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.
Employee experience is one of the most critical factors that contribute to organizational success. Unfortunately, there are only a very small number of companies that actually understand the significance of enhancing employee performance and are working on it. Employee experience can be defined as the combination of physical, cultural and technological aspects of an organization. It’s important to design these aspects carefully in order to provide a healthy, comfortable and motivating environment to the employees. Employee performance is all about creating an environment of positivity and high productivity in the organization so that the employees are happy to work, contribute highly, grow professionally and succeed. Various studies have found that positive employee experience is directly linked to improved work performance.
Data analytics can bring much desired innovations to the banking industry, helping organizations perform better. With more and more banks and financial institutions emerging, those aspiring to gain competitive advantage need to make strategic use of data analytics. The technology has already changed the way traditional banks worked previously and has significantly improved the process of decision making. However, there still are many more aspects in banking industry which can be transformed by data analytics for achieving greater profitability and reduced risks. The data collected in banks are usually very complex and managing and analyzing them manually or through traditional data software isn’t easy. Analytical tools can, on the other hand, perform the task with high accuracy and efficiency. Here are the areas of the banking industry where data analytics can bring significant changes:
The Internet of Things (IoT) promises to bring revolutionary changes to a number of industries, including healthcare industry. The technology has already impacted the industry in significant ways and experts are working to turn more possibilities into reality. So far Internet of Things has mainly assisted in improving care with telemonitoring and remote monitoring applications. Additionally, some initiatives have also been taken in the field of tracking and maintenance of healthcare assets. However, this could be considered just the beginning and to make the use of IoT omnipresent in the healthcare industry more efforts are required. Researchers are working on more advanced approaches to use IoT for digital transformation of healthcare. Take a look at how IoT can make significant impacts on the healthcare industry:
Effective communication is important in every aspect of life and it is especially crucial in business. Be it a start up or an established organization, good communication skills are must to succeed. However, it’s important to understand what type of communication skill is required for which situation. Regardless of the industry, effective interactions drive the business towards success, for which you must have the right skills and expertise. Every member of an organization must be able to express his or her ideas, opinions or recommendations to the co-workers as well as to the people collaborating with the organization for business. And, being a successful professional means mastering multiple types of business communication.
Employees always expect feedback for their performances and as a manager or leader it’s your responsibility to provide them with effective feedback. Be it an individual employee or a team, feedback plays a crucial role in motivating and engaging your workforce. Letting your employees know how well they are doing or where they need improvement can go a long way in building an efficient workforce. However, feedbacks can sometimes have negative impact and not all managers know the technique of providing effective feedback that can truly help employees develop. Here are some important tips to make your feedback effective.
Workplace diversity is becoming more and more common today as organizations are focusing on hiring top talents irrespective of age, ethnicity, race or geography. It has also been found to be the reason of high productivity and success in an organization. Diverse employee base brings different experiences, perspectives and skills to the organization which, in turn, brings innovation and creativity to work. However, workplace diversity also brings in some unique challenges which, if not handled properly, can lead to major organizational issues. Different views and outlooks can, sometimes, result in conflicts and chaos. Therefore, to take the maximum advantage of workplace diversity and minimize its shortcomings, it’s important for organizations to adopt a strategic approach to handling employees.
Research suggests that the number of people stressed at work is getting higher with passing time. CDC’s National Institute of Occupational Safety and Health has recently reported that about 29 to 40 percent of Americans are “extremely stressed at work”. However, be it any industry or any job profile stress management has become a common issue. And, it has a significant impact on health and may lead to a range of disorders, some of which could be serious. Also, it can interfere with your work efficiency and productivity. There are a number of reasons which lead to stress at work like customer pressure, co-worker relations, work environment and others. No matter what your ambitions or working conditions are, it’s important to understand the source of your stress at work and to deal with it in the right manner to live a healthy professional as well as personal life.