Although the ongoing Covid-19 situation has seen demand for goods and services fluctuate in certain industries with income evaporating almost completely for some firms, for payroll and employment practice specialists like Morewood Accounting, the lockdown period has been very much non-stop considering that their services have been vital to the smooth operation of the government’s furlough scheme.
However, rather than cashing in on the opportunity, Morewood Accounting’s managing director, Denise Terzi, has chosen to offer out her business’ furlough scheme payroll services free of charge.
Explaining the motivation behind such a move on the Leaders Council podcast, Terzi said that when clients come away from the Covid-19 period knowing that her business was there to support them, that should help guarantee loyalty and crucial client retention in the long-term.
Terzi said: “I have offered furlough claims as an extra service and not charged any of my clients throughout lockdown, and I hope that this show of loyalty will pay dividends in client retention long-term.
“Fortunately, as the lockdown period had worn on, my clients have become more positive about where they are heading over the next 12 months and that initial shock and anxiety has eased. Many of my clients are confident that they will come out of the pandemic having survived, even if that is not quite in as strong a manner as before.”
It has not all been smooth sailing either: the sheer demand for Morewood’s payroll services to assist with the furlough scheme has proven to be an almighty test for both Terzi and her colleagues.
Terzi joked: “Being a payroll specialist, the furlough scheme has turned my brown hair white!
“It provided a huge test for my staff and we have been doing so many furlough calculations which has kept us busy during this period, so we have had to step up and show we are capable, while acting under new office safety procedures too.
“From a business leadership perspective, one has to be reassuring during a time like this and when employees do need to take stock and just take a few minutes away from the strain, it is about giving them that time and being understanding, and then they will be ready to go again.”
For Terzi, adaptability and flexibility are hallmarks of the ideal business leader in the day-to-day running of a firm, let alone during a time of crisis.
“A leader’s role is to set an example and be adaptable and flexible. Throughout Covid, my ability to show that versatility has been crucial to our success.
“I do not expect any of my staff to do something I wouldn’t do myself, which is where the element of leading by example comes into my own leadership model. If I want people to achieve targets, then I achieve targets. If I want people to work harder, then I do the same.”
Indeed, the way in which Morewood Accounting has been able to navigate the pandemic period thus far has left Terzi hopeful for the future, with her ambitions even as lofty as expanding the firm.
Terzi said: “Over the next year, I am hopeful that we can keep producing good services like we have in the past. I do foresee paper payrolls disappearing in favour of digital alternatives, but otherwise I foresee little change in our business and our industry.
“Since the furlough scheme came in, we have had a surge in inquiries, but we know that this will be winding down in October, which is where our generosity during this period will hopefully hold us in good stead. I am hopeful for the future and I intend to press on with plans I had prior to the pandemic to expand our business.”
