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Is Your Onboarding Process Up To Scratch?

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StrategyDriven Managing Your People Article |Onboarding Process|Is Your Onboarding Process Up To Scratch?The happiness of your staff is important, and making sure that they feel settled, happy and valued from day one is a must for your business.

The onboarding process for new starters is something that can affect your turnover and many other elements – get it right, and employees will say great things about your business. Get it wrong, however, and you’ll not only affect that particular employee’s experience, but it could also lead to negative word of mouth what will deter future candidates from applying to your company.

Is your onboarding process up to scratch? Perhaps it’s time to reconsider ready for your next new starter.

Why the onboarding process matters

While most people have suffered from a poor onboarding process at some point in their career, it isn’t something that has to happen. A study on the state of the American workplace revealed that 70% of workers did not feel engaged at work, a statistic that should cause concern for most business. When employees feel disengaged, they’re likely to feel undervalued and unsatisfied with their roles, and more likely to accept a position elsewhere. Feeling engaged from the outset is important for new starters, and will help to make sure that they start their new role feeling confident that they know their place and are receiving effective management.

Onboarding begins before the first day

While an employee doesn’t technically work for you until their first day, there are some things you can do to help make the process easier in advance of their start date. An invitation to a welcome lunch is a great way to ease a new starter in and allows them to get to know some key people before they start work. You can also provide them with some literature that will help them get to understand the company a bit better and help them feel more prepared for their first day. It’s quite rare for companies to carry out any early onboarding, so your business can get ahead of the curve by making a part of your process going forward.

Making that first day a success

Effective onboarding will make sure your new employee is left wowed rather than worried. You can make a new starter’s first day a success by making sure they’ve got a prepared itinerary that includes a tour, meet and greets, and a nice social event like a team breakfast or lunch, you’ll already be getting their day off to a great start. Speak to your current employees about things that would’ve made their first say better and try to implement their comments as much as you can.

Help them settle in

There’s nothing worse than being sat in a new office with nothing to do. New employees left to their own devices can feel nervous and disheartened – they’re there to work after all! Giving your new starter some tasks to get on with can help them start to settle and get to grips with their new role. Put together an onboarding checklist that includes some small, manageable tasks to help keep your new recruit busy while also getting a feel of the office. This can help them prepare for their role and ensures they get the opportunity to ask questions along the way.

Touch base regularly

The first few days and weeks of a new job can be a lot to take in for a new starter. While they might be showing a smile on the outside, things might not be so rosy on the inside. It’s important that you meet with your new employee regularly to find out how they’re getting on and how things can be improved. Many businesses are using onboarding surveys as a way to get authentic feedback about the onboarding process and can help improve things going forward. New employees will form their impressions of an employer quickly, so you’ll want to do everything you can to make that first impression a great one.

If you’re looking to recruit the highest quality staff for your business, you need to nail your onboarding process. By engaging employees from the moment they set foot in your door, you stand a better chance of establishing company loyalty and making your staff feel welcomed and valued. New starters can breathe fresh life into your business, but that will soon disappear if you don’t give them the welcome they deserve. Work on your onboarding process and help boost the reputation of your business as a top employer.

Why You May Need Street Furniture For Your Business

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StrategyDriven Managing Your Business Article |Street Furniture|Why You May Need Street Furniture For Your BusinessThe benefits of street furniture for business environments are countless, being a necessity from both a practical and aesthetic perspective. From timber bollards to control access of vehicles to cycle shelters to offer a secure place for bicycles, the addition of street furniture on your commercial grounds can go a long way when it comes to both security and convenience for visitors. By creating a welcoming space with sufficient security measures, this will lead to positive reflections on your brand which make it a place that people will want to return to.

Encourage interaction

Providing an outdoor space for people to enjoy holds some great benefits, creating an area to rest, socialise and unwind whilst getting some fresh air. Whether it is a space for visitors to your business enjoy or an area for employees to use when on their breaks, the mood bosting impact of socialising can go a long way. By allowing people to enjoy the area stay on your site for longer, the prospect of visiting again in the future is much more appealing.

Keep efficiency to a maximum

The more structured your business grounds, the more efficient the processes will be able to run. With a clear flow of traffic being directed through the site and allocated pedestrian areas, the risk of accidents will be reduced and visitors will clearly know where to head. By having allocated areas for seating, smoking and bike stands, the layout of your site will be effective for everyone and ensure the space is kept organised at all times.

Create a clear brand identity

Your commercial grounds are a reflection of your brand as a whole. By creating a tidy space with good organisation, you are promoting your positive reputation to any visitors to the site and ensuring everything runs smoothly. By adding your branding to any street furniture, it can act as a promotional tool as people subconsciously take in the colours, messaging and any designs they come across.

An experience to remember

The more original your space is, the more likely it is to be remembered. By investing into aesthetic street furniture and opting for bold architectural designs that step outside of the box, you are showing visitors how you are different to the rest and creating an experience that is one to remember. Whether you opt for a geometric design with bold steel features or a cosy feel with traditional features, show your brand personality both indoors and outdoors.

Everything a visitor could possibly need

Keep people on your site for longer by providing everything they will need for a positive experience. From sufficient spaces to park or a secure space to store bicycles to plenty of litter bins and rest areas, think from the perspective of a visitor to tick all of the boxes. Creating a space where people feel comfortable and welcomed can go a long way for businesses, creating a community feel and encouraging them to come back in the future.

What Are the Benefits of Electronic Payment Systems for Business?

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StrategyDriven Managing Your Finance Article |Electronic Payment Systems|What Are the Benefits of Electronic Payment Systems for Business?An eCommerce payment system is also known as an electronic payment system, which is a digital transaction or paying for goods using electronic medium and eliminating the requirements of cash and checks. An electronic payment system is a globally popular payment technique due to the continuous usage of internet-based activities like baking, shopping, etc.

Modes of Electronic Payment

There are several online payment methods, such as smart cards, electronic wallet bank transfers, credit cards, bitcoin wallets, etc. In contrast, e-payment is classified into two categories, i.e., credit payment system, and cash payment system.

There are several online payment methods offered by companies like cardknox, such as smart cards, electronic wallet bank transfers, credit cards, bitcoin wallets, etc. In contrast, e-payment is classified into two categories, i.e., credit payment system, and cash payment system.

Credit Payment System

  • Credit cards; according to branding services UK, the credit card is the most primary form of e-payment system used by billions of people; in this mode, financial institutes provide a card to the account holder for making payments online through electronic devices.
  • E-wallets are also one of the leading techniques of online transactions in which a prepaid account holds user financial data used to make payment.
  • Smart card; smartcard is an advanced technology of transaction known as integrated circuit card or chip card (ICC or CC), which have a microprocessor to store money deducted when online transactions happen using that card.

Cash Payment System

  • Direct debit is a mode in which the account holder allows the bank to pay the amount from his bank account electronically.
  • E-check; e-check is one of the most valuable digital transactions of money from an account for paying for goods eliminating paper checks.
  • E-cash; in this method, a specific amount is saved on the customer’s device for accessible online transactions.
  • Stored-value card; stored cards are used by many well-known companies and businesses known as gift cards, in which a card with a certain amount is used for the transaction.

Benefits of Electronic Payment System for Business

In the globalized world where technology is constantly evolving and developing, around 3.8 billion consumers use the internet actively has changed business dynamics.

According to branding services in the UK, the continuous advancement of technology has changed the traditional payment system into an electronic payment system that can grow business efficiently. With the revolution of the electronic payment system as they are easy and straightforward for making payments. Moreover, they have eliminated the requirements of going to banks for transactions and other activities. Here are few benefits of an electronic payment system for business.

1. Instant Payments

Life has been chaotic where everyone struggles with work, relationships, finance, health, and many other things. The traditional method is a hectic and stressful process as they are often a slow and time-taken process. The electronic payment system eliminates chaos as they are faster and straightforward, like credit cards, e-cash, etc.

Electronic payments can be made through an electronic payment app from anywhere by deducting the need to go to banks by saving time and energy.

2. Higher Payment Security

With the expansion of businesses into the online world, one of the most significant concerns of any firm is security. Payment security is the prime need of a company to protect client’s data and information from frauds and other issues.
The electronic payment system is leading globally because of several reasons why security is one of the main reasons. It provides a higher level of payment security for clients by offering multiple encryptions, SSL, tokenization, etc. Clients don’t have to swipe cards again and again as they can save card details using One Time Password.

According to surveys, some organizations don’t utilize e-commerce payment technology and are stuck at traditional payment methods; that’s why they are having security issues and lack the opportunities to serve a higher number of consumers.

3. Better Convenience

Providing convenience to an audience is essential for business from that customer decides whether to engage with a company. According to experts, convenience is a vital aspect of growing a business, and electronic payments provide higher security; more importantly, they offer better conveniences to clients to achieve a better user experience.

It allows clients to purchase excellent using card facilities and paying later. Moreover, it doesn’t annoy consumers by sending several reminders and messages for payments and automatically collects the specific money as per rules.

4. Saves Processing Costs

Processing cost is a term of cost accounting used in manufacturing units for assigning and collecting cost. It takes the total cost of the process and averages it over the branches of production. For instance, when you offer payment service to clients, you need a card processor; and that processor allows payment transaction in exchange, it will charge an expensive cost value.

But electronic payment does not charge expensive cost values; you have to pay a fixed subscription according to the agreements and rules to your service provider.

5. Low Risk Of Theft

In the modern era of technology, business dynamics are swiftly changing; according to statistics, money is the lifeline of a business. The capital is essential for the company and day-to-day life. However, using cash for accepting payments is quite risky and against safety. As the crime rate is gradually increasing, several chances of getting stolen and even depositing money in a bank account are pretty unsafe.

Using an electronic payment system reduces the risk of theft by providing safe and secure payment transactions. Moreover, it gives all transaction records by the end of the day.

6. Transparent

According to branding services in the UK, transparency is an essential factor for a business; consumers are more concerned about their privacy and are willing to protect it. A study found that over 50% of consumers would switch companies simply because of their data policies or data sharing practices, which fail to secure consumer data. They will lose the interest of their customers and lead them to find another company where they feel more secure sharing their personal information.
That’s why the electronic payment system provides transparency by offering you details of transactions for a better user experience.

7. Contactless

Due to the Covid-19 pandemic, people avoided human contact for safety; this increased the need for contactless payment transactions.

The electronic payment provides POS terminals and QR codes to avoid human contact; in this method, the payee holds a cellphone near the terminal, and the payment will automatically proceed.

8. Reduces Carbon Footprint

With eCommerce payments systems, the use of paperwork has been reduced, for instance, paper receipts. Modern payment technology offers digital equivalent to the clients by saving money on ink, paper, and printers.

9. Greater Revenue

Every business wants to achieve more significant revenue for business progress and development. According to the latest survey and reports, it has been proven that consumers spend more on buying products and services using e-payments and increases the rate of revenue for business progress.

10. Better User Experience

A business needs to attract customers by providing a better user experience. Electronic payment is the advanced technology that offers a better user experience in terms of a smooth transaction, removes obstacles from purchasing like long queues or a limited amount, no extra cost involved, and furthermore.

Conclusion

According to experts, cash transactions have been decreased due to electronic payment systems; that’s the potential reason that e-payment is considering as a leading facet of a successful payment infrastructure by offering several valuable advantages to clients to increase business progress.

5 Myths About Starting a Franchise Business Debunked

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StrategyDriven Entrepreneurship Article |Franchise Business|5 Myths About Starting a Franchise Business DebunkedThere’s no denying that you’ve got several routes into the world of commerce, and one of those is starting a franchised business. Many of today’s top everyday brands that you see on your travels are franchised organizations, so that’s proof alone they are a winning idea.

The thing is, some entrepreneurs feel like starting a local or regional company under the umbrella of a franchised brand is a bad idea. If you’re here today because you’ve had similar thoughts, take a look at these franchise business myths debunked:

Myth #1: Franchises Are Only in a Few Industries

When you start a business, you want to do so because you have brilliant ideas for products and services in a specific niche that you think will be very successful. With that in mind, you might assume that franchises aren’t available in your niche industry.

The truth is, you’ll find franchise opportunities available in virtually all industries and sectors. For example, you could launch a franchised top senior referral business to provide elder care services under an established franchise brand.

Myth #2: Franchises Will Make You Go Bankrupt

Another myth some entrepreneurs have about franchises is they assume you need to pay high upfront fees followed by hefty regular payments. Again, the truth is different from the misconception!

Most franchises offer a low-cost route to starting the business, and the franchisers don’t “tax” franchisees with eye-watering regular licensing fees. There are plenty of franchise opportunities out there, so you’ll find out that offers the best deal for you.

Myth #3: You Have No Freedom

Decent franchise opportunities only lay down the basic framework for the deal. Typically, you’d need to brand your business in the same way as the franchisor and use their corporate colors for all marketing and literature.

Apart from that, franchisees typically have lots of room to add their individual touches and make the brand memorable in the area they wish to cover. Plus, you have complete control over who you hire and fire and the day-to-day managerial decisions you need to make.

Myth #4: You Can’t Set Up a Part-Time Franchise

Why not? Did you know that many people set up businesses that they operate part-time and work in a regular 9-5 job the rest of the time? There’s no reason why you can’t set up a part-time franchise.

When you do more research into franchise opportunities, you’ll notice that the business model gets explicitly designed for people to start it on a part-time basis before committing to a full-time schedule as the brand grows in their areas.

Myth #5: Franchises Restrict Profit Potential

Lastly, it’s worth keeping in mind that franchise opportunities only lay out the ground rules for setting up a business using the franchisor’s branding. There are no restrictions on how much profit you can make in the business.
If you think about it, franchisors want you to make lots of profit because it helps them better promote their franchise ideas to other prospect franchisees like yourself!

How You Can Stand a Chance Against Your Big Brand Competitors

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StrategyDriven Entrepreneurship Article |Competitors|How You Can Stand a Chance Against Your Big Brand CompetitorsEntering the fray of the business world with your own name and plans can be a thrilling decision to make, especially when you feel like the service or product that you’re providing is something that you are genuinely proud of and excited to show people. The downside of this excitement is the inevitable anxiety that you may feel upon being faced with the reality of the market already being dominated by large, established brand names that you fear your potential customers will stick by no matter what you do to try and convince them otherwise.

While this is an understandable fear, it’s important to recognize the possible options you have as far as standing up to your competition. Having a quality service to offer is important, but it’s hard to draw in crowds of people just from that alone, unfortunately. You’ll need to make decisions to put yourself in the best possible position to be a cut above the rest. When you’re in the early days of your business, the decisions you make are important, and it’s good to know what you can do that will potentially save you a headache, and some money, further down the road.

Save Money in Key Areas

As well as using cost-effective platforms to market your services, for example, you might be looking for other ways that you can save money. After all, making such decisions can give your business every advantage it needs to survive in this competitive environment. Unfortunately, spending money is a reality of the trade and something that you’ll need to do a lot of the time if you hope to make any money back. The important thing, therefore, is learning where to cut costs. For example, you can compare your energy supplier to other options at businesscomparison.com and potentially find a cheaper alternative that can save you money on one of the business essentials, money that you can then spend elsewhere.

Find Your Target Audience

You are no doubt aware of how important marketing is to a business. That should come as no surprise to you. You’re likely already in the midst of making several marketing pushes that will hopefully take your business to more widespread knowledge. That being said, it can be difficult to know what form of marketing will be most effective for you. What can be important is finding your target audience and then working out (via research) what method is known to appeal most to that crowd, meaning you can then focus your efforts and save both time and money to hopefully yield more effective results.

One route that you might be interested in exploring if time and money are of concern to you is to take the well-traveled road of social media marketing, putting you on a cost-effective platform that gives you an easy connection to your potential customers. Social media marketing also has the distinct advantage of allowing your audience to open a dialogue with you, building up a sense of identity for your business and a relationship between the customer and company.