8 Reasons Why Your Employees Are Leaving You

The reasons why an employee desires to leave may be obvious, such as wanting to pursue better opportunities or feeling underpaid. These reasons provide a better understanding of how you can improve your organization’s processes and recruitment strategies.

So, why do employees leave and what can you do to prevent a good employee from quitting?

#1: LACK OF APPRECIATION

Recognizing the efforts of employees can increase their motivation. When a company and its management ignore the employees’ accomplishments, they may seek value elsewhere. Implement a system that rewards quality output and efficient workers. Most employees are willing to go the extra mile when they feel valued by the company that they work for.

#2: FEELING UNDERPAID

With the uncertainties of the current situation, many Singaporeans seek stability. Salary is among the top reasons why employees depart from their previous employer. Offering competitive salaries and other benefits can prevent the employee from leaving a post. However, not every resignation is financial in nature. Uncovering other underlying factors can be necessary to retain an employee.

#3: LIMITED OPPORTUNITIES FOR GROWTH

Professionals have a potent desire to grow at a company. Who wants to remain stagnant, anyway? Recognizing the efforts and setting a clear career path can make the employees feel like they have a bright future in the organization.

Image Credits: pixabay.com

#4: MISMATCH BETWEEN THE ORGANIZATIONAL CULTURE AND THE EMPLOYEE

When you first arrived onboard, you were a perfect fit for the organization. As time passes, your goals and values no longer align with the organizational culture. This is a difficult situation to be in as the change needs to be addressed by several employees. Promoting open and honest communication in the workplace can bolster retention rates. Moreover, providing opportunities to interact outside of the office fosters a sense of camaraderie.

#5: LACK OF RESPECT

You are at risk of losing a good employee if he or she does not feel respected or trusted at work. Whether the employee feels disrespected by their boss or co-workers, the negative feelings can pile up. Employees can experience lack of respect in many ways ranging from written instances to sexual harassment. Prevent these issues by providing open channels for communication and exercising regular feedback.

#6: HAVING A HORRIBLE BOSS

A horrible boss can create a toxic environment for the employees. Many high performing workers quit their jobs because of their managers and not because of the job itself. Whether the manager is incompetent or is behaving badly towards the rest of the team, his presence can make or break an employee’s experience. Thus, training is essential. Ensure that the manager is given the tools to properly support their employees.

#7: DISCONNECT WITH THE COMPANY’S VALUES

If an employee no longer sees a connection between him and the company’s values, the employee can leave the organization. Do not sacrifice the company’s values for a result.

Image Credits: pixabay.com

#8: NO WORK-LIFE BALANCE

Last but not least, having no work-life balance can contribute to an employee’s burnout and eventual departure. At the end of the day, you must respect that your employees have lives outside of work. Providing an ample amount for rest and recovery can help improve the quality of one’s work.

Sources: 1 & 2

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5 Coolest Co-Working Spaces In Singapore

Fast-paced developments in technology and connectivity paved the way for the rise in online jobs and tasks, especially with our current flexible working conditions. If the distractions at home are too much to handle, try fulfilling your tasks in a co-working space.

You can access Singapore’s co-working spaces whether you are a freelancer, a startup, or a well-established company. Read the article to find a space that suits your budget and your needs.

#1: THE HIVE SINGAPORE

Operating at twenty fantastic co-working spaces across seven countries in Asia Pacific, the Hive is recognized as a boutique co-working network. Since its inception in 2012, it has expanded to other locations such as Thailand, Japan, and Singapore. Frequent jetsetters can reap the benefits of accessing all the locations through the Hive Passports. Prices start at S$30 for a Hot Desk Day Pass.

Image Credits: thehive.sg

Location: Various locations including the Hive Carpenter at 36 Carpenter St., Singapore 059915
Website: thehive.sg

#2: JUSTCO

As one of the largest co-working networks in Asia with multiple locations in Singapore, JustCo blends functional spaces to the community. It raises the platform by offering the entertainment factor. The breezy spaces include a gaming room, a well-stocked pantry, a snooze lounge, and a meditation corner. Feel free to relax after a long day of work!

Image Credits: justcoglobal.com/sg

JustDesk Basic Plan starts at S$98 per month. Sign-up for a free trial to experience its services.

Location: Various locations including Marina Square, Raffles Quay, Robinson Road, and MacDonald House
Website: justcoglobal.com/sg

#3: CLUBCO

Tucked away on Cross Street, ClubCo is a hidden gem waiting to be discovered. This modern co-working space fuses value-for-money membership plans with contemporary furniture. Anyone from consultants to occasional office workers can come inside to use their amenities such as high-speed Wi-Fi, smart TVs, private phone booth, photocopying machine, and complimentary beverages. Private meeting rooms of varied sizes are also available. What’s more? It’s conveniently located right beside the Raffles Place MRT, with a rooftop space where you can unwind.

Image Credits: clubco.sg

A Day Pass is worth S$40, which is available from Monday to Friday from 9 am to 6 pm.

Location: #04-00, The Quadrant, 19 Cecil Street, Singapore 049704
Website: clubco.sg

#4: THE GREAT ROOM

The Great Room opened its doors at One George Street in 2015. It is strategically located in the heart of Singapore’s financial and business district. Since then, The Great Room has opened four more spaces around the country among vibrant neighborhoods that brim with restaurants, shops, hotels, and wellness facilities.

Image Credits: thegreatroom.co

You see, The Great Room draws inspiration from the best hotel lobbies with its hospitality-inspired layout and highly functional spaces. The flattering lighting, decor, and furnishings make it conducive for ideas to thrive. Its options vary from a dedicated office to a business club. Be treated to something special with a Day Pass costing about S$70!

Location: Various locations including One George Street, Centennial Tower, and Ngee Ann City
Website: thegreatroom.co

#5: SPACES

From lively spaces to prime locations, Spaces has it all. What sets it apart from the rest is its flexible plans that you can tailor to suit your needs. For some plans, you could work at your desk at any time of the day. This is perfect for people who work remotely with global businesses.

Image Credits: spacesworks.com

The Co-working Membership fees start at S$178 for 5 days in a month.

Location: Various locations including Clarke Quay, City Hall, and Robinson
Website: spacesworks.com

Sources: 1 & 2

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Payday Loans: Advantages & Disadvantages

loan repayment plan

No one is protected from unplanned spending. Health problems, a broken smartphone, a child tore his only jacket…Situations may be different! But there is only one way out. We urgently need to get money somewhere. Not everyone has a relative or friend willing to shell out the required amount. We can only hope for the help of various financial organizations to get a payday loan. Here a choice arises: is it better to go to an MFI or a bank to get the long-awaited payday credit?

Often, potential borrowers do not see much difference between lenders offering payday loans. Let the principle of operation be the same but the conditions are very different. We talk about the advantages and disadvantages of a payday loan in microfinance organizations and understand when it is worth contacting them.

When Do You Need a Payday Loan?

Sometimes a difficult financial situation forces you to take risks and compromises. Despite the higher percentage compared to banks, MFOs are in demand among various segments of the population. There are microcredit organizations in every city with numerous corresponding online platforms, you can find one online using Moneyzap service. The secret of their popularity is simple: money is given immediately after applying if you want to deal with a payday loan online.

When there is no time to prepare documents and wait for approval from the bank, the decision to take a payday loan online looks quite justified. You will have to overpay for speed but a financial problem will be quickly resolved. Usually, online microfinance organizations take smaller amounts for payday loans than banks. This difference is due to different purposes of the appeal.

As a rule, bank credit is taken to improve the quality of life: the purchase of expensive equipment, repairs in an apartment, rest by purchasing a payday loan or a personal loan. A payday loan is needed to meet urgent needs in unforeseen situations. Delayed pay or an emergency like a broken tooth are the most common reasons for applying to an MFI for a payday loan online.

Payday Loan Online Advantages

There are many advantages when taking out a payday loan. The procedure of applying for a payday loan online is extremely simple and fast. It makes this type of lending the most attractive for a certain part of borrowers:

  • Contact at any time. Online services allow you to get a payday loan when you need it;
  • Money is issued around the clock;
  • The transfer will be sent to an electronic wallet or card. So, a personal visit to the office is not required;
  • No paperwork: the list of required documents is minimal. In most cases, a passport is enough to apply for a payday loan online;
  • You do not need to provide a certificate of income;
  • Instant registration of a payday loan online: the application is filled out and processed much faster than in banks. Money is transferred immediately after receiving approval. It often takes about 10 minutes to complete;
  • High approval rate. When it comes to small amounts, a positive answer comes up 98% of the time;
  • Banks impose more stringent requirements on their clients. Age restrictions and bad credit will become barriers to making money. Microcredit companies are more loyal to borrowers: the presence of minor delinquencies and a low score do not guarantee a failure.

Important to know: The timely repayment of the payday loan will improve the client’s profile. Repeated closure on time will allow you to get approval for a loan from the bank in the future.

Payday Loan Online Disadvantages

With all the obvious advantages, there are also enough disadvantages. Some of them lie on the surface, for example, at a high rate. And many do not even think about others although they should. In addition to the impressive overpayment, there are still many negative aspects when taking a payday loan. If you know about all of them, then the decision on choosing a lender will be as balanced as possible:

  • The rate is ten times higher than the bank rate. The fact is that MFIs indicate the percentage per day. Not everyone understands how much this will amount to in practice. Often borrowers are attracted by a rate of 1%, or even less when banks offer loans at 15%.

Advice: It’s important to understand the difference. A payday loan rate is annual. If you multiply the promised MFO 1% by the number of days in a year, you get an overpayment of 365% versus 10-15% in banks. Calculate the percentage taking into account the number of days of lending to estimate the real overpayment;

  • In a bank, you can take out insurance in case of illness or disability. MFOs do not provide this opportunity. Whatever happens, you have to pay;
  • Most MCCs do not offer gradual repayment options. If you do not pay the entire amount at a time, then penalties will be charged on it. Penalties are tougher than in banks. For the day of delay, you will have to pay about 10% of the loan;
  • Small amounts and terms of payday loans online.

What Experts Recommend About Payday Loans?

Financial literacy experts recommend that you approach loans with MFIs with caution and apply to them only when urgently needed. Expert advice will help you make the right decision. First of all, the client needs to have a clear understanding of how he or she plans to repay the loan to payday. If you add late payment interest to a high percentage, the amount of debt will be significant and will grow day by day.

Getting a micro-loan to pay off another loan is not a good idea. A temporary solution to the problem in the long term will only aggravate the situation. The last but very important rule: payday loans should be taken only in emergencies, and not to buy non-essential items.

Advice: Before contacting an MFI, you should try to find money in other ways, for example, to borrow from friends or apply to a bank. Microloans differ significantly from bank loans. Both have their pros and cons. The main advantages of a payday loan are almost guaranteed approval, quick receipt at any time of the day, and without a certificate of income. Otherwise, traditional loans win.

In the bank, you can take a larger amount for a long time and make insurance. But most importantly, the rate is ten times lower. As a result, it turns out that it is worth applying to microcredit companies for payday loans online only in two cases: when money is needed urgently, or after receiving a refusal from a financial institution with more favorable conditions.

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Best ways to track employee attendance

Organizations worldwide are increasingly becoming more sensitive towards providing their employees with a healthy, encouraging, and inclusive work culture that provides them equally encouraging remuneration. Retaining an employee is something most companies strive for by providing them with the best working environment. While it inspires employees to deliver better services, it is also important for organizations to keep a tab on their business operations and workforce expenses. And without an attendance tracking system, you will not be able to have an insight into whether you are operating within the budget, remaining compliant, and keeping the right records.

Despite being an important aspect of every business, implementing attendance management systems can be an overwhelming task. Companies often struggle to figure out where to begin with or how to determine the best option available. But we will make things easy for you. This article will tell you everything about the attendance tracker and the best ways to track employee attendance.

Why use employee attendance software?

Tracking employee attendance is important for the success of every business. It comes with several benefits including minimizing daily loss of productivity and recapturing valuable assets like time and money. Here are some of the main reasons why every organization must use employee attendance software:

  • Provides ease of shit management: Employee attendance software makes attendance management and workflow synchronization a lot easier. It automatically schedules work assignments to employees, resulting in better time management for both employees and employers.
  • Streamlines leave management: The software makes managing leave, working hours, and tracking employee absence from work more streamlined. This results in better project management as the company has the exact number of employees available.
  • Enhanced payroll process: With accurate data of how many hours an employee has worked, number of off days, leave, holidays, etc., the attendance software makes payrolling a lot simpler and efficient. It also provides security to employee data.
  • Automating the workflow: By automating manual tasks, the attendance tracker reduces errors and smoothens the attendance recording process.
  • Improves productivity: With automated attendance processes, the tracking software saves precious time to do other, more strategic work.

Most efficient ways to track attendance

Choosing an efficient attendance tracking system that is not time-consuming, and cumbersome in use is important for every organization. Here are the best ways to track employee attendance:Tracking remote employees with mobile attendance system

Remote or work from home arrangements has become widespread in the post-pandemic world. And several companies are now looking for means that can be deployed for seamless remote employee attendance. And mobile attendance systems are one of the best options. GPS-enabled mobile phones can provide accurate data on working hours.

Wall-mounted swipe cards

These are updated versions of the punch card systems where the employees use their ID cards instead of timecards. The in-out time is automatically stored through the attendance tracking software and can be made available to the management at any time.

Automated systems to ensure regulatory compliance

All companies must fulfill their regulatory compliance requirements, and keeping the track record of employees and accurate data is one way of ensuring that. A few of the common reasons why companies often find themselves non-compliant is due to inaccurate recordkeeping. But using an automated system that accurately records employee attendance and working hours will help comply with government regulations and internal policies.

Technologically advanced attendance systems for adequate and accurate data processing

Several companies, especially larger corporations are now utilizing technologically advanced attendance systems like facial recognition attendance systems, fingerprint attendance systems, biometric attendance systems, and other time and attendance software that record in and out times accurately. These systems are highly efficient in maintaining security within the office premises apart from providing accurate data.

Easy to use software that employees can embrace

Using software that lets employees track their attendance data, correct discrepancies, and review the number of hours worked and available leave will save a lot of time for the HR professionals. This will also help the employees embrace the system as they can participate in doing the administrative tasks.

Cloud-based systems work well

Safely storing a massive amount of data can require companies to invest in expensive internal hardware systems increasing the overall expenditure. But if you invest in a cloud-based system, it will save you that cost. In addition to that, it will also make the data available to all parties at different locations while providing utmost safety to this critical employee data.

Attendance tracking systems are crucial for organizations to function seamlessly. The attendance tracker helps keep a tab on the employee’s productivity and frees the HR managers from manually tracking work hours and absenteeism. This allows organizations to concentrate on other crucial aspects of operations and create a healthy working environment for the employees. While choosing and implementing the right employee attendance tracking software can be overwhelming, one way to simplify this is by letting the experts do the work for you. Carbonate is one of them. With a team of experienced professionals, Carbonate helps your business grow by providing comprehensive HR solutions.

 

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Low-budget Business Ideas to Venture into in the New Year

We are wrapping up the year, and it is time to make new year resolutions. Many companies are still trying to find their footing after the adverse economic effects that have been caused by the global pandemic. Several individuals are still jobless after the massive layoffs in the last year. However, if you are an outside-the-box thinker, all hope is not lost for you. There are so many misconceptions associated with starting a business, the most common one being that you have to break the bank to become a business owner. We are here to dispute that by listing down low-budget business ideas for you.

Cheap and Lucrative Business Ideas

Starting a business can be an uphill task, especially if it’s your first time. There are important details that need to be taken into consideration before a business can start to run. The most important factor is to decide the kind of business you want to venture into and determine if it’s the right fit for you. Here is a list of some business ideas you can start in the new year.

Laundry Business

In today’s fast-paced world, it is almost impossible to find time to perform simple tasks such as doing laundry. Many people have turned to laundry shops to help them with their laundry needs. For a startup laundry business, all you need is to acquire an ideal location, preferably in a residential area and a laundry machine. 

To limit your costs, you can go for a multipurpose machine that washes and dries laundry. Ensure that you purchase a machine that has strong valves from a reputable industrial valve manufacturer. This will enable you to avoid constant valve repairs for your laundry machine.

Airbnb Host

One would say that this is a flooded market but do not let that discourage you from becoming the best Airbnb host. The fact that so many other people are doing it doesn’t mean that you cannot succeed in this business. The secret is to be unique. Most Airbnb guests want to experience something different from their usual day-to-day lives. One special way to stand out in this field is to look for units that are out of the norm. How about a floating house on a sea dock? That will for sure make you stand out from your competition. Make sure that you get your dock from the best suppliers to ensure the safety of your unit and your guests.

Fast Food Business

You can never go wrong with food business. Food is a basic need for every individual, and due to busy schedules, most people opt for fast food to avoid having to cook each and every meal. The good news about this business is that you can run it from the comfort of your home. All you need are supplies, cooking equipment and, of course, customers.

However, without proper marketing, you cannot hack it as a fast-food owner. The best way to market your business is by the use of online platforms such as Facebook, Instagram, and WhatsApp. This way, you do not end up throwing out your food because you did not get enough orders to finish your stock. You can also make door-to-door visits to offices and offer to deliver their lunches and snacks to them.

Cleaning Services

This is a field that most people choose to despise, not knowing the great profits that one can make by offering cleaning services to residential homes and work premises. As you start this business, you can hire one or two people to help you and offer them a percentage of the payment you get from your services. 

Start with a simple vacuum cleaner and cleaning supplies such as bleach, washing liquids, cleaning brushes, and sponges. You can also run this business from your home and do house and office calls. If you are good at what you do, clients will refer you to other clients, and with time you will work your way up to become a big cleaning business owner with employees on payroll.

Running Errands

If you knew the number of people who need someone to help them pick up their laundry or go to the grocery store for them, you would have already started this side hustle. All you need is to come up with an enticing business name and logo and advertise your services online. People do not have time for simple tasks such as cleaning their yards or picking up a parcel from the courier office. If you have a car and some spare time on your hands, why not make some extra cash as an errand person.

Conclusion

In today’s world, anyone and everyone can own a business. With the best marketing and brand promotion strategies, you can come from a small startup to a big business enterprise. There are also business experts who are in a position to advise you on the best business ideas and can help you set up and guide you on how to grow your business. Try some of these in the new year and see yourself become an employer.

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