Human Resources Archives - 365 Business | Business Tips & Advice Thu, 30 Nov 2023 19:03:14 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.2 https://365businesstips.com/wp-content/uploads/2020/04/cropped-favicon-32x32.png Human Resources Archives - 365 Business | Business Tips & Advice 32 32 DEI initiatives will be the biggest recruiting tool for Gen Z. Here’s why. https://365businesstips.com/dei-initiatives-will-be-the-biggest-recruiting-tool-for-gen-z-heres-why/ Fri, 01 Sep 2023 22:23:25 +0000 https://365businesstips.com/?p=16032 Gen Z is the latest generation to join the workforce. And like generations before them, they have a collective set of ideas about what makes an ideal organization. For Gen Z, diversity, equity, and inclusion or DEI initiatives dominate their expectations. However, this cohort doesn’t think about DEI like its predecessors do.

It’s not just about demographics, and it’s not enough for leaders to say they support diversity. DEI is all-encompassing, including personalities, thinking patterns, and worldviews. Gen Z finds it hard to join and stay with organizations without initiatives that permeate a company’s entire culture. Often, they don’t, leaving those companies behind for those where they feel comfortable as their true selves.

Consultants who help improve cultures realize how instrumental they can be to recruiting and retention. When you’re sitting on the recruiter’s side of the table, savvy candidates are asking hard-pressed questions. They want to dig at what it’s really like to work there and if they’ll get the support they crave. But when it comes to Gen Z and DEI, there’s no faking it. Here’s why DEI matters so much to this generation and what you can do about it.    

Why DEI Matters

It’s natural to think of a job as a means to an end. You’re trading your time for a paycheck. How you feel about the company’s culture sometimes plays second fiddle to your bank account. You’ve got to grin and bear it to survive. This line of thinking tends to align with previous generations, such as Baby Boomers and older Gen Xers.

Marissa Andrada, culture master and kindness catalyst, would argue it’s a breath of fresh air to see these views losing their grip with Gen Z workers. As a generation, Gen Z is more diverse and defines success differently. They want different things from their employers because they’re the most diverse population to ever enter the workforce.

Andrada says, “I have always cared about helping companies and leaders cultivate environments where everyone feels psychologically safe and a sense of belonging. The ‘old guard’ of hierarchical corporate life used to feel like this to me: ‘Here is what success looks like. These are the skills and behaviors to be successful.’ That success profile was based on the leaders at the top.”

Elaborating on this profile, Andrada says, “They all looked the same, dressed the same, had the same weekend hobbies (golf anyone?). To be successful in this construct was to learn how to assimilate. Gen Z wants to belong, feel supported at companies that prioritize inclusion, and they want to see evidence of it.”

Prioritize DEI

You’re mistaken if you think Gen Z doesn’t do their homework. Your recruiting efforts start with your culture’s reputation. They go beyond what your company’s website touts about DEI. Younger job seekers are checking employee reviews, especially ones from similar backgrounds. Candidates also look to see who makes up your executive team and whether you have a DEI officer on staff.

They’re verifying your organization’s human resources and professional development certifications. They want to know you’re acting on your words. If the executive page of your website doesn’t reflect diversity, most Gen Z will move on. It can be a red flag, particularly if no one on the executive team reflects who they are.

A critical move HR leaders can do is to examine their data. Is the talent pipeline supporting diversity at each stage? And what is the organization doing to minimize biases? Say your company attracts a good number of diverse candidates. But not enough applicants make it to the initial interview.

This data could signal a need to address flaws in your screening and application review processes. The same goes for gaps in the number of diverse candidates who accept offers. If job seekers get to this stage but don’t come on board, you could have a culture problem.

Support Diverse Decision-Making

Prioritizing DEI also means focusing on diverse decision-making. You don’t want your committees to look and think the same. Collaborative committees with a range of perspectives demonstrate you’re serious about DEI. It can also boost business performance.

McKinsey & Company’s research shows culturally and ethnically diverse organizations are 33% more likely to outperform industry peers. In addition, gender-diverse executive teams are 21% more likely to have exceptional profitability results when compared to competitors. Companies that perform well tend to attract high-performing candidates regardless of generation.

The presence of diverse decision-making teams says different opinions have a voice. The company isn’t excluding anyone from the table where choices are made. It’s proof an organization supports the career progression of workers with varied backgrounds.

Extend the Meaning of DEI

Everything about your culture is either going to support or discourage DEI. Diversity and inclusion aren’t just about giving everyone a decision-making voice. When it comes to recruitment and retention, Gen Z is evaluating the overall employee experience.

Are your benefits and work arrangements supporting different needs, such as neurodivergence? How about the way managers talk during informal conversations and meetings? Are there comments that could be interpreted as hostile and insensitive?  

Address any shortcomings employees and candidates could interpret as marginalization at best and outright discrimination at worst. Remember, the employee experience can start with internships and trainee programs. While it takes everyone in the organization to fix a culture, it starts with behaviors leaders tolerate and endorse.

Think of DEI as a Recruiting Tool

Surveys among Gen Z workers show 67% have seen workplace discrimination while 44% have experienced it themselves. These statistics point toward the dire need for culture overhauls. But Gen Z doesn’t want employers to just put the kibosh on workplace discrimination.

They want open, active support of the full meaning of diversity and inclusion. Gen Z seeks organizations that embrace DEI in its truest sense — a culture that fosters psychological safety, belonging, and support for every individual, regardless of their background. Leaders who create cultures with these attributes can position themselves as magnets for Gen Z talent, enabling them to build diverse and high-performing teams that drive innovation and success.

]]>
Employee Appreciation Ideas Your Competitor Hasn’t Thought of Yet https://365businesstips.com/employee-appreciation-ideas-your-competitor-hasnt-thought-of-yet/ Fri, 07 Jul 2023 16:36:49 +0000 https://365businesstips.com/?p=15956

In today’s competitive business landscape, attracting and retaining top talent is crucial for success. One effective way to motivate and engage your employees is through appreciation and recognition. While many organizations understand the importance of employee appreciation, it’s the unique and creative approaches that set you apart from your competitors. Let’s begin to explore some innovative employee appreciation ideas that your competitors may not have thought of yet. Additionally, we will discuss the role of the best-rated payroll software in streamlining your appreciation efforts.

  • Personalized Recognition Programs

Every employee is unique, and recognizing their individual contributions can make a significant impact on their motivation and job satisfaction. Consider implementing personalized recognition programs that acknowledge each employee’s strengths and accomplishments. This could include personalized notes or emails from managers, highlighting specific achievements and expressing gratitude for their efforts. By personalizing the recognition, you demonstrate that you truly value and understand your employees’ contributions.

  • Surprise Celebrations

Spontaneous gestures of appreciation can go a long way in creating a positive work environment. Surprise celebrations for birthdays, work anniversaries, or personal milestones can make employees feel valued and cared for. Organize impromptu office parties or bring in treats and decorations to celebrate these special occasions. Such surprises not only boost morale but also foster a sense of camaraderie among team members.

  • Flexibility and Work-Life Balance

In today’s fast-paced world, achieving work-life balance is a challenge for many employees. Show your appreciation by offering flexible work arrangements such as remote work options, flexible hours, or compressed workweeks. This demonstrates that you understand and respect your employees’ personal lives and trust them to manage their responsibilities effectively. Embracing flexibility not only improves employee satisfaction but also enhances productivity and engagement.

  • Employee Development Opportunities

Investing in your employees’ professional growth not only benefits them but also your organization as a whole. Provide opportunities for continuous learning and development by offering training programs, workshops, or conferences. Additionally, consider assigning mentors to help employees develop new skills or explore career paths within the company. By nurturing their growth, you show that you are invested in their success, fostering loyalty and motivation.

  • Employee Appreciation Events

Hosting special events dedicated to recognizing and appreciating your employees can create memorable experiences. Consider organizing an annual appreciation gala, team-building activities, or off-site retreats. These events provide an opportunity to show gratitude for their hard work and dedication while also fostering a sense of unity and teamwork. Moreover, they allow employees to bond and build relationships outside of their day-to-day work.

  • Peer Recognition Programs

While recognition from managers and leaders is important, encouraging peer-to-peer recognition can create a supportive and collaborative work environment. Implement a peer recognition program where employees can nominate their colleagues for exceptional work or acts of kindness. This could be done through an online platform or a physical suggestion box. Recognizing employees through their peers not only increases morale but also promotes teamwork and a sense of community within the organization. Consider providing rewards or incentives for those who receive peer recognition to further motivate and encourage this positive behavior.

The Role of the Best-Rated Payroll Software

To effectively implement these employee appreciation ideas, it’s essential to streamline your HR processes, including payroll management. Investing in the best-rated payroll software can significantly simplify your administrative tasks, allowing you to focus more on fostering a culture of appreciation. With advanced features such as automated payroll calculations, direct deposit, and tax compliance, software like Gusto Payroll software ensures accurate and timely compensation for your employees. By efficiently managing payroll, you can free up valuable time and resources to implement and execute creative appreciation initiatives.

Conclusion

In conclusion, employee appreciation is a powerful tool in today’s competitive business landscape. By embracing innovative ideas and going beyond traditional approaches, you can differentiate yourself from competitors and attract, motivate, and retain top talent. Streamlining HR processes with the best-rated payroll software enables you to focus on creating a culture of appreciation. Adopt these strategies to foster a positive work environment, cultivate loyalty, and drive organizational success. Prioritizing employee appreciation is a win-win situation that benefits both employees and the organization as a whole.

]]>
Best Tips For Filing A Disability Claim https://365businesstips.com/best-tips-for-filing-a-disability-claim/ Mon, 26 Jun 2023 17:23:09 +0000 https://365businesstips.com/?p=15937 Understanding Disability Claims

Before getting into the tips, it’s essential to understand what a disability claim is. This is a claim made by individuals unable to work due to a disability that hinders them from performing their regular job duties. The disability could be either physical or mental, and it’s usually determined by medical professionals. The process of filing a claim can be challenging and complex, but with the right guidance, you can navigate it successfully.

Tips for Filing a Disability Claim

1. Understand the Eligibility Criteria

Each disability program has its own set of eligibility criteria, often based on your work history, the severity of your disability, and how it affects your ability to work. It’s crucial that you understand the specifics of the eligibility requirements for the program you’re applying to. This could include understanding Social Security’s definition of disability or knowing the specific details of your employer’s disability insurance policy.

2. Gather Comprehensive Medical Documentation

The most critical component of a disability claim is the medical evidence. This includes medical records, doctors’ reports, test results, and a detailed account of your treatment history. It’s important to show that your disability is severe enough to prevent you from working and that you’re under regular and ongoing treatment. The more thorough your medical documentation, the better your chances of having your claim approved.

3. Clearly Detail Your Limitations

An essential part of the process involves clearly describing how your disability affects your daily activities and ability to work. It’s not enough to merely state that you’re disabled; you must show how the disability limits your functionality. Be honest and detailed about your limitations, including difficulty with physical activities, memory issues, problems concentrating, and so on.

4. Consult with a Disability Lawyer

Navigating the disability claim process can be complicated, especially when you’re already dealing with the challenges of a disability. An experienced disability lawyer can guide you through the process, helping you avoid common pitfalls and maximize your chances of success. They can assist with completing the application forms, gathering medical evidence, and even representing you at a hearing if necessary.

5. Don’t Overlook the Appeal Process

Many people don’t realize that the initial claim denial isn’t the end of the road. The appeal process is an integral part of disability claims. If your claim is denied initially, don’t give up; appeal the decision. Most disability systems have a series of appeals that you can go through, each providing a new chance for approval.

6. Prepare for a Long Wait

Unfortunately, the disability claims process can be slow. It can take months or even longer to get a decision, especially if you end up going through the appeal process. Patience is key, and you should prepare for this wait time. Ensure you have plans in place for your financial stability during this period.

7. Keep All Communication Records

Finally, it’s important to keep a record of all communications relating to your disability claim. This includes letters, emails, phone call notes, and documents sent to or received from the disability organization or your lawyer. Having this documentation can prove valuable if there are any disputes or misunderstandings later in the process.

Conclusion

Filing a disability claim can be daunting, but it doesn’t have to be. By understanding the eligibility criteria, gathering comprehensive medical documentation, detailing your limitations, consulting with a disability lawyer, utilizing the appeal process, preparing for the long wait, and keeping all communication records, you can greatly increase your chances of a successful claim. It’s not an easy road, but with the right approach, it’s certainly navigable.

]]>
How to Hire the Right Employee for Your Company? https://365businesstips.com/how-to-hire-the-right-employee-for-your-company/ Fri, 28 Apr 2023 17:49:25 +0000 https://365businesstips.com/?p=15847 Hiring the proper and right employees with so many latest job openings in India may make or ruin your company. Employee recruiting is all about stress management since your pick will be continually judged, and you will never be able to please everyone in your organization.

Hiring a new employee may be a difficult procedure in which you must continually appraise people’s talents as well as the decisions you make. You must ensure that you choose the ideal applicant for your organization, one who can do the best for the job and fit perfectly in with your corporate culture.

Hiring an employee is about more than just their qualifications and vast work experience; there are several other important criteria to consider as well. An interview, on average, lasts 40 minutes, according to data. It is impossible to know the candidate completely in 40 minutes.

Importance of hiring the right employee

Hiring new candidates or employees that are the best fit for the company is really important. There are many latest job openings in India and you must hire the right candidate as the company is known for its good employees and personnel. Employees are known as the face of the company and they are the ones who will engage with customers in huge settings. Hiring the incorrect person can cost you more money.

Here are some of the reasons why hiring the proper person is critical:

  • Customer Support: Hiring the best candidate will help you in providing excellent customer service and also providing the best client experience. In today’s competitive market, managing and dealing with potential customers is very difficult.

  • Business Development: The right candidate will work hard to participate in all activities which will result in making the correct hire and will also result in saving time and money in the future. As a company expands, the properly recruited candidates will grow to fit in perfecting investing and maturing under the firm’s growth and will help in benefiting the business.

  • Reduce your turnover rate: People search jobs by category and look for the employees by choosing the right category as hiring a new employee is a time-consuming procedure that necessitates a large investment of resources and money. When you hire the incorrect person, you typically have to recruit another after some time, or the candidate will quit the company too quickly. As a result, the company’s turnover rate will grow which will also lead to going through the same procedure of onboarding.

Steps for hiring the right candidate for your company

When the company is looking for the best and right candidate, the company hiring team should be aware of and know what qualities they are looking for in the candidate. There are many latest job openings in India and people are actively applying for the jobs but you should always look for the right candidate for your company. You can take plenty of your time to look at and choose the right candidate. Below mentioned are the steps you can follow to find the perfect and the right candidate for the job and help to achieve your company goals.

  • Define the job position: The hiring right candidate hunt begins with a good and detailed job analysis. You and your HR team colleagues can examine the company’s internal needs and determine whether positions are available. Defining the role allows you to develop an effective recruitment approach to discover the perfect candidate.

  • Write an excellent job description: Once you’ve selected the post to fill, you may concentrate on creating the position’s crucial requirements. The candidates looking for jobssearch jobs by category so make sure to define and prioritize the user’s credentials. After that, you have to define the qualities and professional experiences you seek in a candidate. Your job description should be short and concise along with the full job requirements so that the right and the best candidate can look out for all the requirements of the position and consider applying if they are a good match for the position. This also helps in the elimination of applications from individuals who lack the necessary skills and credentials for the post.

  • Evaluate the job vacancy internally: Once you’ve drafted the job description and determined the salary, see if you can fill the position internally. You can send an email to all workers informing them about the job and telling them that you are searching for applicants internally. Existing workers can show their interest in the post by completing an internal position application. If you identify potential internal candidates, make sure to notify their existing manager that you are exploring a new job with their team member.

  • Schedule the interviews for internal candidates: Schedule one-on-one interviews with each internal applicant who is interested. As the recruiting manager, you can conduct interviews alongside the team manager for whom you are looking. The interview evaluates the candidate’s technical abilities, expertise, and cultural fit for the post. If you have chosen an inside applicant for the post, make a new job offer that outlines the new position and remuneration.

  • Post job openings on external platforms: If you haven’t filled the position internally, you can post about the openings externally on the company’s career website and professional social media profiles. You can also post the open position on the websites of professional associations, employment fairs, and university placement pages. It is a good idea to create a database of skilled external applicants from whom you may recruit in the future for open positions.

  • Shortlist and conduct candidate screening: When you get applications from qualified applicants, email them an acknowledgment saying that you have received their résumé. You can examine their resumes, and cover letters, and after the evaluation of the application, create a shortlist of applicants that meet your selection criteria. Contact the selected candidates over the phone or by email to let them know they passed the initial screening. Also, ask them to see if they are available for the next interview round.

  • Conduct interviews for shortlisted candidates: Schedule phone, video, or in-person interviews with suitable prospects. Inform the candidate of the interview process’s estimated timeline so that they may plan properly. You can request that team managers and other members of the HR team conduct interviews to assess the candidate’s technical competence, abilities, and cultural fit for the job and position. In addition to interviews, certain professions may need written examinations to assess the candidate’s competency in skills such as coding.

  • Shortlist the final candidates: Once the finalists have been narrowed down, you may invite additional HR team members to review the candidates’ qualifications, references, and other documentation. Keep in touch with qualified prospects via email during the interviewing process so they are aware of their possibilities of selection. Discuss the finalist for the post with other HR team members and recruitment managers based on the performance of applicants in earlier interview rounds.

  • Conduct final discussions: Once the HR staff, recruiting manager, and team manager have agreed on a candidate, make an offer to the selected applicant. Inform the candidate of the outcome in a casual discussion, and explain the offered pay and other benefits. Check with the candidate to see whether they accept the terms. You can proceed with an offer letter if they approve. Be willing to negotiate wages and perks with the candidate. Negotiations are a normal aspect of the employment process. If a candidate persists in excessive negotiations, you may select another finalist from the list.

  • Provide offer letters and start with the onboarding process: Prepare a formal offer letter if you have achieved an agreement with the candidate. The employment position, pay, additional perks, supervisory and reporting relationship, and other terms and conditions agreed upon throughout the recruiting process are all included in the letter. As part of the hiring packet, the candidate receives copies of the offer letter, job description, non-disclosure, and compliance agreements. You can include the starting date on the offer letter after discussing it with the candidate and team manager. The candidate signs a copy of the offer letter and returns it to the HR department for record keeping.

]]>
Struggling With Internal Communication? Here Are 4 Tips That Can Help https://365businesstips.com/tips-for-internal-communication/ Wed, 22 Mar 2023 18:26:12 +0000 https://365businesstips.com/?p=15632 Communication is one of the key ingredients that keep the business world moving. Outward-facing communications (things like marketing and sales) are easy to prioritize, as they are obvious elements of branding and revenue. Internal communications are more subtle, though no less important.

Cloud-based composition assistant Grammarly highlights many of the benefits that healthy internal communication can provide. These include greater levels of trust and engagement as well as improved teamwork, innovation, and productivity.

If your company is struggling to communicate internally, here are a few tips to help you build a better internal communication strategy.

1. Educate Your Team on Different Kinds of Internal Communication

Education is a leader’s best friend. It doesn’t matter how impressive or effective your communication tools are. Without the ability to train your peers and your team members to use them, you won’t be able to maximize your internal comms. 

That’s why, before getting too far into the details of your strategy, you should start with a basic assessment. How well does everyone in your company understand how internal communications should work?

For instance, the employee experience platform LumApps splits effective internal communication into four key categories. These are the quadrants in which information and messaging tend to flow:

  • Top-down communication is when leadership must direct key messaging, such as a major company announcement, down the org chart to the rest of the organization.
  • Bottom-up communication flips the direction of the flow of information, enabling staff to interact with leadership, often through things like feedback and surveys.
  • Peer-to-peer communication promotes collaboration and innovation through the horizontal sharing of information across a company’s workforce.
  • Crisis situation communication focuses on speed and volume and is a quick, comprehensive way to address safety and risk concerns.

It’s important for employees and leaders alike to understand the way information flows within your company. If you want your communication infrastructure to function well, start by making sure everyone is aware of the way information should flow through it.

2. Use the Right Communication Channels for Each Message

There are a lot of different ways to communicate. Every year a buffet of new apps and tools appear on the scene, promising faster, more effective communication. At this point, the list includes (but is certainly not limited to):

  • Email
  • Text
  • Phone calls
  • Memos
  • Video messages
  • In-person meetings
  • Company notice boards
  • Group brainstorming or other meetings

Many tools provide a single communication channel. Others, like Slack, offer comprehensive platforms.

At the end of the day, though, using the latest or the greatest software isn’t going to magically solve internal communication issues. It’s up to organizations to identify what kind of tools they need to communicate effectively.

For instance, a fully remote company could utilize a larger intranet platform to keep an international workforce connected throughout the week. A group working locally in a hybrid environment may want to implement additional lines of communication, such as texting and phone calls. A warehouse may not benefit from a sleek cloud-based solution at all but rather from company notice boards and in-person meetings.

Make sure you’re considering the best channels not based on the merits of the tools themselves but on your organizational needs.

3. Think Outside the Box for Your Communications

There are obvious ways to communicate within a corporate setting. Sending a memo about a new workplace policy or emailing a team about an upcoming meeting are normal and acceptable ways to communicate.

However, there are more nuanced elements of internal communication that don’t work well in restricted formats. Communicating company culture is a good example of a priority for many modern businesses that can be difficult to teach to a team. Texts and emails are too impersonal, and live video sessions or in-person meetings can be impractical (or even impossible in some remote work settings).

When that’s the case, don’t be afraid to think outside of the box as you look for ways to communicate key messages to your team. In the case of something like culture training, you can use a more in-depth communication tool, like podcasting, to get the message across. 

Podcasts give employees the flexibility to listen to a longer message when it fits into their schedule. It also gives leaders the ability to present complex and detailed messages in a personal and engaging format.

As a word of warning, if you do choose to expand your internal communication infrastructure through something like a podcast, make sure to invest in doing so well. Remote recording Saas platform SquadCast points out that focusing on the right features for your podcast, such as consistent recording equipment and capable remote-recording software, can elevate its effectiveness as an internal comms tool. This ensures that the end product is high-quality and easy to listen to.

4. Keep Overall Messaging at a Minimum

Finally, remember to be targeted and concise at all times. Business communication is never meant to be prolific, complicated, or unnecessary.

Business writing is a professional form of communication. In other words, each memo and email isn’t the next Great American Novel. Every internal message should be purposeful, convey relevant information, and be clear, concise, and practical.

It doesn’t matter if you’re composing a memo about a minor announcement or recording a seminal podcast episode that will serve as a foundational element of your corporate identity. Always be clear, precise, and above all, brief.

Set up the right channels for your business. Educate your team on your current communication structure. Think outside the box for each kind of communication you send. Keep things brief. If you can stick to these tenets, you can take your internal company communication strategy to the next level and pave the way for a more efficient, engaged, and productive workforce.

]]>
4 Ways to Streamline Your Income Verification Process And Avoid Fraudulent Reports https://365businesstips.com/4-ways-to-streamline-your-income-verification-process-and-avoid-fraudulent-reports/ Wed, 08 Mar 2023 05:45:18 +0000 https://365businesstips.com/?p=15464 Fraud. It’s bad for any company. But unfortunately, fraud has become a big issue in many facets of business—and especially during the consumer income verification process.

How does this type of fraudulent activity happen? Consider the case of a consumer applying for a loan. The consumer may be asked to provide income verification documents such as a pay stub or end-of-year statement. Ideally, the information contained within the pay stub or statement will highlight whether or not the consumer is creditworthy. There’s just one problem, though: Fake pay stubs and similar collateral can be easily (and cheaply) purchased online.

Regrettably, many nefarious companies are willing to create fraudulent look-a-like forms like pay stubs and W-2s. These forms can fool human eyes and even AI-based systems that aren’t expecting fraud. What’s the result of all this fraudulent activity? In many cases, it’s a “yes” answer to a loan application that should have been a “no”.

It’s not difficult to imagine all the repercussions that could come from lending to an unqualified applicant. Neither is it difficult to imagine all the benefits that can come from streamlining an income verification process. These include fewer “bad loans” made, more accurate approvals accepted, and heightened peace of mind for everyone involved.

If your organization depends on income verification practices, you don’t have to sit still for fraud. Taking just a few steps will help you reduce the chance of being affected by fake application information. 

1. Reduce your reliance on consumer-driven statements and documents.

Bankrate notes that according to online lender Prosper, around 11% of lending documents are in some way falsified. In other words, around one-tenth of all the applications you receive could contain incorrect information. One way to reduce that amount is to validate everything you receive from applicants.

Taking secondary measures to validate data just makes sense. You’re basically just double-checking for the good of your company. For instance, you can still ask for a pay stub. Just be certain to use other ways to back up what the pay stub says.

The bottom line is that you can’t rely on the validity of everything a consumer tells you. Plus, people can make honest mistakes such as inputting the wrong number. Having methods to corroborate what you’re told gives you a way to spot potential fraud quickly.

2. Verify all income through a third-party provider.

Want to completely remove the need for consumers to upload salary-related document images? Partner with an income verification provider. Income verification providers are set up to retrieve salary information from trustworthy sources. Since the information comes from a source like a payroll solutions provider, it can’t be manipulated by a consumer. On the contrary, it should be a dependable snapshot of pay data.

As income verification company Truework explains, handing over income verification responsibilities can be good for all parties. For example, Truework gives consumers access to their income verification reports. That way, they can request changes if they notice disparities. By aiming for full transparency across all touchpoints, Truework minimizes possible snags.

With your third-party income provider doing all the heavy lifting, your team can focus on creating a better customer experience. You can confidently make more loans and make them faster, too.

3. Create a systematic application process throughout your organization.

Once you have your income verification method airtight, think about addressing other parts of your application process. Set aside some time to investigate all the touchpoints along the customer application journey. Are any of these workflows choppy? Inconsistent? Does everyone in your workforce follow the same application journey or are there outlying processes?

Your goal should be to create systematic application approval journeys that can be repeated and measured. Having routines is essential because routines lead to fewer mistakes. They also make it simpler for your new hires to learn the protocols that they’re expected to follow.

As you begin to construct very deliberate workflows, you should begin to see even fewer incidences of missteps or fraud. Additionally, you may be able to increase the speed of your approvals. Consumers are sure to respond with appreciation, which means you may get more repeat loans.

4. Update your tech stack to tighten data security.

So far, the fraud we’ve been talking about has been consumer-centered. Yet fraud can come from both external and internal sources. A full fifth of all data breaches can be traced to insider causes, says WatchGuard

This doesn’t mean that you shouldn’t have faith in your employees. However, your responsibility is to protect your organization and its reputation. Therefore, look long and hard at your tech stack. Do all your systems neatly integrate with each other (and your third-party income verification provider?) Or are there areas where security is lacking?

Switching to a more robust technology can enable you to avoid the chance that an employee could manipulate data. The right system can even give you the chance to limit certain workers’ access to private information. You’ll never have to wonder if your data is protected if your tech stack is supremely secure.

No lender wants to give money to a consumer who is unlikely to be able to pay back a loan. If you’re not 100% sure that your income verification and related processes are working, change them now. You’ll put an end to preventable loan approvals linked to fraudulent reports and documents. And you’ll open the door to happier customers, happier employees, and a stronger reputation.

]]>
Microlearning: The Future of Workplace Training https://365businesstips.com/microlearning-the-future-of-workplace-training/ Thu, 09 Feb 2023 21:33:53 +0000 https://365businesstips.com/?p=15369 Starting a new position or taking on a new responsibility can be challenging, especially when many employees get little to no training. In fact, on average, employees are given just 24 minutes a week for learning. Perhaps an even more concerning fact, nearly 60% receive no workplace training and are entirely self taught. This lack of learning opportunities leaves many employees feeling unsatisfied, and further proving why traditional training models are ineffective. This can also lead to a lack of workplace etiquette and a hostile work environment.

Many organizations today waste valuable resources creating ineffective courses for their employees. It is for these reasons that microlearning has become the newest and most effective way to train employees

Microlearning uses small activities, videos, questions, and nudges to help employees to learn throughout their day. These activities are easy to fit into a busy workday, boost collaboration and retention, and are more targeted and personalized to each individual learner. The results are observable and measurable, and show that this style of learning is nearly 20% more effective than traditional training. 

Message-based learning, like the style employed in a microlearning structure, meets workers where they are. It benefits both the employers and the employees, reducing costs, increasing engagement, and overall is a more effective tool for workplace training. Several Fortune 500 companies and leading nonprofits are already using these methods, inspiring the rest of the business community to follow in their successful footsteps.

Microlearning - the future of workplace training
Source: Arist
]]>
6 Traits To Look For When Hiring Employees For Your Startup https://365businesstips.com/6-traits-to-look-for-when-hiring-employees-for-your-startup/ Wed, 25 Jan 2023 21:23:29 +0000 https://365businesstips.com/?p=15319 When it comes to hiring employees for a startup, knowing what traits to look for can be a daunting task. After all, startups require a unique blend of skills and personality traits that will make them successful in their field. But with the right set of characteristics, entrepreneurs can easily identify employees who have what it takes to succeed in their venture. 

Leadership Skills

Leaders within a startup are essential for the success of the enterprise. They help set the tone for their team and provide direction in order to achieve short- and long-term goals. Leadership skills are important because they allow startups to reach their desired outcomes while also inspiring employees to be creative and proactive with their work. Moreover, having individuals who have a clear vision of where the company is going helps foster collaboration amongst team members and creates a unified sense of purpose. Ultimately, leadership abilities will help startups succeed by ensuring objectives are met in an effective manner!

Self Motivated

First and foremost, entrepreneurs should look for candidates who are self-motivated and take initiative. Startups require those who are willing to go the extra mile and think outside the box when faced with new problems or challenges. Employees should be able to work independently without requiring much direction from management or other team members. 

Communication Skills
Good communication skills are an invaluable asset for any startup, especially when hiring the right people. Good communicators, like Lynton Crosby, CEO of CT Group, can better understand and convey the exact needs of a business and its customers; they can identify problems quickly and collaborate effectively with their team members to come up with successful solutions. Additionally, strong communication skills enable entrepreneurs to form positive relationships with investors and other stakeholders — having people onboard who know how to verbalize ideas professionally will help secure more funding opportunities. All in all, having someone with excellent communication skills on board is crucial for startups looking to make a big impact!

Passion

It also helps if employees are passionate about the company they’re working for. The ideal candidate should share an emotional connection with your company’s mission so that they’ll put forth their best effort each day towards helping your business reach its goals. A great way to spot enthusiasm is through introductions at job interviews — applicants excited about working at your startup will likely stick around longer than those whose attitude seems lackluster or apathetic towards the endeavor.

Problem Solving Skills

Furthermore, entrepreneurs need reliable staff that won’t let them down, so it’s important to keep an eye out for proactive problem-solvers during recruitment. Companies rely heavily on talented individuals who know how to address issues expediently and effectively — having troubleshooters onboard helps ensure operations run smoothly even when things don’t go according to plan! 

Flexible

Last but not least, you may want to consider bringing on flexible people with versatile skillsets; possessing competence in multiple areas gives companies a competitive advantage by enabling them respond quickly and efficiently when market demands change over time. Having such multidimensional personnel can also increase team morale by inspiring other workers while emphasizing the importance of interdisciplinary collaboration within organizations.

Overall, when seeking out potential employees, remember that startups need individuals who show promise in terms of being independent risk-takers yet loyal collaborators — qualities which will help propel any endeavor into success!

]]>
Creating a Strong Company Culture in a Remote Setting https://365businesstips.com/creating-a-strong-company-culture-in-a-remote-setting/ Mon, 23 Jan 2023 21:14:23 +0000 https://365businesstips.com/?p=15306

Photo from: https://www.istockphoto.com/photo/online-business-meeting-gm1221858916-358332944

With the rise of remote work, many companies are facing new challenges when it comes to building and maintaining a strong company culture. A strong company culture is essential for promoting employee engagement, productivity, and loyalty, which are all crucial for achieving business goals. However, creating a strong company culture in a remote setting can be challenging, as it requires new strategies and approaches to maintain communication, foster a sense of community, and build trust and transparency among employees. In this article, we will discuss some effective strategies for building a strong company culture in a remote setting and how to implement them effectively.

What is Company Culture and Why is it Important?

Company culture refers to the values, beliefs, and behaviors that define an organization and shape its actions. This includes things like company mission, values, and goals, as well as the way that employees interact with each other and with customers. Company culture is important because it sets the tone for the entire organization and can have a significant impact on employee engagement, productivity, and loyalty. A strong company culture can lead to better employee retention, greater innovation, and improved customer satisfaction. Additionally, companies with strong cultures often have employees who are more committed and engaged, which can lead to better performance, increased productivity and ultimately, greater success for the company.

5 Key Strategies to Build and Sustain a Strong Company Culture in Remote Setting

  1. Establish clear communication channels and protocols

It is essential to establish clear communication channels and protocols. With remote work, it can be challenging to stay connected, and it is essential to ensure that all employees are on the same page. This can be achieved by setting up regular virtual meetings, company-wide emails, and instant messaging platforms. Additionally, it is essential to establish clear guidelines for communication, such as response times and expectations for when employees should be available. Having a clear communication plan in place can help to ensure that all employees are informed about important updates and decisions, and that they feel connected to the company and their colleagues.

  1. Fostering a sense of community

Another key strategy for building a strong company culture in a remote setting is to foster a sense of community. This can be achieved by creating virtual spaces for employees to connect and engage with one another, such as online forums, chat groups, and virtual team-building activities. These virtual spaces can provide employees with a sense of belonging and encourage them to form meaningful connections with their colleagues. Additionally, it is essential to encourage employees to share their personal stories, interests, and hobbies, which can help to create a sense of camaraderie among team members. This type of engagement can help to build a sense of trust and understanding among team members, which can lead to better collaboration and improved overall team performance.

  1. Recognizing and rewarding employees

Another important strategy is to recognize and reward employees for their contributions. With remote work, it can be challenging to stay motivated, and it is essential to ensure that employees feel valued and appreciated. This can be achieved by creating a recognition program that rewards employees for their hard work and achievements, such as bonuses, promotions, and other incentives. Recognizing and rewarding employees for their contributions can help to boost morale and increase motivation, which can lead to higher productivity and better overall performance.

  1. Employee development

Employee development is another key aspect of creating a strong company culture in a remote setting. Providing employees with opportunities for learning and growth can help to keep them engaged and motivated. This can be achieved by offering virtual training programs, mentoring opportunities, and other professional development opportunities. Additionally, it’s important to offer flexibility in terms of work schedules and location to accommodate different needs of employees. This helps to create a sense of trust and understanding between the employer and employee, fostering a culture of mutual respect and collaboration.

  1. Establishing trust and transparency

It is essential to establish trust and transparency while managing a remote team. This can be achieved by being open and transparent about company goals, strategies, and decisions, as well as by creating an environment where employees feel comfortable sharing their thoughts and ideas. Additionally, it is essential to create a culture of accountability, where employees are held accountable for their actions, and performance is measured objectively. Trust and transparency are crucial for building a strong company culture, as they help to foster a sense of mutual respect and understanding among employees.

Implementing these strategies effectively requires a combination of effective communication, leadership and proactive approach. The management team should lead by example and communicate the importance of building a strong company culture to all employees. Clear communication channels and protocols should be established and reinforced to ensure that all employees are informed and engaged. Regular check-ins and team-building activities should be scheduled to foster a sense of community and encourage employees to form meaningful connections with their colleagues. Additionally, it’s important to regularly review and adjust the company culture as the business evolves.

In conclusion, building a strong company culture in a remote setting is essential for the success of any business. By establishing clear communication channels, fostering a sense of community, recognizing and rewarding employees, and establishing trust and transparency, businesses can create a culture that promotes employee engagement, productivity, and loyalty.

FAQ: 

Q: How can I establish clear communication channels and protocols in a remote setting?

A: This can be achieved by setting up regular virtual meetings, company-wide emails, and instant messaging platforms, and establishing clear guidelines for communication, such as response times and expectations for when employees should be available.

Q: How can I foster a sense of community among remote employees?

A: This can be achieved by creating virtual spaces for employees to connect and engage with one another, such as online forums, chat groups, and virtual team-building activities, and encouraging employees to share their personal stories, interests, and hobbies.

Q: How can I recognize and reward employees for their contributions in a remote setting?

A: This can be achieved by creating a recognition program that rewards employees for their hard work and achievements, such as bonuses, promotions, and other incentives.

Q: How can I provide employee development opportunities in a remote setting?

A: This can be achieved by offering virtual training programs, mentoring opportunities, and other professional development opportunities, and offering flexibility in terms of work schedules and location to accommodate different needs of employees.

Q: How can I effectively implement these strategies in a remote setting?

A: Implementing these strategies effectively requires a combination of effective communication, leadership, and a proactive approach. The management team should lead by example and communicate the importance of building a strong company culture to all employees. Clear communication channels and protocols should be established and reinforced to

Author Bio:

Marijn Overvest is a former lead sourcing manager. He has over 20 years of experience in procurement & negotiations: including 10+ years within the commercial department of a large global retailer and over five years in online start-ups & business funding.

He has negotiated deals up to 500 million euros and has dealt with 1500 different products delivered by 70 suppliers every year. Additionally, he created over 300+ negotiation plans,  being a sparring partner for procurement managers in their process of creating negotiation plans.

]]>
Essential Tips for Creating Better Workplaces https://365businesstips.com/essential-tips-for-creating-better-workplaces/ Tue, 22 Nov 2022 23:02:06 +0000 https://365businesstips.com/?p=15107 Jobs and workplaces will change to adjust to the changing needs of employees. With the rising popularity of remote work, employees are looking for ways to create a work-life balance. 

As employers, it’s our job to not just serve our customers, but to make sure our employees can work in a sustainable work environment so they can work efficiently. Here are some tips to help you create better workplaces.

Tip #1: Consider Hybrid or Remote Work

As mentioned earlier, the introduction of remote has become extremely popular in today’s workforce. Of course, not all jobs can be turned into remote work, but if you have a job that mostly involves working on a computer all day, consider setting up a program to have those employees work from home.

If you still need them at the office, have the job be hybrid so they can show up only when necessary. Having this kind of flexible work style significantly increases employee morale and loyalty. In a  study interviewing workers at their current jobs, 91% of the respondents say that they are happier at work when they have flexible hours and the option to work remotely.

Tip #2: Decentralize Hierarchy

While it is important to establish clear roles in a job setting, we are slowly moving to the idea of team-based work rather than just reporting to the leader. You all are trying to reach the same goal, so think of ways to delegate some of your duties to your employees. This way the bottleneck leadership will loosen leading to objectives getting done a lot faster.

Tip #3: Emphasize Wellness

Consider ways to make your employees more comfortable at the workplace. For example a “Bringing Your Pet” to work day to smooth the rough edges of the day. Or maybe a “Casual Wear” day to add some fun and to emphasize the human aspect of the company. Little things like this will make the long hours a lot more bearable.

Jobs Of The Future
Source: ExecutivePlacements.com ]]>