to learn, pause, reflect, and apply lessons directly to your business practices. The modular approach also aligns with micro-learning, enabling leaders to absorb insights in smaller, manageable segments.

Real-World Examples of Resilient Leaders

Case Study: The Resilient Path of Elon Musk

For instance, Elon Musk, CEO of Tesla and SpaceX, has faced numerous challenges on his entrepreneurial journey. In 2008, both Tesla and SpaceX were on the brink of bankruptcy.1 With limited funding and mounting skepticism from investors, Musk faced immense pressure. Instead of surrendering, he adopted a resilient approach, investing his own money and working tirelessly to turn things around. Musk’s resilience and growth mindset transformed these setbacks into learning experiences that ultimately saved both companies and set them on a trajectory of groundbreaking innovation. Today, Tesla leads the electric vehicle industry, and SpaceX has become a global leader in private space exploration.

How Resilience Led to Innovation at Netflix

Similarly, Netflix, co-founded by Reed Hastings, exemplifies how resilience can fuel unexpected innovation. In the early 2000s, when online streaming was emerging but hadn’t yet gained traction, Netflix faced a significant market shift. 2Rather than clinging to its DVD rental model, the company adapted by investing in streaming technology, despite the financial risks. This resilient pivot not only saved Netflix from becoming obsolete but also transformed the entertainment industry. Today, Netflix is a leader in global streaming, illustrating how resilience and adaptability can lead to industry-wide innovation.

Building a Resilient Business for a Brighter Future

Resilience is an invaluable asset in today’s business world. By embracing a growth mindset, practicing resilience-building exercises, and tapping into targeted training resources, business owners can prepare themselves for any challenge that comes their way.

At The Answer is Yes, we’re here to support your journey toward resilience with courses like “Develop a Growth Mindset That Drives Your Business” This course and others provide practical tools to help you turn setbacks into opportunities, navigate challenges confidently, and lead with resilience.

By investing in resilience, you’re building a stronger, more adaptable business prepared for sustainable growth, no matter what the future holds. Resilience isn’t just about surviving tough times—it’s about thriving because of them.

CITATIONS

  1. Elon Musk has worried about SpaceX bankruptcy before — early on he thought it would be ‘worth $0’ ↩︎
  2. How Netflix beat its rivals and survived the 2000s ↩︎

Category: Human Resources, Personal Development Tags: ,

Cybersecurity: More Than Just an IT Concern

Cybersecurity is imperative for businesses, yet many organisations still treat it as an IT responsibility. This misconception, prevalent across industries, leaves firms vulnerable to increasingly sophisticated threats. At Cyber365, where we help governments and organisations worldwide strengthen their defences, we have seen firsthand how this narrow perspective limits an organisation’s ability to build true cyber resilience.

Cybersecurity is no longer just a matter of protecting networks or securing endpoints. It is about safeguarding operational continuity, reputational integrity, and customer trust. These are not IT issues—they are business priorities. Because cybersecurity matters at every level, it demands active involvement from leadership, including boards and executive teams.

Cybersecurity: A Strategic Business Priority

A 2022 report from the Software Engineering Institute (SEI) at Carnegie Mellon University highlights a critical truth: cybersecurity success depends on the organisation’s ability to integrate cyber risk into its overall risk management framework. This integration cannot happen effectively if cybersecurity is seen as a siloed IT function.

Executives and board members need to understand that cyber threats are business risks. A ransomware attack can halt operations, a data breach can destroy customer trust, and an insider threat can lead to regulatory fines. These consequences impact the entire organisation—not just the IT department.

Why the IT-Only Mindset Fails

When organisations delegate all cybersecurity responsibilities to IT teams, several challenges emerge:

  1. Limited Visibility: IT teams may not have complete visibility into business operations, making it harder to assess the impact of cyber risks on critical processes.
  2. Misaligned Priorities: IT teams focus on technical solutions, while leadership remains disconnected from the broader implications of cyber risks.
  3. Inefficient Resource Allocation: Without board involvement, cybersecurity budgets may not align with the organisation’s actual risk level.
  4. Reactive Responses: Viewing cybersecurity as a technical issue often leads to reactive measures instead of proactive risk management.

The Risks of Relegating Cybersecurity to IT Teams

At Cyber365, we have worked with organisations across the United Kingdom, Australia, New Zealand, and the Pacific Islands to address the fallout from inadequate cybersecurity strategies. A recurring theme is the lack of leadership involvement in cybersecurity planning.

One example involved a mid-sized organisation that suffered a ransomware attack, halting operations for several days. While the IT team scrambled to restore systems, the leadership team was unprepared to manage the business implications, including:

  • Communicating effectively with stakeholders
  • Navigating regulatory reporting requirements
  • Reassuring customers that their data was secure

The result? Significant reputational damage and lost revenue—not because the IT team failed to act, but because the broader organisation could not prepare.

Cybersecurity is a team sport. Organisations are exposed to preventable incidents and poorly managed responses when boards and executives are not actively engaged.

Cyber Resilience Requires a Cultural Shift

True cyber resilience demands a cultural shift within organisations. This shift begins with acknowledging that cybersecurity is a shared responsibility.

1. Leadership Involvement is Non-Negotiable

Board members and executives must treat cybersecurity as a strategic priority. This means:

  • Understanding the Threat Landscape: Leadership should be familiar with the types of cyber risks that could impact the organisation, from ransomware to insider threats.
  • Prioritising Risk Management: Cyber risks should be integrated into the organisation’s overall risk management framework.
  • Allocating Resources Wisely: Budgets for cybersecurity should reflect the actual level of risk the organisation faces, not just historical spending trends.

As the Software Engineering Institute emphasises, leadership is critical in aligning cybersecurity efforts with organisational goals. Without this alignment, even the best IT teams cannot effectively protect the organisation.

2. Cyber Awareness Must Extend to All Levels

Cybersecurity is not just the responsibility of IT teams or leadership; it is a mindset that must permeate the entire organisation. Every employee, from entry-level staff to senior managers, has a role to play.

  • Regular Training: Cyber awareness training, like Cyber365’s Cyber Awareness for All Staff courses, equips employees to recognise and respond to phishing attempts, social engineering, and other threats.
  • Clear Policies: Policies outlining acceptable technology use and incident reporting protocols ensure consistency in how employees approach cybersecurity.
  • Incident Response Planning: Every team member should understand their role in the event of a cyber incident, reducing confusion and ensuring a swift, coordinated response.

Because awareness matters, a cyber-savvy workforce is your best defence.

3. Invest in Proactive Measures

Proactive measures—such as Cyber365’s Cyber Resilience Review and Cyber Risk Assessments—help organisations identify vulnerabilities before they become crises. These assessments provide boards and executives with a clear understanding of their risk exposure and practical steps for improvement.

Proactive strategies should also include:

  • Regular Vulnerability Assessments: Ensuring that systems are updated and patched.
  • Penetration Testing: Simulating attacks to test defences and identify weaknesses.
  • Scenario-Based Training: Preparing leadership and staff for real-world incidents.

Insights from the Boardroom: Cybersecurity as a Business Imperative

As an advisor to boards and leadership teams, I often see a shift in perspective when executives truly engage with cybersecurity. Conversations evolve from “What does IT need?” to “What does the business need to protect its future?”

Boards that embrace cybersecurity as a business imperative often exhibit these characteristics:

  • Regular Engagement: Cybersecurity is a standing agenda item at board meetings, ensuring continuous focus.
  • Dedicated Cyber Expertise: Some boards appoint a cybersecurity expert or establish a cybersecurity committee to oversee strategy.
  • Accountability: Leadership holds all departments—not just IT—accountable for their role in cybersecurity.

How Cyber365 Can Help?

Cyber365 specialises in empowering organisations to move beyond the IT-only mindset. Our training, assessments, and workshops help organisations build resilience from the top down.

  • Cyber Awareness Training for Leadership: This training, tailored for executives and board members, highlights their critical role in managing cyber risks.
  • Risk Assessments and Resiliency Reviews: These services provide a clear picture of your organisation’s vulnerabilities and actionable recommendations for improvement.
  • Workshops on Incident Response and CSIRT Deployment: Ensure leadership and staff are prepared to handle incidents confidently and precisely.

Because leadership matters, we provide the tools to ensure cybersecurity is woven into the fabric of your organisation.

Conclusion: Cybersecurity is Everyone’s Responsibility

The misconception that cybersecurity is solely an IT problem leaves organisations vulnerable in a world where cyber threats grow more sophisticated daily. Organisations must embrace cybersecurity as a shared responsibility to build true resilience, with leadership and board members actively engaged in strategic planning and decision-making.

By fostering a culture of cyber awareness and investing in proactive measures, organisations can move from reactive firefighting to proactive protection. At Cyber365, we stand ready to guide your organisation on this journey, ensuring you are prepared to face the future with confidence and resilience.

Cybersecurity is about more than technology; it involves people, processes, and priorities.

Explore Cyber365’s website or visit The Answer Is Yes! to help you identify which is the best course for you and your organisation.

Category: Cybersecurity

Harnessing the Power of Micro-Learning: The Secret to Solopreneur Success

As a solopreneur or small business owner, you’re likely juggling multiple roles—from finance to marketing to client management. Amid these competing responsibilities, the need for skill-building is clear, but finding the time can feel impossible. Enter micro-learning: a powerful approach that makes continuous learning accessible, digestible, and directly applicable to your daily business operations.

Whether you’re transitioning from employee to self-employed or navigating the complexities of growing your business, it can be your secret weapon to mastering essential skills without overwhelming your schedule. In this article, we’ll explore why micro-learning is invaluable for solopreneurs and business owners and how it can prevent costly mistakes, increase productivity, and foster a growth-oriented mindset.

What is Micro-Learning?

Micro-learning breaks down complex topics into short, focused lessons that you can absorb quickly and easily. Imagine learning crucial marketing strategies, financial management techniques, or customer service insights in 5- to 10-minute sessions—each one targeting a single, specific concept. Micro-learning enables you to retain information better and apply it immediately, making each lesson practical and impactful.

For solopreneurs balancing dozens of tasks, micro-learning provides a lifeline by delivering the essential knowledge and skills you need without requiring hours of study or training.

Why Solopreneurs and Business Owners Should Embrace Micro-Learning

The advantages of micro-learning go beyond convenience; this approach to skill-building can actively prevent common business challenges and keep you focused on growth. Here are just a few reasons why solopreneurs and business owners are turning to micro-learning:

  • Improved Retention: Micro-learning focuses on one key concept at a time, which helps you absorb information more effectively. You’re less likely to feel overwhelmed and more likely to retain what you learn, reducing mistakes down the road.
  • Flexible Learning on Your Schedule: When you’re running a business, finding blocks of time to learn can be tough. Micro-learning modules allow you to fit essential knowledge into small breaks throughout your day.
  • Immediate Application: Each micro-learning session is designed to be actionable. Whether it’s a quick financial tip or a new way to engage clients, micro-learning provides insights you can apply right away, making it highly relevant to real-time business challenges.
  • Helps in Transitioning Roles: For those moving from a traditional job to self-employment, micro-learning is especially helpful in acquiring the business skills you didn’t need as an employee. Topics like client management, pricing, and strategic planning become much more manageable when tackled in bite-sized lessons.
  • Increases Resilience Against Pitfalls: Micro-learning modules often focus on practical issues that business owners face daily. Learning effective problem-solving techniques, risk management, and time-saving strategies can prevent issues from becoming obstacles in your growth journey.

The courses on The Answer is Yes offer many options designed to address these needs, using its principles to deliver impactful lessons tailored to small business demands.

How to Integrate Micro-Learning for Business Success

Implementing micro-learning into your personal development plan doesn’t have to be complex. Here’s how you can make the most of it for your business:

  1. Identify Key Skills to Enhance: Pinpoint the areas where you need improvement. Is it financial planning, customer engagement, or time management? By focusing on specific skills, you can start with targeted micro-learning lessons that offer high returns on your time investment.
  2. Use Real-Time Applications: The beauty of it lies in its immediacy. After each session, find a way to apply the lesson in your business. For instance, after a 10-minute module on social media engagement, experiment with the tips you learned by refining your next post.
  3. Commit to Regular Learning: Consistency is key. Incorporate it into your daily or weekly routine by dedicating just 10–15 minutes a day. This regular practice will help you build a robust skill set without overwhelming your schedule.
  4. Leverage Tools and Technology: Many online courses, such as those on The Answer is Yes, are structured to facilitate micro-learning with video segments, mini-quizzes, and interactive elements. Use these tools to enrich your learning experience.
  5. Reflect on and Track Your Progress: Self-reflection enhances the learning experience. Take a moment after each lesson to jot down how you’ll implement the knowledge or skill. Over time, track how these small lessons are contributing to your overall growth.
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Real-World Applications for Solopreneurs

Here are a few practical examples of how micro-learning can directly improve your business operations:

  • Financial Literacy and Cash Flow Management: Short lessons on topics like budgeting, cash flow analysis, and cost management can help you avoid common financial pitfalls and ensure long-term stability.
  • Building Client Relationships: Modules that focus on effective communication, setting boundaries, or follow-up strategies can help you develop stronger, more loyal client relationships, essential for business growth.
  • Productivity Hacks and Workflow Optimisation: Micro-learning can introduce you to productivity tools and techniques, such as time-blocking or automation, that save time and streamline tasks—allowing you to focus on your business’s core areas.
  • Marketing Essentials: From understanding SEO basics to crafting a unique value proposition, it equips you to grow your brand effectively without needing to hire additional resources.
  • Crisis and Change Management: As a business owner, you’ll face challenges and changes. Its modules on crisis management, adaptability, and strategic thinking can help you stay resilient and proactive in uncertain times.

Embrace Micro-Learning for Sustainable Growth

Investing in your skills as a business owner doesn’t have to mean hours in a classroom or attending formal training sessions. Instead, you have the flexibility to learn at your own pace, apply your knowledge directly to real-world challenges. And grow into a stronger, more capable leader on your business journey. With every step, you can build a foundation for success that feels both practical and achievable.

At The Answer is Yes, we offer courses specifically tailored for solopreneurs and small business owners, ensuring skill-building is not only accessible but also highly relevant to your unique needs. From mastering budgeting basics to enhancing customer relationship management, these modules are designed to help you address critical skill gaps. Moreover, they provide the insights needed to prevent common pitfalls, allowing you to focus on growing and sustaining your business.

As you continue on your journey—from transitioning from employee to solopreneur, or from solopreneur to thriving business owner—embrace these courses as a powerful ally in your success story. By integrating small lessons into your daily routine, you can create a big impact on your future. Start learning today, and take the next step toward a brighter, more prosperous tomorrow.

Category: Personal Development Tags: ,

Are WHS and HR Managers the New Social Workers of the Workplace?

As the workplace continues to evolve, the roles of Work Health and Safety (WHS) Managers and Human Resource (HR) Managers have expanded significantly. Once defined by compliance and administrative responsibilities, these roles now require a balance of empathy, insight, and a commitment to supporting employees’ personal and emotional well-being. With employees facing higher stress levels, financial pressures, family obligations, and personal health concerns, these managers are increasingly acting as pseudo-social workers, helping individuals address issues beyond the workplace.

But is this shift effective? And what are the skills and resources needed to support employees fully without overwhelming WHS and HR teams? In this article, we’ll dive into the transformation of these roles, explore the challenges, and suggest solutions that can equip managers to excel in this expanded capacity.

The Evolution of WHS and HR Roles

For many years, WHS Managers focused solely on physical safety, accident prevention, and regulatory compliance, while HR Managers were responsible for hiring, benefits, and payroll. However, the scope of these positions has shifted. Today, WHS and HR Managers are being asked to address a host of personal and mental health issues that influence an employee’s ability to perform and stay safe at work. They are navigating concerns that include:

  • Mental health struggles such as anxiety and depression
  • Family dynamics and domestic issues, including violence
  • Financial stress and its impact on productivity
  • Age-specific health issues, such as those related to menopause
  • The impacts of remote work isolation and new hybrid challenges

The reality is that WHS and HR Managers are on the front lines of these complex issues, and this shift demands new skills, training, and resources.

Mental Health Support: A New Normal for Managers

In Australia, one in five people report mental health challenges, and these issues inevitably impact their work life. For employees, it is crucial to have someone to turn to within their workplace, especially as stigma around mental health declines and discussions become more open. WHS and HR Managers now play a crucial role in creating a supportive environment where mental health is prioritised.

Training in mental health first aid, emotional intelligence, and wellness coaching can help managers approach these issues without overstepping boundaries. However, many WHS and HR professionals have had little formal training in this area, meaning they must navigate these situations carefully. Online training programs, such as those offered by The Answer is Yes, provide tools and frameworks that managers can use to understand and respond to mental health challenges effectively.

Safety Risks Tied to Personal Struggles

Personal issues such as financial stress, domestic violence issues, or personal health concerns can lead to distraction, poor decision-making, and compromised safety. For WHS Managers, identifying these issues is crucial for workplace safety. For example, a worker who is distracted due to financial worries may be more likely to overlook safety procedures or make errors on the job.

By addressing these issues early, WHS Managers can work with HR to connect employees to necessary resources or adjust tasks temporarily to ensure safety. Comprehensive training in workplace wellness and mental health awareness is essential to help WHS Managers perform this role effectively. For instance, the courses on personal resilience and stress management available on The Answer is Yes offer specific strategies to support holistic safety.

Developing Skills Beyond Traditional Training

While many WHS and HR Managers are stepping up to this role admirably, there is a clear need for targeted training. For example, training programs on stress management, trauma-informed care, and wellness coaching can provide the tools needed to support employees through personal difficulties. Topics that WHS and HR Managers may benefit from include:

  1. Mental Health Awareness: Recognising signs of anxiety, depression, and other mental health challenges, knowing when to intervene, and connecting employees with appropriate support resources.
  2. Conflict Resolution and Mediation: De-escalating situations that stem from personal or workplace stress, helping to maintain a harmonious environment even during challenging times.
  3. Financial Wellness Education: Understanding when financial stress impacts performance and productivity, and providing employees with guidance or resources to support their financial health.
  4. Domestic Violence Awareness: Identifying potential signs of domestic abuse, responding with empathy, and directing employees to resources while respecting confidentiality.
  5. Suicide Prevention: Being aware of the warning signs, approaching difficult conversations with sensitivity, and guiding employees toward professional help, contributing to a supportive and safe workplace.
  6. Personal Relationship Support: Recognising how personal relationships can impact work performance and well-being, and providing resources or referrals that can help employees navigate challenges in their personal lives.
  7. Building Resilience in the Workplace: Fostering emotional resilience in employees through wellness practices, mental health resources, and stress management techniques to help staff better cope with pressures both inside and outside work.

Each of these areas can help WHS and HR Managers support employees holistically. Through online courses like those on The Answer is Yes, managers can develop these skills efficiently and in a way that fits around their work schedules.

Ethical Boundaries and Professional Limitations

One of the most significant challenges for WHS and HR Managers acting as pseudo-social workers is maintaining ethical boundaries. These managers are not trained psychologists or social workers, and while they can provide support and guidance, they must be careful not to cross professional lines.

The solution lies in developing clear protocols and boundaries. For instance, an HR Manager may listen and show empathy but should avoid offering psychological advice. Instead, the manager can guide the employee to an Employee Assistance Program (EAP) or external mental health resources.

Building a Supportive Workplace Culture

One of the key aspects of handling these expanded roles is cultivating a workplace culture where employees feel comfortable seeking help. WHS and HR Managers can lead by example, fostering open discussions on mental health, wellness, and personal well-being. A supportive culture not only helps reduce stigma but also creates an environment where employees are more likely to thrive.

Training sessions, workshops, and regular check-ins with staff on wellness topics can help build this culture. Managers can share resources, host mental health awareness events, and promote wellness activities. Companies that actively engage in these practices can expect improved morale, productivity, and retention rates.

The Role of Online Courses in Empowering WHS and HR Managers

To adapt to these new responsibilities, WHS and HR Managers need more than just on-the-job experience; they require structured learning paths that align with their evolving roles. Courses in areas such as emotional resilience, handling stress, and understanding mental health issues equip managers to respond effectively to the challenges their teams face. The Answer is Yes offers these resources, providing accessible, self-paced learning that managers can apply immediately in their day-to-day roles.

By investing in these resources, organisations can empower their WHS and HR teams to support employees without overstepping their bounds or compromising their core responsibilities.

Conclusion

Navigating the Expanded Role of WHS and HR Managers

The shift towards WHS and HR Managers as pseudo-social workers is a reflection of today’s workplace demands. While it is a challenging evolution, it also opens doors for a more compassionate and supportive work culture. By equipping these managers with the right tools, training, and resources, organisations can create a workplace where employees feel valued and supported in every aspect of their lives.

Managers who embrace this role with proper training and resources can become pivotal figures in building a resilient, safe, and productive workplace. By integrating comprehensive training in personal development, mental health awareness, and wellness, WHS and HR professionals can navigate their responsibilities with confidence, making a significant positive impact on both individual employees and the broader organisation.

For WHS and HR Managers seeking to expand their skills and support their teams more effectively, resources like those offered on The Answer is Yes provide accessible, high-quality training in critical areas of personal and workplace well-being.

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Category: Human Resources Tags: ,

Cybercriminals are attacking schools

Cybercriminals are attacking schools, but it’s not the students that are the victims!

Many schools in Western Australia were hacked last month by cybercriminals and parents were the ultimate target.  Schools warned parents that bank details and signatures might have been stolen.  One school was under a four-day cyber-attack which started on 11 June 2019.

A message from one Principal expressed his “deep regret” for the cyber breach which he said was “highly sophisticated”.[1]

The message from the principle, a Mr Rob Crothers stated:

“Parents who may have provided information relating to accounts from which to take fee payments or to make payments to the school could have been compromised if they were sent by email format. Certainly, anyone who has sent information to the college by email, particularly of a financial nature, would be susceptible to the attack having taken place”.

Cyber Attack ‘Shocks Parents’

One parent cancelled their credit card, and parents have voiced their concern over the attacks.  The schools are in reactive mode at present while the attacks are investigated.

One school is looking into improving its process to mitigate future attacks.

Tips

You should always adopt a proactive approach to Cyber-attacks.

This can include ensuring both staff and parents have some Cyber awareness training so that they know what to look out for and what they should and shouldn’t do on the internet.

Also, with a proactive approach, you will know what to do in case of a cyber-attack and advise accordingly.

Don’t wait for the event to happen; be proactive now.

[1] https://www.abc.net.au/news/2019-06-20/nagle-catholic-school-parents-targeted-in-cyber-attack/11227802


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Category: Safety

Tax rulings may mean you owe Thousands!

 

Stay Informed About Recent Tax Rulings

Recent tax rulings could lead to unexpected financial obligations, potentially costing you thousands of dollars. These rulings often arise from changes in tax laws, audits, or re-evaluations of past filings. If you do not understand how these rulings impact your specific situation, you may face significant penalties or back taxes. Take proactive steps by staying informed and seeking professional advice to avoid these surprises. By addressing potential issues early, you reduce the financial impact and ensure compliance with the latest regulations.

The Australian Tax Office’s Note on Superannuation Contributions

On 12 March 2019, the Australian Taxation Office (ATO) clarified its stance on whether annual leave loading attracts Superannuation Guarantee contributions. The ATO based this decision on whether the leave loading qualifies as ordinary time earnings (OTE). Employers must understand this distinction because it directly impacts their required superannuation contributions for employees. If the ATO considers leave loading to be OTE, employers would need to include it in their superannuation guarantee obligations, potentially increasing contributions and altering employee benefits.

Understanding the Common Misconception About Ordinary Time Earnings
Many believe that annual leave loading does not qualify as OTE because it was initially intended to compensate employees for the lost opportunity to work overtime during their leave. This interpretation leads some to assume they are exempt from making additional contributions. However, this assumption may not apply to every case, and the terms of employment, as well as the nature of the leave loading, may create variations in the ruling.

Avoid relying on a blanket ruling. Instead, take the time to understand your specific situation under current tax laws. By consulting with our Subject Matter Experts, you can navigate these complex rulings with confidence. We ensure you remain fully compliant with superannuation regulations and avoid financial penalties. Seeking expert advice protects both employers and employees from unforeseen liabilities and secures their financial well-being.


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Category: Safety Tags:

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