• A PEO can assist you with payroll, benefits and human resources support for your business
• PEOs take care of your overseas human resource requirements through a co-employment model
• A PEO can take care of the needs of your staff abroad and make sure your business stays compliant.
Through a co-employment model, these organizations offer comprehensive human resource services abroad for business without a physical presence in the country. This is especially helpful for businesses who want to “dip their toe” in a new market but aren’t yet committed to building an office. Having flexible human capability in a new market can be the difference in your success.
Smaller business should look at what a PEO can bring to their work environment. Overseas employees can access benefits offered by (often larger sized) PEOs and have a localized support network. Understand what assistance you can find in a PEO and how they can support your business success.
Professional Employer Organizations (PEOs) take care of your overseas human resource requirements through a co-employment model. They support smaller businesses seeking to employ people in a country they don’t yet have a physical footprint in. This enables businesses to focus on their core operations and staff at home.
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A PEO partner can pay your overseas employees’ wages on your behalf. They can also offer staff benefits offered in larger companies, such as health subsidies and training. Your business can relax about foreign tax and employment regulations; a PEO takes care of this too.
A PEO can take care of the needs of your staff abroad and make sure your business …Read More
I’ve waived that flag for most of my life, but this is one area that’s so critical to a business’s success and one that requires such specialized focus, consider outsourcing to an unbiased expert.
Hundreds of studies have been conducted over the years that emphasize the cost of a wrong or bad hire. Few studies consider the opportunity loss and the cost of damaged relationships, both internal as well as external. A bad hire can severely damage your culture or a potential relationship with a future customer.
In today’s search for talent, we can’t afford to make the wrong hire, or simply to hope the hire we make is a good fit.
Jim Collins spoke about the difference between good companies and great companies years ago, and one of the most significant findings that separated these companies was the ability to get the right people in the right seats on their “bus.”
The question that drives most business owners mad is, how do I find the right people? Your HR staff isn’t going to get the job done, nor are your hiring manager or recruiter. You need a specialist who focuses on Talent Optimization.
Talent Optimization is a multi-part discipline that helps companies align their business strategy with their people strategy. The first aptitude of talent optimization concentrates on diagnosing people problems. This is done by collecting and analyzing people data and reporting on it to help business leaders make objective decisions about their people strategy.
Most businesses regularly monitor key business results, such as revenue, customer retention rates, or profits and losses.
Why wouldn’t we do the same with key people metrics? By rigorously measuring people data, you can uncover the people problems that are negatively impacting …Read More
This includes world-leading companies such as Apple, Boeing, Nike, Adidas, John Deere, etc., as well as small and medium-sized startups with specialty products. Leading contract manufacturers provide services that primarily focus on two critical areas:
These two areas are the driving factors behind the utilization of contract manufacturing by the most successful startups and the largest technology companies in the world. Below I have illustrated some key reasons how contract manufacturers can add value to your business.
Outsourcing your product to a contract manufacturer unties you from spending on operational and maintenance costs of machines and equipment. Another benefit is your company isn’t be responsible for salaries, wages and other benefits for the operators. Companies also find it beneficial to outsource production to countries with lower wages.
Contract manufacturers specialize in producing products with unique processes and materials. With extensive experience and know-how, capable contract manufacturers introduce new methods and materials that can reduce your costs without jeopardizing the quality of your product.
Dealing with a contract manufacturer that has IP protection protocols set up reduces the risk of your IP leaking. Having one centralized and vertically integrated contract manufacturer who controls product design, tooling, production and supply chain reduces the chance of your IP ending up in the wrong hands.
Using a contract manufacturer to manage your supply chain and build your product can free up crucial resources that can otherwise be redeployed to other vital areas such as sales, marketing and distribution. Attempting to manage a large number of vendors, arranging …Read More
They are not supernatural omnipotent beings who can simply shrug off the most daunting of challenges. Even the most experienced interpreters fumble on certain occasions. Clients also have a role to play to achieve the most accurate interpreting for conversations, meetings or conferences.
Here are four vital details you need to consider when working with a business interpreter.
To make sure that everything will go smoothly, provide everything the interpreter can use to prepare. If possible, share the documents or reference materials that will be used in the meeting or conference with your interpreter. If there are no sensitive details in the documents, provide the interpreter a copy. Anyway, it’s unlikely that you will be calling for an interpreter if the details to be discussed are strictly confidential that no third-parties should be allowed to learn about them.
Providing copies of resource materials or documents is necessary to orient the interpreter about the flow or sequence of the discussions and more importantly, so that the interpreter can get acquainted with unfamiliar terms or concepts. There may be uncommon terminologies or topics that will be brought up during the meeting or conference. The interpreter should be ready for this so they can find come up with the best translations beforehand and not struggle and drag the pace or miss some points of a conversation.
Interpreters are expected to be adept with business concepts, but they may encounter unfamiliar words or expressions that are exclusive to certain cliques. They need to be aware of such details beforehand so they can provide the best possible verbal translations. Consider doing a pre-meeting briefing or a question-and-answer session especially in cases when the topic to the discussed is complex or highly specialized.
It also greatly helps to try how things …Read More
The fear of burnout means companies are increasingly aware that building resilience strategies for their leaders and employees will be key in navigating this market turbulence. Research shows that high levels of leadership resilience correlate with higher job satisfaction, organizational commitment and work engagement; but few companies fully understand just what resilience is or how best to cultivate it in their workplace. Rather, many employ decades-old management practices that are stubbornly out of touch with today’s workforce.
Contrary to popular belief, resilience is not an inborn quality; it’s a skill that requires practice. Here are three ways a company can begin to build resilience among its leaders and employees.
An organization’s leaders must talk the talk and walk the walk. They must model best practices and provide their employees with the language they need to think and talk about resilience. Leaders should build strong relationships with and among their employees, which in turn will create stronger support systems for workers to rely on in stressful situations. They must not wait to begin forming those connections during or after a crisis.
Innovative organizations dedicate time to both the initial learning efforts and conversations about what employees are learning. Conversations should be designed around helping employees debrief about what they have accomplished so far and forecast where they should go next. Leaders must learn to tolerate failure and mistakes, knowing their team is working hard to move forward.
Many organizations already recognize the importance of supporting their employees’ well-being. It is increasingly common for companies to provide their workers with free fitness classes, nutrition education or occasional visits from a masseuse. They may provide employees with mindfulness courses or give them extra time off from work. These are …Read More
When the economy is booming and the unemployment rate is at historic lows, finding the right workers can feel nearly impossible. With several application tracking tools, endless recruiting avenues and several strategies, recruiting new employees can become a complicated task that requires a lot of your time.
Developing a sound recruiting strategy is a good first step toward hiring the right workers. It can decrease the amount of time it takes to get someone hired, and it can lead to more productive workers. If you already have a recruiting strategy in place and you’re still struggling to find workers for your business, it’s important to analyze your current process and consider how to change your recruiting strategy. If you already have a recruiting process in place, there are a few tips at the bottom of this story. If you’re new to the recruiting process, read on.
A recruiting strategy is a formal process for hiring workers. There are a few important components to keep in mind when developing a recruiting strategy:
Keep in mind that a recruiting strategy isn’t necessarily a cookie-cutter approach to hiring workers. Instead, it’s the culmination of what channels you decide to use, how you proceed with your interview process, what your training and onboarding strategies are and how you track candidates through the whole process. The only “strategizing” really comes down to deciding what avenues to attract candidates and taking feedback from former candidates to improve your future recruiting strategy.
“Attracting top talent is no different from attracting and closing ideal customers, and your strategy …Read More
Whether you’re growing, moving to a better location or nearing the end of your lease, new office spaces are a natural part of the small business life cycle. While choosing a new location may not be difficult, finding the right one for your business and team can be. There are several important things to think about before choosing a space for your business, and your employees should be at the top of that list.
“When looking for a new office, the priority is how your team will feel in the new space,” said Joe Lawlor, co-founder of Digital Dynasty.
How can you consider your team’s attitude toward a new potential space? It’s good to start with some common questions and blend your business’s needs with the needs of your team. For instance, budget should dictate what office you move into, but location and proximity to mass transit or parking should be decisions made with your employees in mind.
Sandi Webster, managing director of C2G Partners, proposed some good questions to keep in mind when looking for new spaces:
These are some questions that may not be immediately on your mind when looking but are very important – especially in the age of remote work, when many companies have liberal policies on when employees need to be in the office.
Looking for the right office space for your company boils down to three important needs: location, size and office feel.
The driving force behind your office search is the …Read More
And while every U.S. state mandates that startups carry workers’ compensation insurance in some form, it may seem tempting to skirt the limits on what is legal.
But that is just as much of a mistake as thinking that you can just start a business without the expense of ever consulting a lawyer or an accountant. Worker’s compensation insurance is mandatory, with strict penalties for noncompliance. And even if there was no such law, a smart startup needs a solid policy. Here are some reminders about why workers’ comp insurance is so important, as well as some tips for getting the best policy with the lowest premiums.
Every business, even ones mostly behind a desk, will have workplace accidents, injuries and illnesses. Workers’ compensation insurance kicks in during those instances, and provides benefits and compensation such as reimbursing medical expenses or lost wages. If a worker is killed on the job, insurance will provide death benefits to the employee’s family.
Unfortunately, there is no easy way to estimate how much your startup may have to pay for insurance. Insureon reports that a 2012 study of workers’ comp found that it could range from $.75 in Texas to $2.74 in Alaska. But those numbers are an average across all industries. For example, construction and mining businesses can pay a great deal more for worker’s comp compared to professional practices.
Pie Insurance points out that before workers’ insurance became commonplace in the late 19th and early 20th centuries, employers and especially employees would be stuck in lengthy and costly legal battles to determine whether the company had to pay. As a result, workers’ compensation insurance is no-fault, which means that it will kick in even if the employee is partially responsible for the injury as long as it …Read More
According to a Career Builder survey, it takes 60% of employers 12 weeks or longer to fill job openings. That’s a lot of time, resources and money spent searching for employees, and the more time the position stays vacant, the more time it’ll take to move your business forward.
It’s too easy to create the wrong kind of job listing. If you look on a job board, you’ll see all sorts of examples: listings that are too formal, too casual, too short, too long or have other issues. How do you figure out what kind of posting will bring you the best candidates for the position? There’s no secret formula, but by analyzing data and statistics, you can optimize your job ad to appeal to the right audience so the position gets filled quickly and efficiently.
If you want to know how to write an optimized job posting to find the right candidate and achieve your business goals, here’s how to get started.
Most candidates are searching through dozens of job ads a day trying to find the best fit for their qualifications, expertise and lifestyle. If they see that your posting is long-winded and wordy, it’ll discourage them from applying altogether.
LinkedIn analyzed the job postings on its website and found that short posts (150 words or less) were applied to 17.8% more frequently than lengthy posts (450 to 600 words). The more concise you can make your job listing, the higher your chances are of receiving applications from candidates who have the qualifications you need.
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Don’t leave potential …Read More
One of the most debated topics in immigration is the impact immigrants have on the American economy and small businesses. Business.com surveyed the small business community on the pros and cons of immigration and found that professionals are generally split on the subject.
In one of the most illuminating aspects of the survey, 38.7% of small business professionals said immigration was good for business, 42% said it was bad for business, and 19.3% said it had no effect on their business. This split reflects the polarized attitude toward immigration as the Trump administration pushes for a border wall and Democrats push for DACA protection measures.
This split was apparent in the open-ended responses section, where we asked how immigration has impacted each respondent’s local community and business.
“Immigrants work hard to succeed and are grateful to be here,” said one business professional. “They seek care with open hearts and mind.”
While there were many positive responses, there were several negative ones as well, focused mainly on illegal immigration.
“Legal immigration is fine. Illegal immigrants lower the pay scale for everyone,” said another professional. “It’s difficult to compete with cheap labor when trying to build a business legally.”
One-fourth of the respondents call themselves immigrants, and 87% of those professionals said they felt welcomed by their local community. Despite the overall split in attitude toward the effect of immigration on business, both immigrant and non-immigrant business professionals said they faced similar challenges in running their businesses.
The biggest challenge for both immigrant and non-immigrant business owners was hiring and managing employees. The second biggest challenge for both groups was establishing a customer base for their small business. Immigrant-owned businesses, however, ranked their third biggest challenge as managing finances, while non-immigrant business …Read More