In our latest Parameters survey we asked whether your firm will be closing its doors during the upcoming holiday season and how you view that. Fiona Bond collated the answers.
Split between firms who will and won't be closing their doors
Percentage of paraplanners who think there are benefits to closing up shop
To close or not to close? That is the question faced by many firms over the Christmas/holiday period as they seek to juggle the demands of the business with the needs of their team.
According to Professional Paraplanner’s latest Parameters survey, just over two thirds (35%) of paraplanners said their firms will close their doors between Christmas and New Year, while 33% said their firms will also close but they will need to take the days as annual leave. This compares to 32% of firms who will remain open during the period.
The findings showed that despite nearly a third of firms staying open, most staff are in favour of having an extended break over Christmas. More than eight in ten (87%) respondents believe there are benefits to closing. In stark contrast, just 5% feel it should be a case of ‘business as usual.’
For many respondents, the decision was driven by a desire to enhance employee satisfaction and engagement.
One respondent told Professional Paraplanner: “Employee morale increases and it’s a good period to switch off when there is decreased client need.”
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The findings of the survey also suggested that closing the office for the entire period meant staff were able to properly switch off, without the worry about work piling up in their absence.
One respondent told Professional Paraplanner: “It is a good time to be able to take time off with the knowledge that colleagues aren’t working either and therefore, you don’t have to worry about responding to lots of emails on your return or the prospect of anything urgent coming up whilst you’re away.”
Another commented: “If the office is closed, staff can enjoy the Christmas break without having to worry about work piling up.”
One firm pointed out that the end of the year often prompts a “mass exodus”, with employees forced to use up their holidays by the end of the calendar year or risk losing their entitlement.
Taking time off from work has also been shown to have various health benefits, from enabling employees to relax and recharge to resetting their work-life balance. Many paraplanners agreed that providing the team with the time off would put them in better stead for the year ahead and the busy run-up to the end of tax year.
As one respondent commented: “Everyone needs a break and to spend time with loved ones. Life is not all about work.”
The sentiment was shared by others.
“The workforce gets a rest and feels invigorated in the new year,” said one paraplanner, while another commented: “It allows staff to take a proper break and recuperate fresh for the new year.”
A large percentage of firms surveyed reported a lack of client enquiries and calls during the period between Christmas and New Year, with many clients aware that staff will be taking time off.
However, many said they would continue to check emails and monitor calls in case of any urgent client requests. For several paraplanning firms, operating with skeleton staff on laptops and diverted calls helps them to find the right balance.
“We found that the three days between Christmas and New Year there were hardly any calls and it’s a nice break for our staff to finish the year. At the same time, it’s unfair to force them to take holiday. We give all our staff three days on top of their holiday entitlement,” one firm explained. “The only thing we do as a firm on these three days is ask the three paraplanner/ admin members to divert the phone to their mobile for one day each and keep an eye for urgent emails but other than that, they are free to do what they like.”
Another responded: “When we have remained open, virtually no enquiries come through as this is usually the last thing on clients’ minds during that period. We do, however, have laptops on us so we are available for any urgent matters.”
A further respondent echoed the sentiment: “Emails are monitored just in case but most clients have other priorities over Christmas and the number of enquiries over the period have historically been virtually nil.”
One firm told Professional Paraplanner that on both Fridays before Christmas and New Year everyone is entitled to a day off in addition to their usual holiday entitlement and for the ‘skeleton staff’ who work those days, there is an extra reward.
In addition, the survey also found that closing the office during the festive period removes the dilemma of having to decide who will be allowed time off.
“A lot of clients aren’t interested in coming in for reviews mid to late December. I like that we get a break and there is no disputing over who should work over the Christmas period and who shouldn’t as most people will want to have it off,” said one.
A fellow respondent added: “Being closed means not having to manage what staff are allowed time off and what staff have to work.”
And, of course, giving paraplanners time off during this period, provides welcome down time before the lead in to the end of the tax year.
