You must provide every employee with an employment contract whether they are casual, part time or full time. This decides the relationship between you in work a work setting.

Such a contract should reflect any employment law as well as verbal arrangements between you as well as any policy or procedure manuals you have, common law rules, implied terms, professional practices or anything else agreed to. You should also review these regularly.

A lot of employers believe that they have to give 3 warnings to let someone go.
While it is a good process to follow there is actually nothing in the legislation that requires this.

The Fair Work Commission says an employee must be given a reasonable opportunity to improve their performance and get feedback.

How to Set Goals for Your Business in 2020. Setting Business Goals, focus on Financial Goals, Infrastructure, Marketing and Internet Marketing goals, Product and Services, Customer service and Staff Goals.
Remember your Personal goals. Why are you in business?
Measure hours worked each week and reduce, so you want to sell your business?
What do you want more of or less of this year in your business?

Businesses need to stop making excuses when it comes to performance. Over the last 3 decades the 2.3 million businesses in this country have produced about 3.7% in after tax profit. Australian businesses produce half the profitability of US businesses on average and one third of local businesses ran at a loss! If you include all of your assets and not just bricks and mortar or equipment then you should be calculating your ROE on the total figure.