Companies Rely On A Digitization Strategy

The need for a digitization strategy has now arrived, especially in larger companies with 1,000 or more employees. But the smaller companies are also gradually following suit. 79 percent of those surveyed stated they had a holistic strategy for their digitization projects. More than half of the companies have also developed a concept for smart business communication.

Trends And Developments

Use of a colorful mix of communication channels

Telephony, e-mail, chat, and social networks – the communication channels are constantly evolving, just like the variety of end devices that are used: whether it’s a standard telephone, PC, tablet, laptop, or smartphone. As digitization progresses, companies must also adapt to the habits of their customers.

Better networking

The demands of employees in their workplace have also increased. More and more employees want to work from their home office or on the road during a business trip. These flexible working models require appropriate intelligent communication solutions. Companies are responding accordingly: 22 percent of those surveyed stated that they wanted to offer their employees a modern workplace with the help of technical solutions.

More frequent use of cloud solutions

The use of on-premise solutions has declined sharply in recent years. Companies are increasingly thinking about on-demand solutions. For example, the cloud telephone system is gradually replacing conventional telecommunications. No wonder, as it offers many advantages:

• The advantages at a glance:
• Flexibility (e.g., for seasonal business)
• Maximum scalability
• location independence
• Easier networking of different locations and external workstations
• cost-cutting
• Greater reliability through operation in redundant data centers
• Integration into business applications such as CRM or ERP
• Virtual conference rooms with desktop and file sharing
• Future security through continuous updates from the providers
• Integration into mobile devices (smartphones, tablets, laptops)
• Unlimited choice of end devices
• Easier administration
• CTI integration
• No more maintenance

Improving customer service

To ensure customer satisfaction and loyalty in the future, it is important to be available via various communication channels. Modern communication solutions can help you to offer your customers a better service. With the integration of UCC solutions in CRM solutions (e.g., Salesforce), customer communication can be significantly improved with little effort. This way, employees can be relieved of time-consuming routine activities, and the callers can be assigned optimally.

Conclusion

Professional life has changed enormously in recent decades and is increasingly determined by networked work. Working from home is becoming increasingly important for employees because it enables a better work-life balance. Many companies have recognized the need to accommodate their employees regarding modern workplace and home office options and plan to modernize their workplaces.

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SMEs, VSEs or Large Companies?

From sole proprietors to large enterprises, businesses of all sizes can use outsourcing your IT infrastructure to help their business grow and expand while keeping expenses as low as possible.
It is essential to understand that outsourcing and managed services have their place. Ultimately, your internal requirements and skills will dictate which is the best option for you concerning certain activities, depending on your business type.
The managed option is often the way to go when it comes to IT service providers. This is especially true if you run a small business, where you may not have the in-house skills or resources to manage your IT infrastructure effectively, continuously monitor your network operations center, plan for disaster scenarios, and raise awareness about cybersecurity.
Small and medium-sized businesses outsource more for technical processes that require specific skills.

The Impact of Outsourcing on Your Company

Technology is the lifeline of every organization, driving efficiency and vital housing data. Because of this, it deserves the highest quality maintenance. However, as technology becomes more complex and the demands on IT teams grow, it becomes impossible to support your network sufficiently internally.
Managed services provide organizations with expert support for their IT infrastructures, with constant solution monitoring for proactive support. With their software solution in the capable hands of a managed service provider, organizations can focus on what they do best.

What Are The Main Advantages of Outsourcing?

Increased focus on core business activities: Outsourcing can free up your business to focus on its strengths, allowing your staff to focus on their core tasks and future strategy.

Increased efficiency: Choosing an IT service provider specializing in the process or service you want them to perform for you can help you achieve more effective and efficient service, often of better quality.

Proactive monitoring: When your IT team has so many pressing issues dividing their time, sometimes the issues get ignored, and the solution becomes reactive. But a computer emergency like a security breach can cost your business millions and damage your brand reputation. So don’t wait for something to break. A managed services team can devote full attention to your solution, enabling proactive monitoring rather than reactive patching. This way, you can anticipate problems before they spiral out of control and become severe. Managed services offer on-demand support with fast response times, so your issues can be resolved with minimal wait time.

Controlled costs: Savings from IT outsourcing can help you free up capital to invest in other areas of your business. Managed services offer a fixed, predictable cost for IT maintenance activities while giving you access to premium tools without the cost of ownership.

Who To Call On For Outsourcing?

A managed provider can offer services to improve your efficiency and reduce the likelihood of problems but can also offer proven solutions in case the worst happens. In addition, it allows problems to be fixed quickly and securely.

Also Read: IT Security – Fit For Managed Security Services In 6 Steps

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Occupancy monitoring can help you identify how well the space in your workplace is being managed. It may also allow you to collect some real-time data about every specific space. This may mainly consist of how long the space is occupied and who makes use of it. You can collect this information in various ways, and automated occupancy monitoring can be one wise way to make this happen. As such, there is the precision of data and ease in the process of this form of data collection. So, you do not have to do much.

Here are the top 6 ways you can choose to capture room and desk occupancy data in the office for efficient workplace management. 

1. Physical Occupancy Monitoring

If your office space is not very large, you can easily conduct the occupancy monitoring yourself. If that is not possible, you could hire someone to carry this task out for you regularly and provide precise data in need. In fact, as a new firm or a small office, you might not even have sufficient sources and funds to invest in space optimization. 

Also, there is no necessity to have a law or audit firm for this purpose in such initial stages of the business. That is why when opting for this method, businesses generally opt for a low-cost method of occupancy monitoring. This is done by delegating this work to the receptionist, who is already responsible for keeping the occupancy information of all employees and the time when they leave their work desks daily. 

Although this is an easy process, it is also quite cumbersome in many ways. For starters, there is a high risk of inaccuracy as the receptionist cannot leave her desk regularly to cross-check if the occupancy data that has been entered and the time stamp put are correct. Delays in the timing and errors may be inevitable here. That is why this is generally considered a last resort by most reputed firms who are serious about the process of room and desk occupancy data. 

2. Smart Locks Occupancy Monitoring

Smart locks foster real-time intelligence when conducting occupancy monitoring. When installed on certain doors, they can help provide enough information on alarms, door access records, and even access rights. Employers can use such information to understand the occupancy of that specific room where the smart lock is used. 

The best part is that these smart locks may also allow you to have control over this type of monitoring. However, the only drawback is that they can be fairly expensive to purchase. As such, companies may have to drain sufficient funds into purchasing such smart locks. Apart from this, these smart locks may not be applicable on all types of doors. This again restricts how far they can be useful in occupancy monitoring for your company. 

Some companies suggest using EM locks in place of smart locks. While EM locks can also help with effective occupancy monitoring, they may also come with a set of drawbacks. Since these locks are accessed via electrical technology, it can be tough to extract data from them. 

3. Desk & Room Booking Software Occupancy Monitoring

So far, this type of occupancy monitoring is the most useful, effective, and stringent. This type of solution allows users to check out the office spaces in a defined manner. The system can conduct its function by enforcing stringent check-in and check-out policies on space users and also delivering reminders to them on how they should utilize their space efficiently. In many cases, this monitor may also help them be compelled to act upon their reservations and properly utilize the space. With this, the process of tracking occupancy can be simple in your workplace. So, that needs to be kept in mind.

4. Spot Check Occupancy Monitoring

One of the oldest and most used ways to conduct occupancy monitoring would be a spot check. However, it is not the best way to do the task and collect data on space usage as high amounts of inaccuracy and errors may back it. Here, the receptionist runs their eyes through the spaces that are occupied and keeps records accordingly. Generally, companies that are not very stringent about their occupancy monitoring try to go with this solution for the sake of it.

5. Digital Hardware Device Occupancy Monitoring

These tools are either installed in the meeting rooms or outside work desks. They are simple, portable, lightweight, and hardly disturbing. However, they can conduct real-time information and be credible occupancy monitors. They are also equipped to collect high amounts of data information that are precise and useful. 

So, if the user is near their workspace, they can easily interact with this device, which can help it collect the occupancy information. Unlike other software, here, the process is very straightforward and difficult to game. The only downside of this monitor is that it can be expensive sometimes for a few companies to purchase and install.

6. Sensors Occupancy Monitoring

This is the most non-intrusive form of collecting data among all other occupancy monitoring systems one can have in a smart office. These sensors can be smart and efficient in detecting the presence of employees near them. So, they can be used for both room and desk occupancy in the office. With these sensors, it becomes easier to analyze, collect, aggregate, and report on the office occupancy information. 

These are some of the most useful ways to capture room and desk occupancy data in the office. Make sure you pick one that is most suited to your business. It is bound to help you. 

Also Read: Workplace – Home Office

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But, just as the customer experience is a clear objective of organizations, we must not lose sight of the knowledge of the employees (EX). In the current context where, in one way or another, organizations are addressing transformation processes, we must be aware of the role that people play as a lever for said transformation and that they are the ones who can lead it to success and settle it, make it sustainable and evolve it.

These times, our mouths are filled with concepts such as collaboration, the culture of continuous improvement, and agility… all this would be impossible without keeping in mind and working focused on enhancing the employee experience.

They are the people who can make an organization truly agile, collaborative and focused on continuous improvement. But for this, you have to empower the teams, take care of their feedback and achieve the employees‘ commitment.

We present some of the techniques that can help us to know the experience of our employees to improve it:

Skill Matrix: a technique used to find out a team’s capacity in skills and knowledge. It is not just about detecting the gaps in knowledge or skills of the teams, but rather using it as a source to find out what the employees want to learn. We seek a balance between our group’s interests and the organization’s objectives.

Moving motivators technique that will allow knowing the motivations of people. With this dynamic, we will discover what drives our employees when making decisions and what moves them to behave in a certain way, two key points of the employee’s experience in their day-to-day life in the organization.

Reskilling in this method, two very important elements converge, the need to recycle the knowledge and skills that come with moments of transformation and the opportunities for evolution and professional growth for employees. Combining the organization’s needs to follow the path marked out at a strategic level with the interests and desires of each of our collaborators is vital to ensure employee experience in the medium/long term that we are looking for.

There are a lot of talks these days about retaining talent; Using these techniques will allow managing the motivations, interests and, ultimately, the “engagement” of the people in the organization. With continuous training and the improvement of their day-to-day activities, employees perceive that the organization is investing in them. This improves their professional profile and directly impacts the organization’s reputation.

Also Read: Four Types Of Employees In Every Office

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Today, skilled workers benefit from a labor market that offers employees excellent opportunities through globalization and digitization. Anyone looking for a new job today is indeed spoiled for choice in many sectors and can hardly save himself from offers. The decisive factor for you is how you present yourself with your corporate management and corporate culture. When looking for employees, two elements always count:

• What channel are you looking for?
• How does your company appear to potential applicants?

For example, if you have a sustainable concept with appropriate benefits for your future staff, you will generate a positive image for your startup on the Internet. Because your signal that your team is essential to you within the framework of your corporate culture. This, in turn, helps you find employees and retain them in the long term. The following criteria made it onto the list of successes from the employee’s point of view:

• Empathetic corporate identity
• Gute Work-Life-Balance
• Communication between employer and staff
• Pleasant manners within the company

If you already meet the criteria for success when dealing with the existing staff, your positive reputation will also help you in the active search for personnel.

JOB PROFILE IS A MATTER OF THE BOSS

The fact is that finding new employees will not work without proper planning. This includes creating a targeted employee profile. Because first of all, you have to recognize for yourself what job you are looking for employees for and what tasks future employees have to fulfill. So first, you need:

• A requirement profile for the applicant
• An accurate job description

Only when you have done this “homework” can you make further considerations and determine which distribution channels you would like to use.

ONLINE OR OFFLINE: SEARCH AND FIND EMPLOYEES

Searching for or finding suitable personnel is always associated with a great deal of effort. It’s costly as well as time-consuming. Therefore, think about where your target audience of potential candidates can be found and how you want to contact them. The more goal-oriented you act, the more successful your personnel search will be. So don’t wait for someone to approach you and your business. Search actively and present yourself as an innovative and exciting company.

Incidentally, every month in which the vacant position remains unfilled is at the expense of productivity in the company. The best way to keep the effort involved in finding personnel to a minimum is to act efficiently. Here are possible personnel recruiting methods – completely analogue or following the digital trend:

The Company Website: Success With The Classic

Use your company website! It is an absolute must when it comes to personnel recruiting. With their help, potential applicants find out about your company and automatically check your job offers. It is best to link your career page directly on the start page. It is not possible to say how many interested parties you will reach in this way. The job pages of established large companies and corporations are very well frequented. Smaller or less well-known companies are likely to attract less attention with their website. Nevertheless, it is expedient to introduce your own careers page with job offers to find new employees. This is how you present yourself as a modern company and do something for your image.

Good Old Word of Mouth

Start word of mouth with the help of existing employees – either analogue or digital on the Internet. Especially as a newly founded startup, this is a promising way to build up staff. Contact points can also be friends, acquaintances, family or suppliers. Maybe you have already had a flier printed for your company, and then this is the right opportunity to distribute it right away. If that doesn’t work, you’re left with the option of launching a recruiting campaign. Because your employees may know a perfect candidate for the vacancy in your company, it works pretty simply: With an employee referral program, you motivate your employees to find the right applicant. In this way, you integrate your staff into the personnel recruiting process and even relieve yourself.

Use Internal Company Resources.

First of all, advertise your position internally in your company. Perhaps one of your long-time employees is looking to make a change and grow professionally. This is often a cost-effective solution because you can prepare them for the new position through further training. The advantage is that an internal candidate can already find their way around your startup, and no onboarding process is necessary.

Activate Your Network

If your family or acquaintances could not help you recruit employees, post your job offer on your social media channels. Ask your contacts to share this job profile. Nothing works better than a personal recommendation.

Benefits From Facebook and Co

Personnel recruiting using social networks such as Xing, LinkedIn and Facebook is up-to-date and promising. Modern social media recruiting on the Internet is very easy: Place job advertisements for the channels of your choice and enjoy the advantage of being in direct contact with potential applicants. This allows you to respond quickly and efficiently to their questions about the job profile and the associated requirements.

Post ads on Online Job Boards

Another excellent and easy way is job boards. In addition to your in-house careers page, online exchanges are another promising source for finding new employees. On the one hand, your advertisement may hardly be noticeable in the flood of job offers, but numerous job seekers use job exchanges like Monster.de to find their way around. Compare the conditions of various job exchange operators and record their efficiency in a small statistic. In this way, you will be able to optimize your personnel marketing simultaneously.

Post Ads on Online Job Boards

Another excellent and easy way is job boards. In addition to your in-house careers page, online exchanges are another promising source for finding new employees. On the one hand, your advertisement may hardly be noticeable in the flood of job offers, but numerous job seekers use job exchanges like Monster.de to find their way around. Compare the conditions of various job exchange operators and record their efficiency in a small statistic. In this way, you will be able to optimize your personnel marketing simultaneously.

Consider Outsourcing

It may also be too time-consuming for you to look for staff yourself. In this case, you can try the so-called outsourcing and leave it to an external service provider to find suitable employees. You have to distinguish:

Headhunters and HR consultants

They are specialized in the search for highly qualified managers and specialists.

Recruiter

They work in your HR department and are responsible for recruiting, i.e. finding staff or optimizing the HR marketing of your startup.

temporary employment

Third parties, e.g. temporary work companies or agencies, temporarily provide you with employees (temporary workers) under certain conditions.

Direct intermediaries

These are recruiters who suggest suitable applicants to you as an entrepreneur.

Attend Trade Shows and Campus Events

Be present as a founder at industry-specific trade fairs and conferences. Make contact with organizers of events for universities and schools. This gives you an easy chance to discover young talent and convince them of you and your employer’s brand. It is best to present yourself with small giveaways that your target group will like. This will give you a likeable image as an employer and gain your reputation. In this way, it is often possible to find potential employees and hire them directly after training.

Get Support From The Employment Agency.

Numerous entrepreneurs across all industries use the cooperation with the employment agency to find employees and personnel. You have two options for working with the Employment Agency:

You can report your job offer or profile via the job exchange of the employment office.

Alternatively, you can get in touch with a personal contact person.

The employment agency’s free employer service supports you in building up staff and answers your questions about funding and personnel development.

CONCLUSION

There are countless opinions and tips on how to find good employees. The classics still count, like advertising. Social media recruitment also offers excellent potential. It is promising if you work on your “brand” as an employer, take personnel marketing seriously and offer online application processes for potential candidates. This is how you present yourself as a modern company and stand out from the crowd of other companies.

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While it is true that this is a problem at all levels of the organization, it is even more so when it comes to managerial positions, since they are the ones who, on a day-to-day basis, will be in charge of the management and administration of the company. . To solve these deficiencies and difficulties in the hiring processes, outsourcing personnel selection is a safe bet.

What Is The Outsourcing Of The Selection of Executive Personnel And Managers?

The outsourcing of personnel selection involves contracting the entire selection process or part of it to an external company specialized in searching for professionals. This acts as an intermediary between the organization and the candidates, who have been carefully selected thanks to the specialized recruitment infrastructure. The company specialized in human resources itself captures, receives, and screens the different profiles it accesses and then delivers a report to the organization detailing the selected profiles and the additional assessments made in this regard.

In the case of hiring senior positions and managers, having an intermediary specialized in selection processes is extremely important to access the best available profiles. Considering that these types of situations are the ones that define the direction that companies and the teams that comprise them take, resorting to professionals specialized in talent detection who are in contact with numerous candidates is a way of broadening horizons and maximizing opportunities—chances of success.

Keys To Successfully Outsource The Selection of Highly Qualified Personnel

Outsourcing staff selection processes has several advantages that make it the best option when starting a recruitment process:

• A company specialized in human resources will always be better prepared to find and recruit the ideal candidates for the vacancy you have in your company because they dedicate themselves to it day by day. They know where to look, what to ask, what to expect, and the next step. But, in addition to being familiar with the recruitment process, the candidates themselves come to these organizations to look for new job opportunities, so their database is huge.
• The number of contacts available to human resources companies is immense, so the selection processes become shorter. In addition, they can locate and evaluate candidates in record time due to their experience in the sector. For this reason, when you have a management or management vacancy, turning to a company dedicated to personnel selection will help you find the best candidate for the position in a short period so that the daily activity of your business is not affected.
• By outsourcing the recruitment process, you will save costs for your business. On the one hand, because fixed expenses will be reduced; on the other, because a company that is an expert in recruiting talent guarantees that you are going to fill the vacancy you have in a short period and, therefore, you will not have to bear the costs generated by not having jobs for weeks or months at a time. Someone for that position.
• The company’s productivity increases because companies specialized in recruiting candidates can detect talent easily. Having professionals who understand both the needs of your business and the specifications of the job you are looking to fill and who are used to attracting talent will help ensure that the incorporations you make are always aimed at improving the efficiency of your company. This is especially important when recruiting staff for senior positions since a large part of the efficiency and productivity of a company is determined by how management is carried out.

• Employers will save time because they won’t have to process inappropriate applications and spend hours calling applicants and conducting interviews. The time they would lose in this process can be used to carry out other types of activities that are more productive for the business. Thus increasing the efficiency of the human resources department and confident executive and management positions usually present at some stages of the selection process.
• Outsourcing guarantees the confidentiality and total objectivity of the process, avoiding the biases of the client company itself.
• Also Read: Why Outsourcing Is a Good Option For Your Business

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An Equality plan is an ordered set of evaluable measures adopted after carrying out a diagnosis of the situation, aimed at achieving equal treatment and opportunities between women and men in the company and eliminating discrimination based on sex. The equality plans must set the specific equality objectives to be achieved, the strategies and practices to be adopted to achieve them, and the establishment of effective monitoring systems and the method of evaluation of the objectives set.

Which companies are obliged to draw up and implement an Equality Plan, and how long do they have to comply with this obligation?

– Those with 50 or more workers on the workforce, although they have a transitional period for the approval of their Equality Plan.-

– Those bound by the applicable collective agreement.

– Those in which the labor authority had agreed to it in a sanctioning procedure, where the substitution of additional sanctions as specified by the elaboration of an Equality Plan.

What should an Equality Plan contain?

Beforehand, a negotiated diagnosis will be drawn up, where appropriate, with the Legal Representation of Workers (RLT).

Every Equality Plan must refer to at least the following matters: Selection and hiring process, Professional classification, Training, Professional promotion, Working conditions, Co-responsible exercise of the rights of personal, family, and work-life: female underrepresentation, Remuneration, and prevention of sexual and gender-based harassment.

Advantages of implementing an Equality Plan

Productivity improvement. The Equality plans favor a better use of time. They consider that all countries that work the most and produce the least will lead to more extraordinary dedication and productivity.

Reduces absenteeism from work. It reduces stress in the workforce due to more efficient and fair management of human resources, which is based, from the outset, on issues such as reconciling work and family life.

Improves the work environment. With the reduction of differences between male and female colleagues, the work environment improves, shown by the different studies on companies that have implemented these measures in their routine. Labor conflict is reduced.

Rationalize schedules. This type of measure contributes to the more rational use of time and modern and more efficient management of human resources.

It favors the flexibility of the organization. We must bear in mind that policies for reconciling work and family life imply managing human resources with elements of flexibility.

Develop creativity and innovation. With the implementation of equality plans, it is committed to taking advantage of the talent of women in the same way as that of men. Non-discrimination in selection by companies represents a broader and more educated job offer. Therefore, savings are made in selection and training, and talent is retained. As stated in the guide for companies that enjoy the Equality in the Company distinction, the commitment to equal opportunities in recruitment sources generates a double benefit: it favors the image as a company that retains talent and, therefore, is a significant source of attraction.

Better adaptation to the market of the offer of products and services. “The existence of work represents a greater capacity of response on the company’s part to the variation of the markets,” maintains the same study.

Substitution of sanctions for the development of an equality plan. This appears as one of the most practical advantages after a visit by the Labor Inspection that detects that the law on the matter is being breached, for example.

Preference in the award of public administration contracts. This is another advantage that the company’s management can quickly perceive and that has made, for example, that the preparation of equality plans has become an incentive for SMEs, which are not obliged in principle.

The credibility of social responsibility. These companies can transmit an image of excellence to society and, therefore, a competitive advantage. Conclusion and it is that having equality plans can improve the appearance in front of customers and the community.

Also Read: The A-Z of Business Network Security

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It is an increasingly common term in the field of Human Resources. Companies are increasingly concerned with their image to their customers and their workers and the talent they could potentially recruit.

Through employer branding, companies work on their own perceived image in it. Faced with the marketing work involved in the idea for the client, employer branding is a job of the internal communication department and, above all, of the company’s Human Resources manager.

What Is Employer Branding Labour?

Employer branding is the package of functional, economic and psychological benefits provided by the job and identified with the employing company.

Therefore, we can answer the question of employer branding, such as the benefits of working in a company, whether economic or otherwise, such as hours, flexible pay, vacations, work environment, etc.

This concept has been evolving in the last 30 years, and nowadays, it is also called this way the strategies for attracting and retaining talent by companies.

In the 70s, 50 years ago, the first studies on the matter emerged in the US that showed that the image projected by hospitals had a substantial impact on the retention rate of their workers.

Although the benefits of employer branding have been known for half a century, it was not until the last decade of the 20th century that conscious work began on it.

In Spain, however, we have to reach the first decade of the 21st century to find the first companies concerned about this aspect. In the last five years, it seems that the importance of loyalty of human capital is being more taken into account, with the rise of initiatives such as employee maps.

Five Benefits Of Employer Branding

Higher Talent Retention

Without a doubt, the most apparent benefit of having an employer branding strategy is the retention of talent. If employees are happy with the working conditions, they will have no reason to leave it.

One of the fundamental problems in many SMEs and multinationals is their retention rate. Employees go through there, gain experience and go to a company that offers better conditions.

Keep in mind that we are not always talking about salary. There are additional benefits such as flexible hours or benefit programs that do not cost the company money but can be essential for an employee to want to stay.

The flexible remuneration costs some money to the company, but the result is quite positive. The cost for the company is usually around 5% of the total amount, but all personal income tax is saved from the total amount.

If you get employees to be happy, they will speak well of the company, and they will work harder and, ultimately, you will achieve greater productivity.

Brand Ambassadors At No Cost

A happy employee becomes a perfect brand ambassador. He will speak well of society at all times and recommend his services to anyone who asks. Studies show that recommendations from family and friends are more critical than other prescribers such as influencers or traditional advertising.

If someone who works in a company -and is not the owner- tells us that they do an excellent job and have perfect conditions, the image that they are going to have of that company will be pretty positive. In addition, word of mouth does not end with the first contact, but those who know the employee will continue to talk about the company’s advantages.

And it is that even today, benefits programs in a company are still not standard and are usually part of the conversation.

Better Crisis Management

Regardless of its size, any company must face a crisis during the year. A dissatisfied customer, whether or not he is right, or any error when providing our service or selling our product, be it planning, suppliers, etc … can cause a crisis.

However, if the first impression they have had of us is positive, when criticisms of our company arrive, they will not have to transform their previous image. This is what in psychology is called instant evaluation. This instant evaluation goes deep inside us, and if it is optimistic, it will remain when the first criticisms of the business work arrive.

However, if the first information we receive is negative, transforming that image will cost more work. In case of a crisis, it will be impossible to reverse it in time.

Strengthening of Digital Identity

When a company has achieved that image of being in excellent condition, employees and acquaintances identify with the brand and defend it from social media criticism. 

Social channels do not work so much at the sales or business level, but they are essential if concerned about reputation. When someone has a complaint, the first thing they do is post it on Facebook or Twitter. Knowing that there will be people who will defend your point of view is essential if we want to achieve the next issue.

Continuous Recruitment of Candidates

Last but not least, attracting talent is an excellent benefit of working on employer branding. Finding qualified and motivated employees to fill a position can be a big problem for many companies.

However, when employer branding works, finding people who want to join your company, whether or not they are working at the time, is much easier. In fact, in companies that work correctly in this aspect, it is expected that they do not need to publish job offers since enough candidates reach them without the need to advertise positions.

Also Read: Content Marketing on LinkedIn For Branding and Customer Acquisition

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Similar to full-time workers, part-time employees don’t have a statutory right to paid leave for bank holidays. It is imperative to ascertain parity between the two. 

Full-time employees and part-time employees should be treated equally. This implies to paid leaves. If one group gets one, so should the other. 

An employer shouldn’t treat pro-rata workers any less or more favorably than full-time or part-time employees. 

If a staff member has public holidays off as part of their annual leave and falls ill on a bank holiday, they should be allowed to take the annual leave at another time. However, if they have time off in addition to the annual leave, but fall ill, what follows is entirely dependent on the terms of their employment contract. Manage leave effectively with this leave tracker from Tracktime 24.

It is not uncommon for workers to pretend to be sick when they are not entitled to paid leave. So, if you think a staff member is feigning illness, do a formal investigation and if necessary, follow the disciplinary procedure. 

Given the employer does not ultimately prevent a worker from taking their annual leave during the course of the year, it is their responsibility to come up with rules on when the leave can be taken. The employers’ decision to create a shutdown period where a leave must be taken is permissible under the Working Time Regulations. However, a notice of a period twice the length of the intended leave period should be issued. 

According to UK Law, any person on maternity leave is entitled to all the terms and conditions they normally have during the time they are away from work, whether they get paid for public holidays or not.

Also Read: How To Make a Business Plan and Other Tips On Entrepreneurship

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Staying updated on your organization’s financial health is essential to determine if you are making more money than before. It is also a good idea to see if you are spending less money in specific areas. If there is a decline, it might be time to change or introduce new ideas to remain financially stable and prosperous. In this blog post, we will discuss how to determine the financial health of an organization, so you know exactly where you stand financially.

What is Meant by a Company’s Financial Health?

A company’s financial health is how much money it makes and how well its expenses are managed. A direct relationship between the two needs to be monitored for an organization’s financial health to remain strong. Sometimes there may be a variation in either direction, but keeping both numbers intact helps you decide what changes are required, so your company continues growing. 

A business owner must see exactly how much money his/her company has made and what types of expenses the organization has paid. These two numbers help determine areas where changes need to be implemented for an organization’s financial health to remain strong.

How to Analyze Your Organization’s Financial Health

If you are thinking of how to increase the buying power of your customers, then you need to analyze how your organization is doing financially. There are several aspects of your company you will want to consider when determining your organization’s financial health. When you begin analyzing the financial health of your organization, there are a few different things you should consider.

Calculate Net Income

This number is the total amount of money your company has made after all expenses have been paid. This number is vital in determining if things are moving in the direction you want them to be going financially. When this figure increases, it means your organization’s financial health is improving along with revenues and assets. Net income is measured by subtracting expenses from revenues.

Calculate Operating Income

Operating income is the amount of money your organization has made before interest and taxes are paid. This number will help you determine if there is any growth within certain departments or specific areas that may need some attention to keep growing financially. When this figure increases, it means an organization’s financial health is improving and its cash flow.

Calculate Cash Flow from Operations

This number tells you how much money your organization has made from the ordinary course of doing business. It includes all revenues and expenses for the year. To determine that if your organization is in a satisfactory financial state, this number needs to be positive or at least equal to zero. If this number is negative, there may be a problem your organization needs to address immediately for financial health to remain strong.

Calculate Cash Flow from Investing Activities

Cash flow from investing activities calculates how much money your company has made or lost in capital expenditures and investments it holds, such as bonds, stocks, or other assets that are not part of the ordinary course of doing business. A positive number means an organization’s financial health improves, while a negative number may mean some changes need to be made.

Prepare a Balance Sheet

A balance sheet is a snapshot of your company’s financial health at any given time. It shows what the organization owns and owes, as well as its capital or net worth. During this preparation process, you can see how much money has been made over time to determine if an organization’s growth is increasing based on its assets and net worth.

Measure The Liquidity

Liquidity is measured by seeing how much money your company’s current assets can cover current liabilities. This number will help your organization remain financially healthy by ensuring all obligations are paid on time for both products sold and services rendered.

It is determined by measuring the current ratio and quick ratio. The current ratio is calculated by dividing the existing assets, including cash, inventory, and accounts receivable, by total current liabilities. The quick ratio is measured by dividing the quick assets by current liabilities. Both ratios are used to determine how easily an organization will pay its short-term financial commitments.

Analyze the Credit Score

While determining if your organization is financially healthy, it is essential to look at its credit score. This number tells you how much debt an organization has and if it pays its bills on time. Your credit score can also help you determine if any issue needs your attention regarding your organization’s financial health. It is vital to keep your credit score high so you can continue borrowing funds if required without having too much debt.

Take a Look at Solvency

Solvency is determined by taking a look at liabilities, such as accounts payable and creditors, then determining if they are more or less than an organization’s assets, which include cash, inventory, and accounts receivable. If your organization’s liabilities are more significant than what it owns in assets, there is a good chance it has financial issues.

Solvency is somewhat similar to liquidity as it also looks at how easy it is to meet financial obligations. The difference between the two is how they are calculated. Solvency is determined by how much debt an organization has, while liquidity is how easily it can pay its current financial obligations.

Pay Some Attention to Efficiency

Efficiency is how well an organization uses its assets to generate income. This ratio will determine how much profit an organization makes based on how many assets it has, how much money is spent and how well it attends to its customers. The higher this number, the better an organization manages its assets and how much money it has come in for the amount being spent.

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