Spring has arrived and with that the days are getting longer and hotter once again. Most of us are likely happy to see the end of winter after a long inversion layer period.The arrival of spring also means time for Alexandra to host another Blossom Festival, a large and unique community event both for locals and those who travel from afar.I like to do my bit for the community so at the start of the year I became Treasurer of the Blossom Festival Committee. Now, if you have been on a not-for-profit committee before you will realise that (done properly) they do consume a lot of time. However, given the history and importance of the event to Alexandra and the wider region it was a pleasure to be invited to contribute and assist.What I didn’t realise when taking up the treasurer role was just how significant this event is for the community. I have attended many a Blossom Festival, both as a kid with my grandparents and, more recently, with my own children. Until joining the committee, though, I didn’t understand the scale of event management required. Even more importantly, I had no idea how much money this event raises – money that flows into our community each year.What I find greatest about Blossom Festival (apart from the fact Martin McPherson and team run an entertaining event each year) is the fact that all money raised through grants, tickets or drinks sales is distributed wide and far back into the community. The economic scale of this unique event in a small New Zealand town has blown me away. From an economic perspective, the festival raises a lot of proceeds each year – much brought in by out-of-towners travelling to the region for the weekend – which then flow directly into our community. This benefits locals from areas as diverse as retail, advertising/media, food catering, cleaning, traffic management, equipment hire, prize winners to many more. The Blossom Festival really does provide a material level of economic stimulus to our region each year, which I am sure most other small regional towns would like to emulate.So, while this year I won’t have the privilege of enjoying the festival from an attendee perspective, I will be hidden away in the background doing my part to make sure others enjoy the fantastic line up. But while working behind the scenes, I will take great comfort in knowing that my efforts will be contributing not only to an event with long-standing history in the region but also one that supports the economic prosperity of our region. On that note, when attending and enjoying the event please do take note of the sponsors and supporters who assist in making this event happen. Without them we would not be able to run such a special and important event for the region.

Even before the Covid pandemic, the modern world of work was experiencing rapid changes to the way we operate our businesses.Business transformation is an overarching term for making fundamental changes within an organisation and is typically driven by external pressures to adapt to new market conditions, while still meeting existing and future business targets.However, change is rarely received with open arms by our employees and with business transformation, the clue is definitely in the name! This fear is driven by potential changes in the way employees’ roles are performed, or whether the “transformation” even includes a job for them in the future.The post-Covid era has seen growing demand for automation and digitisation, which has driven concerns about job security, but also opened the door in many industries to provide exciting and alternative working environments.However, while transformation programmes can provide an opportunity to review and cater to employee needs, the transformation process must always be aligned with the overall strategy and business requirements of the organisation, both during and after the change management project.A full transformation program includes three phases: TRANSFORM-OPTIMISE-MONITOR. These define the organisation’s strategy and review work processes that support the execution of the change management process while enabling results to be monitored.Unfortunately, many transformation programs are unsuccessful because too many organisations emphasise the TRANSFORM part of the cycle but don’t follow through with OPTIMISE and MONITOR, which usually fall under the HR function of an organisation.Optimisation initiatives typically underestimate the inherent human fear of change. This can occur when employers are not clear about what the new processes involve, or what policies are in place to support collaborative cooperation throughout the organisation for process improvement.Monitoring is about measuring the desired outcomes from the transformation process. Senior managers are typically process oriented but are removed from specific staff operations and performance.This is why collaboration across all levels of the organisations is essential to any transformation programme to ensure that unanticipated “glitches” are identified and addressed at the earliest possible opportunity before resentment can form and grow.Successful transformation programmes are outcome-oriented with strategies that have been defined into operating models that focus on operational excellence through a time-managed programme.The true measure of success is an organisation’s ability to fulfil customer expectations, comply with industry and regulatory requirements, and provide a high-quality and transparent business operation.Your customers deserve the very best and are looking for customer-centric processes that make you stand out from the competition. To achieve this, you’ll need the whole team on board to collaborate and drive the process to deliver high quality products and services, minimise your risks, strengthen business resilience, and continue to meet compliance requirements.EASI NZ offers a free 1-hour consultation for any of your staffing needs. Get in touch to book yours.

Many people use the terms gambling, speculating, and investing interchangeably, but they are not the same.In fact, understanding the difference between them will help you make better decisions and avoid unnecessary risks when growing your wealth.Let’s explore those differences to help ensure you get the best financial outcomes, along with some enjoyment from the activity.Gambling is placing a bet on an uncertain outcome with the hope of winning more than you lose.Gambling involves a high degree of chance, a low degree of skill and of course some excitement.Playing the lottery, roulette, and slot machines can be entertaining; however, they have a negative expected return – meaning that over enough time, you will lose more money than you win.Speculating is buying or selling an asset with the expectation of making a profit.It tends to involve a moderate degree of chance and skill (cryptocurrencies are a recent example), and it’s usually motivated by the fear of missing out, or “FOMO” as some would say.The returns are unreliable, so sometimes you will make money and sometimes you will lose money.Investing is allocating money to an asset with the expectation of generating income or capital appreciation over time.It involves a lower degree of chance and a higher degree of skill.Examples are buying shares of a company, bonds, real estate, or index funds.The Outlet Podcast Listen to Nathans tips in his interview hereInvesting done well is motivated by research, goals, and planning and so has a positive expected return, meaning that over time, you should make more money than you lose.The main distinction between gambling, speculating, and investing is the level of risk and reward involved.Gambling has the highest risk and usually the lowest reward, especially if continued over the long term. Speculating has a medium risk and a medium reward. Investing has the lowest risk and the highest reward over the long term.Another difference is the time horizon. Gambling is short-term. Speculating is medium-term and uncertain. Investing is long-term and compounding.A third difference is the mindset. Gamblers tend to rely on luck and emotions. Speculators rely on trends and opinions. Investors rely on facts and analysis, letting time and compounding do the heavy lifting.The bottom line is that gambling, speculating, and investing are different ways of using your money to achieve different outcomes.Gambling can be for fun, speculating for excitement, and investing for wealth creation.Knowing which one you are doing, and why, can help you avoid costly mistakes and achieve your financial goals.Our specialty is investing and helping people achieve their long-term goals by working with them to create a plan, implement it, and maintain it.We can also help you understand which of the above you may be engaged in and ensure you are maximising your chances of growing your wealth long term.So, get in touch if you want to make the most of your investment journey.

A picture is worth a thousand words, so the saying goes, and that’s very true when it comes to marketing real estate.The visuals that make up your property advertising have an enormous impact on potential buyers, often making or breaking whether they bother to come view your home in person.As a result, it is important to get the pictures right when selling your property.PhotographyUsing photos to sell real estate is nothing new. What is new is the standard of photography that buyers expect. Photographs should look professional and there should be plenty of them.Buyers want to get a real feel for every room in the house and every corner of the yard. They will be scrutinising the photographs and sharing them with family and friends in the lead up to making an offer.Remember, too, today’s buyers are just as likely to be from out of town as locals – they may never see the house in person and need quality visuals to help their decision making.At Tall Poppy we like to take photographs that give emotional impact and increase buyer engagement. One way to do that is to take photographs at different times of day. Twilight photos that show your home illuminated by natural light or your house lighting can give buyers a completely different sense of the property, for example.VideoVideo provides the next step up from photos, allowing potential buyers to get a feel for the flow of the house and the spaces.Many agents now offer video and it’s something sellers should consider. Just make sure it is professionally done rather than someone wandering through your house with a shaky hand-held phone.Tall Poppy utilises visual content specialists who develop both photographs and videos of a consistently high quality – check out our current listings to see the standard you should be aiming for.DronesDrone footage is increasing in popularity as a selling tool, but it is most useful for lifestyle and rural properties. Properties that cover large areas and have interesting contours and natural features will benefit from a flyover.Drone footage is also useful for showing your surrounding location, for example if your property is near a river or nestled among vineyards.If you think buyers would benefit from seeing video taken by drone, ask your agent about the possibility.Floor PlansIt is surprising how few real estate listings include floor plans in their visual marketing. Buyers are forced to piece together the layout from the photos provided.Yet, floor plans are the most requested visual at Tall Poppy, which is why we include them with all our listings.Don’t make the buyer have to work to understand your property. Provide them with visuals that tell them what they want and need to know while at the same showcasing your home in its best possible light.And make sure your agent is up to the job of making your home look picture perfect.

As the winter chill recedes and the days lengthen, spring brings with it a sense of renewal and rejuvenation. This is the perfect time to ensure that both your home and business are prepared to embrace the warmer months ahead. Here's a comprehensive guide on what to check and address as spring approaches, while also integrating essential insurance considerations.For Your Home:1. Exterior Inspection: Walk around your home and check for signs of damage caused by winter weather. Look for cracks in the foundation, loose or damaged siding, and any issues with the roof or gutters. Address issues early to help prevent more extensive damage.2. Garden and Landscaping: Embrace spring by clearing away any debris, trimming overgrown shrubs and trees, and preparing your garden beds for planting. Consider adding colourful flowers to enhance curb appeal.3. Airconditioning Systems: Ensure your air conditioner is in good working condition before the hot weather arrives. Change the air filters, clean the vents, and schedule a professional service if needed.4. Windows and Doors: Inspect these for drafts, cracks, or broken seals and repair to improve energy efficiency and help maintain a comfortable indoor environment. Check/install insect screens.5. Interior Cleaning: Dust and vacuum all rooms, wash windows, and consider cleaning or replacing heavy curtains and rugs.6. Safety Checks: Test smoke detectors, carbon monoxide detectors, and fire extinguishers to ensure they're in proper working order. Replace batteries as needed.For Your Business:1. Exterior Maintenance: Inspect the exterior for damage, including signs of wear on the facade, parking lots, walkways, and signage.2. Inventory Assessment: Identify slow-moving or obsolete items and consider offering promotions or discounts to clear out excess stock.3. Marketing Refresh: Review marketing materials and strategies. Update your website, social media profiles, and promotional materials to reflect changes or new products/services you're offering this spring.4. Workspace Revamp: Consider rearranging office layouts and adding plants for a touch of nature. Ensure all office equipment is in good working condition.5. Digital Security: Update passwords, ensure all software is up to date, and remind employees about best practices for online security.6. Financial Review: Analyse profit and loss statements, set new financial goals, and assess your budget for the upcoming months.7. Employee Engagement: Boost employee morale by planning team-building activities or events.Insurance Integration:1. Review Home and Business Insurance Policies: Ensure they adequately cover potential spring-related risks, such as flooding or damage from storms. Review replacement sums insured and consider additional coverage if necessary.2. Document Maintenance: As you conduct maintenance tasks, document repairs and changes with photos and records. These records can be invaluable when filing insurance claims.3. Update Inventories: Update home and business inventories with new items acquired over the winter. This ensures accurate claims processing in case of theft or other covered events.4. Liability Protection: With increased outdoor activities, make sure liability coverage for your home and business is sufficient to protect against potential lawsuits and medical expenses.5. Policy Adjustments: Review deductibles, premiums, and coverage limits. Adjust them to match your current financial situation and needs.6. Seasonal Valuables: If you've acquired valuable items, consider adding them to your insurance policy. Many policies have coverage limits for valuable items.7. Discounts and Bundling: Inquire about potential insurance discounts or bundling options.8. Annual Policy Review: Use the changing seasons as a reminder to annually review your insurance coverage. Ensure your policies reflect any changes in circumstances.By combining thorough spring preparations with insurance considerations, you're setting the stage for a smoother and more secure transition into the new season. Taking proactive steps to protect your assets and mitigate risks will allow you to fully embrace the vibrancy and opportunities that spring brings. Remember, preparation today can save you from unexpected challenges tomorrow.

I recently attended an event at Forest Lodge Orchard to celebrate the arrival of a new tractor. Now, while that may seem odd, this isn’t just any tractor. In fact, it is the first fully electric and driver-optional tractor to be shipped outside of the US, and only the 66th one manufactured ever. Wow! This was such a big occasion that it was attended by two sitting Government Ministers, local MP Joseph Mooney, and the President and co-founder of the tractor manufacturer, Monarch Tractors, who flew out from the US for the occasion. I can’t recall the last time two sitting Ministers attended an event in Central Otago (the opening of the Clyde Dam maybe?).What made this such a big occasion was that the delivery of the electric tractor was the last piece of the puzzle for co-founders Mike Casey and Euan White (and their families) to complete their zero fossil fuel, all electric, fully sustainable energy-wise, Cherry Orchard. The orchard now runs highly effectively using only sustainable energy resources, the first to do so not just in New Zealand but the world. In a world where fossil fuel use needs to be reduced and sustainable energy must be focused on more urgently to prevent further climate change, this is a major step in the farming and horticulture sector, and it was done right here in Central Otago!I was incredibly privileged to be invited and proud to see it all come together for Mike and Euan, as I know how hard they have worked to get to this point. I also know how many people they had to prove wrong – naysayers who said it wasn’t possible.What Mike and Euan have done really is a world first and a huge milestone in building a more sustainable farming and horticulture model. Does it have a long way to go to seeing the whole sector convert to a sustainable energy? Yes, of course. But without people like Mike and Euan taking the leap (and risk) with fantastic innovative ideas such as a fully electric/sustainable orchard (that they have developed in a very short period of time, I must add), we wouldn’t even be this far down the track.This is just another example of what I have coined ‘Central Ingenuity’, developing a fantastic innovative sustainable business operation that surely can only lead to further prosperity for our fantastic region and people.To those operating in the sector deciding if they should take the plunge, all I can say is chat to Mike and Euan (even pop out for a look), as after doing so I think you will be struggling for a reason not to get on board.Signing off as a proud supporter of the Forest Lodge Orchard team.

Now that you’ve got that 80’s “classic” by Yazz stuck in your head, let’s talk about career direction!Traditionally, progressing in your work life is perceived as “moving up” – as your career develops, success often means moving into management. However, not everyone is born to be a manager or a leader, regardless of how skilled or knowledgeable they are in their chosen field. Most of us have experienced a work situation where the person managing or leading a team is incredibly knowledgeable, and for this reason has been promoted into a position of leadership; however, they lack the skills or, potentially the temperament, to lead effectively. Leading a team well requires a person not only to be provided with the appropriate training and skills, but also to have a particular personality type. Someone extremely passive in nature, with all the training in the world, is likely to find leading a team challenging. Similarly, an overly assertive person may also struggle to keep a team on board depending on the team dynamics.Another challenge is that as people progress “upwards” in an organisation the positions available become increasingly limited. Therefore, those who do not move “upwards” may feel less valued, or that they need to change employers to successfully progress their career.So, what is the answer for those whom the idea of leadership fills them with horror? Or for those who perhaps are not an appropriate fit as a leader but whose skills and knowledge are of great value? We need to change our thinking and support horizontal career growth and have this held in equal esteem as moving vertically. Employees should be provided with opportunities to learn, to diversify into different areas of the business, to be a leader in terms of the knowledge and skills they can share, to be seen as an “expert” in their skill area, and they need to be compensated accordingly for their expertise, without this being intrinsically tied to also having to manage others. Moving sideways can give employees a much greater overview of your business which in itself can be incredibly valuable. Of course, again, they need to be recognised for this value they are bringing. Continually growing and learning and being empowered to share knowledge with others potentially allows employees to experience greater self-development, build self-esteem and ultimately have a sense of fulfilment in their work life.At EASI NZ we support businesses to develop a staffing strategy that accommodates vertical, horizontal, and innovative career growth while still achieving your business goals. Our recruitment services help identify staff who are the right “fit” for your organisation and the role – in values, skillset and dispositions. Internal mobility should be supported by regular review processes which allow employees to share their aspirations and goals, as well as challenges. Offering individualised career development options often boosts employee performance, leading to better business results. Developing amazing people who are dedicated and loyal to their organisation creates amazing businesses.

The short answer is not much, at least not for the average person. Election or no election, life goes on. People change jobs, move towns, and carry on with their day-to-day living. Those who have to will sell their houses, and those that need to will buy.For investors, however, there’s a bit more at stake.In the past month inquiries from investors have been on the rise in Central. In particular, landlords are looking for entry level homes that will offer a good yield.There’s a perception that property values have levelled off, inflation has stopped rising, and that further interest rates hikes will be unlikely. The banks are also signalling that the peak volatility is behind us, with two- and three-year mortgage rates easing somewhat.These conditions give investors some confidence to return to the market, and just as well as there’s a real shortage of rental properties in the whole Lakes and Central region.Healthy homes and other legislation affecting landlords have had some unintended consequences. Some have opted out of being landlords and others have pivoted to AirBnB or other short-term rentals. In tourist areas like ours that makes a lot of financial sense for the owners – but it also means fewer houses for locals to rent.An increase in migration since the borders opened up post pandemic has also put pressure on housing supplies.This is very noticeable in the seasonal work sector, and it will be interesting to see how our region comes come the new season. Many horticulturalists are having to build or supply accommodation for their workers. These, rightly, must meet certain standards, so the sector is facing increased costs.Land, too, is in demand and sections have come back in value over the last few months. With building costs having risen sharply in the last few years there’s a sense that there’s no point in waiting any longer.Nevertheless, there’s still a cohort of investors waiting quietly in the wings to see how the election turns out. They’ll be hoping to see some policy changes come into effect after October. Some of the political parties are promising to relax Brightline test rules, change some of the tenancy requirements, and rework tax deductibility.It’s unlikely any changes will be immediate, however, so now is as good a time as any if you are considering real estate investment.Come in for a chat if you are thinking of getting into property investment locally.  

Earlier in the year I read an article about Monte Christo Winery. Built in 1871 by Frenchman Jean Desiré Féraud, it is the oldest winery in the South Island. The article provides some fascinating insight into some of the history associated with our region and is well worth a read in its own right, but it's the redevelopment of this winery that is underway I would like to focus on.Dr Stanley Paris and his two sons (one of whom is a Master of Wine) have taken on the lease of the winery. They are in the process of developing a new cellar door and guest villas on site to essentially rejuvenate an incredible piece of history for our region. I can't wait to see the end result, visit, and support such a great initiative.What I love most about this news (apart from the fact there will be another amazing Central Otago wine to sample!) is that it's another example of new capital investment into our great region that will further drive economic prosperity for all. The article states that the Paris family want to “introduce Central Otago and, particularly Alexandra, to the rest of the world.” I can't help but think what a great idea this is. Not only do we see the restoration and preservation of a great bit of local history, but it will also drive new economic activity in the area via tourism and general marketing of our region offshore. I have not had the privilege of meeting the Paris family yet, but when I eventually do (after all we do live is a small town!) I can't wait to thank them for investing in such a great initiative. The more initiatives/investments like this in the Central Otago region then the more tourists we will start to pull through the Kawarau Gorge to further support our local economy.I have the feeling that this is only one of many new capital investments we will see in the coming years for our region as more and more people look to move here and enjoy what our region has to offer. And in terms of driving the economic prosperity of the region, that simply has to be a good thing for all.

Mentioning “performance management” often instantly invokes negative reactions, stress, and thoughts of underperformance. In reality, having regular, proactive, and reciprocal reviews can have a really positive impact on generating open communication within a business. This approach supports employees to succeed, rather than simply addressing matters if they don’t.We work with a diverse range of small to medium enterprises and, often, when we suggest holding Business and Performance Reviews every quarter, the initial response is this seems very time-onerous or “over-kill.” True, it does take time. But once the process is up and running it will normally be pretty painless and far less time-consuming than addressing under-performance. It’s certainly less time-consuming and costly than recruiting a new employee. So how does it work? We suggest making regular reviews a reciprocal process with both the employer and employee sharing plans, ideas, challenges, and successes. That way, if there are challenges (perceived by either party), they are addressed early, giving the employer the chance to help and the employee the best possible opportunity to succeed. Where there is a problem and no platform for raising it early, an issue may escalate into a far greater and more complex problem. Worse still, an employer may be unaware of a problem until the employee resigns.But what if there are performance issues? If an employee is not cutting the mustard and significant issues are present that are impacting on business productivity, then don’t wait for the regular review process. Address it quickly.Often, employers feel there is nothing they can do about an underperforming employee. They perceive that their hands are tied, and they just need to put up with it. This doesn’t need to be the case. Yes, there are processes which must be followed (we can help with that!); however, it does neither your business nor the employee any favours to leave performance issues unresolved. Some employers avoid raising underperformance concerns as they feel it doesn’t fit with their culture of caring for their staff. Again, it does no favours and may generate bad feeling within a work team. You run the risk of losing an excellent employee who gets fed up with someone else getting away with not pulling their weight. Going down a formal performance management route doesn’t need to be seen as a negative process.  In fact – ideally – the reason you are doing so is to support the employee to succeed. There’s a chance you could end up in a situation where their position is no longer tenable, but a well-run performance improvement plan will support an employee who is capable and willing to raise their performance to succeed in doing so.How can we help? At EASI NZ we can tailor our support to your needs – whether that is setting up and running your performance reviews and any performance improvement plans, just getting you set up, or advising and helping you navigate your way through the processes successfully.

Almost everyone buying or selling a house browses Trade Me at some point. The site has become the go to for real estate and as such generates an amazing amount of data.Recently Trade Me reported to agents on the latest trends and insights in real estate nationally and there’s a few things worth sharing.1.     The decline of traditional advertising mediums – the move to digital advertising has been happening for some time but was accelerated by the pandemic. It’s the only medium growing while all others (newspaper, radio etc) are in decline.2.     Changing consumer behaviour – did you know the average person now spends 8 hours a day browsing the internet? Interestingly, many of us are spending more time on our phones and far less on laptops, computers and tablets.3.     The shift to a buyers’ market – this has occurred over a three-year period. In 2021 a house would spend an average of 31 days listed on Trade Me for sale. That increased to 57 in 2022 and is now sitting around 60-67 for 2023. In real estate terms that means the market has moved from “hot” to “cool”.4.     The rise of the regions – better affordability continues to attract people to the regions, with one in five buyers purchasing due to relocating. Otago has been flagged as a region to watch as there has been an increase in average views per property listing.5.     Working from home – every region in NZ had more people searching with the words “home office” and “study”. Positioning your house as remote-work friendly is more important than ever.6.     Buyers are less risk averse since Covid-19 – it used to be unthinkable to buy a house without seeing it in person. Now people are willing to take that chance if they have someone to view on their behalf, there’s high quality photos/video, it’s brand new and/or a comprehensive building report is done.Trade Me’s report offers a national snapshot, but their insights tally with what’s going on locally.Central Otago has had a very busy May/June in residential sales in Alexandra and Cromwell. There’s still a lot of interest coming from outside the region as we remain a desirable lifestyle destination.Stocks are low at the moment, though, as many potential sellers do the traditional thing and wait for the daffodils to bloom before going to market.My advice is not to hold back if you are thinking of selling. There’s less competition and still plenty of buyers around.If you are concerned about the season impacting the desirability of your home, please get in touch for some ideas about winter presentation.

A requirement of holding and maintaining my Chartered Accountancy qualification is ensuring I complete regular, continuing, professional development training to remain current in my profession. As such, I recently attended a tax road show training. I won’t bore you with all the details – avoiding those is why you hire someone like me to help you –but I want to note just how many tax law changes have come into effect in recent years and just how confusing some areas of the tax legislation have become.Over the past seven years I think there have been more changes to the tax legislation than during the rest of my approximately 25-year professional career. Maybe I exaggerate slightly, but there have been a huge number of changes to tax laws in recent years making things increasingly complex.Where am I going with this? Well, based on the course I have just attended I don’t think there has ever been a period where people have needed to seek advice from their accountant more than now.This particularly applies when completing tax returns and when buying or selling property. The bright line property tax law is a classic example of this.Not only is there a bright line test, but there are three iterations of legislation to follow based on the various changes the Government bought in over time. These are, firstly, the two-year test, secondly, the five-year test, and, finally, the 10-year test. Then there is the risk that while a sale may be exempt from the bright line tax, any depreciated property associated with the house may not be. Exemptions are further complicated by scenarios where someone rents out a portion of their personal home, or they don’t live in their personal home for a period of time.I am a big fan of keeping things simple. Simple is good.However, coming away from the tax road show, I can’t help but feel that all the changes to the tax legislation are starting to make everything far too complex – to the point I am not even sure the recent changes are achieving what was initially intended by the Government.It is an election year and so we will soon hear what the various parties want to do with regards to tax legislation. Whatever their agenda/intentions, I hope that some can take a step back and at least look to simplify the system for all involved rather than making it more and more difficult to interpret. In the interim period, you may want to consult with your accountant if you are not sure whether everything is in order. As I just found from my latest training, there is a lot more to take into consideration than you may be aware of! 

Artificial Intelligence (AI) is the talk of the town with at times polarising views expressed about how it’s going to revolutionize our work and take over the world. I must admit I am cautious about its impact but, as I see the potential positives, I am coming round to the fact that it could be a useful tool if used correctly.I emphasise tool because as it stands that is exactly what AI is. At least for now, it is not going to completely replace the work done by us humans, but it could help to streamline things and help us work more efficiently. Will this mean people being replaced? Again, it certainly won’t replace a whole workforce, but it could mean that some more basic work might be AI generated, freeing up time and resources to focus on more knowledge intensive, creative, or nuanced efforts.Writing employment agreements is one of my “bread and butter” tasks – so to test out whether I am likely to be replaced imminently by a robot I asked Chat GPT to draft a fixed term agreement under New Zealand Law, giving it certain parameters to include. I must say, I was rather underwhelmed! There were key areas missing – I thought it might give me an agreement that at least met the minimum requirement for NZ laws, and I accepted that it may not be well tailored to my “mock business” but, unfortunately it fell short of even that. AI is still learning. Over time the information Chat GPT is using will be updated, but key components of what we do require human input. In HR that means ensuring employment paperwork is not only meeting legal requirements, but also that it is used appropriately in the given context and tailored to meet our clients’ business objectives.That said, I do love Chat GPT when I am completely stuck for words or everything I come up with sounds clunky and awkward. I can type in the basics of what I am trying to convey, and it can provide me with numerous suggestions which I might tweak or combine to get the tone I am seeking.   I am certainly only at the beginning of my AI journey; I have recently heard of other AI integrations in apps that we use that could help to streamline work and allow time to be focused on client projects. So, am I worried about AI replacing me? No, at least not yet. I still tread with caution, but used as a tool rather than to replace a person AI could help to support us in achieving excellent results while focussing our energies on the more complex areas of our work.At EASI NZ we can help you to make sure that your employment paperwork (whether it is drafted by us, you, a template or a robot!) is fully compliant with NZ legislation, that you are implementing it correctly in your business, all while ensuring it ties in with achieving your business objectives. 

Currently, houses in Central are taking, on average, more than two months to sell. As a seller, sitting a long time in the market is a frustrating experience. It’s tempting to lay blame at your real estate agent’s feet.However, more often than not, a slow sale reflects both the market and the pricing. Over the years, I’ve seen many people fall into the trap of telling themselves to ask high because “we can always come down in price.” In practice, this works to the detriment of the seller. Savvy buyers won’t engage with sellers when they perceive the asking price as unrealistic. Sellers then end up overpriced in a falling market, their price aspirations getting further away from cold, hard reality. A realistic asking price, in contrast, triggers opportunity. Where potential buyers perceive good value the come looking, engage in negotiation and often end up in competition with others who see the same value. If you genuinely believe price is not the reason for a lack of interest in your property, then you may want to consider changing agents. You typically sign a 90-day contract with an agency. In the old days, this would then roll over automatically into a general listing rather than an exclusive listing.Nowadays, your agent is likely to approach you for a renewal as the 90-day term nears expiry. You can extend with them for a negotiated period or you might look elsewhere.It is acceptable for you to approach another agent or agency prior to your 90-day contract expiring so that you can go from one agent to another without missing a day on the market. Or, you might decide to take the property off the market and rest it for a while before returning with someone new. Most times we see sellers changing agents it is because the relationship has not been great or the seller has found someone with greater expertise in their type of property (e.g. farms or lifestyle blocks). Sometimes, vendors change agents when they find that an out-of-town agency or agent can’t offer them the local advice and access to local buyers that someone based in the area can. Sellers sometimes choose their agent based on prior relationships – a friend of a friend or the person they bought the house off – but find that a slow market needs particular skills found elsewhere. A few years ago, vendors would often consider a general agency (meaning multiple agents from different companies list your property) versus a sole agency. With all properties visible online these days, that no longer makes sense.In fact, at Tall Poppy we believe that it is better to have one agent acting as your single point of contact to take responsibility for the whole process from beginning to end. Of course, our agents will work with others to advantage the seller, but the old concept of a real estate team is not so relevant in the digital world. So, by all means, consider changing your real estate agent if you feel things aren’t working for you. But also make sure that you have pitched your property at a realistic price point. 

If you like the idea of an investment expert working in partnership with you to help ensure your financial security then the answer is probably a resounding yes!People like me – with a close eye on financial markets who thrive on figuring out the best way forward – are passionate about managing investments for the benefit of clients.For most people, looking after, whether growing or keeping, their money with a view to long-term security is a fraught process.Without expertise in the financial field, it can be hard to know what investment vehicles are right for you from the myriad on offer – how do we know what is a solid investment idea versus what is somebody else’s marketing concept?Watching your hard-earned capital grow and shrink as the market expands and contracts can be a nerve-wracking experience. Volatility and uncertainty can be anxiety-inducing if you don’t fully understand market cycles and when to act versus when to ride the peaks and troughs.Often, you are emotionally attached to your money and find it hard to make dispassionate decisions based on calculated risk.Maybe you have a set of unique circumstances due to your family structure or dynamics, or you want to prioritise leaving a legacy of some kind.Maybe you are reluctant to spend after so many years focused on accumulation.That’s where wealth advisors come in. Planning is the key, to helping you relax about your finances.Take my story, for example. I joined the finance industry just before the GFC. It was a great time to learn what works and what doesn’t, what to be wary of and what to avoid when it comes to investing.Working in the corporate investment world, I gained a good understanding of regulations and the full range of investments.I also learned the value of customer service – of building personal relationships, sharing knowledge, listening, and empowering clients to make the best decisions they can.That’s why my business partner Hugh Going and I set up Collinson Wealth Partners. My partner, daughter and I have chosen Central Otago as our home for the lifestyle and due to my family’s historic ties to the area. We love it here and love the connections we are making.But what I’m really passionate about is partnering with people like you to build financial security and peace of mind.So, if your investments are keeping you up at night (or, worse, you don’t have an investment strategy!) then I encourage you to make an appointment with a wealth advisor. While it doesn’t need to be Collinson Wealth, my door is always open.

When, where and how to live in retirement are questions we all face sooner or later. Fortunately, locals’ options are about to improve.When I moved back down south, I set a challenge to myself to leave the area in a more prosperous position than when I arrived. One thing I knew well before I returned was that the Central Otago region desperately needs more health care services for its (growing) communities. This need spans the healthcare spectrum, from primary healthcare and hospital facilities to retirement village and aged care services.My ability to assist in resolving primary and hospital care services is limited – we need to rely on (and likely lobby) central government for these services over time. For the record, the Central Otago/Queenstown Lakes region is now at a size that plans should already be underway for a large fully serviced hospital to be placed in the region; travelling 3 hours to receive acute care for a population of this region’s size (and growing) is simply not acceptable. However, my background in financing retirement village and aged care facilities around the country has allowed me to partner with local investors as a director of the new Aurum on Clutha Lifestyle Village in Clyde.I vividly remember attending a business breakfast meeting about spatial planning soon after arriving in Central.  It turned into a rather heated conversation about where retirement villages and aged care facilities were in this plan. The council can’t be asked to deliver such facilities, which are highly complex and require specialist input, but the meeting highlighted the need for these services in our community.That’s why I am incredibly excited and proud that in a few weeks’ time the first residents of the 128-villa retirement village will be welcomed in. The village will have an amazing array of community facilities for residents, and over time a continuum of care from village to full aged care (including dementia) services. The two main reasons residents enter a retirement village are companionship and security, followed closely by health and downsizing requirements. If these are current concerns for you, or you are looking to plan ahead, then Aurum on Clutha could be an option worth exploring.You can attend the first open home on Saturday 3rd June 2023, by popping into the village on Mutton Town Road.If the village lifestyle appeals, I recommend discussing your finances with your accountant or financial planner to help prepare for the transition.So, when I look back on the challenge I set myself to leave the region in a more prosperous position than when I arrived, developing this community asset for the community is a pretty good start. 

Is Gen Z as lazy as claimed to be? My grandmother used to lament “the younger generation have no idea what hard work is!”  While not looking directly my way, she left no doubt as to who she was talking about - me!Usually, her complaint meant I was not doing what SHE wanted at that moment in time. Of course, she never articulated what she wanted me to do until after the fact. A lack of clarity around the expectations of a job commonly causes a relationship breakdown between employer and employee. Recruitment, when done well, is expensive. It is not just the process itself but the “lost opportunity” of time spent to induct new people. In addition to training, new employees need background on the company, the services, the messaging to customers, suppliers, and the public. But bad recruitment is even more costly! A clear job description (JD) against which you can screen your prospective candidates is a crucial recruitment step. Workplace JDs may be non-existent, incomplete, or no longer reflect the employee’s role. How is a new recruit supposed to know what to do, or even what they signed up for, if the JD is not accurate?Why did I employ a Gen Z? It’s less about the age of the person and more about the job I needed filled. There were applications from incredibly talented individuals; however, most were over-skilled for the job. I needed someone keen to learn, who would enjoy the role for what it is, and who meets our company’s values.Enter my Gen Z applicant, a part-time student on a scholarship that demands a B+ average. That doesn’t sound lazy to me. Do I care that she is young? Not a jot. It’s an advantage in a business where technology rapidly changes, and youth often contribute new skills if you’re willing to embrace them!So, what makes my Gen Z different to other youth who supposedly “don’t know what hard work really is”? Nothing, except I’ve taken the time to be clear about expectations. We are taking time to SHOW what her we want, and know where to go, or who to ask, if she has any questions.I check in daily in the first week to make sure that she is comfortable with the speed she receives information. Next, I’ll check in weekly, then formally at four weeks before slotting into regular quarterly reviews to monitor progress. If things don’t work out with a Gen Z hire, ask yourself honestly if you’ve set them up to fail. Older hires tend to have experience behind them and can often anticipate requirements but it’s all new to Gen Z. So, if it’s not working out, which part of the process have you not completed? For more information and advice on employment and diversity in the workplace, give me a call on 021 665 013 or email [email protected]

It’s been a tough market for people looking to sell their house over the last few months, but there are positive indications of better times ahead, especially here in Central.According to CoreLogic NZ's monthly update, there are signs of stabilization in New Zealand's property market.Those signs include a reduction in price falls, an easing in listing numbers, and lower sales volumes. Although house prices continued to fall last month, the market fundamentals are showing resilience. Together with the stabilisation of mortgage interest rates that indicates a possible end to the country's extended property downturn. Realestate.co.nz data also shows that sellers are being realistic about asking prices. The gap between average asking price and median sale price has remained fairly constant over the past 16 years, suggesting sellers are meeting the market.While uncertainty remains high, confidence is growing that the market's downturn could end in the second half of 2023.  That’s influenced by factors like continued high employment levels, rising net migration, and the possibility of some investors returning to the market. Additionally, it's worth noting that the Central and Lakes areas in New Zealand are continuing to attract buyers from across the country due to their desirable lifestyle. Our regions offer stunning natural landscapes, outdoor recreational opportunities, and a relaxed pace of living, which has made them a popular choice for those seeking a change of scenery. With the property market showing signs of stabilization, it could be an excellent time for buyers to consider investing in these areas to enjoy the perfect lifestyle.I’ll keep you updated on property market trends over the year, but if you have any questions about buying or selling in the meantime, please get in touch.

At the risk of been tagged as a stereotypical accountant, I was fascinated by economics from an early age. What interested me is the economy we operate in is essentially behaviourally driven, determined by the day-to-day choices people make.Currently, interest rates – especially the speed with which they have increased recently – are impacting some people and the choices open to them.Circa 12 months ago, interest rates were less than 3%; now you are lucky if you can lock in a fixed rate at lower than 6.5%. Approximately 50% of fixed loan mortgages are due to refinance in the next 6 months, with most of those mortgage interest rates likely to at least double. For example, a $500,000 mortgage at 3% equates to an annual interest cost of $15,000 per annum, whereas a $500,000 at 6.0% equates to $30,000 per annum. This means the borrower having to pay an additional $1,250 of interest per month ($288 a week). That’s a lot.If you are one of the 50% of fixed mortgage rate holders about to refinance, then you need to be thinking about how you are going to cover such an uplift in interest expense sooner rather than later. If you leave it too late the options tend to be more limited.So, what options exist? I have been working through this with clients recently, with the following options being considered/implemented:1.  Budgeting / Cost Reduction: If you are going to need to pay a further ~$300 a week in interest as per the above example, then now is the time to have a good look at your spending habits and work out what can be cut from your daily spend/budget to bridge this gap. This may require you to make some material sacrifices for a period of time, but the sooner you look at where you can and can’t reduce spending the better prepared you will be for dealing with the increased finance costs.2. Sell Assets to Reduce Debt: If cutting back on day-to-day costs isn’t an option and/or won’t cover the full uplift in interest expense, then you may need to consider selling some ‘luxury’ items around the house or garage to reduce debt and thus the interest expense you need to pay.3. Additional Income: With unemployment at record lows, you may also want to consider picking up additional hours/income to cover any shortfall. 4. Downsizing: An absolute last option, but if after assessing the first two options you still are going to struggle to meet your finance cost obligations, then this may need to be considered.Judging by discussions I have recently had with people, not everyone is aware of the material increase in finance costs they are about to need to service when their fixed mortgage rolls over. If you fit into this bracket, now is the time to carry out a ‘warrant of fitness’ on your financial position and look to put a plan in place. If you need help, contact your accountant or financial adviser who will be able to assist.