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BENEFITS A COMPANY SHOULD OFFER

The Benefits provided by a company may vary based upon the job description and the type of organization the employee works for. Providing benefits to employees not only increases their productivity, but also increases their engagement within the company. The right kind of benefits can go a long way in enhancing work performance and efficiency. Flexible working hours Giving employees the option of having flexible working hours as against fixed timings comes with its own set of benefits. since employees are given control over how best they should utilize the time given to them, it fosters a sense of independence and autonomy among the employees. They are more likely to put in their hundred percent if they have the freedom to choose when to complete a particular task instead of it being thrust upon them. Flexible working hours also reduce the amount of time spent on getting to work, so that employees can avoid the tiredness that comes with long commutes and just focus solely on their work. Health insurance Offering health insurance as a part of your benefits package can contribute to employee retention as well as attract new employees. Employees who have an health insurance coverage are more likely to seek preventive health care which will result in healthier employees and reduced absenteeism. Vacation/ paid time off Giving employees some paid time off is essential for them to relax, de-stress, and unwind. Punching in long hours day after day can get exhausting, and without an opportunity to get rest, employees might face burnout at work, bringing down their productivity and efficiency. Taking a short break from work can help employees relieve stress and recharge themselves for the upcoming days of work. Maternity/paternity leaves Maternity and paternity leaves are essential if a company is looking forward to retaining resourceful employees. Offering paid maternity and paternity leaves also attracts new talent. It gives off the impression that the company looks at their employees as more than just labour and values their well being, which can increase their loyalty towards the company. Workplace perks

  Offering workplace perks to employees is an extremely fruitful practice that companies should adopt. These perks can come in the form of free snacks, meals, or even free hobby classes like cooking classes and so on. This ensures that the employees aren’t fixated on their work in an unhealthy manner, and get a break from their work from time to time. When a company takes the extra step forward to ensure the welfare of its employees, it projects the employers in a positive light and encourages the employees to return to the organization.    

By |2019-07-15T06:37:15+00:00July 15th, 2019|Benefits|Comments Off on BENEFITS A COMPANY SHOULD OFFER

RESPONSIBILITIES OF A FINANCE TEAM IN A COMPANY 

A company cannot function effectively if it does not have the necessary financial backing for it to carry out its activities. Without having a set of people who are dedicated towards ensuring that the company can undertake its tasks effectively, a company can easily turn into a lost cause. The finance team is thus that body of individuals who are responsible for ensuring that the company remains financially stable. It looks into gathering funds for the company, handing those funds and strategically planning the ways in which these funds are to be spent. BOOKKEEPING finance The most fundamental function of a finance team is to engage in bookkeeping. It is their responsibility to make note of the day-to-day financial transactions in a company, studying them and analyzing them for the company’s growth. They observe and track all kinds of expenses and purchases that are relevant to the company. BUDGETING

  The finance team collaborates with the managers and the administrators of the company to prepare a budget for the company and to give financial forecasts. This data helps the administrators plan for the upcoming year and assess their staffing requirements, need for expansion, and their financial status. REPORTING AND ANALYSIS The raw data collected by the finance team needs to be transformed into meaningful data that can be understood by those it is relevant to. The team provides the management with a summary of all financial undertakings whose analysis is imperative to the success of the company. They also advise the administration about more efficient ways to ensure the financial stability of the company and make profit. The team also refers to past records about the financial situation of the company to analyze its progress and predict further growth. ASSISTING MANAGEMENT IN MAKING KEY DECISIONS The finance department also assists the administration in making important company decisions. The team has an important say in matters relating to potential investments or upcoming projects. A green signal from the finance department is a must for the company to go ahead and pursue desired projects as only the finance team can determine the feasibility of a particular project and the likelihood of its success. TAX PAYMENTS Every company has to pay taxes, and the finance team is tasked with this duty of handling the tax payments of the company. It is extremely essential for the finance department to adhere to the policies and laws framed by the government and to execute task payments in accordance with them. SOURCING LONG-TERM FINANCING Apart from focusing on the day-to-day financial needs of the company, the finance team also examines potential sources for long-term financing of the company. This may be done through a bank or debt from a private lender. If the company wishes to attract venture capitalists, the finance department must take up the responsibility of preparing all the documents and data needed to put up a good presentation to potential sources of funding.  

By |2019-07-15T06:55:34+00:00July 14th, 2019|finance|Comments Off on RESPONSIBILITIES OF A FINANCE TEAM IN A COMPANY 

ROLES AND RESPONSIBILITIES OF HR IN A COMPANY 

Human resource managers, or the HR, are majorly responsible for recruitment and training within an organization. However, both recruitment and training encompass a large amount of additional tasks that an HR performs on a day-to-day basis. They are also in charge of dealing with employee relations, payroll, and benefits of the employees. 1) Recruitment Recruitment is one of the most important tasks assigned to HR. It is the HR’s responsibility to come up with strategic initiatives to recruit and hire fitting candidates for the available job description. They are also incharge of conveying the company’s policies, guidelines, and terms of contract to potential candidates. 2) Training Session In order to acquaint the new employees with the culture of the company, HR is also required to conduct training sessions to ensure that the newly hired candidates ease into the work ethic of the organization. These training programmes are developed based on the skill sets required of the new employees for their job descriptions. Once the training phase concludes, the HR is also responsible for assessing the employee’s performance and providing further guidance. 3) Performance Appraisal Performance appraisals are another major responsibility that the HR fulfills. Timely appraisals are essential in order to keep the employees motivated and give them constructive feedback in order to improve their performance. Appraisals help the employee identify areas where they can improve upon and thus make more effective contributions to the company. The HR ensures individual communication with the employees in order to deliver performance appraisals once they generate the appraisal reports. This task is extremely essential since it influences the level of employee engagement and productivity on the job. 4) Conflict Resolution Conflict resolution and maintaining employee relations are also tasks that the HR deals with on a regular basis. Whether it is a problem between two employees or between employees and the management, it is the duty of the HR to step in and ensure that the conflict is resolved in an appropriate manner. It is thus essential for an HR professional to remain objective and deliver unbiased decisions when it comes to conflict resolution. The HR cannot side with any one of the parties based on personal affiliations and needs to act in an indiscriminate manner. Since the HR is responsible for maintaining employee relations, being approachable is a must. Employees must feel comfortable approaching the HR and discussing their problems with them without the fear of being reprimanded or judged. 5) Rewards HR is also involved in extending rewards to employees for good performances. Rewards act as a motivator for the employees to perform better and they also introduce a level of healthy competition among the employees. These rewards can be in the form of monetary rewards or simple appreciations of an employee’s performance. Thus, it is important for an HR professional to not limit themselves to a desk job as they need to engage and involve themselves with each and every employee proactively.  

By |2019-07-15T06:55:19+00:00July 12th, 2019|Roles Of HR|Comments Off on ROLES AND RESPONSIBILITIES OF HR IN A COMPANY 

Women Entrepreneurs that made it big!

1) Oprah Winfrey Oprah Winfrey is a media executive, actress, talk show host, television producer and philanthropist. There is no one around the world who has not heard of her as such is her contribution in the field of entrepreneurship which especially affected the empowerment of women and the African American population in general. The Oprah Winfrey show was the highest rated Television show of its time which lead to her advancement in career as she later founded her own magazine, her own website, she has donated millions to NGOs, and she produces a radio satellite network for women and so on. Her contributions for the welfare of the less fortunate and women go unmatched even today. 2) Cher Wang Cher Wang is one of the most influential women in the technology industry because of her remarkable contributions as co-founder and chairperson of HTC Corporation. Her footprints will always remain unmatched because of the first google android that was launched by her company, as well as being the official contract manufacturer of mobile phones in 2000s. She changed the face of technology single handedly in a field dominated by men. 3) Debbi Fields Debbi Fields is the first name you hear when you think food. This is because of her skills as an entrepreneur that helped her sell herself and her skill to the public in an almost seemingly effortless manner. She is the founder of Mrs. Fields Bakeries and has been able to broaden her horizon through several cookbooks. She built a million dollar empire with a cookie recipe to start with, which seems almost impossible. Her journey is indeed an inspiration to all the aspiring bakers out there. 4) Coco Chanel Clothes can sometimes be restricting. Well, it might be a hard to grasp concept in the present day of mini-skirts and crop tops. However, it was indeed “restricting” during the early 19th century with the silhouette corsets that women had to fit into that damaged their bone structure as a whole. Coco Chanel, the French fashion designer and businesswoman decided to do something about it. She launched a revolutionary brand called coco Chanel, which aimed to make clothes for women that were feminine as well as comfortable at the same time. This initiative went a long way that has helped women gain confidence in their bodies and accept themselves, which is symbolic of being accepted in the society as well. 5) Martha Stewart A jack of all trade and a master of all. Martha Helen Stewart is a businesswomen who was extremely successful because of her multiple business ventures. She was successful in her pursuit of being a retail businesswoman, writer, television personality and a model. Next time someone tells you that you can’t do it all, make sure you tell them about Martha Stewart.

By |2019-07-15T07:03:09+00:00July 9th, 2019|Women Enterpreneurs|Comments Off on Women Entrepreneurs that made it big!