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Continuing Your Job Search Remotely

Even before the pandemic changed the professional landscape, remote work was an increasingly common part of the business world. Technological advancements made it possible for employees to stay connected and contribute remotely, and a growing number of employers recognized the value of offering employees more flexibility and, ultimately, a better work/life balance to expand their candidate pools and keep their employees productive and engaged. Kitchen tables transformed into makeshift workspaces and in-person meetings gave way to tele- and video-conferencing. Similarly, finding a job has taken on a virtual component.

If you’re one of the millions of people who are searching for a newn opportunity right now, you havewill probably noticede that the process is decidedly different from the last time you were in the job market you were.. Most likely, you are alreadywere familiar with the protocols of emailing your resume and portfolio, searching through online job sites, and being mindful ofpaying close attention to your social media footprint. Now, however, it is common to go through the entire interview, offer and negotiationng processes without ever meetingspeaking to anyone from the potential employeranyone in-person. In fact, some organizations even are onboarding new employees remotely, as well. This is more convenient in numerous ways, but it also comes with a new set of challenges and requires more self-motivation and diligence than ever before. .

SomeMany professionalseople can thrive no matter whatregardless of the environment, but others are more comfortable when they have clearly delineated boundaries between work and home. Remote working of any kind blurs these lines and makes it more difficult for some to shift gears. Just like working from home, This is why stickingcommitting to a routine during your remote job search is key. This might meaninclude setting attainable goals such as updating your resume by a specific date or applying to a certain number of opportunities each day. This will allowway, you to can overcomeavoid procrastination falling into bad habitsand avoid  or feeling overwhelmed.

HAt times like these, having a strong professional network of professionals in your field is also now more important than everbecomes even more important. With so much of the business world shifting to flexible remote work environmentsarrangements, the opportunity for impromptu or everyday networking has suddenly disappeared. Conversely, this also meansthe people in your circle may be come moree accessible through emails, phone calls and social media. Be sure to keep in touch with them on a regular basis — whether it’s a friendly email asking for advicean insight or a virtual coffee break to discuss industry trendshappenings.

For these and other tips you can use to stay focused and be successful with your job hunt –, even while you’re stuck at home –, see the accompanying infographic. It provides hints and reminders that can help you find success when navigating the virtual waters of the current labor market

Infographic provided by The Jacobson Group, an insurance staffing agency
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Business

Survey stuff: all about cadastral land surveying

Most people hear the term “cadastral surveying” and don’t have the slightest clue what it is. This is understandable, as it’s not something that is brought up in everyday conversation.

However, it is an important process for property owners and councils who require information regarding local boundaries.

Cadastral surveying and documentation are utilised to track and display the boundary lines of both public land and privately owned real estate. Cadastral GIS data contains information regarding property lines and their legal interpretation.

This information can then be used to produce:

  • Cadastral maps, which can include land ownership
  • Tax and value assessments
  • Parcel numbers
  • Linework
  • Dimensions
  • Acreage and;
  • Topographic mapping

Why do you need cadastral maps?

Data regarding cadastral parcels, defined as a continuous land volume identified by a unique set of homogeneous property rights, are held in a repository that staff and landowners can easily access, browse, update and query.

Cadastral systems are typically utilised for applications such as:

  • Establishing land ownership,
  • Supporting land market values
  • Apportioning taxes
  • Calculating agriculture
  • Mortgage applications
  • Subsidy payments
  • Forest and vegetation management
  • Utilities
  • Municipality property management
  • Geology
  • Population
  • Agriculture
  • Industry and;
  • Graphic recording of water resources

3D spatial database management systems and 3D cadastre information modelling are utilised to manage GIS cadastre data, register the complex infrastructure associated with town expansion and create a 3D topology spatial profile.

How is cadastral surveying undertaken?

Cadastral mapping and surveying is performed by a cadastral surveyor, who adheres to both spatial-measurement and legal principles in physically determining a property’s boundaries. Cadastral surveyors cross maps of adjoining properties, reference deeds, survey records, utility maps and other legal documents regarding property boundaries.

Data from these records is evaluated for any errors, followed by a professional field survey, where surveyors use cadastre survey technology – including ranging rods and laser scanners – to determine the property’s boundaries as well as run a traverse around the property and mark metes and bounds.

Cadastre documentation – produced by the parties concerned, legal advisors and licenced surveyors – contains cadastre survey data and is submitted to land or cadastre admin locations for their records to be held for further use.

Cadastral survey software and GIS technology solutions help land information agencies management cadastre data by providing an open, versatile system that facilitates the production of specialised cadastre plans and maps, database information leveraging, spatial data services integration, adherence to information technology and legal standards, reporting and sharing between agencies and clients as well as dynamic visualisations that can be utilised for geographic inquiries.

Why cadastral mapping is necessary

Cadastral mapping is the only way to provide legitimate, precise, highly accurate and readily available records for information regarding legal land rights.

Establishing titles, development, urban planning, land readjustment which subdivides irregular shaped parcels for standarding utility services, valuation of informal land, mapping and valuation, improving property tax collection and valuation of informal land are just some of the reasons why cadastral surveying is an integral part of property ownership.

It is perfect for property owners

Cadastral surveying may sound complex, but it is an important part of property ownership in Australia. The process has so many important benefits for both property owners and councils looking to keep detailed records of its land boundaries.

There is a subtle art to correct cadastral surveying, and this is why it is vital that it is performed by a reputable company that can ensure a clean, accurate land survey is completed.

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Business

Why does the name of a loyalty program weigh with the customer?

The loyalty program is a great tool to build customers’ confidence in the brand. This is noticed by more and more companies that are willingly implementing this type of solution in their marketing strategies. However, there is more than just owning a loyalty program and there’s the rub. It has to be well-judged and planned in order to be successful. Nowadays, offering only a plain system of collecting points is not enough. The customers expect their favorite brands to exhibit a higher level of creativity, attempting to gain their loyalty.

Thus, when creating a successful loyalty program it is important to make the customers using it feel appreciated. In that every positive and absorbing experience will cause the “I want more” effect.

Co-branding is also a meaningful issue. Loyalty programs should be considered as an adjunct of your brand. So, if you are a luxurious products retailer, it is worth making the program VIP themed. On the other hand, if you sell pets food and accessories, your program should be more laid-back, with educational threads. It is all about tailoring the value of a loyalty program to your brand’s goal. This makes its effectiveness higher.

Your strategy that’s helping to build customers loyalty, should also have a catchy name, connoting your brand’s name. It can be done two ways: by combining the name of the loyalty program with the name of your brand or an offered flag service. It is important to add a second limb that has a positive tone, encouraging to take particular actions. Let’s analyze the names of popular brands’ loyalty programs.

The name of a loyalty program – let it sound similar to your brand

Let’s take a peek at a loyalty program of a well-known, multinational fast food restaurant franchise Subway. The program, which encourages the customers to visit the restaurant more often, is called “Subcard”.

What we can see first, is the prefix “sub”, which directly brings to mind the name of the brand. Second, the suffix “card”, which implies the affiliation and allegiance. Conclusion? Customers feel that having a Subcard program makes them closer to the brand.

Another example is the Swarovski brand, known for its beautiful products, mainly jewelry made with lead glass, colloquially called “crystal”. The name of the loyalty program is simply “Be Swarovski”. Some people think that the creators didn’t show much creativity, but in this case the simplicity is a huge advantage. The first association with the Swarovski brand are crystals, which in turn bring to mind luxury, wealth, exclusive lifestyle. By extension, “Be Swarovski” simply means “be rich, live luxuriously”.

Another brand, which created its loyalty program name on a similar basis, is PetSmart. The company sells pet food, accessories and nursing services. When creating the name of a loyalty program, the word “Treats” was added to a brand name. Treats are taken positively, as for pet owners this word mainly means pet snacks.

The name of a loyalty program: let it put in mind of your offer

Some companies, such as The North Face or Sephora had different approaches to creating their loyalty programs names.

The former is a global company which offers professional mountaineering clothing and footwear. Their loyalty program is called “VIPeak”. It is a blend of two elements, for which the letter is a common part. The first element is VIP acronym, which means a very important person, second – peak. This combination shows that The North Face customers are specific and unique, as not everyone can deal with a tough alpine journey. Moreover, in a simple way it brings to mind mountains. When you climb, you always have a “peak” to reach.

Sephora, a beauty supply store, took a punt on the name Beauty Pass. The name puts in mind of the ticket to be beautiful. Sephora, deciding on such a name for its card program, wanted to show the customers that this is the place which helps to expose their beauty. However, in some countries the name of the program is Beauty Insider, which on the other hand connotes the idea of being a beauty expert.

Summary

After analyzing the examples above, it is clear that the name of a loyalty program is of great value. What you should draw attention to? An optimal name should be:

  • simple, so that it can be easily remembered;
  • catchy and creative, so that it keeps customers mind and stands out in the “crowd”;
  • referring to the name of the brand or an offered product/service, so that it goes to make the brand’s “extension”.
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BusinessNews

5 Compelling Reasons Why Your Business Needs SEO

As many consumers shift online, even traditional businesses now realize the benefits of incorporating SEO as part of their marketing campaigns. If you haven’t incorporated it, you are missing out on the many benefits it offers to businesses, which could be why your competitors are always ahead of you. Below are some of the reasons your business needs SEO.

It Enhances Visibility and Ranking

Sometimes, a business website is what a potential customer comes into contact with. That means it has great potential for generating leads and sales.

Many people turn to the google search bar whenever they are looking for something. If you don’t have a website or its ranking in the last pages where no one is likely to go, you will lose. When you take your SEO campaign seriously, your site will rank high, and potential customers will identify your site and want to do business with you.

It Builds Trust and Credibility

Trust and credibility are very crucial for the success of any business. When you incorporate proper SEO practices, your site will rank higher. Consumers believe that search results appearing on the first pages are credible and are more likely to do business with you.

It Is a Long-Term Strategy

SEO will benefit your business for years to come. It is not a marketing strategy that will be of use for some time and then lose relevance. That means the effort you make today will pay off for several days to come. However, it’s good to understand that SEO is ever-evolving, and you’ll need to make updates regularly to keep up with the trends. However, keeping up with the updates can be overwhelming, especially when you are not very good at SEO. Luckily, you can hire a Dallas SEO company to take care of all your SEO needs.

It Creates a Good User Experience

Every SEO marketer wants better visibility and ranking of their site. This cannot be possible without a good user experience since search engines reward sites that provide a better user experience and may penalize those that don’t. A good user experience will not only help your site to rank higher but will also increase your conversion rates. It does this by encouraging consumers to remain on your site longer, get the information they need, and even go ahead to make purchases. Consumers get frustrated with sites with poor user experience and leave them very quickly.

It Helps You Understand the Consumer

Understanding the needs of your consumers greatly helps in decision-making, such as which options to push. It also helps you overcome assumptions that are not real but your own prejudices. Using SEO is one of the surest ways to understand your consumers’ intent and needs. It helps you understand your customers through several ways, such as search query data, analytics data, and SERP analysis.

SEO is one of the most viable and effective marketing campaigns every business should embrace. From enhancing visibility and ranking to building trust and credibility, the benefits of SEO cannot be ignored. Some of these benefits cannot be provided by other marketing campaigns.

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Business

Factors to consider when becoming a successful trader

You may have seen other articles on becoming a trader that mentions the need to have certain traits before really being able to get into trading. Some of these are valid; some are not so much.

This article will be covering the traits that are most likely to make you successful. Of course, there is also no guarantee that these traits will help you when trading, but they increase the likelihood of it happening.

If you possess these traits and you’re ready to get going, check here for information straight from the pros.

Key points about trading

Before we get into personality traits, though, some key points about trading need to be made. The most important thing to know is that in order to be a successful day trader, you must have an edge over the market. It means that your method must beat the market on average by winning trades more than it loses them.

It may appear to be easy, but in reality, it isn’t simple to describe. Many traders win more than they lose but still lose money. Knowing what your edge is and how to define it is one of the most important aspects of defining your success as a trader.

Ability to manage risk

That brings us to risk management. Just because you have an edge does not mean that you will make money. You need to manage risk by using the proper tools and finding ways to minimize your loss on bad trades. It is not enough to win more than you lose; you must also find a way to keep your profits and minimize your losses.

Patience

Another important trait that many traders lack is patience. Instead, they want instant gratification, leading them to make decisions that they don’t base on sound logic. The markets will not care whether you want an outcome and will do what it wants regardless of your feelings. If you expect the market to wait for you, you need to check yourself into a mental hospital because that is not how the markets work.

Willing to lose from losses

Be willing to lose. Many traders think that they are above this idea, but you need to do it to be successful. If you are not savvy about playing the game, the market will take your money, so be prepared for this possibility.

Check yourself

Irrelevant of how many articles you’ve read or how much experience you have with trading, doing it successfully is a skill that you will have to develop. Many talented people do not have the skills necessary to succeed as a trader. You need to check yourself and determine what kind of trader you want to be. There is no correct answer here, whether technical or fundamental analysis, only what works best for you. Being a trader is as much about your skills as how you interact with the market. Are you prepared for the competition?

Finally, you need to check yourself from time to time for being too emotional in your trading decisions. If you are not approaching the markets from a logical standpoint, you will not succeed. It is hard not to let your emotions take control, but if you want to be a successful trader, you must pass this is the first check.

In conclusion

These are just some traits that you need to check on yourself to improve your odds of becoming a successful day trader. Keep these things in mind as you learn more about trading, and see you again soon for more updates and check out our other trading articles.

Trading is a challenging process that requires you to check yourself before becoming successful. Many aspects of the market work against you as an individual investor, but if there were any easy way to become wealthy, everyone would be doing it.

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Business

4 Ways To Make Your Shop Stand Out This Christmas

The festive season is nearly upon us and the high street is already showing signs of preparedness. For retailers across the country, this is set to be the busiest time of year as customers not only visit stores for the first time, searching for gifts and seasonal extras, but also increase their typical monthly spend.

A higher footfall, however, does not always necessarily translate into sales. Stores must work hard to both deliver an exceptional customer experience and to outshine their competition. If they fail to do this, sales may potentially be lost and, perhaps worse, the brand shortfall may lead to negative advertising and word-of-mouth. This is why stores must ensure that their business is prepared to stand out this Christmas.

Manage The Traffic

Shop design is under continued scrutiny, as is the science and psychology of customer experience. Throughout many decades of study, the discomfort of customer closeness, also known as the brushing effect, that is experienced when customers are in such close proximity that they come into physical contact, is understood to be a major deterrent, causing shoppers to not only stop browsing but even leave the store.

With the extra footfall that the festive season brings, it is crucial that stores reflect on their design and shop shelving arrangements to ensure that customers are given the extra space that they need to comfortably browse.

Consider Your Staff

Your store’s management during a busy time, as well as the main point of contact with customers, is a responsibility that falls directly upon employees. It is imperative that they receive a review of their training, as well as a seasonal briefing, before the shopfront becomes too busy.

As well as ensuring staff are familiar with seasonal logistics, it is also important to consider their mental health too. The extra customer demand can place a strain upon employees, which should be understood and remedied both for duty of care obligations and in the interest of maintaining an exceptional level of customer service.

Decorate With Taste

The busyness of Christmas shopping also places stress upon customers, a stress that can be exacerbated by loud Christmas songs and an abundance of flashing lights. While many stores are excited to bring Christmas cheer to their customers, they would also do well to remember that they are not an isolated business. Customers who have spent their day shopping will have experienced much of the same seasonal aesthetic volume across the high street.

To better stand out among the high street, spend time considering your festival shop design and cater to the potential fatigue of customers. Sometimes it is a calm respite that makes a greater impression than a bold display.

Host An Event

While many stores will be setting up their trees and lights, it can be a high street show-stopper to deliver a festive event to your customers. These experiential activities can be an amazing way to bring new customers into your store, allow shoppers to experience your products, and create a buzz around your brand.

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Business

How To Best Support Your Employees’ Mental Health

After a challenging year for employees, many of whom have had to navigate new remote working situations while simultaneously managing drastic changes in their personal lives, mental health issues are beginning to become more prevalent within the workplace. Even welcoming employees back into the workplace, reversing newly adopted practices, can be challenging, especially as fears of personal health persist. As an employer, there is an expectation for duty of care, one that must now adapt to these modern expectations.

Employers, however, are undergoing much of the same learning process. Those wanting to ensure operations are undisrupted and that staff are able to feel comfortable and productive in the workplace must cater for their business, developing new protocol and policy for office wellness. While this may manifest itself differently within each company, there are certain modern practices that should be considered by all modern employers.

Create A Culture Of Non-Judgement

Unfortunately, there has been a pervasive stigma surrounding mental health issues within the workplace. One in five employees has claimed that they feel unable to talk to their managers about issues of stress and others claim to disguise their mental health issues with physical ailments, unsure they would otherwise be taken as seriously.

Companies should strive to eliminate this stigma and encourage employees to be open about their mental health. This cannot solely be done through a statement and is, instead, best achieved through action. Create safe spaces, offer non-judgemental ‘mental health’ days, and give employees the platform they need to address their wellbeing.

Meet Fundamental Needs

For an employee, there are certain departments that are crucial to their wellbeing. Departments such as human resources and payroll services must ensure that they operate with transparency and high standards or else risk the alienation and frustration of employees. Payroll mistakes, for example, consistently rank among the most notable sources of stress for employees, with unsatisfactory salaries being a key motivator to leave a company.

HR departments must now undergo new training to ensure that they are able to meet the modern needs of their employees. Remote and mixed working environments place new stress upon employees and previous methods of checking up on their wellbeing are no longer readily available. Be sure that your HR team are aware of how to best cater to their team’s needs.

Offer Workplace Counselling

One of the most effective ways to ensure employees’ mental health needs are met is with workplace counselling. This service enables each employee the ability to seek external or in-house counselling sessions, creating a non-judgemental environment with a professionally trained counsellor where issues can be both discussed and, hopefully, resolved.

These services come at a cost to the company but have been demonstrated to have an immense impact on employee retention, wellbeing, and even productivity. They demonstrate that a business is willing to go to great lengths to ensure that its employees are cared for. Sessions, even if only occurring once a month, can curb absenteeism as workplace mental health issues are caught early or eliminated.

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Business

Ways to increase labor productivity

Increasing labor productivity is one of the most pressing problems in business today. According to various studies, enterprises are catastrophically lagging behind European, Japanese and American companies in this indicator. What tools and technologies are there to increase productivity?

Ways to increase labor productivity can be roughly divided into economic and managerial. Economic tools are aimed at modernizing production, optimizing production processes, reducing labor costs (working time) for the manufacture of a unit of production and (or) the release of an additional amount of manufactured products per unit of time, etc.

Management tools are aimed primarily at increasing employee engagement, focusing employees on effective and efficient work. One of the most significant factors influencing the increase in the level of employee engagement is an efficiently functioning remuneration system.

This is what will be discussed.

Who needs stability

Consider a motivation model, which consists of two main groups of factors – those working to retain employees and affecting their involvement in the work process.

The first include comfortable working conditions (light, water, clean room, etc.), workplace safety (this is especially important at the production site), the amount of wages, etc. These factors provide employees with a sense of stability and security.

Such factors as the possibility of professional and career growth, acquisition of new knowledge and skills, gaining recognition, etc., work for involvement. They create drive, striving for a better result and increase efficiency.

These groups of factors affect employees of all levels to varying degrees. As a rule, we first of all expect motivation from specialists and managers to achieve. In rank-and-file positions, staff tend to be more stable, which is, in fact, the key to their comfortable existence at work.

The emphasis on the factors that create stability increases employee confidence in the future and reduces staff turnover. In a company with such working conditions, people stay to work for many years, in such organizations there are no problems with the transfer of knowledge from experienced specialists. In principle, workers are not characterized by an orientation towards frequent changes; they are ready to work at the enterprise for many years if they are confident in the employer and feel secure.

… ordinary staff gravitate towards stability, which is the key to their comfort at work. The emphasis on stability increases employee confidence in the future and reduces turnover …

Let’s look at an example from practice. The management of the manufacturing company decided to introduce a new system of employee motivation. The new model involved establishing a link between remuneration and employee performance, resulting in increased workload. As a result, workers gave up the opportunity to influence the size of their wages and left for obviously less money in other companies.

This organization was faced with the fact that, having tried to solve the problem of increasing efficiency, it did not approach this issue well thought out enough and failed. The management of this enterprise, by its actions, jeopardized the feeling of stability among employees, increased staff turnover, which put the company in a situation of personnel shortage.

Fight against absenteeism

Thus, the following question arises: how, in a situation of general orientation towards increasing labor productivity, influence the motivation of working personnel, increase the efficiency of the organization and at the same time retain employees?

The solution may be to build an effective employee attendance software that preserves a sense of stability for employees, on the one hand, and encourages them to work more intensively, on the other.

Let’s look at an example from practice. The client turned to us to find the most effective and fastest solutions in the field of increasing labor productivity. The company is part of a global structure that is represented in various countries of the world from America to Asia.

Workers in the division of this organization make up almost 90% of the total number. The motivation system for the production personnel of the company was as follows: employees received a fixed part of the payment (salary) and a variable part (bonus). The bonus was paid if the change reached a record, that is, the maximum labor productivity based on the results of the shift.

After entering the market, the company faced the following problems: the lowest labor productivity in comparison with other countries of Eastern Europe, high staff turnover and high absenteeism. Absenteeism in this case is any absence of an employee from the workplace, except for annual leave.

The company has conducted a thorough analysis of the performance of workers in different countries. The study showed that labor productivity is 30% lower compared to similar industries in the EU. At the same time, the enterprises were identical in their structure, and the equipment was absolutely identical. In other words, the working conditions were the same, but production has never been able to reach the level of labor productivity of European companies.

In addition, employees often simply did not go to work if they had the opportunity to receive additional earnings “on the side” (especially in the spring and summer period). In order to prevent the risks associated with high absenteeism, the company had to keep a certain amount of reserve in the shift, which could cover the lack of personnel.

However, even if there was a reserve, situations could arise when the labor force was not enough to ensure the continuity of production. Or, those who got up to replace were less trained and slowed down to ensure the continuity of production. Or, those who got up to replace were less trained and slowed down the production process. In addition, the maintenance of an employee absenteeism provision was an additional expense for the company.

Salary motivating function

The management of the company faced the following questions. How can you explain the current situation and how can it be changed? How to increase the interest of employees in the work performed, to create their intention to do more in the same time? How to reduce staff turnover and absenteeism at the same time?

We were invited to implement a project to identify ways to improve efficiency.

We relied on the fact that the organization of production in the company was effective, as it demonstrated its success in other countries. Therefore, when formulating hypotheses about the causes of low labor productivity, we focused on the activities of personnel.

It was suggested that increasing employee motivation, their greater involvement in work and a focus on results will increase labor productivity and achieve European indicators.

To maintain the stability of the staff, it is necessary that the salary is in line with the market, the accrual system is fair, and the payments are regular.

Comparison of workers’ remuneration (constant and variable parts) with the market showed that, in general, the level of remuneration is at an average level, that is, it is adequate for such positions. Payments were made regularly, there were no delays in payments in the company. When we interviewed employees, we received data that they consider the amount of remuneration to be fair.

Next, we evaluated the motivating function of the remuneration system. It was important for us to understand how it encourages people to work better. The following problem areas were identified:

  • low transparency. The workers did not know that in the company, in principle, there was a system of bonuses for labor productivity, since under the existing system of remuneration for a record, some employees did not receive a bonus even once for a year of work;
  • lack of opportunity to influence the size of employees’ income. The organization did not have a system of rewards (other than a bonus for a record), which made it impossible to reward effective employees;
  • disproportionate bonus. The amount of bonuses actually received by personnel over the past six months was incomparably less than the fixed part (about 3%). Thus, the bonus did not motivate workers to increase productivity.

Transformation simulation

At the stage of modeling the solution, it became clear that the transformation of the existing remuneration system would create a stable motivational model in the company and help improve the efficiency of employees.

For an incentive scheme to be effective, it needs to be improved on the following criteria:

  • transparency – employees should be aware of what constitutes their income;
  • the ability to influence the size of their income – employees’ understanding of the dependence of their income on the invested efforts;
  • proportionality – the amount of variable remuneration should be motivating, too low a percentage of remuneration for high employee performance can have the opposite, demotivating effect and discredit the entire remuneration system.

If the payment system in the company is built transparently for employees and is aimed at work results, it will serve as a powerful motivational driver.

From this example, it is clear that with the existing problem in the company with low efficiency of personnel and high stability provided by working conditions, the introduced remuneration system should:

  • motivate employees to achieve greater results;
  • maintain a sense of stability among the working staff, especially at the stage of implementation of the new system

This will allow, on the one hand, to avoid a surge in turnover and dissatisfaction with changes on the part of workers, on the other hand, to achieve the set goal: to increase labor productivity.

New incentive system

Our proposed solution looked like this. The new system of monetary incentives was supposed to consist of a fixed and a variable part. The company decided to make a salary increase in January of each year.

Based on the data of salary surveys, we proposed not to change the fixed parts of the salary and to put the remaining sums into the bonus fund. The latter was proposed to be formed on the basis of the parameters presented in the table.

Table. Bonus fund formation parameters

Base Name Description
To accrue a
bonus
Labor productivity The actual percentage of the plan for the month for the entire production
To change the
bonus
Absenteeism Any absence from work other than annual leave
Product quality Defects percentage of the total number of manufactured products

At the same time, it was proposed to calculate the size of the bonus based on the assessment of the immediate supervisor. A scale was developed on the basis of which the manager could assign a certain point to a subordinate. To ensure the effectiveness of the system at the initial stage of implementation, the assessments were given to employees by a group of managers, which included the shift supervisor (foreman) and the head of the shop.

Thus, the system made it possible for managers to influence employees, reward effective employees and reward less effective employees.

The main advantages of this system:

  • transparency of requirements for employees – the assessment criteria were communicated to the workers;
  • proportionality – the bonus fund has been increased due to annual increases;
  • the ability to influence. We have ensured the clarity of the criterion of the desired result, replacing the basis for the payment of the bonus from an elusive “record” to the criterion, understandable for the workers, “fulfillment of the production plan for a month.”

In addition, we did not tie the remuneration system to the results of individual workshops, thereby preserving the principle of shared responsibility for the result.

As a result, following the introduction of a new system of motivation, labor productivity of workers increased, which brought production closer to European indicators. In addition, overall satisfaction with the company’s working conditions increased.

Risky change

Any significant change in the company carries risks. The introduction of a new reward system is one of the most painful and risky changes.

Management needs to pay increased attention to the implementation process, constantly monitor the stages of the project, monitor the situation in the team. In addition, you need to track the feedback and make timely adjustments if necessary.

When implementing, it is necessary to provide for the following main risks.

Low involvement of managers, lack of support for changes on their part. Since top managers are the “agents of change” within the company, their support is extremely important for any innovations. The involvement and support of leaders will help to ensure that they are included in the project at the stage of developing a new system. This will create a sense of ownership of the final product among managers and ensure their loyalty during implementation.

Lack of internal communication. In order for the remuneration system to start working effectively, it is necessary to convey the new “rules of the game” to the entire team in as much detail as possible. It is important to remember that in the process of communication, any information changes its appearance and is distorted. Therefore, it is very important not only to inform employees, but also to take time to work with their fears, objections, and resistance to new things.

To achieve the desired result, it is necessary to use formal and informal communication channels. The first are team meetings, mailing lists, information boards, and an internal website. The second – corporate events, competitions, joint recreation, etc.

Increasing labor productivity is not an easy task. Domestic companies have a long way to go from modernizing production and introducing effective corporate governance systems to changing the mentality of the workers themselves.

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Business

5 scenarios where a personal loan can be a saviour in 2021

Times have been challenging, especially financially. Don’t be harsh on yourself if you find yourself incapable of managing your finances adequately. You can never predict the future – for all you know, a mishap comes knocking at your door out of nowhere. They say that it is a good idea to plan your future and accordingly plan your finances. But how often do you think our plans actually materialize? Can you be ready and prepared for all that life has in store to throw at you? No. Therefore, you shouldn’t shy away from opting for a personal loan when it is necessary.

When can a personal loan be your rescue?

Personal loans are important. They can provide immediate funding and liquidity and thus make your life easier. You can get a personal loan at interest rates starting at 10.99%. They are easy to avail of and collateral-free. What’s more, a loan up to Rs. 25,00,000 can be availed of online with minimum documentation requirements.

Here are 5 scenarios where a personal loan could be your saviour in 2021.

1.     Festive shopping

Festivals are a huge deal in India, and we believe in staying close to our relatives to celebrate together. Diwali, which is just around the corner, is a time of pride, love and victory. Opt for a personal loan to meet your pooja, decoration, and gift expenses. You can buy traditional clothes and light up the moment, but only expose yourself to the amount you are confident of repaying on time. Greed and overexposure are wrong – they could lead to your absolute ruin. Hence, plan your finances well and take a well-thought decision.

2.     Education

Education is the most crucial asset that an individual can possess – there is no second thought about it. If your children are ambitious and want to study abroad, your financial issues should not get in the way of their dreams. Foreign education is extremely costly, and it can give you nightmares if you don’t have a rescue plan. A personal loan could be your saviour, giving you the current financial freedom that you need to fund the expenses. An education loan will not always provide all the coverage that you need. Compare plans and interest rates adequately.

3.     Medical emergencies

A personal loan is a clever way to shield you from a debt trap during medical emergencies. Health insurance should be able to provide immediate relief as well. However, insurance will not cover 100% of the expenses, and there may be times when your claim does not get accepted. In such times, you should immediately check for your personal loan eligibility and apply for a personal loan online. An unsecured loan gets approved within hours, and the money transfer also happens online.

4.     Repayment of credit card liabilities

When you find yourself in a debt trap, it becomes difficult to escape. Credit card interest rates are as high as 30%, and your credit score gets impacted after every default. To avoid negative ratings, you can opt for a personal loan available at lower interest rates to repay the credit card liabilities. Make use of your lender’s personal loan EMI calculator to stay updated about your commitments.

5.     Miscellaneous

You might need immediate cash to travel abroad with your loved ones and spend quality time on vacation, get your home redecorated, or fund a grand wedding. Make sure you have a budget set for all these expenses, and you can repay the loan you take.

Final takeaways

A personal loan is your superhero, and how wisely you use it is up to you. Make smart choices with a personal loan and open up opportunities for yourself.

Personal loans can be very helpful in case of medical, financial, educational, or business emergencies or in case of approaching festivities. You must not shy away from opting for such a loan. Check your eligibility and personal loan interest rates here.

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Business

Why invest in promotional drinkware?

Drinkware is surely the best way of promoting your brands. These can surely boost the awareness of your brand by having your brand name or message or you can even give them as a gift to your clients. Since bottles, glasses, and other such drinkware are the most used items both in homes, offices, sports events, etc. your promotional strategy will never go wrong if you choose this as an advertising medium. Visit https://www.amphasisdesign.com/products/promotional-drinkwares to get drinkwares products..

Promote your brand to your clients and guests

What is the first thing you offer to someone when they visit your home or office, water? Simply print the taglines, messages, and brand names on the bottles and glasses and they will never go unnoticed. Just the next step, the second thing you offer is tea or coffee to them, give it in the mugs with your logo or tagline. That can be the best way to promote your product and with that, it is cost-effective also.

They are cost-effective

When you are investing in other advertising mediums that will only do your promotions you can’t use them for anything else. But the drinkware is something which can be regularly used in the office canteen, hostel mess, restaurants, and even at home. You can give them as gifts to employees at festivals. This way it works as both ones are promotion and second for whichever need you want to use them.

They spread your message

Not only do brands need to promote their name but sometimes organizations like NGOs, government bodies, local communities, and other such groups also want to spread an idea to a larger section. For them also it is a great way to spread their message. What they can simply do is print their message or graphics conveying the message on mugs and glasses and distribute them. The more people will use them the more their thoughts will spread.

They help in building client relations

As mentioned, drinkware is the most used thing in homes. You will notice that more and more customers will remain loyal to your brand when they receive such gifts which are useful to them. Also, if you don’t want to spend on printing the names on the items just market them as a free gift with your products and you will notice that many more customers have started purchasing your products.

Better reach to consumers

You can deliver your advertisement directly to your customer’s hands. When you invest in hoardings and give sponsorships to events you get your brand name reflected on roadsides or in stadiums. But when you print your brand name on mugs or water bottles you are giving your advertisement in their hands. And that will hardly go unnoticed.

Conclusion

Advertising does not always mean placing big posters and ads on roads or booking a slot on television, sometimes it simply means reaching your customer as effectively as you can. And for that drinkware is the best way as it is used everywhere in homes, offices, hostels, restaurants, etc.

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