Category Archives: Legal

How to Give Direct Feedback About Performance

Taso Du Val, CEO and founder of the Toptal freelance talent network, said direct, honest feedback – even if it’s criticism – is the best way to guide your team in the right direction. You also need to know exactly where your business is headed so you can give them the right advice.

“If you’re not direct, people won’t know what you truly think about them and their work, and they will never be able to improve,” Du Val said. “If you don’t know the precise direction your company is headed, no matter how much you’ve communicated to your employees and leadership team regarding their individual performance, they will flounder when it comes to making decisions and taking actions. Once those basic principles are in place, deadlines, regular product plans, performance reviews, structure and processes can easily be put into place.”

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In addition to providing constructive feedback and performance reviews, highlight employee accomplishments. If a team member does something great, let them know. Celebrate their wins and thank them for their hard work. “Positive recognition will create an environment of productivity,” said Shah. “Acknowledging successes by outlining how it impacts the business, rather than with vague pats on the back, is not only encouraging but also helps a person work better in the long run.”

Ask for feedback on your leadership – Your team members aren’t the only ones who can benefit from honest feedback. A true self-assessment of your leadership can be difficult, so mentors, fellow professionals and even your own staff are invaluable in evaluating your effectiveness. According to St. Marie, talking to friends and peers can give you necessary perspective on your leadership style and approach.

How to Choose The Right Shipping Vendor

Most businesses begin by using the best-known shipping vendors. Big names like UPS and FedEx feel safe and established, and your volume may be small enough to justify the expense. However, as your business grows, you may need to choose a multistep and multivendor shipping arrangement to ensure faster deliveries at a reasonable price.

“While using just one carrier may seem like a simple solution, it may not be the most cost-effective one,” said Amine Khechfe, co-founder of shipping solutions company Endicia. “Small businesses should take the time to identify the right shipping mix for their business needs.”

Khechfe recommended that e-commerce businesses consider the U.S. Postal Service (USPS) as an alternative to private carriers, especially if they regularly ship bulky products. Business owners should also consider surcharges for services such as weekend or rural delivery and use this information to determine the most economical options for meeting customer delivery expectations, he said.

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Here are some of the factors to consider when choosing a shipping partner for your e-commerce business:

Dropshipping
Using dropshippers and other third-party logistics providers (3PLs) can also reduce shipping costs. Dropshipping – a process in which a retailer sends customer orders to a manufacturer or wholesaler that then ships the products from its warehouse – is a particularly attractive option for businesses that want to boost their shipping volume without increasing the space needed to store their inventory. Similarly, 3PLs can leverage the combined inventory volume of a group of smaller merchants to offer better shipping alternatives, said Jose Li, founder and CEO of shipping insights and analytics firm 71lbs.

Networking
Building smart, strategic relationships and using technology can help small businesses find the right balance of price and convenience, said Frank Poore, founder and CEO of online merchandising and fulfillment platform CommerceHub.

“The little guys have to act like the big guys,” he said. “They have to do things systematically to minimize costs and transit times.”

Poore suggested looking for suppliers and drop-shippers in the areas closest to your customer base to minimize the distance between the origin and the destination.

What is the Fair Labor Standards Act (FLSA)?

The Fair Labor Standards Act is a federal law that establishes game judi slot, among other provisions, when and how employers must pay their employees for overtime. As the rules stand today, any employee who is not considered exempt under the law must be paid overtime at a rate of 1.5 times their regular pay for every hour they work beyond 40 hours in one workweek.

The U.S. Department of Labor (DOL) defines a workweek as any “fixed and regularly recurring period of 168 hours,” which essentially means seven full, consecutive days. Often, this workweek will be Monday through Sunday, as on a standard calendar. However, the FLSA does not explicitly require that employers adhere to the standard calendar for their workweeks daftar slot online. A Wednesday-through-Tuesday workweek is as valid as a Monday-through-Sunday workweek.

There is no limit to how many overtime hours an employee age 16 or older can work, so long as they are compensated appropriately. For any time a nonexempt employee works beyond that 40-hour maximum, they must be paid at the overtime rate of 1.5 times their standard rate. If not, the employer is in violation of the FLSA.

The FLSA does not count hours worked on Saturdays, Sundays and holidays as overtime. This means that if your employee works eight hours per day Tuesday through Saturday, their Saturday hours are not overtime. However, if the employee works a 41st hour on Saturday, that hour counts as overtime.

Current overtime regulations

As explained earlier, overtime laws are outlined in the FLSA, which is administered by the DOL. The DOL is responsible for interpreting the law and setting precise rules for businesses. These rules establish when employers must pay overtime to employees, the rate at which workers earn overtime pay, and which types of employees are exempt from overtime protections. [Interested in a solution that helps make sure you’re compliant with the law? Check out our time and attendance system best picks.
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“Employers with employees earning less than the overtime threshold need to keep accurate time and attendance records,” said Sally Baraka, senior vice president and general counsel for Paycor. “This is especially important for employers with remote employees who work from home. Other employers may choose to increase the compensation of its employees who are earning salaries close to the threshold. While there is some time before the rule takes effect, it’s important that employers get out ahead of this issue, and review their employee classifications and wages to determine impact.”

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There are two major consequences for employers that violate overtime laws. The first is potential employee lawsuits, which can quickly become expensive and generate negative publicity. For FLSA violations, employers are generally required to provide back pay to affected employees as well as liquidated damages equal to back pay owed. That immediately doubles the cost of compliance upfront, without taking into consideration any legal fees employers would have to cover.

The government could also act against noncompliant employers. The DOL’s Wage and Hour Division can levy fines of up to $10,000 for willful FLSA violations that the agency uncovers. If it finds employers repeatedly, willfully violated the law, penalties could involve imprisonment. In other words, it pays to comply with the overtime laws the first time.

Key TakeawayKey takeaway: The FLSA requires that employers pay employees time-and-a-half for all hours worked over 40 in a workweek.

What Effect does a PR Crisis Have on Your Business?

While a PR crisis’s effect may seem intangible at first, it will definitely affect your business in the long run. Customers and clients want to interact with businesses they trust dewidomino. If your company is caught in a PR storm, it puts that trust in jeopardy. While at first the issue may seem simple or small, if the PR crisis isn’t handled properly, it can grow into a major issue.

Facebook is a perfect example. The Cambridge Analytica PR crisis changed the way Americans viewed Facebook. For instance, while over half of America’s teens are using Facebook, it no longer dominates the teen social media landscape. While other technologies and platforms can account for this change, Facebook’s data privacy issues play a major role in the company’s future relationship with new and existing customers.

Key takeaway: PR crises can have a material impact on your ability to do business. Limiting the fallout related to a PR crisis is essential to surviving and rebuilding brand reputation. When a PR crisis occurs, devise a strategy and adhere to it. Address the problem sincerely and own responsibility. Implement actionable solutions and continue to learn from the incident. A PR crisis threatens your brand reputation and can happen to any company. Sincerity and genuine concern is the best way to respond.

 

How Can Small Businesses Prepare to Get Loans?

Applying for financing entails much more than just filling out an application. To increase your chances of getting financing, small business owners should do their homework and have a strategy Situs Nonton Movie Sub Indo.

Here are five tips to help you prepare your business for financing success:

Know how much you need to borrow upfront. When you apply for business loan alternatives, you’ll likely find that many different loan amounts are available. Don’t commit to borrowing more than what you need – sometimes, you’ll receive penalties for early repayment or for not using your whole loan.

Write a business plan with financial projections. While not all alternative financing providers will demand to see your business plan, enough funding sources have this stipulation that you should prepare your plan now.

Do market research and know the conditions of your industry. Lenders may be more likely to approve borrowers in growing industries. As such, if you can prove that your company’s sector or market primes your business to expand and succeed, present your argument firmly somewhere in your application.

Know your credit score. Often, a credit score below a certain number is an immediate disqualifier for loan applications – even if your company is primed for rapid growth and you’re working on repaying your loans.

Meet with a small business expert and attend training provided through the SBA. As with any important small business decision, you shouldn’t go this one alone. Consult experts and seek training on how to apply successfully for the funding your company needs to thrive.

Which Is The Best Inventory Valuation Method?

Inventories are the largest current asset of any judi online business. Inventory valuation is a process through which companies or businesses offer monetary value for their inventories and generate accurate financial statements. It is important to measure inventories for matching expenses and revenue figures and take good business decisions for a long-term.

Ideally, there are two ways of doing so: LIFO (Last-in, first-out) and FIFO (First-in, first-out). Businesses are often confused about FIFO Vs LIFO. In this article, we’ve explained each inventory valuation method in detail with examples.

What is LIFO?

The LIFO (Last-in, first-out) process is mainly used to place an accounting value on inventories. It is based on the theory that the last inventory item purchased is the first one to be sold.  LIFO method is like any store where the clerks stock the last item from front and customers purchase items from front itself. This means that inventory located at the back is never bought and therefore remains in the store. Presently, LIFO is hardly practiced by businesses since inventories are rarely sold, therefore they become old and gradually lose their value. This brings significant loss to company’s business.

The only reason for using LIFO is when companies assume that inventory cost will increase over time, which means prices will inflate. While implementing LIFO system, cost of recently obtained inventories goes higher, as compared to inventories, purchased earlier. As a result, the ending inventory balance is valued at previous costs whereas the most recent costs appear in the cost of goods sold. By moving high-cost inventories to cost of goods sold, businesses can lower their reported profit levels and defer income tax recognition. Therefore, income tax deferral is the most common answer for using LIFO while evaluating current assets. Due to this, it is strictly banned according to standards of financial reporting; however prevalent across US.

Advantages Of Using LIFO Method :

  • During inflation environment, cost of goods is higher whereas remaining inventory balance in lower. Through LIFO, the main advantage lies in reporting lower profits, which in turn, allows businesses to pay less tax.
  • It is more apt for matching cost and revenue figures and allows complete recovery of material cost.
  • LIFO is simple to understand, easy to operate.

SUSE purchase of Rancher releases new powers of innovation

Open-source enterprise software giant SUSE’s purchase of Kubernetes management startup Rancher Labs opens up new situs slot online.

The acquisition puts SUSE in a better position to take on rival IBM’s Red Hat in the fast-growing Kubernetes market, and will likely help SUSE on its way towards its goal of doubling its revenue by 2023.

Originating in Germany, SUSE is the maker of one of the industry’s most widely used enterprise distributions of Linux. The SUSE Linux distribution runs in enterprise public cloud deployments, in private data centres and on edge systems. In addition, SUSE also sells products higher up the stack, such as container management tooling.

“Our customers have made it clear they want powerful technology that is both leading-edge and reliable to accelerate business transformation,” SUSE CEO Melissa Di Donato said in a statement.

“We have historically delivered innovative solutions that anticipate what enterprises need, and today with Rancher, we are set to make history again. With our powerful and modular approach to open-source software, our customers can count on reliability and unmatched agility to innovate everywhere – from the data centre, to the cloud, to the edge and beyond.”

Rancher Labs has created a platform that makes it easier for companies to set up and manage large Kubernetes environments. Kubernetes is open-source software used to manage large numbers of containers, which host the components of modern software applications. Rancher makes its money by providing professional services and support to enterprises and claims that its platform is used by more than 30,000 engineering teams worldwide to power their Kubernetes container deployments, reported Silicon Angle.

Trucking Technology Is Improving Fuel Efficiency

Whether you order something on Amazon, buy produce at a local grocery store or fill your car up at the gas station, you’re being impacted by trucking technology. The trucking and freight industry has been the backbone of American commerce and the national supply chain for agen slot online.

In 2015, 49.3 million tons of freight valued at more than $52 billion were transported on average per day throughout the United States. That tonnage is expected to increase 1.4% per year until 2045. Trucking and the transportation industry are a vital part of the U.S. economy, and advances in trucking technology have benefited both trucking companies and their customers.

“In the world of commerce, people are expecting more every day,” said Garland Chow, associate professor of operations and logistics for the University of British Columbia’s Sauder School of Business. “All the improvements and adoption in fuel-saving technology has, in some ways, allowed the trucking industry to respond to demand by their customers to lower the price.”

Essential Components of Excellent Customer Service

When it comes to running and growing your Judi bola business, it all boils down to the strength of your corporate philosophy and your customer service.

Customers will say time and again that they are willing to pay more for good customer service. Many customers say they will stop doing business with a company if the customer service culture is poor. This trend in customer experience surveys shows that your retention rates and overall customer satisfaction rely heavily on your customer service and corporate philosophies – in other words, your company culture.

Take the time to support your team and keep them focused on the customer. Do what it takes to make your customers choose to continue doing business with your company. A team that works toward the common goal of providing excellent service and making sure customers like your business will find great success. Take a look at these seven essential components of an excellent corporate philosophy for customer service.

1. Prioritize each customer.
Every customer deserves to be treated as the important part of your business that they are. Set this standard from the beginning to ensure your team knows that customer satisfaction is the No. 1 priority. The future of your business depends on your customers, so your team must treat everyone well at every touchpoint.

It’s vital to hang on to your customers. Talk is cheap – you have to treat each one of them like royalty at every opportunity. Your customers are the reason you are in business; it’s your job to ensure they are happy and want to come back for more. So the next time you are overwhelmed and frustrated, remember never to take it out on the customers. Retention is where the money is – customer service is more important than pricing. Your customers want to know they are valued. Provide the best service possible every time you can and hold on to your customers for dear life.

2. Strive for a great reputation.
No one wants to do business with a company that everyone is complaining about. If your business offers poor customer service and low-quality products, word will travel quickly and your customers will take their business elsewhere.

Make sure everyone in your company strives to do their best to give your customers an unforgettable experience. Your customers should have such good experiences with your business they want to share them. Customer service is where the magic happens – each interaction gives you the chance to prove to your customers how much you care. Focus on ways to create relationships that matter by giving your customers the chance to talk with people who care and don’t just give them a generic response. Your team must embrace the philosophy that your brand’s reputation is of utmost importance.

3. Apologize when needed.
It’s OK to make a mistake – after all, we are all human. However, when your business messes up, it’s likely your frustrated customers will expect some exceptional customer service to resolve the issue. It’s important to know when and how to apologize for the mishap.

First off, fess up early and own it. Realize that sometimes an apology isn’t enough. Some situations call for you to give a hefty discount or even something for free. It takes approximately 12 positive experiences to make up for a single poor one. This means that an apology and a sincere attempt to fix the problem as quickly as possible are crucial to reverse the damage. Always own up to your mistakes instead of placing blame elsewhere, and take the necessary actions to ensure you and your team never make the same mistake twice.

New Zoom Competitor Targets Higher Ed Users

Ed-tech Penyedia Bootcamp Programmer and speculators haven’t missed employees’ inescapable dissatisfaction with current videoconferencing instruments’ restrictions – disappointment that is just developed as the worldwide pandemic delays and numerous classes keep on being conveyed on the web or in half and half organizations.

New business Engageli declared today that it has brought $14.5 million up in seed financing to build up another stage for distant guidance. It’s a great entirety for an organization that is only a couple of months old.

Not at all like famous videoconferencing apparatuses, for example, Zoom, the Engageli stage will be worked without any preparation explicitly for advanced education use. It will “consistently incorporate half and half, coordinated and nonconcurrent online guidance across the board stage,” said Dan Avida, CEO of Engageli.

Avida’s better half, Daphne Koller, is one of the fellow benefactors of internet learning stage Coursera. The couple were motivated to construct Engageli subsequent to seeing their little girls’ change to far off learning in March because of COVID-19.

“I saw that they weren’t in every case completely centered around the instructor or class and were plainly missing the social commitment, so we chose to discover and prescribe to their school a superior apparatus than the conferencing programming that the school was utilizing,” said Avida.

Subsequent to connecting with their contacts with skill in web based learning, Avida and Koller discovered nothing available they considered a decent arrangement and chose to make their own.

Avida and Koller helped to establish Engageli alongside Serge Plotkin, a Stanford University emeritus educator, and Jamie Nacht Farrell, a previous chief at 2U and Trilogy.

From the start, the Engageli stage has the recognizable signs of most mainstream videoconferencing apparatuses. Participants’ countenances are composed into a network configuration, and members can message one another and essentially lift their hands while a moderator is talking.

Where Engageli begins to wander in capacity from nonexclusive videoconferencing stages is a capacity to have breakout meetings without members or moderators leaving one discussion and start another in another conferencing meeting.