Posts tagged with "EMPLOYEES"

No.1 State to Hire Workers

new study found Florida is the No. 1 best state to hire workers followed by Washington, Delaware, Nevada, and Arizona.

There are an unprecedented .5 unemployed workers for every one of the 10.7 million unfilled U.S. jobs. This marks the smallest talent pool for employers this century as the ‘Great Resignation’ endures and ‘Quiet Quitters’ – those who do the bare minimum at work — makes up at least 50% of the workforce.

This costs employers $7.8 trillion in lost productivity globally, which makes finding top talent critical and business owners are faring better in some states due to a confluence of factors.

CareerCloud today released a study on the Best and Worst States to Hire Workers using data from the Census Bureau, Bureau of Labor Statistics, Tax Foundation, and the St. Louis Fed to analyze five factors critical to hiring: job openings, population growth, education levels, diversity, and business taxes.

Key Findings:

·        No. 1 Florida: Ranked No. 4 in business tax policies, No. 8 in population increase, No. 25 for adults with bachelor’s degrees, No. 8 for diversity, and No. 14 for job openings.

·        Top 10 states: Florida, Washington, Delaware, Nevada, Arizona, North Carolina, Texas, Utah, New Hampshire, Colorado. Eight of these are in the top quartile for population growth.

·        Bottom 5 States: West Virginia, Ohio, Louisiana, Kentucky, and Rhode Island.

View the study for the complete methodology, data, and a synopsis of each of the top 10 states 

Politics by 360 Magazine via 360 Magazine

Extend the PSLF Waiver

Menendez, Kaine, Gillibrand, Van Hollen, Sarbanes, Hayes, Courtney Urge the Biden Administration to Extend the PSLF Waiver.

The bicameral group of lawmakers asked for the waiver deadline to be extended until July 1, 2023

U.S. Senators Bob Menendez (D-N.J.), Tim Kaine (D-Va.), Kirsten Gillibrand (D-N.Y.), and Chris Van Hollen (D-Md.), alongside U.S. Representatives John Sarbanes (D-Md.-03), Jahana Hayes (D-Conn.-05), and Joe Courtney (D-Conn.-02), today led a bicameral group of nearly 100 colleagues in urging U.S. Secretary of Education Miguel Cardona to extend the limited Public Service Loan Forgiveness (PSLF) waiver deadline until July 1, 2023 – when the Department of Education’s new PSLF regulations are set to take effect, in order to ensure all public servants with federal student loans can benefit from this historic waiver. Since the Department announced the limited PSLF waiver last October, more than 189,000 public servants have had their student loans forgiven through the program and one million have received an average of one additional year of PSLF credit.

“To date, the waiver has been overwhelmingly successful in reducing barriers for borrowers to receive PSLF relief, as the waiver accounts for almost all (91%) of the borrowers who have received forgiveness through the PSLF program through July 31, 2022,” wrote the lawmakers to Secretary Cardona. “The limited waiver [has] also [been] a lifeline for Federal Family Education Loan (FFEL) borrowers who—for the first time—have seen their payments acknowledged in the PSLF program.”

Despite how many public servants have already benefited from the limited waiver, the lawmakers highlighted that these borrowers represent only a fraction of the public servants who are eligible for PSLF. According to the Student Borrower Protection Center’s estimates, only 15% of the 9 million public service workers with student debt have filed paperwork to track their qualifying payments under PSLF. The lawmakers also echoed the more than 20 state attorneys general who warned that fundamental programmatic problems with the PSLF program will immediately return – likely in a more exacerbated manner – if the waiver ends before the Department of Education implements its new PSLF regulations.

“Extending the PSLF waiver will also allow more military service members and federal employees to make progress towards loan forgiveness through PSLF. Though the Department has announced that it is currently working to ensure that all federal agencies and departments automatically provide credit for PSLF for members of the military and federal employees, this program is not yet in place,” added the lawmakers. “Military and federal data matches are critical to ensuring that the Department can identify which borrowers are eligible for PSLF and provide them automatic relief.”

Sen. Menendez and many of his colleagues have long called on the Department of Education to make comprehensive fixes to the PSLF program, which has faced scrutiny for several implementation challenges since its inception in 2007, with only 1 to 2 percent of PSLF applicants being approved each year prior to the Biden Administration proposing a sweeping overhaul of the PSLF program. Today’s effort comes more than a month after Sen. Menendez and several of his colleagues led a group of more than 100 lawmakers in calling on the Biden Administration to extend the PSLF waiver deadline.

This effort is supported by 35 advocacy groups, including: AASA, The School Superintendents Association, Accountable.us, American Association of University Women (AAUW), American Association of Veterinary Medical Colleges (AAVMC), American Council on Education (ACE), American Federation of Teachers (AFT), American Psychological Association (APA), OCA- Asian Pacific American Advocates, Association of Young Americans (AYA), Chicago Foundation for Women (CFW), Community Service Society of New York (CSSNY), Consumer Action, Council on Social Work Education (CSWE), Fosterus, Maryland Center for Collegiate Financial Wellness (MCCFW), National Action Network Washington Bureau, National Association for the Advancement of Colored People (NAACP), National Association of Social Workers (NASW), National Council of Nonprofits, National Education Association (NEA), National Treasury Employees Union (NTEU), National Women’s Law Center (NWLC), New Leaders, New Jersey Citizen Action, Public Law Center, Social Current, Student Borrower Protection Center (SBPC), Student Debt Crisis Center (SDCC), The Arc, The Education Trust, The Institute for College Access & Success (TICAS), UnidosUS, and Virginia Poverty Law Center (VPLC).

Joining Sens. Menendez, Kaine, Gillibrand, and Van Hollen in the Senate in signing the letter are: Majority Leader Chuck Schumer (D-N.Y.), Majority Whip Dick Durbin (D-Ill.), and Sens. Richard Blumenthal (D-Conn.), Cory Booker (D-N.J.), Ben Cardin (D-Md.), Bob Casey (D-Pa.), Tammy Duckworth (D-Ill.), Dianne Feinstein (D-Calif.), Mazie Hirono (D-Hawaii), Amy Klobuchar (D-Minn.), Alex Padilla (D-Calif.), Jack Reed (D-R.I.), Bernie Sanders (I-Vt.), Brian Schatz (D-Hawaii), Tina Smith (D-Minn.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Elizabeth Warren (D-Mass.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.).

Joining Reps. Sarbanes, Hayes, and Courtney in the House in signing the letter are: Reps. Alma Adams (D-N.C.-12), Colin Allred (D-Texas-32), Cynthia Axne (D-Iowa-03), Nanette Barragán (D-Calif.-44), Karen Bass (D-Calif.-37), Suzanne Bonamici (D-Ore.-01), Jamaal Bowman (D-N.Y.-16), Brendan Boyle (D-Pa.-02), Shontel Brown (D-Ohio-11), Salud Carbajal (D-Calif.-24), Sean Casten (D-Ill.-06), Judy Chu (D-Calif.-27), David Cicilline (D-R.I.-01), James E. Clyburn (D-S.C.-06), J. Luis Correa (D-Calif.-46), Angie Craig (D-Minn.-02), Danny K. Davis (D-Ill.-07), Rosa L. DeLauro (D-Conn.-03), Mark DeSaulnier (D-Calif.-11), Debbie Dingell (D-Mich.-12), Lloyd Doggett (D-Texas-35), Adriano Espaillat (D-N.Y.-13), Dwight Evans (D-Pa.-03), Ruben Gallego (D-Ariz.-07), Jesús “Chuy” García (D-Ill.-04), Sylvia Garcia (D-Texas-29), Jimmy Gomez (D-Calif.-34), Raul Grijalva (D-Ariz.-03), Sheila Jackson Lee (D-Texas-18), Sara Jacobs (D-Calif.-53), Pramila Jayapal (D-Wash.-07), Derek Kilmer (D-Wash.-06), John B. Larson (D-Conn.-01), Brenda Lawrence (D-Mich.-14), Teresa Leger Fernandez (D-N.M.-03), Stephen F. Lynch (D-Mass.-08), Lucy McBath (D-Ga.-06), Betty McCollum (D-Minn.-04), James McGovern (D-Mass.-02), Jerry McNerney (D-Calif.-09), Gwen Moore (D-Wisc.-04), Grace Napolitano (D-Calif.-32), Marie Newman (D-Ill.-03), Eleanor Holmes Norton (D-D.C.-At-Large), Alexandria Ocasio-Cortez (D-N.Y.-14), Frank Pallone Jr. (D-N.J.-06), Jimmy Panetta (D-Calif.-20), Bill Pascrell Jr. (D-N.J.-09), Chellie Pingree (D-Maine-01), Katie Porter (D-Calif.-45), Ayanna Pressley (D-Mass.-07), Mike Quigley (D-Ill.-05), Jamie Raskin (D-Md.-08), Deborah K. Ross (D-N.C.-02), C. A. Dutch Ruppersberger (D-Md.-02), Bobby L. Rush (D-Ill.-01), Gregorio Sablan (D-N. Mariana Is.-At-Large), Jan Schakowsky (D-Ill.-09), David Scott (D-Ga.-13), Adam Smith (D-Wash.-09), Abigail Spanberger (D-Va.-07), Haley Stevens (D-Mich.-11), Thomas Suozzi (D-N.Y.-03), Eric Swalwell (D-Calif.-15), Rashida Tlaib (D-Mich.-13), David Trone (D-Md.-06), Juan Vargas (D-Calif.-51), Nydia M. Velázquez (D-N.Y.-07), Bonnie Watson Coleman (D-N.J.-12), Peter Welch (D-Vt.-At-Large), Susan Wild (D-Pa.-07), Nikema Williams (D-Ga.-05), and John A. Yarmuth (D-Ky.-03).

Find a copy of the letter HERE and below.

Dear Secretary Cardona:

Thank you for your continued efforts to improve the Public Service Loan Forgiveness (PSLF) program. As you are aware, the limited PSLF waiver, announced last October, has significantly improved the lives of the more than 189,0001 public servants who have had their student loans forgiven though the program and the one million2 who have received an average of one additional year of PSLF credit. Given the upcoming October 31, 2022 limited PSLF waiver deadline, we write to reiterate our request3 that the Department of Education extend its deadline until July 1, 2023—when the Department’s new PSLF regulations will take effect—in order to ensure that all public servants with federal student loans are able to benefit from this historic waiver. 

To date, the waiver has been overwhelmingly successful in reducing barriers for borrowers to receive PSLF relief, as the waiver accounts for almost all (91%) of the borrowers who have received forgiveness through the PSLF program through July 31, 2022.4 The limited waiver is also a lifeline for Federal Family Education Loan (FFEL) borrowers who—for the first time—have seen their payments acknowledged in the PSLF program. Yet, data indicates that only a fraction of the public servants who are eligible for PSLF have utilized the waiver. According to the Student Borrower Protection Center’s estimates, only 15% of the 9 million public service workers with student debt have filed paperwork to track their qualifying payments under PSLF.5

As more than 20 state attorneys general have pointed out, “[g]iven the essential benefits provided by the limited PSLF waiver, and the fact that fundamental problems with the PSLF program will immediately return (likely in an exacerbated form) upon the waiver’s end, we have grave concerns about the plans to end the waiver . . . before the Department’s new PSLF regulations take effect.”These attorneys general, alongside the education advocacy, government, and non-profit community as a whole, agree that operationalizing and explaining the waiver has been an incredible challenge for the Department, as well as its servicers. Such challenges have left numerous public servants confused about how the waiver, consolidation, and the Department’s one-time review to fix forbearance and deferment failures will work. This is especially true for FFEL borrowers and borrowers who still hold joint consolidated loans from the Department, many of whom are still unaware that they may have an opportunity to qualify for PSLF under the limited PSLF waiver.

Importantly, extending the PSLF waiver will also allow more military service members and federal employees to make progress towards loan forgiveness through PSLF. Though the Department has announced that it is currently working to ensure that all federal agencies and departments automatically provide credit for PSLF for members of the military and federal employees, this program is not yet in place. Military and federal data matches are critical to ensuring that the Department can identify which borrowers are eligible for PSLF and provide them automatic relief.

Since the deadline of October 31, 2022 to qualify for PSLF under the waiver program is less than one month away, we ask that the Department extend this deadline in order to ensure that all public servants with federal student loans are able to benefit from this historic waiver.

Sincerely,

Follow Senator Menendez on Instagram I Facebook I Twitter I YouTube I Flickr I Website

Analytics Illustration by Ivory Nguyen for use by 360 Magazine

5 Ways Pay Stub Creators Can Help You

Over 93 percent of Americans get paid via direct deposit.

This is super convenient for them (who want to wait in line to cash a check at the bank?). However, it can also present challenges if you don’t receive a pay stub every time you get paid.

If this is the case for you, consider generating your own pay stubs. Listed below are 5 benefits you can enjoy by doing so. 

1. Rent an Apartment

Often, when you’re applying to rent an apartment, you need to provide proof of income.

If you get paid by direct deposit, you might not have this information readily available. Generating your own pay stubs ensures you have the documents you need to verify that you can afford the rent.

2. Stay on Top of Your Earnings

Generating pay stubs also makes it easier for you to manage your finances and keep track of your earnings.

When payment information is right in front of you in an easy-to-read pay stub, you’ll be able to pick up on potential issues and correct them sooner. You may also be able to budget better since you have a clearer idea of what you’re bringing in.

3. Qualify for Loans

You can also create pay stubs to apply for an auto loan more easily. When you generate your own pay stubs, you can present them at the bank or car dealership and get approved for a loan faster.

4. Pay Employees Faster

If you run a business, you definitely ought to consider generating pay stubs yourself. This helps you to get your employees paid faster since you can print the stubs right there in the office, rather than waiting for them to be mailed to the employees’ houses.

5. Avoid Employee Payment Errors

More than 82 million workers have experienced paycheck errors at some point in their lives.

When you use a pay stub generator that comes with an accurate pay stub calculator, you’re less likely to make errors and pay your employees an incorrect amount. This makes life simpler for everyone at the company, including you.

How to Make Your Own Pay Stubs

You get to enjoy all these benefits when you make your own pay stubs. As a bonus, it’s also easy to make pay stubs online.

There are lots of tools out there (many of them are free) that you can use to create pay stubs for any purpose. When looking for a pay stub generator, consider the following:

  • Price
  • Ease of use
  • Template options
  • Customer support

Consider whether or not the generator provides a pay stub example, too. This gives you a chance to see what the pay stub will look like and ensure it doesn’t leave out any important information.

Start Generating Pay Stubs Today

As you can see, there are lots of reasons to make pay stubs yourself. If you want to experience these benefits, follow the tips outlined above and start using a simple pay stub creator today. 

Do you need more help managing your money or making plans for the future? Check out some of the other resources on our site today.

Chaos Ignites Agility Illustration by Heather Skovlund for 360 Magazine

Chaos Ignites Agility

2020 exposed the collapse of standardization. We are rapidly moving away from an era defined by outdated standards that held people to conformity and limited their creativity—to today’s new era of personalization that honors one’s individual contributions and embraces fresh ideas and ideals,” said Glenn Llopis, president of GLLG, a leadership and business strategy consulting firm that authored a new report available today: CHAOS IGNITES AGILITY (download full report).

CHAOS IGNITES AGILITY captures the most intimate and disruptive insights from 46 executives across healthcare, corporate, and education. These leaders came together virtually for three days last October to share how they are working to restore individual dignity in how they serve patients, customers, employees, and students to thrive in a post-pandemic reality.

Themes emerged across the sectors, as doctors, professors, executives, deans, and presidents got real about how they have been adapting throughout the challenges and unpredictability of 2020. They collectively zeroed in on these major challenges and opportunities:

  • How to put patients, employees, and students at the center – to activate individual capacity.
  • How to lead through industry transformation when there’s so much uncertainty.
  • How to pursue and employ inclusion as a growth strategy going forward.

This riveting video tells the story.

Organizations represented in CHAOS IGNITES AGILITY include:

Healthcare:

  • CVS Health, Mount Sinai Health System, Anthem, Cancer Treatment Centers of America, Woman’s Hospital, Lenovo Health, Keck Medicine of USC, City of Hope Cancer Medical Center, and American Association of Critical-Care Nurses

Corporate:

  • Starbucks, Microsoft, Twitter, ViacomCBS, Mitsubishi Motors North America, Cost Plus World Market, Chico’s FAS, Inc., RBC Capital Markets, Farmers Insurance, H&R Block, Lyft, and Banfield Pet Hospital

Higher Education:

  • Clemson University, College of Business, Google, USC Marshall School of Business, Drake University, The Eagle Academy Foundation, Fairfield University, Lynchburg, College of Business, University of Washington, Bothell, University of South Florida, College of Business, California State University, Stanislaus, and Metropolitan Community College

Learn more at Age of Personalization.

What Is a Check Stub? Why You Shouldn’t Throw Them Out

Did you know that 54% of the American workforce is affected by payroll issues? Most of these problems stem from companies trying to handle payroll on their own.

There’s a better solution: a check stub generator.

What is a check stub? Read on to find out the answer and more.

What Is a Check Stub?

What is a check stub? It is a stub attached to a check that has details regarding the amount a person is paid. Other details include grand totals and invoice numbers.

The recipient of a check stub can match it with the cash receipts they have. This reduces calls made to the accounting department referring to payments made.

You should always keep check stubs for tax purposes and in case you run into any payday problems. A business can benefit from having its own check stub maker. For example, you can use this check stub generator to solve common payroll issues.

Common Payday Issues

Without an effective check stub generator, it is challenging to keep up with payday. A business that has extra employee benefits or manages different contracts can have an even harder time on payday. The three most common payment issues are as follows:

Incorrect Deductions

Even a cheap check stub generator helps with an incorrect deduction issue. Some have different paychecks every so often because of different benefits, taxes, and salary sacrifice schemes.

Because calculations change, there is room for mistakes. When employees receive incorrect check stubs, they won’t happy. It will also harm records.

Too Little Information

A pay stub without enough information leads to employees not finding their payment history. Don’t be one of those companies who would rather save time than correctly get through the payroll process. All paystub information should get added.

When a company leaves out essential information, it is harder to see where errors come from. This makes it impossible to resolve any problems.

Time Consumption

A lot of companies struggle to stray away from errors if they create paychecks manually. Because it is such a time-consuming job, paychecks may be received later than expected.

Creating a check stub manually means making individual calculations for every employee. This includes taking deductions and taxes into consideration. If you fail to record a change on an employee’s paystub, you run the risk of causing more delays because of incorrect information.

Check Stub Generators

The best check stub generator will make these common errors less likely to occur. Other benefits of generators include creating pay stubs that are professional, eliminating errors when they occur, creating paystub records, and being less time-consuming.

Make Payroll a Stress-Free Job

There is a lot of stress that comes with a manual payroll process. It’s time to make life easier by using what technology has given you. Companies can create check stubs for their employees without the hassle while benefiting from all of the other things that a generator has to offer.

Keep coming back for more articles that can answer questions like what is a check stub?

360 Magazine, Business

Working From Home For The Holidays: Tips To Stay Productive And Employed

The holiday season brings families together, but it also means added distractions for the many people working from home due to the COVID-19 pandemic.

How can remote workers keep their focus sharp and their productivity high while noise and interruptions surround them? And what can businesses do to ensure their employees aren’t slacking and projects are on track?

“Working from home creates a different psychological vibe from the all-business environment of a brick-and-mortar office setting, and that feeling is magnified during the holidays,” says Cynthia Spraggs (www.virtira.com), a veteran of working remotely, author of How To Work From Home And Actually Get SH*T Done, and CEO of Virtira, a completely virtual company that helps other businesses work virtually.

“The holidays bring new challenges to getting work done efficiently at home, and at the same time, employers have concerns about how the holidays can affect workers’ productivity in a home setting. It can cause tension between managers and employees.” 

Spraggs offers tips to employees and employers about working from home productively during the holidays:

How WFH employees can overcome holiday distractions

  • Create a mental commute and brain warm-up. A morning routine can help clear the mind and prepare for the working mindset. “The drive to the office used to create a mental separation between home life and work life and give the worker space and time to prepare for the day,” Spraggs says. “A similar separation time is vital at home, especially in a holiday atmosphere, in order to focus on the work tasks ahead. Develop a routine, such as reading or exercise, that warms up your brain.”
  • Create must-do lists. The holidays are filled with gift lists, parties, family obligations, baking plans, and other tasks that aren’t usually on the everyday agenda. “When these distractions make it difficult to focus,” Spraggs says, “it helps to start the day with a list of work tasks that must be completed that day. Prioritizing them makes it more likely they’ll get done, even if your mind does veer off into visions of sugar plums.”
  • Keep your office space a quiet place, and show everyone the door.

“Establishing a clear boundary is a must,” Spraggs says. “I strongly advise you to put a door between you and the rest of the household, and keep it shut. Otherwise, the home holiday cheer will break your concentration as people and pets stream in.”

How Employers Can Keep WFH Workers From Slacking During Holidays

  • Trust, don’t micromanage. Some businesses go so far as screen- or mouse-tracking software on company-provided devices to check in on their workforce. But Spraggs says that type of micromanaging can be counterproductive as employees feel distrusted and overly pressured. “Such a management practice during the holidays comes across worse,” she says. “Managers can find less intrusive ways to help employees stay on track. Set targets and measure results, preferably using online dashboards with status reports. This makes it easy for employees to earn your trust. The more you trust those who have earned it, and don’t hound them, the more they will produce.”
  • Have daily check-ins. Remote managers should establish either a daily one-on-one call or team call with their employees. In the holiday season, Spraggs says, extra efforts should be made in communication to compensate for people taking time off and getting projects completed. “A regular routine of calls provides a forum for the employees to consult with the manager and each other,” Spraggs says, “and the manager can track performance in real time.”
  • Set holiday goals and rewards. “Your quarterly goals can be augmented by special holiday goals and rewards for meeting them,” Spraggs says. “These dangled carrots incentivize working diligently at home during the holidays and give them a bonus. Making it fun and competitive, the productivity goes up.” 

“It’s all about discipline and knowing how to protect the work side of your home from the fun side during the holidays,” Spraggs says.

About Cynthia Spraggs

Cynthia Spraggs (www.virtira.com) is the author of How To Work From Home And Actually Get SH*T Done: 50 Tips for Leaders and Professionals to Work Remotely and Outperform the Office. She is CEO of Virtira, a completely virtual company that focuses on remote team performance. Before taking leadership of the company in 2011, Spraggs worked with large consulting and tech companies while completing her MBA and research into telecommuting.

Business illustration for 360 magazine article

5 Morning Hacks to Make Getting Ready for Work a Bit Easier and Faster

There are around 115 million employed people in the United States, and a staggering 29% of them are late for work at least once a month!

Are you one of the people struggling to get leave the house on time in the mornings?

We take a look at how getting ready for work can be faster and easier to get you where you’re going on time. 

Getting Ready For Work

Everyone hates getting out of bed in the morning for the rush to work. But with tips from prepping the night before to popping on your favorite tunes, we have you covered.

1. Super Charge Your Alarm

You know how you feel when your favorite song comes on? Set your alarm to something fun and upbeat to make you want to get out of bed and start dancing to it.

A sure-fire way to help you ditch the snooze button and get pumped the second you open your eyes. 

2. Plan Your Outfit

It only takes a few minutes to check the weather app on your phone and plan your outfit for the next day. Get all the items out and ready for the morning.

In the winter you could even hang them over your radiator so they’re nice and toasty for you to put on. A bonus tip is so pop your clothes on before you leave the bedroom. It saves on time coming back to dress later and is a good morning routine!

3. Ditch Breakfast

If you think you can manage it, ditch breakfast first thing. It’s actually good for your body to be able to wake up before eating and will help you get ready faster.

Pre-plan your breakfast on the go so you can grab it as you leave and enjoy it on your journey or even when you get to work. 

4. No Makeup

Are you brave enough to leave the house without your face on? Take charge of how beautiful you are and try skipping makeup once in a while.

If that’s not your thing, you could apply your foundations on the bus. Be careful with your lipsticks, eyeliners and mascara though, it can be tricky to stay steady on public transport!

Another option is to pop apply makeup when you get to work, or just reduce the amount of product that you use. 

Pre-planning what you need and having it laid out in order will also help. You might find liquid foundation takes too long so switch to powder. You can also make sure your nails etc are done the night before. 

5. Shower Before Bed

If you shower the night before it saves tons of time and makes getting ready in the morning a breeze. If that’s not an option, try in shower moisturizers to be even quicker and brush your teeth while you’re drying off and give hair plopping a go to get your locks dry in no time. 

No Excuses!

Unfortunately, you now have no excuse for leaving the house late! Check out our other great articles and leave your top tips for getting ready for work faster in the comments below. 

360 Magazine, Business

COVID-19 Shifted Modern Business

COVID-19 and the global pandemic has presented a significant and unforeseen challenge to many businesses. The government and public health restrictions have meant closures for some, and the economic impacts have meant customers are more nervous than ever before. As a business, managing through this pandemic means shifting the fundamental way you see your business. To better understand how COVID-19 has shifted the perspective of modern business, consider these points.

Managing the books

Prior to the pandemic, businesses could be excused for not being across the minutia of detail when it came to their day to day finances. Managing inventories, purchasing and other key accounting tasks may have been considered handled in a lot of circumstances. With the pandemic taking force, it’s been crucial to shift that perspective and consider online accounting software. As businesses shift operations away from bricks and mortar style offices, to working from home, online software is key. Businesses need to be able to manage and keep an eye on all finances in real-time. Making critical accounting decisions remotely could make or break the business, so your business needs to be agile in the way it operates. Traditional businesses could get away with quarterly reporting or even monthly, but the modern business will need to be much more focused on the numbers week to week or even day-to-day. Online software can keep you up-to-date with the accounting details you need to make smarter decisions.

Smart tooling

Previously, businesses considered tools which would allow their employees, customers and competitors to connect a nice service to have. Since COVID took hold, it’s been crucial for the modern business to adapt and offer a range of tools to help create those connections. In lieu of seeing people face-to-face, businesses needed to find ways to create virtual collaboration and avoid an over-reliance on traditional communication methods, like email. 

The modern business has shifted its perspective on these tools and some are now even seeking to find ways to create these virtual connections, similar to the water cooler type conversations you’d see in a physical office. This pandemic has created a divide in project teams, product teams and many other teams where close collaboration was a key to success. Modern businesses, rather than abandoning these ways of working, have adapted and found tools that help them connect better in a separated world.

Productive home workers

Prior to the pandemic taking hold, a lot of traditional business managers held the belief that working from home was unproductive. With public health advice all but demanding businesses have employees work from home, this perspective has certainly changed. Many businesses experienced a changing of the guard, albeit through a transition period. But as time goes by, the modern business is realising that expensive leases and large tenancy are simply not necessary. Employees have proven that productivity will go on, and that business output doesn’t suffer simply because staff are at home. 

Without commutes, some staff even prefer to work longer hours. The pandemic has offered the modern business an advantage to be taken. Allowing staff to become flexible with work arrangements both now and into the future can help build a more engaged and focused workforce. The caveat to this is ensuring staff have the appropriate setups and systems access to do their jobs effectively.

~

COVID-19 has challenged many widely held beliefs about the way a traditional business needs to run. From managing the day to day to allowing staff the freedom to work from wherever they are most productive. Modern business perspectives have changed and a lot of managers would argue it’s about time too.

City of Seattle Diversity Trainings

By Eamonn Burke

The City of Seattle recently held a training about “Interrupting Internalized Racial Superiority” for their white employees. Traits of internalized racism, according to the diversity trainers that led the session, include individualism, objectivity, and intellectualization.

The training included an extensive list of offenses that white people can commit against their co-workers, as well as a guideline for being allies to minorities. The also city encourages self affirmation in one’s contribution to the persistence of racism, with a goal of “undoing whiteness”. A visual aid of the racist “cycle” was included in the training. Another handout read: “racism is not our fault but we are responsible.”

A major focus of the training was that white people had to “give up” certain privileged liberties to truly purge themselves of internalized racism. These include comfort as well as social status and control. Lastly, they gave examples of achieving the status of a “white ally” to describe the goal of the training.

The goal, as described by the city in an email, is for “city employees who identify as white to join this training to learn, reflect, challenge ourselves, and build skills and relationships that help us show up more fully as allies and accomplices for racial justice.”

Mina Tocalini, 360 Magazine, Scooter Braun

Scooter Braun on Coronavirus

Scooter Braun, manager to Justin Bieber and Ariana Grande, among others,  sat down with Yahoo Finance’s Andy Serwer to share his thoughts on coronavirus and his position in business.

In the newly released interview, taped on May 20, Braun called on top executives to sacrifice some of their wealth, if necessary, to ensure the well-being of their employees.

Braun on his view on top executives during the pandemic: “I don’t think it’s okay to whine about being compromised when your employees are being  devastated.”

More on his view on top executives during the pandemic: “If you’re living such a glamorous life, then maybe you don’t get that extra luxury, maybe you get compromised, maybe things feel a little bit tight for you.”

On salary cuts for employees: “I’m a firm believer that if salaries need to be cut or people need to be fired, the CEO should drop their salary in this one year down to zero…I’ve made it very clear for my employees day one that if there’s going to be any salary cuts, it will be mine first.”

On the inability of political leaders to reach compromise agreements to better address the pandemic: “I really feel at this point that our leaders need to stop worrying about just their base, and realize that we’re now being put in a position by the environment — by the world, the planet —now teaching us a lesson.”

You can view the rest of the conversation here.

Follow Yahoo Finance: Facebook | Twitter