Time to Let Someone Go at Work? Here’s How to Do It Properly

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If it’s time to let someone go at work, you may be wondering how to drop the bombshell without creating chaos. Firing an employee is easier said than done, and in some cases, there is more than dignity at stake, so it’s important to tread carefully.

Aside from the obvious discomfort of firing your problem employee, letting him or her go too hastily could be detrimental to your business. Those who feel they were mistreated could take legal action, so you need to make sure you’re following the necessary steps to avoid ending up in court.

With this in mind, here are four tips to help you lay someone off at work without creating unnecessary conflict.

Give Your Employee Time

If you have to let someone go from your business, it shouldn’t come as a shock. You should have been providing the employee with feedback throughout his employment and giving him chances to improve. If someone gets fired out of the blue, he is more likely to want to take action for wrongful dismissal.

Similarly, you should give your employee time to attend the meeting. Don’t schedule it for first thing in the morning, but don’t wait until the end of the day either. If you’ve planned a meeting, your employee probably knows what’s coming, so give him time to prepare.

Be Private

Respect your employee’s privacy by keeping his colleagues in the dark about his departure, so he doesn’t feel like he’s been shunned from all sides. When it comes to letting him go, make sure you do it in a quiet space away from other workers and give him a chance to leave unnoticed. Whatever the circumstances, your employee has the right to retain his dignity.

Be Kind, Not Condescending

There’s no reason to belittle your employee, no matter why they’re leaving the business. In fact, talking down to someone in this situation could come back to haunt you later down the line. Ex-employees talk to competitors and potential clients, and you don’t want your name dragged through the dirt.

To avoid getting a reputation as a poor manager, try to deliver the news as kindly as possible without being condescending. Offer to help the employee find a new job by pointing him in the direction of a free resume builder or providing a reference. Your employee may be upset or angry when you first lay him off, but over time he will remember those small gestures and speak of you more favorably.

Focus on the Facts

Don’t make excuses or come across too personal. It’s entirely acceptable to fire someone because he doesn’t fit in with your business, so don’t feel like you have to lie about budget cuts or pressure from above. Be honest and tell him it’s not a good fit, and try not to stray into emotional territory. Have an HR representative present with all the required documentation to hand, and keep the meeting formal but friendly.

Firing an employee is no one’s favorite job, but it does need to be done from time-to-time. Approaching the situation with humility and care will make the process smoother for everyone involved, so be sure to follow these four steps.

How to Avoid a Business Data Breach

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It is difficult to deny the fact that there have been more catastrophic cases of data breaches in the last few years than ever before. The number of attacks and breaches continues to increase exponentially, despite the increasing awareness of better information security. Over 90% of business operations are now stored digitally, so this increase is not surprising.

What’s surprising is how so many businesses still take information security lightly. After the 2013 Yahoo data breach and the recent Equifax hack, operating without proper security measures in place is no longer acceptable. Here are the steps you can take to better prevent data breaches in your company.

A Better Structure

Gone are the days of pooling all information in one server and allowing everyone the same level of access. Thanks to better file management and new information security technologies, companies can implement a much more advanced structuring across their organization.

You start by organizing data into compartments based on the needs of the organization. A content management system or a more comprehensive Enterprise Resource Planning (ERP) solution can be used to manage not just operational data but also user access.

A better information structure allows you to manage access to sensitive information meticulously. Finance officers can only access information assigned to their department. Access to sales reports, for example, will require a special permission; this special permission can be granted on a temporary basis for better security.

The Right Measures

If you followed the full report on Yahoo’s data breach on TheBannerHerald.com, you should find it easy to see some of the prominent causes of that hack and how you can avoid them. The lack of sufficient security measures was to blame in this case (and many other cases).

There is no such thing as being too careful when it comes to protecting business information. A good way to start is by adding encryption for better file protection, followed by the use of SSL security to further secure data transmissions. Multiple redundancies, on the other hand, can act as additional layers of protection. These measures can block the majority of cyber attacks very effectively.

Having a comprehensive information security policy is also a must. The policy must dictate how sensitive data is to be handled, including internal and external transfers of files. Once a comprehensive policy is in place, it is time to tackle the third part of the equation.

Preventing Human Error

That third part is human error. There are many cases of information theft that started with a simple human error. The Equifax hack – one that left more than 140 million people exposed – is a good example.

Having a good policy and comprehensive security measures are not enough. The people within the organization must also understand and maintain information security best practices at all times. This includes setting strong passwords to prevent unauthorized access and not sharing that password, even with authorized parties.

The impact of a catastrophic data breach is, well, catastrophic. When Verizon discovered the data breach at Yahoo, the company lowered its offer by a whopping $1 billion. It is time to take a more serious approach to protecting the safety and smooth operations of your business in the digital age.

Is a Business Degree of Any Importance to an Entrepreneur or a Business Owner?

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Generally, when we discuss MBA courses, it usually involves looking at the degree from the perspective of a student who is looking to build a career. A question we do not typically address however is whether or not an online MBA degree would be the right choice for people who already have businesses of their own. What about the ones with significant knowledge and experience in their respective fields? Can they benefit from MBA programs? The answer is yes, entrepreneurs can indeed benefit from a business degree. To understand how that is actually applicable, go over the following points.

Understanding the Theory of Business Management

Even when you already have experience in running a business, you will learn more by studying and understanding the advanced concepts of business planning and management. If your business is successful, then you most definitely know what you are doing, but chances are that an MBA degree will help you to take your success even further. Studying Business Management Theory will help you to recognize gaps in your business planning and policy that you wouldn’t ever have noticed otherwise. It’s all about supplementing the existing knowledge and experience with formulated and established theories.

The Chance to Learn from the Best

AACSB online MBA courses usually have excellent faculty members and guest lecturers who are some of the most successful businessmen and entrepreneurs in their own fields. As they explain various parts of the course to their students and share their own life experience with them, it’s an opportunity of a lifetime to be able to learn from them. They might give you brand new perspective on things related to your business for improvement and progress.

Business Contacts

Your teachers and your peers are all your business contacts and in the near future, those contacts may turn out to be invaluable. You will likely find more than a few potential business partners and the necessary business recommendations while doing your MBA. As you already are a businessman, you will be able to make contacts and establish rapports easier because you are not looking to land a job, unlike almost everyone else in your class.

Security

Just in case you are a new entrepreneur who is still trying to make it, an MBA degree will provide you with a backup option, should the need to join a job ever arise. You can always go back to starting your own business after you manage to improve your financial standings, but an MBA from a good business school will enable you to land a job that will get you through the in-between stages.

These are the four prime factors which make an MBA degree extremely valuable to even established businessmen and rising entrepreneurs, but this is just an overview. There’s much more to it than this which you will learn during the course, but most of all, it’s all about learning how to grow what you have already.

Strategies for Certified Public Accountants to Grow Their Business

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As a business owner, you have a lot on your mind. There’s never a dull moment and if it’s not one fire you’re putting out, it’s another. That’s why you need a plan in place for managing your business and workload.

As a small business, you don’t have the luxury of calling upon a handful of employees to help you out. One area that’s always intriguing is how to expand your company. It’s important you have a solid foundation first before you try to develop further. See strategies for Certified Public Accountants (CPAs) to grow their business.

Networking

In order to grow your business you have to be willing to put yourself out there and meet new people. You want individuals in your company to know who you are and where your business is located. Be involved in the community and join organizations and clubs that keep you engaged with others. Attend networking events and conferences where you can meet new faces and share information about your business and services.

Training & Education

You need to have the proper training and knowledge in place before you start advertising additional services and growing. For example, there are IRS approved tax preparation courses that will help you gain more clients, and you’ll be included in the Directory of Federal Tax Return Preparers with credentials and select qualifications. You’ll be provided with crystal clear high definition video based courses that meet IRS standards and include the latest tax law updates and exceptional tax tips. This is a great opportunity to improve your skills and increase your knowledge on topics that will help you advance in your career and grow your business.

Social Media

Use social media and the Internet to target your specific audience and find customers who are going to benefit from your services. Open accounts on various platforms and create a company page with information about what you do and how you can help your clients. If you have the capacity, be available to answer customer service type questions online and post content that will help them better understand the industry and what they need to know as a taxpayer. Be open to advertising your business on social media and bringing in more clients through a digital media strategy.

Focus on Customer Service

A proven way to grow your business is to deliver exceptional customer service and, therefore, be awarded with referrals and recommendations from satisfied clients. Even though you may be a small operation, be sure to give each customer your undivided attention that they deserve. Be on time for meetings, return messages and fix issues promptly. Your customers need to be your number one focus, and then you can worry about expanding and growing your business. Take pride in knowing your clients are happy and continue to do business with you.

Conclusion

Use these tips for creating a plan to expand your company. Keeping your customers pleased is one area of your business that’s worth focusing on. Without them you aren’t going to get too far with your company. These are strategies for CPAs to grow their business.

4 Ways That Returning to Higher Education Can Change Your Life

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In life, it is never too late to make a change. The fact that you are heading down a certain path doesn’t mean that you have to keep moving in that direction. Instead, you can make decisions that will change your every day. One of the best ways to alter your future is by investing in your education. This will provide you with the opportunity to advance your career and improve your intellect. If you are searching for inspiration, you will need to read on. Below are four ways that returning to higher education can change your life.

It can help you to advance your career

Pursuing higher education doesn’t mean that you will have to give up your full-time employment. In fact, a new qualification could be the perfect way for you to advance in your career. For instance, if you are currently working as a nurse, you should explore a range of exciting nursing programs online. Not only is this an extremely affordable degree option, it is also a flexible program that is sure to complement your current lifestyle.

It can improve your self-confidence

If you struggle with your self-confidence, investing in further education is a great way to resolve this issue. Instead of focusing on what you can’t achieve, why not embrace a positive attitude? Setting yourself goals and seeing them into fruition will remind you that anything is possible. Furthermore, achieving a new qualification will help you to feel more confident at work. If you would usually shy away from the chance of promotion, your new qualification could be just the thing to help you step up to the plate. If you are determined to achieve success, self-confidence is key.

It can improve your earning power

In order to enjoy a bright future, it is vital that you are working towards financial security. Returning to higher education is an important step on this journey. One of the greatest benefits of investing in higher education is that your earning power will be improved. This will help to increase your career options for the future. Instead of putting up with your current wage packet, why not aim higher? Of course, you will have to spend money on your education, but you should try to look at this cost as an investment. It is extremely likely that your wise decision will pay off in the long run.

It can inspire the people around you

If you are raising a young family or are part of a particularly close group of friends, it is likely that your educational endeavors will act as inspiration to the people around you. It is extremely moving to watch somebody pursue their dreams, and it can lead you to question what you really want in life. Perhaps your loved ones will be encouraged to transform their own lives. Maybe they will invest in their own education and will use your story as motivation. Just imagine how proud you will be if your hard work has a positive effect on those around you.