The healthcare industry has been tremendously impacted by wearable technology over the past decade. The sensor-based devices are bringing remarkable advancements in diagnosis, prognosis and treatment, in addition to making people more and more health-conscious. A huge number of people have embraced the wearable technology and prefer to monitor their health parameters constantly through the devices. Some of the devices can also be used to send data to the doctors, who can monitor their patients’ health and decide the course of action in a timely manner. The devices can significantly speed up the entire process of diagnosis and treatment by automating a number of processes. Wearable devices can be used to track heart rate, physical activity, sleep, etc and can also guide the users on achieving a healthier lifestyle. Paired with a website or smartphone, these devices store and transmit health data. Statistics suggest that the wearable technology market is expected to reach $150 billion by 2027.
Competition in the workplace is quite common but not every organization makes an effort to ensure that the competition is healthy. Workplace competition can, indeed, be beneficial to the business as it boosts productivity and employee engagement. When in competition, everyone wants to do better than others which leads to increased efforts for achieving results. However, in some cases, it may also lead to low morale, stress, and long-lasting resentment among employees which could be the consequence of constant comparison. Not all employees have the same temperament and while some can thrive well in a competitive environment, others might dread it. Thus, it’s important for organizations to foster healthy competition in the workplace which eliminates the negative effects. Companies often create a competitive work culture by introducing policies like rewarding the employee of the month or announcing promotions with the aim of inspiring the employees. But how many of them bother to find out if their procedures are actually inspiring the employees or demotivating them?
Employee turnover is an inevitable part of all organizations. There are several reasons behind turnover, some of which employers can control while others they cannot. Currently in the U.S., the number of job openings is more than the number of people seeking jobs. This opens up numerous opportunities for skilled workers who can easily switch jobs. The U.S. Bureau of Labor Statistics has reported that since 2010 the number of employee resignations has constantly increased, every year, and has exceeded 40 million in 2018. Turnover could be expensive, be it any organization, and keeping the current scenario in mind, the employers need to find better and effective strategies to prevent it. A recent study has revealed that organizations that focus more on preventing employee turnover are more likely to improve employee engagement in their organization. There are 4 major types of employee turnover and organizations need to understand and analyze them carefully to formulate strategies for minimizing their negative impact.