Hiring staff is important and relevant to any business. How much of it depends on what you need for your business. Too many staff and you run the risk of being financially vulnerable, too few, and you restrict the ability to grow and thrive. Here are some tips for hiring in a business.
Know What You Want
It’s good to know what you want when it comes to hiring. If you haven’t got a job description outlined, then it can be a case of drawing in the wrong people, and then you end up starting all over again. It’s important to have your wants and needs in the job description and to have the role cemented before it gets distributed to relevant job boards and agencies. If you can be more precise and on the mark in the initial stages of hiring, then you reduce the risk of wasting everyone’s time and finding the right person. The last thing you want is to end up with someone who was never the right fit because you didn’t have all of the skills or duties of the employee outlined properly.
Assess The Skills & Experience Needed
Regardless of the company, the size or what industry it’s in, the skills and experience are an important part of the hiring process. You want to make sure that the person you’ve picked is capable of doing what you need them to do within the business. Whether you’re looking or plumbers who’ve taken plumbing programs for a handyman services platform or getting a new building manager, skills and experience are relevant. Just like the job description, it’s important to access what’s needed and to make sure that when you’re going through resumes, you’re getting rid of any that don’t match the criteria you’re after.
Look Out For Personality
Personality is just as important as the person fitting the job description. They need to be able to fit in with the company dynamic and they also need to feel like they are right for the company. If you’ve got someone that’s lacking in the company’s type of personality or doesn’t fit right, then it can cause problems with the rest of that staff and how overall atmosphere. So when it comes to hiring, be sure to get to know the person you’re interviewing, who they are, and what they enjoy outside of the workplace.
Introduce Existing Staff
Your current staff plays an important role of the hiring process because like mentioned above, the person you’re recruiting has to suit the team. With that being said, it’s worth introducing your team or an existing member of staff to the final few you’re interviewing. This can help to understand whether they’ll fit in properly and what the existing staff thinks of the individuals on a personal level. You don’t need to agree with their thoughts, but they are there to help come to the right decision overall.
Hiring in a business can be a challenge, and so it’s important to take it seriously and be detailed in your search.
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The Coronavirus aid package, known formally as the CARES act, was passed by the American government in an effort to help alleviate the economic impacts of the COVID-19 pandemic on small business owners and families. With all of the economic uncertainty caused by the pandemic, families and individuals should seriously consider taking advantage of all available resources to avoid long-term personal and professional consequences. Get started by reading on to find out about three of the most important things about the coronavirus aid package.
Small Businesses Can Get Low-Interest Loans
The CARES act makes provisions for the Small Business Administration (SBA) to provide cash-flow assistance to businesses with fewer than 500 employees in the form of low-interest loans. These loans are provided by banks, but they’re guaranteed by the SBA. To get a loan, businesses must meet eligibility criteria, find an approved SBA 7(a) lender, and apply for the program before funding runs out. The best way to get started is to find information online at bswllc.com about CARES act loan consulting for small business owners.
The loans provided through the CARES act Paycheck Protection Program are specifically designed to help small businesses weather the storm of COVID-19. They can be used to cover things like payroll costs, paid sick leave, health insurance premiums, mortgage payments, and more. Eligible borrowers include not just small businesses, but also 501(c)(3) tax-exempt non-profits, registered veterans organizations, sole proprietors, tribal businesses, independent contractors, and the self-employed.
Coronavirus Relief Loans Are Partially Forgivable
When the loans are used to pay employee wages after businesses are partially or fully suspended or gross income declines by more than 50% in comparison to last year, the loans are partially forgivable. Eligible businesses with less than 100 full-time employees can get partial loan forgiveness regardless of whether they have been subject to shut-down orders.
If borrowers follow all the regulations laid out in the CARES act for how the loans can be used, they will be eligible for forgiveness of the money spent not just on payroll costs, but also rent, utilities, interest payments, and mortgages taken out before February 15, 2020. Since the SBA is guaranteeing the loans through private lenders, it is up to the discretion of the lender to determine forgiveness. The timeframe for forgiveness by lenders is currently 60 days from the borrower’s request.
Borrowers must provide documentation of how the money was spent to prove that the loan was used for approved purposes. This documentation must verify how many full-time equivalent employees are on the company’s payroll, how much they were paid, and how much the business spent on mortgage or lease obligations, utility payments, or other debt obligations. Lenders can request additional documentation if they deem it necessary to verify that the borrower’s expenses qualify for loan forgiveness.
Businesses that lay off employees or reduce their wages during the covered period of eight weeks from the time of taking out the loan will have the amount of forgiveness reduced. Employers who reduced payroll or employee headcounts between February 15 and April 26 can reinstate their former employee payrolls by June 30 to restore their ability to request loan forgiveness.
The CARES act also makes provisions for a refundable payroll tax credit. Employers who keep their workers on the payroll even if they can’t work full-time, or at all, can expect the program to cover 50% of their wages during the COVID-19 crisis. The credit will cover wages paid from March 13 to December 31 of this year up to $10,000 per eligible employee.
Student Loan Borrowers Get a Reprieve
Business owners aren’t the only ones who have benefited from the CARES act. In addition to the paycheck protection program, it also stipulates that student loan borrowers will not have to make payments on the federal loans until September 30. During this relief period, student loan payments will be fully deferred, and no interest will be accrued on the accounts.
There’s even more good news for borrowers whose loans are in rehabilitation. For every month that the loans are suspended due to the COVID-19 pandemic, the suspended payment will count as if the borrower had made the payment. This avoids disruptions to former students’ loan forgiveness obligations and reduces the burden on borrowers who are rehabilitating their federal student loans.
Borrowers with eligible student loans don’t have to do anything to take advantage of this program. They can simply stop paying their loans without incurring any fees or additional interest. Those who choose to continue paying their loans will also benefit since 100% of the payments will go to paying down their principal balances during this time.
Borrowers who have defaulted on their student loans will not have their wages garnished during the relief period. If they have experienced wage garnishments since March 13, borrowers can contact their employers to request that any funds sent to the Department of Education during this time be returned. Borrowers whose 2019 tax refunds or Social Security payments were withheld to pay off defaulted student loans can also have their refunds returned provided the process for withholding it was completed after March 13.
The CARES act also makes a provision for employers who pay down student loans as part of their employee benefits packages. These employers can now contribute up to $5,250 through the rest of 2020 tax-free, which benefits both employers and employees.
The Bottom Line
It can be difficult for business owners and consumers to sort out all the provisions of the CARES act by themselves. The best thing for those with questions about eligibility or the application process to do is to contact an accountant who can help them better understand what assistance is available during these trying times. The pandemic has changed everything about life in America and across the world, but it shouldn’t mean that business owners and families wind up suffering needlessly. Don’t be afraid to take advantage of the CARES act provisions for protecting America’s workers, but make sure to consult an expert before taking out an SBA-guaranteed loan to ensure eligibility and clarify requirements.
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All businesses cost money to run and involve necessary expenses such as employee salaries, office overheads, and supply costs. While some expenses are unavoidable, there are various ways to cut your business costs and save more each month. Becoming more financially aware and identifying ways to lower costs will boost your bottom line and provide you with more cash to invest in core areas of your company. With this in mind, here are some effective ways to cut your business expenses:
Reduce staff turnover
Recruitment is a significant expense for businesses, and many companies invest heavily in their recruitment strategies to attract the best candidates. Recruitment costs increase significantly when you have a high staff turnover rate, as you will have to invest resources in advertising job openings, vetting applicants, and training new employees. High staff turnover will also cause disruption in your business, which is likely to harm productivity and overall revenue potential. The current job market favors candidates, and research shows that there are currently more job openings than hires. With this in mind, it is more important than ever for employers to keep their teams happy and take steps to retain their skilled employees. You can minimize staff turnover by offering competitive pay and benefits, praising your staff for their work, and offering regular career advancement opportunities.
Lower your office costs
Your office overheads are likely to be your biggest business expense. Reducing your office costs can be a reliable way to cut your business expenses and boost your bottom line. Luckily, there are several thrifty ways to lower office costs. Here are a few ideas:
Move your office to a more affordable area:commercial properties tend to be cheaper when they are located on the outskirts of city centers.
Relocate to a smaller office space that offers a lower monthly rent.
Reduce the number of employees in the workplace by offering flexible and remote working. This should cut your office overheads and can also be an effective strategy to boost office morale and employee engagement.
Encourage green habits in the office, i.e., switch lights off during the day and have all equipment on the more eco-friendly setting. Switching to more sustainable workplace practices will reduce your company’s carbon footprint and cut your monthly utility bills.
The majority of businesses make wholesale supply purchases. Negotiating lower deals on supplies can make a dramatic difference to your monthly expenses, especially if you make wholesale purchases on a frequent basis. Make sure you shop around to find the best-value wholesale distributors. If you want to target proven fast-moving products, consider selling wholesale cups & mugs. You should always speak with your current supplier before switching, as they may be prepared to match the lower rate. This will allow you to avoid any unnecessary hassle and reduce the risks involved with switching suppliers. You may also be able to instantly reduce your business expenses by finding better energy rates. Switching to a new business energy provider could save you up to 30% and takes just 5 minutes.
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The safety of truck drivers and the safety of other drivers on the road are of primary importance. Being a successful truck driver does not start and end with you obtaining your CDL. Driving safely is easier said than done. Staying safe on the road, especially during harsh weather conditions can be hard even if you take the Illinois car permit test. To drive professionally, you will need a great deal of skill, since truck driving carries a lot of duties for the safety of others on the road. Being safe is what will keep you alive every time you are confronted with the anxious moments when you are behind the wheel.
Truck Driving Safety Tips
What are you shipping?
Sometimes, you will be called on to haul hazardous goods; in that case, it is significant to know what you are hauling. Any element that is considered to have a threat to people and the environment is considered as hazardous materials. For example, when you are shipping lithium ion batteries, there are things you must know. The hazardous materials should be marked in English; you must have some training, including general awareness and acquaintance with hazardous materials. It is vital that you know your responsibility as a carrier to safely and securely transport dangerous goods.
Wear your seat belt
Truckers can overcome accidents; however, that should not be an excuse for not using their seat belts. As a matter of fact, all truck drivers and passengers are required by law to wear seat belts. According to the NHTSA, the safest choice that a driver and the passengers can make is to fasten their seatbelts. Buckling up helps you stay safe inside your truck, not buckling up can end to you being ejected from your vehicle in the event of an accident. Always follow the seat belt guidelines to maintain your safety and other road users’.
Eat healthy on the Go
The big challenge with motorists who want to eat healthy meals is getting over the usual high-calorie cost to find a low-priced but healthy food variety while out on the road. Moreover, a healthier diet and enough rest will keep you more attentive on the road. Ensure that you get enough sleep and pull-over whenever you feel tired. Most grocery stores have ample parking for trailers, although you will have to walk a bit. Grab a light grub, stretch your legs, and take a nap. Avoid junks like sugary drinks and don’t consume heavy meals; they can trigger drowsiness. Instead, opt for healthy alternatives that can keep you alert on the road.
Keep lane changes at the minimum
To be safe on the road, you need adequate space all around your truck. In case something goes wrong, space gives you enough time to take action. Commercial vehicles are typically broad and can take up most of the lane. Here, the truck crash attorney and experts at fasigbrooks.com say, minor negligence can lead to horrifying accidents taking a toll on one’s health or life. Therefore, one must remain in his/her lane throughout the travel or leave enough space for other vehicles to move safely. However, if you are a safe driver, you will manage the little space you have by keeping your truck fixed in the lane and avoid driving on the edges. It is advisable to pick a lane and stay on it; however, if it is necessary that you change lanes, move very carefully, beware of blind spots, and frequently check your side mirrors.
Adjust for bad weather
There are some areas that are known for having unpredictable weather; however, you should try and keep track of changes and avoid hazardous road conditions as much as possible. Changing climate and poor road conditions impact commercial trucks more than passenger vehicles. Road conditions are not within your control; however, there are numerous sources that can help you keep up with the weather and road conditions. Commercial trucks usually need a lengthier stopping space, so cut your haste by one third on damp roads and by one half on frosty or snowy roads.
Additionally, take your time to maneuver on poor road weather and allow your blinker to run for five blinks before you change lanes.
Watch out for blind spots
The typical ‘no zones’ include
Straight behind your truck
Just behind the side mirrors
Off to the side just in from of the cab
Motorists who are not aware of these blind spots may drive dangerously close to one another. This can be very annoying, but it is up to you to exercise caution before turning or even changing lanes. Also, make sure that you are maintaining a safe distance between you and other motorists.
Avoid distracted driving
Distracted driving is one of the leading causes of accidents on the road. Distractions can be categorized into three types, namely;
Manual
Cognitive
Visual
Nowadays, the most common type of distraction comes from mobile phones and other technological devices. The probability of causing an accident when using a cell phone is four times higher. The risk increases significantly, considering the amount of time cell phone usage can occur during a drive, especially when it is a long one. Using voice-activated or one-touch dialing is the best way to avoid cell phone distraction while driving.
Always beware of your trailer
The typical trailer is about 70 feet long; hence, you must beware of the trailer whenever you are making turns or changing lanes. Before changing lanes or making a turn, make sure that your mirrors are fixed and turn-on signal for three seconds and then take seven seconds to make a lane change.
Safety Tips for When You Arrive
Don’t stop following the safety tips just because you are hauling into a truck corner. Things can go wrong even when you are packing. Make sure to follow your path and examine your endpoint. Inspect your truck even after packing and unload the cargo wisely. After unloading your vehicle, inspect your truck and report any faults and lock the doors.
Bottom Line
Trucking comes with its own way of life, and it is not just an ordinary career. The long hours and the lengthy drives can take its fee. However, if you follow the above safety tips, you will return home in one piece to your family every time.
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Your business may be getting by currently, but it doesn’t mean you’ll be able to achieve or sustain long-term success. The reality is that nothing is promised to you, and you must stay ahead of the game and curve if you’re going to be able to retain customers and win over new ones. To do so, you must focus on ways you can constantly be improving your business and getting ahead.
As the business owner and leader, it’s your job to put measures in place that help you to achieve and exceed your goals and customer expectations. You want to make forward progress before it’s too late, and all your hard work becomes irrelevant. Now is the time to step up and take control of your business and figure out what you can be doing to excel and win over more customers.
Revisit Your Goals
You can be constantly improving your business by revisiting your goals often. Although you have a good idea about what you want to accomplish in the next few years, it doesn’t mean that the information is set in stone. Evaluate the situation regularly and determine what’s working and where the gaps exist so you can make necessary adjustments to your plan. Remain flexible and adaptable so that you can modify your approach and management style based on what you’re observing around you. Make amendments that will help you reach your goals at a quicker rate and keep you from wasting precious time and resources.
Train Your Employees
Improve your business by investing in your employees and their futures with your company. You have to communicate expectations early on and set them up for success if you’re going to get the performance results you desire. It’s in your best interest to train your employees and get them all on the same page and up to speed with recommended business processes. Make your training events such as employee onboardings, software training, and corporate learning events more successful by using an iPad rental service. Each person will have their own technology device to use and will be more engaged in the educational programming you’re offering this way.
Gather Feedback
It’s easy to make quick judgments and assumptions in the workplace, but this may cause you more problems in the long run. Instead, constantly be improving your business by collecting feedback from employees and clients frequently. It’ll help you to make better decisions based on data and facts instead of you playing guessing games. You may find that some areas need your attention that you thought were going smoothly. Gathering this information will provide you with valuable insights into what you should be focusing on as you strive to make improvements at your company.
Follow Industry News & Updates
Another way to be constantly improving your business is to follow industry news and updates. Knowing what’s going on with your target audience and niche will help you to adapt and roll out better products and services. Understand how your industry is changing and evolving and what impact technology is having on your business. Take the time to read relevant blogs and follow thought leaders on social media so that important information doesn’t pass you by. You’re going to be able to predict future trends better with this knowledge and impress customers with your agility and ability to innovate.
Be Open to Learning
When you improve your skills, your business will also improve. If you become too comfortable and stagnant as a boss and leader, then you risk your business following in your footsteps. Therefore, be open to learning and working on becoming more knowledgeable in areas that are unfamiliar and challenging for you. Take online courses, attend seminars, and converse with other business leaders so you can advance your skill set. You’ll want to not only educate yourself but also implement what you learn at your workplace so you can make impactful changes to your current approach. Remain curious and inquisitive so that you’re always taking new information in and can avoid assuming you know it all.
Evaluate the Competition
Your competitors are going to be right at your heels, just waiting for you to make mistakes and take a wrong turn. They want to steal customers away from you and make sure they’re number one. Therefore, it’s in your best interest to evaluate the competition regularly if you want to be constantly improving your business. Focus on identifying where they’re falling short and figuring out how you can step in and offer solutions to problems that they aren’t currently solving. Learn from their mistakes and build off of their successes so you can stand above and apart from your competitors.
Address what’s Broken
Looking the other way and ignoring significant problem areas your business is facing will only backfire on you. Your employees must have the tools and resources they need to perform their jobs so they aren’t always fighting an uphill battle. You can constantly be improving your business by addressing and fixing what’s broken. Be a good listener and hear what your employees and clients are saying and what their pain points are so you can deal with the situation. Although there may be a mess to untangle, your hard work to rectify the situation will help move your business forward in the right direction.
Find A Mentor
Constantly be improving your business by finding a mentor who you can rely on for advice and input. Use this person as a sounding board and try to understand the reasoning behind their recommendations so you can apply the lessons you’re learning in the future. You’re going to have questions and issues that arise along the way, and it’ll be helpful to have someone you trust in your corner that you can bounce ideas off of as you go. Learn from their past mistakes and experiences so you can avoid these same mishaps at your workplace. A mentor is a helpful observer and will be able to objectively tell you what you’re doing right and what may be holding you back from achieving a higher level of success.
Take Calculated Risks
No one in business ever made it too far without diving into unknown waters and taking a chance. Improve your business by getting away from the business as usual mentality and instead taking calculated risks based on your problem-solving skills. Sometimes you have to step outside your comfort zone and do what’s not so easy if you want to make a true difference in the business world. You want to feel comfortable moving forward with your decision and also have a backup plan in place if you should fail or begin to struggle. The good news is that if you’re right, taking a risk may be the best choice you ever made for your company.
Conclusion
Being able to improve your business around the clock may require a lot of hard work and effort on your part but the rewards that come with it can be priceless. You risk falling behind and becoming irrelevant if you aren’t willing to take chances and make changes as a business owner. You can’t rely on what you’ve always done to get you to the next level. It takes a commitment and you dedicating yourself fully to overcoming obstacles and staying the course even when you stumble and fall or have setbacks. Believe in yourself and give yourself the benefit of the doubt so that you can turn your business around for the better and make impactful improvements.
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Hiring staff is important and relevant to any business. How much of it depends on what you need for your business. Too many staff and you run the risk of being financially vulnerable, too few, and you restrict the ability to grow and thrive. Here are some tips for hiring in a business.
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