iknowho are now paying weekly

With our new migration to weekly payroll, we want to share with you the top tips for managing your money. What do you need to consider when moving to a new pay cycle?

What a better way to get on top of this change then to speak with Mia Taylor, Personal Financial Adviser at Evalesco Financial Services. Mia has worked at Evalesco Financial Services for over 5 years. Her passion for her job stems from her love of empowering her clients to lead happy, healthy and wealthy lives - something we all want to achieve.

We challenged Mia with the question ‘What are your top 3 tips to manage your transition from one pay cycle to another?’

Make a budget

A budget can be empowering, it’s you telling your money where you want it to go!

A change of payment frequency is a perfect time to reset your budget and make sure that you are aware of your fixed costs while reviewing what your discretionary spending is. If you really have no idea what you are spending your money on, start with your fixed costs such as mortgage/rent, utilities, loan repayments, insurance payment etc. Discretionary spending such as eating out, holidays, general personal spending can be harder to record.

Firstly, set what you want to spend in those areas (providing it works within your budget), the next step is to check in with your budget and review against your actual spending. There are heaps of helpful apps available to help show you your budget vs your actual spend, ultimately empowering you to make informed choices about how you wish to continue spending your money.

Change the frequency of your mortgage or rent repayments

As our housing costs can be one of our largest regular fixed expenses, why not see about changing the frequency so it comes out just after you are paid? This will remove the risk of not having enough left over if living pay to pay is currently how you operate.

Another benefit of increasing your mortgage repayment frequency is that you can save on interest as it’s calculated daily and end up paying more off your loan. For example, say your monthly home loan is $2,500pm if you pay monthly at the end of the year you will have paid $30,000. If you divide your monthly repayment by 4 and pay $625 weekly by the end of the year you will have repaid $32,500.

Set up a bills account

We are big advocates of each of your accounts having a specific purpose and setting up bank accounts which will support your planned spending. Most of our clients will have a bills account. If you pay your bills monthly, quarterly or even annually this is going to help you store money away to make sure you always have enough set aside to cover your bills.

Using your budget, you can work out how much your bills are and then set up an automatic payment to sweep money out of your transaction account into your bills account the day you are paid.

We will be bringing you more great tips from guest speakers over the coming months, so watch this space.

To find out more about Mia, read her profile on Evalesco's website.

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Sunny days ahead!

By Kristina Gerdov • 11 Apr, 2024

When 72andSunny asked us to help them recruit a new Client Services Director to spearhead their next stage of growth, iknowho Lead Talent Partner Sheryn Small got to doing what she does best.

Top Tips for Successful Onboarding

By Kahli Fenn • 27 Mar, 2024

Did you know that approximately 80% of people that start in a role will make the decision of whether they will leave in the first few months?Yikes! Talk about pressure to get it right. It’s like they say, you never get a second chance to make a first impression. So let us help you stand out and set your employee up for success! Onboarding starts before the start date Let’s not make the mistake of thinking that once the contract is signed that the hardest part is over. What comes next is your chance to shine! 1 week before the start date - get in touch with your new recruit to say you’re looking forward to having them join the team. Include where, when, and who to ask for when they arrive. If you don’t have this detail yet, let them know that someone will get in touch a few days before to set them at ease that it’s all organised and under control. Develop a structured induction program and block time in diaries for those involved to ensure that all colleagues have this time allocated and can plan ahead. 1 day before the start date - send them a text message. A simple “Looking forward to seeing you tomorrow!” can help new starters feel welcome and will calm any first day jitters. Ensure you have all tech ready to go, including computer passwords, logins, swipe cards etc. It’s a good idea to have IT on standby too as some sort of technical issue is bound to come up. 2. The first day Ever started a new role and looked around to realise it’s a ghost town? Not a great look. Plan to have them start on a day where the majority of people are working from the office rather than from home - we know that culture is key for marketers, so make sure they experience it at its best from day 1. Energy and vibe play a big part in this. Welcome pack. Include a “surprise and delight” when they first sit down at their desk. This could be a mixture of company branded items (like notebook and pens) to a handwritten card or note from them team welcoming them. You may also like to include some added details like the best places for lunch or coffee in the area. Think about your employer brand and tone of voice and what kind of welcome would best represent your style, after all, that’s what the candidate has bought into. I once started a new role and had 3 x coffee vouchers for the best café around the corner, it’s the little and thoughtful things that leave a lasting impression. Assign them a buddy - usually a colleague in a similar role that they can shadow and ask any questions about process, systems or where the bathrooms are! The line manager may not always be available so having this person helps them feel welcomed, supported and part of a community from the get-go. 3. Employee retention How you engage in the first few months is crucial to employee retention. Just as much as it’s time for the candidate to showcase why you hired them, it’s also time for you to deliver on what you discussed in the interview process too e.g. company culture, values, management style. It’s important to set your employee up for success by setting time-bound expectations and objectives, ensuring you’re both on the same page. Breaking these down by month and structuring regular catch-ups to discuss feedback are a great way to have open conversations around performance. E.g. Expectations from months 1-3 vs 3-6. In the first month, we recommend a daily more casual check-in for junior candidates and at least weekly for more senior candidates. Having these diarised, even if short meetings, are essential to allowing open discussion and ensuring everything in on track. We know finding the right person for the role takes time, money and effort, so ensuring you have a solid onboarding process in place is a crucial element to a successful hire. By investing in a well thought out and purposeful process that reflects your employer brand, you are not only investing in your new employees but also in the long-term success of the company. As your recruitment partner, we’re here to support onboarding new hires into your business to help you get the best outcome. Keen to chat on how we can do that for you? Reach out to one of our Talent Partners to discuss.

the word freelance is written in scrabble tiles next to a keyboard

Could a freelancer be the gift your team needs?

By Christine Gilbert • 29 Nov, 2023

At iknowho we understand how busy both agency and in-house marketing teams are in the lead up to Christmas. There are many benefits of using short term freelancers, so let’s explore how they can be a valuable addition to your team through the busy Christmas / New Year period. Short term freelancers offer your team: Flexibility Short term freelancers are available and can usually start within a week. Whether you need a specialist for a short-term campaign or additional support during busy periods, freelancers offer the flexibility and agility needed to meet rapidly changing workloads & high project timelines. They give you the flexibility to hire talent on-demand without the commitment of a long term employment contract (and using our payroll services can help you get around head count issues too!). The skills you need You know the exact projects a short term freelancer will work on, allowing you to hire someone with the specific experience / skills needed complete the tasks at hand. Diverse Experience & Energy Many agency suits and marketers build a career through freelancing. Their diverse experience working with different businesses results in freelancers having a fresh perspective & injecting fresh energy into the team. Competitive Rates iknowho freelancers are paid a day rate which includes a loading for leave entitlements. There are no upfront fees, you only pay for the days they work. And we can also offer payroll services if needed. Download our salary guide for day rate equivalents, or use our day rate calculator here . They hit the ground running With experience in similar positions, freelancers join your team with a fresh perspective and focus on delivering specific tasks. Their ability to hit the ground running and work independently also frees up your time! Although permanent hiring traditionally slows down this time of year, the use of short term freelancers usually picks up. Our clients commonly use short term freelancers to: Deliver high volume work in a short timeframe Cover staff holidays Get around head count freezes Manage ad hoc projects outside their teams’ usual scope of work or current capabilities So, whether you are looking for an AM with integrated experience, a SAM with CRM and social skills, an integrated campaign manager, digital marketer, or even a more senior suit to support team leadership and manage senior clients? We’ve got you covered! Reach out to one of our experienced Talent Partners to discuss your needs today.