Pros And Cons Of Using An Employee Engagement Platform

Employee engagement platform is one of the factors business owners create in order to make their business better. However, before creating one, it is imperative to know its pros and cons to allow business owners build the best engagement platform for their employees.

Advantages of employee engagement platform

High productivity – One of the main advantages of having an employee engagement platform is you can experience high productivity from employees. When using an engagement platform, you can help employees to become part of the policy making process. Because of this, they can increase their knowledge about the company which can help them to be more productive and reliable.

Efficiency at work – The next benefit of opting for employee engagement platforms is employees can become more efficient at work. Of course, giving employees responsibilities can give them a feeling of being trusted. Because of this, employees will become more efficient and reliable. Not to mention giving responsibilities can also help them improve their decision-making skills.

Innovation – By having employee engagement platform, employees can also become more innovative. Surely, having a good platform can help employees get a broader sense of perspective which also helps in increasing their creativity. Apart from that, when employees participate in these engagement platforms, they can create numerous ideas which can be used in making such platform more effective.

These are only some of the things business owners can attain by using an effective employee engagement platform. Sadly, there are still cases when business owners may experience some drawbacks in this platform. These include the following.

Disadvantages of employee engagement platform

Creating engagement plans can be costly – One of the drawbacks of using an engagement platform in your business is its costs. In order to create wonderful and effective employee engagement platform, it is imperative for business owners to invest in some of their money. However, some platforms are quite costly which can affect your profits.

Business security is at risk – Another issue that business owners may experience when using engagement platforms is taking a huge risk on your business security. This is possible since you are sharing valuable information to your employees which can increase the chances of getting information leaked. Thus, competitors can attain this information and use it into their advantage.

Messages turn into rumors – Lastly, messages can turn into rumors. Because of this, there are cases when messages are spread wrongly which can increase chaos in your work area. Not to mention, spreading wrong information can also affect business performance.

To avoid these issues, it is best to work with reliable experts. As of now, there are experts who provide effective employee engagement platforms that can make employees better and more efficient.

By: Chris Shiver – Info Source From www.personalgroup.com

Import Finance Experts Share A List Of The Different Payment Modes Used In Import And Export

Owners of import, export, and trading businesses have to know that there are various types of ways they can get paid. They can come through different channels as well. The speed and reliability at which they will receive their due will depend greatly on the payment method they have chosen as well.

 

Payment Modes Used In The Import And Export Business 

 

Experts in import finance explain below the most common types of payment methods used in the import and export industry:       

Telegraphic Transfer

Also known as TT, this is a way of remitting foreign payments through telegraphic transfer of funds to persons in foreign countries. They are electronic payments of cleared funds that are credited directly to a nominated bank account or financial institution where you can claim it. It is a fast and reliable way for making international payments almost anywhere in the world. Telegraphic transfer is one of the quickest methods of transmitting funds that involves no risk. This is because it involves payment of funds in the foreign centres on the same day as the receipt of domestic currency in the local centre. This means that no interest or capital risks are involved.

Bank Drafts

A bank draft, or demand draft, is a pay order issued by a bank for its own branch or correspondent bank abroad. The bank draft is handed over to the buyer who sends it to the beneficiary. The beneficiary receives payment on presentation of this demand draft to the bank on which the draft is drawn. Banks usually charge a commission for issuing a bank draft and direct the Branch Manager of that country to make payment for the specified amount in foreign exchange to the particular party or beneficiary.

Bank drafts are one of the most popular methods of remittances in the import and export industry. The most noteworthy disadvantage of remittance by draft is the risk of loss of the draft in transit and the transit delay in effecting payment to the beneficiary. 

Bill of Exchange

This payment method pertains to an order drawn by a person upon a bank or another person asking the latter to make payment to a third party. The bill of exchange is prepared by the exporter and sent to the place of importer through a commercial bank along with key documents.

There are two types of Foreign Bill of Exchange:

Ordinary or Clean Foreign Bill. Also called a Clean Foreign Bill of Exchange, this is an ordinary bill of exchange and drawn in case the exporter has sufficient confidence in the credit-worthiness of the importer.

Documentary Bill. A Documentary Bill is sent along with necessary documents to the title of the goods. They can either be documents against payment or documents against acceptance.

By Mary Wickett, a finance consultant, with resource info about import finance from http://www.business.hsbc.com.eg/en-gb/working-capital/productfamily/imports.

Benefits Of Providing A Total Rewards Statement For Your Employees

Plenty of companies are making significant investments in the benefits they want to give to their employees. Even if you are offering an attractive benefits package for your workers, it is still necessary for you to fully educate them about what is included in the package. Your organization might still be missing a relevant requirement, which is a total rewards statement.

Total Rewards Statement – What Is It?

A total rewards statement is a personalized document containing details about the overall value of the financial rewards of an employee – incentives, benefits and his/her base pay. It comes in paper or electronic form. Be reminded though that it won’t just show information regarding the pay an employee receives but also allow the employees to see their total rewards entitlement in one place. Every reward item will be explained comprehensively to make sure that items included in the package are fully understood.

Reasons For Providing A Total Rewards Statement For Employees

Awareness of their current employment package will be improved. Definitely, employees know the amount of pay they receive but oftentimes, they don’t know the overall value of their benefits. Apart from that, they might not also be aware of how these benefits were developed and selected to fit their specific needs. By sharing this information, employees will see very clearly how much they are appreciated in the organization.

Employee engagement will be increased. By knowing that their employer has taken the time as well as made an effort to come up with a very advantageous benefits package, employees certainly will be motivated to perform well. Also, they will be able to relate better with their superiors and colleagues.

The overall performance of the organization will be improved. If employees are happy, productivity will surely receive a healthy boost. Most importantly, company objectives will be met. By cultivating an open communication and a positive work environment, the organization will definitely yield and deliver great results.

Every organization today must consider looking into a great total rewards statement as this is regarded as a very crucial tool for keeping employees very much aware of the value they receive. This will also make them be fully engaged at their work. So contact an engagement team you can work with today. They will review your current rewards, choose the right advantages, as well as provide you with all the relevant resources that will allow your employees to get all the information they may need.

Source: www.personalgroup.com offers employee services in one place. They design your employee services programme around you to make your business happier and more productive.

Why Business Owners Opt For A Bank Letter Of Guarantee

Almost all business owners are struggling to have sufficient finances for their business. That is why some business owners look for financial options that can accommodate their needs. And, one of the best financial services financial institutions can provide to improve your budget is a bank letter of guarantee.

A bank letter of guarantee is a type of contract issued by a bank on behalf of a customer who has entered a contract to purchase goods from a supplier and promises to meet any financial obligations to the supplier in the event of default. A letter of guarantee may also be issued by a bank on behalf of a call writer guaranteeing that the writer owns the underlying asset and that the bank will deliver the underlying securities should the call be exercised.

Surely, there are other financial options business owners can choose from. But, most business owners prefer a bank letter of guarantee due to these reasons.

   

To protect buyers and sellers

One of the reasons business owners opt for a bank letter of guarantee is to protect both buyers and sellers from potential losses or damages. Since both buyers and sellers are protected, business owners can take this into advantage. This is possible since business owners can use this solution when they purchase materials for their products. Not to mention, when selling their finished goods, business owners can also benefit from a bank letter of guarantee. Because of this, buying and selling can be easier and safer.

To improve cash flow

When opting for a bank letter of guarantee, business owners can also improve their cash flow. Of course, there are seasons when businesses cannot obtain good profits. Therefore, business owners need to use some of their savings to continue their business. By using a bank letter of guarantee, business owners can improve their cash flow since they can make agreements with other companies on how and when they will pay. As a result, business owners can manage their finances properly which can help improve their finances.

To have better business opportunities

By using a bank letter of guarantee, business owners can also gain better business opportunities. This can be achieved since a bank letter of guarantee can be used for different industries. In addition, when having a bank letter of guarantee, companies are rest assured that your business has the ability to pay for their goods you are purchasing.

With all these wonderful features, business owners can improve their performance and reputation which can help them make their business more successful.

By: William Gomez – Info source from www.business.hsbc.ae/en-gb/managing-risk/productfamily/guarantees

Mistakes Owners Make when Opting For Gym Equipment Finance Options

Health is important for individuals. Thus, more and more individuals invest in items or services that can help improve their health like enrolling in for gym training programs. That is why some individuals start their own fitness gyms. But, starting a fitness gym can be expensive due to the numerous items you need to invest in. It gets even worse if you are working with the wrong gym equipment finance providers. To avoid this, below are some of the most common mistakes gym owners make.

Choosing new or inexperienced service providers

One of the most common mistakes gym owners make when looking for gym equipment finance options is opting for new or inexperienced companies. Surely, when looking for financing services, there are lots of companies that offer such solution. However, working with new or inexperienced companies can be a huge problem since there are cases when you may end up losing your business. This is possible since new or inexperienced financing companies do not have much knowledge on the niche which can affect your finances.

Neglecting agreements such as interest rates

The next mistake that most gym owners make is neglecting agreements. In order to have good deals, it is important that both borrower and lender have agreed on terms and conditions that will benefit both parties. Sadly, some gym owners neglect this factor. As a result, some companies that this into their advantage to gain better profits from your business.

Hiring companies that have slow approval processes

Another mistake that gym owners make with regard to choosing a gym finance option is opting for companies that have slow approval processes. In order to compete with other gyms, it is important that you start your business immediately. Unfortunately, some financing companies may affect your goal due to their slow approval processes. Because of this, potential clients will be looking for other gyms which can affect your profits.

Opting for financing options that can be used in limited assets

Finally, make sure that you look for finance options that can be used in numerous assets. Some financing companies only provide asset finance for traditional hard assets such as cars, commercial vans, tractors and fork trucks. With this, gym owners cannot use their finances to purchase gym equipment. So, it is imperative to look for financing companies that allow you to use finances in any business asset.

By knowing all these mistakes, gym owners can find a reliable finance option that can help make their business better and more profitable.

Source: Portman Asset Finance is a company that offers reliable financing options for numerous businesses to help them improve their profits and allow them to become more successful.

Things To Know About Import Loans

Money is a crucial factor that can break or make a business. Of course, there are numerous tasks business owners need to deal with wherein money must be used. For instance, when getting raw materials for your products, you need to pay for it. Apart from that, you also need to pay your employees. And, transportation of products must also be paid. Unfortunately, there are cases when business owners do not have sufficient finances which can affect their business. Luckily, there are some banking institutions that offer loans.

As of now, there are numerous types of loans business owners can choose from. And, one of the best types of loans that can help businesses is import loan. To help you learn more about import loan, below are some of the things you need to know.

How import loan works

An import loan is a service offered by banking institutions that provide you with short-term, trade-related working capital for your international purchases on a pre-shipment or post-shipment basis. Banking institutions will then pay your suppliers directly based on the invoice and transport documents.

The loan banking institutions will provide are given on a stand-alone basis for open-account transactions, or coupled with Documentary Credits or Bills for Collection where you have a post-shipment funding gap.

Key benefits

Just like any services, import loans can provide business owners with numerous benefits. Below are some of the following.

Import loans will allow the customers to gain more financial resources to clear goods from the port and manufacture, store or arrange for final sale to the end buyer.

The customer is able to reimburse the suppliers on a sight basis or when the tenor is due, which will increase the bargaining power of the customer.

Pay your suppliers more promptly to negotiate better terms.

Types of import loans

In order to attain the benefits mentioned above, it is important to opt for the right import loan. To make better decisions, below are some of the most common types of import loans.

Pre-Shipment Clean Import Loan – This type of import loan is available when you are trading on open account or documentary collections, and suitable where you need to finance the advance payment portion of a contract.

Loan against Import – This type of loan is available when you are trading under an Import Documentary Credit or Import Bill for Collection.

Clean Import Loan – This type of import loan is triggered by the receipt of an Import Documentary Credit or Import Bill for Collection or where you are transacting on open-account terms.

With all these, business owners can make better decisions when planning to get import loans.

By: Greg Sawyer – Info Source From www.business.hsbc.ae/en-gb/managing-risk/productfamily/imports

What Start-Up Entrepreneurs Should Know About Receivables Finance

There are certain businesses that would have a hard time collecting some of their receivables. Because of this difficult, a business will experience a state of arrested development or even a slump. In such instances, if a business could just already have the money owed them, they could finance any move for growth or expansion. There will be situations as well wherein a business fumbles operation because of waiting for the money they expect from receivables.

About Receivables Finance

One way businesses can avoid all the hassles of being cash poor due to their inability to collect expected receivables is by investing in a receivables finance solution.

Accounts receivable financing pertains to a financing arrangement or solution that will permit you to use your receivables, such as outstanding invoices or money owed you, as collateral. In this type or financing or banking solution, the financing or factoring company will give you an amount that is equal to a reduced value of the receivables you’re using as collateral.

Factoring and invoice discounting are the most commonly used products in this particular type of finance. These financing solutions can help a business unlock the money they are owed by their debtors and improve their cash flow position by converting their accounts receivables into cash.

This specific kind of financing can offer businesses several benefits. These include the following:
 

• Your business will enjoy a consistent flow of operation capital. Having this is critical to keep your business going. The invoice values are supposed to provide the cash that will enable your business to meet day to day requirements and obligations. By converting accounts receivables into cash, receivables finance can give you the opportunity to free up your capital that is otherwise stuck in unpaid debts and improve your cash flow in the process as well.

• Reliable professional collection assistance. With this type of financing solution, you’ll be working with a dedicated account manager right off and he or she will work hard to thoroughly understand the ins and outs of your business. Payments or collectibles will also be collected on your behalf by experienced collection agents. You can also keep track of everything online. This will allow you and your own staff to focus on other aspects of your business.

• Protection from buyer losses. Lastly, receivables financing often also provides a comprehensive credit checking service to improve your chances of growing your business. Because of this, you can guard your business against late payment and bad debt. The financing service will cover a hundred percent of losses on undisputed receivables to minimize the effect on profits and cash.

To learn more about receivables finance, click on this link.

Why Business Owners Work With Transportation Companies In Dubai

Transportation is an essential factor when running a business. Of course, with reliable transportation raw materials and products cannot be delivered properly to clients. In addition, inadequate transportation can also affect business reputation and profits. That is why business owners work with transportation companies. In Dubai, there are numerous companies to choose from which can provide you with a wide variety of services. Below are some of the following.

Provide safe handling and timely delivery

One of the main reasons business owners work with transportation companies in Dubai is they provide safe handling and timely delivery. These services are important in order to provide the best benefits for their clients. By safely handling products, business owners can cut down profit loss. On the other hand, timely delivery allows business owners to improve their reputation and to meet their clients’ needs easily.

Offers routing alternatives

The next reason why business owners work with transportation companies is they offer routing alternatives. Of course, mishaps and delays such as traffic can happen when transporting goods. Because of this, profits and reputations can be affected. Luckily, reliable transportation companies in Dubai can provide you with alternative routes to ensure that you can transport your products to your clients efficiently.

Wide selection of transportation vehicles

Apart from routing alternatives, transportation companies also have wide selection of transportation vehicles from car carriers, refrigerated trucks, side loaders for grounding containers, low beds and curtain-side trailers.  Working with companies with such ability allows business owners to opt for the right vehicle to transport their products. In addition, business owners can also opt for more affordable transportation options. Plus, vehicles offered by transportation companies are well-maintained to avoid delays and to ensure your products are safe.

Reliable IT systems

Lastly, transportation companies in Dubai also make use of reliable IT systems. In order to properly and accurately transport your business products, transportation companies have integrated IT systems on their processes. Because of this, transportation companies can provide you with real-time information about your products from its destination up to its delivery time. IT systems are also used to ensure that your items are properly stacked before the move to avoid product damages. As a result, business owners are rest assured that their products are transported safely.

With all these services, business owners can improve their profits and reputation easily that can help them achieve their goals.

Source: www.aflogistics.com/people-transportation.html is a website that features the services of a reliable transportation company in Dubai.

How Can Personal Risk Management Solutions Providers Help You

As of now, there are numerous investments individuals can choose from. However, the risks of these investment options are high. Because of this, it is best for individuals to work with reliable personal risk management solutions providers. With these experts, individuals can obtain the following services that can help them.

Supervise the conditions of your current portfolio

One of the main reasons individuals, most especially investors, need personal risk management solutions providers is to have experts who can supervise conditions in their current portfolio. This can help investors determine risks and other factors that can affect their current state. In addition, experts can also make plans which will allow individuals to gain better profits from their investments.

Set checkpoints in your portfolio

After assessing the current portfolio, risk management solutions providers will set checkpoints in your portfolio. These checkpoints are used to send special notifications when your portfolio reaches a certain level. As a result, investors can make decisions depending on their contract.

Help minimize risks

Finally, to attain better profits from your investments, experts can also provide you with other services to minimize risks which will depend on your agreement.

With all these services, investors can make better decisions that can help them improve their financial status properly and easily. Know more about personal risk management solutions on this site.

Health Benefits You Can Get From A Standing Desk Converter

These days, more and more people are using standing desks. Such preference for standing whilst working is indeed backed by extensive research.

Studies have revealed that people who often sit during the day are 54% more likely to die of a heart attack. They also become at risk of diabetes, cancers, and obesity. It is further emphasized that even you eat well and exercise, your body will still suffer if you sit most of the day.

The Importance Of Using A Standing Desk Converter

Quitting those stretches of chair time is among the best solution. But what if your job requires you to sit most of the day? Do you need to quit your job and look for something else that will require you to stand up instead?

There is no need for such. With a standing desk converter, otherwise known as a stand up desk converter, you can definitely address the problem. This innovation can actually increase productivity. Moreover, it is proven to promote better health and overall well-being.

A standing desk converter is an implement placed on top so your table can have a much higher surface, allowing you to stand up rather than sit while working. If you do not want to replace the one you are currently using, this can be your best solution. Be sure though to get the adjustable kind so you can easily set it up to exactly meet your height preference.

With this simple yet very effective solution, you do not have to fall victim to the risks and dangers associated with long hours of sitting.

How Can An MC In Dubai Cut Down Event Costs

Making events successful is very hard since you need to accomplish numerous tasks, from the planning to the designing and implementing. Other than that, you need to have sufficient finances in hiring third-party companies that offer services such as catering and MC. Luckily, an MC in Dubai can help you cut down event costs.

How?

An MC can make events more entertaining

Business owners hire an MC in order to make events more entertaining and successful. MCs also help business owners present services or products during events. Apart from presenting during events, an MC also entertains guests during events. Because of this, you can reduce the number of entertainers you need to hire for your event.

An MC can manage any type of event

There are numerous problems that may arise during your event. Because of this, you need to work with event organizers to deal with these problems. Luckily, there are some MCs who can manage any type of event. Because of this, you can cut down costs in hiring an organizer.

An MC can properly utilize any equipment during the event

When organizing corporate events, you need to make use of the best equipment in order for the MC to easily advertise your products or services. However, there are instances when business owners do not have the right equipment. Fortunately, MCs can properly utilize any equipment available during the event. As a result, you do not need to purchase or even hire event equipment like AV systems.

With all these, business owners can cut down their expenses which can help improve their profits. Know more about MC in Dubai on this site.

Tips In Choosing Tower Crane Hire Companies In Melbourne

Lifting, transporting, and moving are only some of the tasks workers need to do in a construction site. These tasks are important to ensure that all tasks are accomplished and done on time. However, there are some that must be accomplished by using machines and other tools.

When it comes to lifting and moving, one of the best machines workers need to use is tower cranes. These machines provide power and capability to move and lift materials with ease. Not to mention, tower cranes also offer a lot of benefits from reduced space requirements and even lower electrical noise. But, purchasing a tower crane is a huge investment that cannot be done by all construction companies. So, the best alternative is to look for providers of tower crane hire. Melbourne construction companies state that there are now numerous companies that offer such services. Hence, it is important to consider these tips when choosing.

Assess their reputation

One of the first things you need to do is to assess their reputation. This is important to ensure that all their tower cranes are safe and reliable. In addition, this can also help make sure that their services are insured which can also benefit your business. Apart from that, assessing their reputation can also help you make better decisions that can match your needs.

Check their machines

The next thing you need to do is to check their machines. Checking the machines is important to determine if the machine is working properly. This can also help you choose what type of crane must be used for your project. Luckily, reliable service providers have a vast selection of cranes that they can offer you.

Ask about their maintenance services

It is also essential for you to ask about their maintenance services. These services are important since all machines break down due to their age and usage. So, look for service providers who can offer you with maintenance services to ensure that your project will be on track.

Know their service rates

Lastly, you also need to know their rates before hiring tower cranes. This is essential since there are cases when some service providers have higher rates than others. On the other hand, some companies also provide better services than their competitors. So, it is essential to invest your time and effort to ask about their rates to help you find the ideal service provider who can help you achieve your goals.

With these simple tips, construction companies can improve their services and make their clients happy and satisfied. More about tower crane hire in Melbourne here..