Tag: Employee

Categories
HR & People Management

What Is Diversity In The Workplace? Here Are 4 Key Benefits

Workplace Diversity | Representational Image (Photo Credits: Pixabay)
Workplace Diversity | Representational Image (Photo Credits: Pixabay)

Why is diversity in the workplace so important? In this article, we will discuss the advantages of workplace diversity. But first, let’s look at what exactly it means.

What Is a Diversified Workplace?

A diversified workplace means that a company employs a wide range of diverse individuals. This means the company’s workforce includes people of varying gender, religion, cultural background, race, ethnicity, languages, abilities, education, etc. 3 Essential Qualities of Great Leaders to Navigate through Uncertain Times.

The benefits of a diversified workplace are immense. It improves productivity, employee retention and company culture. Here are some key advantages of diversity in the workplace.

Benefits of Diversity in the Workplace:

Improves Productivity

Productivity and diversity go hand in hand. Diversifying your team can boost productivity by 35 percent, research has found. Employees from different cultural backgrounds bring their own individual skills to the table. 4 Ways Start-Ups Can Improve Internal Communication for Better Productivity.

Increased Creativity

Diversity in the workplace brings creativity and innovation. People from different cultural backgrounds have different experiences and thus different prospectives which leads to higher creativity.

Faster Problem Solving

Organisations with higher workplace diversity solve problems faster. Research has found that diverse teams are able to solve issues faster than cognitively similar people.

Better Company Reputation

Diversity in the workplace boosts the company’s reputation. Companies that are dedicated to promoting diversity in the workplace are seen as more socially responsible organisations. As people from different walks of life work in your company and your brand, it opens doors to new markets and customers.

Categories
MSME

Human Resource Management: 5 Tips for Small Businesses to Efficiently Manage Employees

Human Resource Management| Representational Image (Photo Credits: Pixabay)
Human Resource Management| Representational Image (Photo Credits: Pixabay)

A dedicated and hardworking team of employees is important for any business organisation to succeed. Human Resource (HR) is as important as financial resources for the well being of the business. Firms are advised to take good and proper care of their employees and keep them motivated to strive for the best results. A positive working environment also increases the productivity of the employees. Skilled, trained and industrious workforce can help the business move swiftly through difficult times with limited financial resources. It is therefore, highly crucial to hire and retain efficient employees. 4 Successful Tips to Run Discounts & Special Offers For Your Business Ahead of Christmas 2020 & New Year.

Businesses should also lend a patient listening ear to the employees. They should feel valued. Owners need to understand the grievances of the employees and provide quick and satisfying redressal to them. Here are some tips for small businesses to follow to manage human resources at work :

Offering Adequate Compensation

One of the biggest motivator to work is the financial incentives. Employees should be paid adequate compensation matching the level of efforts they put in the work. The remuneration should be at industry levels and on a similar range to that offered by competitors. Offering attractive benefits like health insurance, family insurance, gratuity benefits among others are  also helpful in  persuading talented people to join the business and stay.

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Ensuring Employee Safety

Most firms over look employee safety at workplace. But reports of workplace hazards and accidents are not uncommon. Such incidents reduce the morale of the employees and they even tend to quit the job. Employee safety is the utmost responsibility of the business owner. The businesses’ should continuously assess the risks, put controls in place and ensure that everyone follows the safety rules. National Startup Awards 2021: DPIIT Invites Entries to Reward Outstanding Startups; Know Eligibility, Prize and How to Register Online at startupindia.gov.in.

Resolving Conflicts

Another important way to encourage employees to perform better is by providing quick redressal of their complains and conflicts. Understanding and listening to employee’s issue gives them confidence in the firm and they feel valued. Owners should also encourage the employees to speak up. They should acknowledge that a difficult situation exists and let employees express their feelings. Quick actions on the complaints should be provided with monitoring and follow-ups.

Give Proper Feedback and Appraisal

Small businesses should make sure to give continuous and helpful feedback and appraisal to the employees. They should appreciate the good work done and provide constructive criticism if their performance is not up to the mark. Owners should also set performance goals and award employees who meet them.

Follow Clear Employment Policies

The business should formulate and follow clear employment policies. These should be applicable to all the employees alike without any discrimination. These should include proper and detailed hiring and retention process, compensation packages, career path of the employees and other related aspects. The employee should also be communicated about these policies clearly. Following a set of rules and regulations, increases confidence in the employees.

Businesses can not solely function on the financial resources. Human resources are an equally important component in the success journey of the business. The small businesses should therefore, make sure that their employees are treated well and work to the best of their capacity.

 

 

 

Categories
Business motivation

Who Are You – Entrepreneur Or Employee? Let Us Help You Find Out

What, according to you, being an entrepreneur means? If as per your thought process, entrepreneurship means to start a business, then you are wrong in interpreting the meaning of entrepreneurship. The real understanding of entrepreneurship is more of a mindset. If you do not possess this mindset, then from the mind, you are still an employee.

Now you must be thinking, what does it take to be an entrepreneur? It is essentially what you think and how you do things. Being an entrepreneur is not something mythical. It is to figure out how you need to get a mental leap from the mindset of being an employee to an entrepreneur. As working for the company as an employee and acting for the company as a boss is different, it is more demanding. Being an entrepreneur is a massive lifestyle change.

Let us discuss the thought process of how mindset is different of employees as compared to entrepreneurs.

Remodel Yourself from Working Hard to Working Smart

It’s common when we work for someone, tend to believe that we work smartly, but we are working hard. As an employee, we want to create a good impression for our boss, this leads to more work, and this cycle keeps continuing.

But as an entrepreneur, you classify the work into a checklist of urgent and not urgent. Being an entrepreneur, you need to work smartly and generate good results.

Valuing of Time over Money

Being an entrepreneur, you have a mindset that tends to pay importance to time over money. But on the other hand, you tend to wait to deliver the right amount of money to start working on your dream. Being an employee, you invest in money, but being an entrepreneur, they invest in time.

Being an employee, you work for earning more money, but being an entrepreneur, you value time and always endeavour to invest more in it.

Handling Disappointment in Everyday Base

Being an entrepreneur tends to face some setbacks. As employees working for a couple of years, eventually routine catch up and let you lose focus easily, which results in being frustrated and let it take a permanent place in us. But being an entrepreneur, you won’t let frustration and setback permanent space at work.

Trusting Your Abilities and Skills

Being an employee, you believe you need to have specific skills for running the business, but as an entrepreneur, they take off with whatever they know and learn while running the business. As an entrepreneur, they incline to trust their abilities, and on the other hand, as an employee, they start doubting their abilities.

As an entrepreneur, you tend to have a leader’s skill on you, and as an employee, you tend to be a follower. It happens because an employee focuses on tasks assigned while entrepreneur, they go the extra mile and try to see the bigger picture. If after, going through the points we mentioned, you think you have the skills of an entrepreneur, then go ahead, take a step forward to the journey from employee to entrepreneur.