How to boost the Human Capital of the Organization?

Employees are the assets of any organization. Without human capital, an organization cannot sustain on a long scale or we can say the productivity of the organization is exceedingly depending on the employees through which they can get success. Employees in an organization, work according to their expertise which they get from learning, training, and experience. Such expertise makes them proficient in their work and benefits the organization by achieving the required task/goal. 

It is crucial to understand the importance of human capital in any organization. Organizations devote money to train their new employees so in return; they can work hard and assist to attain the organizational goal. But the motivation of employees is another important responsibility of the organization otherwise employees may lose their concentration from the organization which can reduce productivity at work. 

Here are some ways which can help to boost the human capital in any organization.

Train Frequently: 

Here is no doubt that the development of the organization depends on its employees. 

That’s why the recruitment of the right employee at the right place is a vital responsibility of human resource experts for the organization. In case of a mismatch for the required job can lead to a reduction in production as well as the waste of many other resources. It doesn’t mean that an organization can neglect fresh candidates for the job. It requires a suitable induction program that ought to be specially designed for new employees rather than boring manuals and static work roadmap. After that, the organization can provide its employees with frequent training which will help to upgrade their skills and help them to cope with upcoming challenges. 

Well-Defined Work Responsibilities: 

It must be defined to all employees that who are responsible for which work especially the key areas of the required task which should be defined according to the employees’ expertise otherwise it would only waste the time of both employee and organization with zero outcomes. The organization can also define milestones to keep everyone’s task on the track.

Monitor the Performance: 

The performance of the employees must be monitored by the managers or senior authorities of the specific department because it can increase the human capital. Performance can be monitored through employees’ weekly reports which are an easy and effective way to track the progress of employees. It will help the managers to keep updated along their employees as well as weekly feedback will assist them to identify the queries which employees face during their job performance so they could cope with that.

Communicate Directly:

The approach of Hitler cannot work in this era of corporate. No matter what is the position whether junior or senior, every employee should have the right to enter into the office of HOD (Head of Department) or manager to discuss any query or task. Direct communication is the bridge between problems and solutions among the employees and senior authorities. Every employee should allow giving his idea, suggestion, and feedback regarding any matter or project. It won’t only help to bring up new ideas but also create a sense of attachment in employees which will boost their confidence and motivate them.

Motivation: 

The motivation of employees is one of the important responsibilities of any organization to keep itself productive. It is the psychological fact, without the feeling of attachment no one can stay with you for a longer period. It is important to motivate the human workforce from time to time in various ways. It could be monthly meetings on employees’ general issues, appreciation in the form of incentives or awarding them as the Employee of the Month/ Organizations should not wait for the yearly promotions, small encouragements can give big rewards as well.

5 Incredible Benefits of Remotely Business

Before COVID-19, many companies were not in the favor of remote business, or in other words, we can say they had some fence regarding work from homes. Though the current situation is quite challenging for them to make a strategic plan to carry out their business remotely it will provide them some unrevealing advantages for their business. 

If you are thinking to adopt remote working for your business or want to bounce a quick startup, these benefits of remotely business will going to help you to reveal the hidden benefits of modern technology. 

Decrease the Expenses of Business: 

Many companies can decrease their business expenses which are related to the routine operations through remote working which is also smartly increasing their profit on the other side. It is not only reducing the expenses of the business but also beneficial for employees by cutting the traveling, lunch, and attire cost. According to the Analytics of Global Workplace, by practicing remotely businesses, companies can save up to 11 thousand dollars annually per employee. Considering the size of the company, it can significantly beneficial for the companies. 

Enhance the Satisfaction and Retention of Employees:

Remote working of businesses is the most preferred offer which employers can prolong to applicants. According to the online survey of Mom corps, it is quite surprising that despite the great rate of unemployment, people are ready to cut their salaries up to 10 percent to accomplish the job with flexible remote working. In the survey of Owl Labs 2019, it is proved that employees who work remotely stay on their jobs over a prolonged period are increasing the chances of up to 13 percent. 

The better way to hire the Candidates: 

Remote businesses make the workplace more diverse which means more chances to get the right applicant for the position because there is no more hiring border geographically which confines the businesses. With the help of modern technology, Human resource managers can select the candidates, conduct the interview, select and screen them and done further evaluation remotely and cut the extensive process of applying to hire the candidate with a fence. 

Improved overall Productivity:

Some professionals perceive that remote working makes the employees lazy and least focused to achieve the task because of flexibility which is further proved as a myth. Remote businesses attested more productive as compared to the physical office-based businesses. The work efficiency of the employees is associated with the independence of work, enjoyment, flexibility, and comfort in terms of office noise and pressure. 

According to the survey report of Airtasker 2020, because of remotely working, employees work with breaks which makes them more focused on work tasks.

More Alert towards upcoming Challenges:

Coronavirus is an immense challenge for the whole world. It has made the world more alert towards the upcoming challenges in the next period. Many giants in the corporate world have already formulated a contingency plan to work remotely in the incident of any emergency, natural disaster, or pandemic disease. In fact, during the period of crises or bankruptcy, companies can sustain their businesses through remote working. Temporary shifted remote businesses can also get a big exposure in this current pandemic which is and will be beneficial for them. 

How to Manage Your Budget and Finances in COVID-19

Managing money is not only important for the companies but it has some significance in personal life too. Due to the crisis like coronavirus pandemic, it is become essential to manage your finance and do budgeting wisely. As we have already seen some economic consequences recently but the question is how are we managing these economic shifts? Many of us are already in stress that we will deal with it. Such financial-stress can affect the mental health and well-being of a person. Now we have to budget wisely while staying mentally and financially resilient during COVID-19.

Here are some tips to consider while budgeting during Covid-19. 

Observe Changes In Expenses: 

 Coronavirus has come up with several changes in our lifestyles that’s why it is important to come up with new financial adjustments. First should be the SWOT analysis of your expenses to identify that what expenses should be avoided and what are the essential as well as what are the arrangements you need to immediately manage to avoid the decline. This identification and practices could lead you a better financial adjustment or policies. 

Boost Your Savings: 

Analyze the changes which occurred because of coronavirus. Before the pandemic, you have other essential expenses such as transportation, lunch, formal attire for work, and so forth. Now you are doing work from home. It means that costs are already deducted from your expenses. That’s how you can boost your savings up to 10% monthly.

Some other discretionary expenses have also reduced such as before the coronavirus, people often spend on weekend meet-ups or monthly get together on restaurant foods, entertainment which is almost 20 to 30% of your salary. In COVID-19, it is restricted to go out and while maintaining social distancing, you can save that 20% to 30% of your salary. Keep checking your financial statements while adjusting your budget accordingly.

Manage Expenses Which You Cannot Deduct:

 As now you are working from home, some expenses will spontaneously raise such as more usage of electricity like an air conditioner, internet data, and frequent speed, live streaming services to keep connected with the office. You may need new smart devices as well as a new or one more laptop, gaming devices to be connected with friends, and so on. But you can still manage these expenses while budgeting wisely. You can use a free website for movies and games rather than go for subscriptions. Companies can connect with free live streaming short video sessions with certain colleagues through Zoom which may save the cost of both company and employees.

Modify Your Spending:

 Some people’s salaries are affected because of COVID-19. In this case, they can use their savings which they have generated before. It can save them from debt. Otherwise, they can use that money to save for any emergency or any other uncertainty. If you are in a sustainable financial position with enough financial backup for any emergency without debt, you can help a family member or a friend who is financially affecting because of coronavirus pandemic. If there is no one in your surroundings, then you can use it for investment in the future. 

Now we will not be going back to be normal because the meaning of normal is expected to change. And we must have to adopt these financial changes to survive in this new world because COVID-19 has already changed the world.

Tips to Manage Your Project with Remote Team in this Lockdown


COVID-19 has devastated impact all over the world and it is affecting many companies and businesses around the globe. To maintain social distancing and avoid the spreading of coronavirus, many companies have started remote working. But now the question arises that how can we accomplish our project goal while working from home? How can we keep our staff in sync while they are working from home? Here are some tips which can make your project management team in sync in this COVID-19 and help to achieve your project goal in this lockdown.
Trust-Building with Team Members:
In remote working, project managers need to understand that it is essential to develop the trust factor among the team members because you are not meeting with each other in-person. It might be difficult for those project managers, who have never managed the remote team before. You have to build up the trust in their capabilities and allow the team members to do their work complete in their way so they can enjoy the work from home even in this COVID-19 breakout.

Clear Communication:
The key to keep the remote team in sync is clear and timely communication. It is the responsibility of the project manager to communicate with each team member to track multiple tasks of the project and identify the problem on time if there is any.
Make Policies for Remote team members:
Companies/Project management offices must need to make proper work policies for remotely working team because any issue can create a problem for the company. They have must need to address the common issues which are expected to face in remote working. In policies, it includes communication gateways, workflows, and general security issues
Project-cooperation Tools:
Project Management companies need to provide various cloud-based tools to stay in touch with online team members as COVID-19 is a threat for everyone and you cannot do an in-person meeting with them. Here are some tools mentioned which can help the project managers and team members in project management, work-cooperation and conferencing.
Video Conference and Online meetings: Video conference tools help the project manager and remotely working members to stay communicated with each other. They cannot only discuss the project; in fact, they can discuss the other official stuff and the current situation which can help to reduce the boredom of work from home. There are many tools available that offer video conference chat, private chat, screen-sharing calls and presentation streaming to make the work easy like Zoom Meetings, Cisco WebEx and Go-to Meeting.
Synchronization and sharing of documents/files:

With the help of some tools it has become possible for team members to share the files just in seconds around the globe. It includes Google’s G Suite, OneDrive, Box, Samepage, Wimi, Dropbox and NextCloud where your team can easily access, collaborate, message and do the trial audit. The plus point is, some of these tools are also providing search filters, workflow management, and encryption. That’s how project management becoming smart while working from home in COVID-19.

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