Financial crises could be severely damaging for your business. A financial crisis can arise in the most unexpected times, even if the businesses have taken enough safety measures to avoid it. There are several factors that contribute to financial crisis in an organization like broad market factors which include overpriced assets and excessive debt built up in a financial system, or financial stress in a specific industry or company due to various reasons. Also, the highly competitive and rapidly evolving market these days gives way to unexpected loopholes in the implementation of financial and corporate strategies, leading to financial setbacks. However, once your company is in a financial crisis you need to use the right strategies to deal with it or it can bring downfall to your business in no time.
Recruiting and retaining patients has always been a challenging task in clinical trials. Although patients are the centre of all clinical trials, the procedures are often not particularly patient-centric. Over years, clinical trials have been designed and carried out by experts, without involving patients in the design process or educating them about the clinical trial. However, lately, pharmaceutical companies have realized the need of making the clinical trials more patient-centric, which emphasizes helping the patients learn about the trials, improving their experience, retaining patients and encouraging trial participation in future. Research also suggests that investing in patient engagement helps in improving enrollment as well as retention, which in turn helps timely completion of the trial. Many companies have, now, realized the significance of patient centricity in clinical trials but very few actually know about the tools and methodologies to make their procedure patient centric.
Hiring a manager for your company isn’t enough. You need a great manager that can bring out the best in your employees, and motivate and empower them to achieve the company as well as professional goals. However, hiring a great manager isn’t always an easy task. On the other hand, an inefficient manager could lead to misunderstandings and miscommunications among employees which could be disastrous for your organization. No matter what industry you belong to and regardless of the size of your company, a great manager is an absolute necessity. There are a few traits that distinguish a great manager from others and while appointing a manager, you need to carefully analyze if your prospective candidate possesses those traits or not.
Workplaces are becoming increasingly diverse these days, where people belonging to different generations, cultures, and ethnicities are together trying to achieve common goals. A Inclusive workplace is beneficial for innovation and inclusion initiatives play a very important role in helping the organizations reap the benefits of workplace diversity. With Millennials and Gen Z increasingly taking up leadership roles, other generations of workers often run the risk of left behind. Also, difference of opinions among people hailing from different cultures needs to be addressed carefully. Inclusion is all about knowing and understanding the perspectives of different employees and creating meaningful solutions directed towards company objectives. Inclusive leaders make all of their employees feel that their perspectives are being valued, so that the organization can be benefitted from their insights. In the absence of inclusion initiatives, employees would eventually leave the organization or would start contributing less.
Like many other industries, healthcare is also embracing a number of new technologies and, consequently, some substantial transformations as well. Patient experiences and healthcare deliveries have experienced huge improvements. Digitization is transforming the healthcare industry in significant ways helping it to excel in every aspect and provide patients a safe and healthy life. Not only the healthcare organizations are now better equipped to take care of the patients,the patients also have become more involved and conscious about managing and monitoring their own health, as well as engaging with their healthcare providers. With the explosion of healthcare information technology, a number of devices have made their way into the market opening up endless opportunities for the consumers as well as healthcare professionals. Let’s have a look at the technologies that are, lately, transforming the healthcare industry.
Many a time candidates that appear to be perfect during interview turn out to be a misfit or incapable of performing up to the expected standards. To avoid such hiring mistakes, a new technique has evolved, known as behavioral interviewing. With time, behavioral interview is gaining much popularity as it helps the Human Resources identify the actual characteristics of the candidates and decide if their skill set matches the requirements. In effective behavioral interviews, candidates are often unaware about which exact behavioral trait the interviewer is verifying.
Every business undergoes a number of changes over time. Be it change in technology, office policies, team leadership, production procedures or anything else, change is inevitable. However, as much it is important to embrace changes to remain competitive, the process is often hard on the employees. Helping employees adapt to changes is one of the most crucial task that the management must accomplish with utmost care or it may bring downfall of the business. Employees are mostly too accustomed working a particular way or with a particular technology and even a minor change can fill them anxiety. That’s why many employees are resistant to changes and many are unable to handle them well. As a leader, you need to find out the right ways to help your employees adapt to change. Because, only a fully functional team that understands the policies and procedures well is capable of bringing positive results and growth to the business. Here are a few techniques to help your employees adapt to changes:
Majority of employees have admitted that finance is one of the biggest stressors in their lives. For some of them this stress is overwhelming while others experience deterioration in their mental and physical health in the form of reduced sleep, irritability and many other issues. And it doesn’t need mentioning that stress majorly impacts an individual’s performance and efficiency at work. Financial concerns aren’t always about how much money a person is earning. It could also be about retirement, budgeting, managing loans etc. It’s important that an individual achieves confidence in such money matters and this is what we call financial wellness. Employees with monetary worries not only exhibit diminished performance at work but also damage the business. Being an employer, you must be aware if your employees are under any kind of financial strain and should be proactive to maintain their financial wellness.
It’s important to respect the privacy of your employees but so it is to see if any of their behaviors is affecting the performance or relationships at work. Drug abuse in the workplace is a serious issue and employers and HR managers are often incompetent to handle it well. Also, until drug abuse poses evident impacts on the work of employees, management often chooses to ignore it. However, it’s important to realize that even a single employee with drug related problem can be a serious threat to the work performance and efficiency of the entire team. Identifying the signs and dealing with the problem of drug abuse in the workplace could be a challenging task. The management must take immediate action as soon as it detects signs of drug abuse but the task isn’t as easy as it sounds and involves a number of complicated steps.
Flexible work arrangements are getting popular day by day. Employers have realized that providing flexibility in work arrangement helps in attracting better quality resources, reducing absenteeism, increasing engagement and reducing turnover. Organizations, these days are opting for different types of flexible work arrangements like variable schedules, part time work, and telecommuting. However, along with the plethora of benefits, flexible work arrangements also come with a few issues. There still lies a stigma around flexibility and many believe that people working with flexible work arrangements are neither productive nor helpful. This implies that when organizational leaders implement flexible working arrangements, there often is a gap between what has been instructed and how the everyday work is being carried out. On the other hand, many employees also feel that they have access to fewer growth opportunities when they take up flexible work arrangements. Flexible work arrangements need to be handled strategically so that the organizations can reap the benefits.