Judging by the number of nursery operators contacting me about the recession, it would seem that a downturn is now being felt across the country. As we all know, nursery facilities rarely cover their expenses until around 65 per cent full, and any meaningful return on capital requires in excess of 75 per cent full-time equivalent. A downturn in occupancy is therefore worrying and painful.
At the Childcare Corporation we have been examining various routes available to us to limit the recession's detrimental effects. We will shortly be seeking to introduce 'performance management' into some nurseries - extracting the very best from staff by making them work super-efficiently as a team. Now is not the time to be offering large salary increases to motivate staff, but through performance management there is nothing to stop you sharing the financial rewards produced from a performance in excess of expectations with those who help produce it.
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