How to Efficiently Deal with Office Disputes

During my time as an HR staff at a conglomerate, I came across some office disputes that were truly varied and even a bit crazy. Picture this: two ladies screaming at each other while I tried my best to mediate and listen to both sides. On top of that, there were complaints of stealing and accusations of betrayal against the boss. It became clear to me that I couldn’t simply trust anyone. Office disputes are rampant, and it falls upon the HR department and management to mediate and enforce company policies.

Now, many of us have been taught to avoid conflict at all costs, but sometimes, facing conflict can be surprisingly productive. So, we’re here to teach you how to handle conflicts in the office productively and efficiently.

1. Deal with conflict promptly, don’t put it off. Confronting conflict head-on can be tough, but delaying addressing it can harm employee productivity and engagement. Encourage a culture of accountability that encourages you and your employees to take responsibility for difficult conversations.

2. Determine the type of conflict at hand. Start by identifying the cause of the conflict and figure out if it’s related to tasks, relationships, or values. Knowing the specific type of conflict enables you to use appropriate tactics to resolve it. Skipping this step might lead to wasting time on irrelevant issues. By pinpointing the root cause, you gain a deeper understanding of how the conflict arose in the first place and can get both parties to agree on what the disagreement is really about.

3. Encourage respectful and mature communication from both parties. Before the discussion begins, ensure everyone commits to being respectful. Set ground rules that forbid aggressive language, yelling, and other immature behaviors. By doing so, you can calmly and effectively handle any workplace conflict.

4. Brainstorm possible solutions as a team, not individually. When managing conflict processes, having a common objective, which is resolving the issue and preventing it from resurfacing, is crucial. It can be tempting to tackle workplace conflicts alone, but involving your team is essential for achieving lasting resolutions. Encourage your employees to get involved, and they’ll feel a sense of ownership that can prevent future conflicts.

5. Create an action plan and follow through. Once you’ve brought workplace conflicts into the open, it’s time to truly resolve them. Like any other work goal, this requires a concrete plan and commitment to seeing it through. The specifics of the plan don’t matter as much as the dedication to resolving the conflict effectively.

Image Credits: unsplash.com

In conclusion, conflict is a natural part of our day-to-day lives. Whether it’s disagreements with family, friends, or coworkers, managing and resolving conflict at work is crucial for meeting organizational goals. Embrace conflicts as opportunities for growth and learning, and remember that handling them with a human-centric approach can lead to stronger and more harmonious workplaces.

Sources: 1 & 2

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How much to save for emergency funds and ways to save it

Singapore 50-dollar notes

Are you the sort that never plans for rainy days?

Life is full of surprises, and they’re not all the good kind. If a sudden big expense pops up, you might go into panic mode. Best to start building your emergency fund now and make it a minimum of 3 to 6 months of your usual spend.

With an emergency fund, you can sleep more peacefully at night knowing you’ve got a financial cushion if life throws curveballs your way. Take control of your money situation now for less stress and more stability overall.

Strategies for building your emergency fund
  • Cut out non-essential spending

Go through your monthly expenses and trim whatever you can, like eating out daily, entertainment, or subscriptions. Then redirect that money into your emergency fund. Even reducing discretionary spending by $50 a month can make a big difference over the course of a year.

  • Save a fixed amount regularly

Set up an automatic transfer of a fixed amount, say $100 per month, from your paycheck or bank account to your emergency fund. The amount depends on your income and expenses, so start with whatever you can afford. The key is to save regularly, even if just a little bit. Over time, you will build up a good amount.

  • Deposit any windfalls

When you receive unexpected money like a work bonus, cash gift, or even a government payout, put all or a portion of it into your emergency fund. Windfalls are a great way to give your fund balance a quick boost.

Where to keep your emergency fund
  • High-yield savings account

High-yield savings accounts are very liquid, meaning you can withdraw your money anytime without penalty. The interest rates are usually higher than normal savings accounts. Some recommended options are CIMB FastSaver (easy to start) and DBS Multiplier (easy to maintain).

CIMB Savings Accounts

  • Fixed deposits

Fixed deposits lock in your money for a fixed period, usually a few months to a year. In return, you will get higher interest rates than savings accounts, up to 3 to 4% per year. If you need to withdraw early, most banks will charge a penalty fee. So only put in money you won’t need for a while.

  • Singapore Savings Bonds (SSBs)

SSBs are issued by the Singapore government and you can earn up to 3%+ interest per year and your money is pretty safe. The catch is your money will be locked in for 10 years. Withdrawal is possible but you will need to pay a small fee.

  • Cash management accounts

Cash management accounts are a good option if you want to earn higher interest (fluctuates) but still maintain liquidity. However, they aren’t guaranteed by the Singapore Deposit Insurance Corporation (SDIC) so do your thorough research before jumping in.

Saving for your emergency fund is important and you better start saving now before the next financial crisis comes knocking on your door. Even saving $50/month can go a long way. Remember, you want enough to cover at least 3 to 6 months of essential expenses in case anything happens. Once you hit your target, don’t stop—keep adding money whenever you can. The more you save, the more prepared you will be for unexpected events. Saving money may not be the most fun thing to do every month, but having that emergency fund will guarantee plus chop give you that peace of mind if life takes a wrong turn.

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How to make the transition from self-employed to employee easier

woman working on her fashion designs

So you’ve been your own boss for so long already, and now you want to become an employee again?

After enjoying the freedom of setting your own schedule and being the one calling the shots, going back to the 9-to-5 and reporting to someone else can be quite a big change.

So allow me to share some tips to help you make the switch from controlling your destiny to being part of a team again as seamlessly as possible.

Reacquaint yourself with the differences between self-employment and employment
  • Less flexibility but more stability

When you are the boss of yourself, you can set your hours and take leave (almost) anytime you want. But as an employee, you now have fixed work hours and a limited number of days off. The upside is you will have a steady income and (better) job security. No need to worry too much about when the next paycheck is coming.

  • No more “multitasking”

As self-employed, you’ve probably handled everything from sales to accounts and business development. Now you can focus on specific job roles and responsibilities. This means there’s no need to run across departments in a day until your brain is fried. Let the relevant departments handle their parts.

  • Following orders

So you used to make all the decisions? Not now anymore with bosses and company policies to follow. So it’s time to make the switch from speaking to listening and meet project deadlines set by superiors. But at least you no longer need to carry all the weight and pressure on your shoulders.

Preparing for the transition
  • Do a self-assessment

Sit down and think about what skills you’ve picked up as an entrepreneur. Things like problem-solving, time management, and handling pressure are attractive to employers. Recognize your strengths and how they can benefit your new company. This will boost your confidence in interviews and help you negotiate a good salary.

a woman having an interview

Image Credits: sng.ac.jp

  • Emphasize relevant experience

When job-hunting, focus on how your entrepreneurial experience will make you a better employee. For example, highlight how you independently built a business from scratch, innovated new products or services, won customers, managed finances, and hustled to overcome obstacles. These stories demonstrate a growth mindset, resilience, and leadership potential—qualities any boss would value.

  • Be open to change

The hardest part may be getting used to fixed work hours, less flexibility, and having a boss (again). But go in with an open mind. View your new role as an exciting opportunity to better yourself, without the stress of being solely responsible for a business.

Adjusting to the new role
  • Follow the schedule

Gone are the days when you could start work at 12 pm if you wanted. Most companies expect you to be at your desk during fixed hours, whatever the agreement is. Make sure you’re on time and take your breaks when scheduled. If you need to come in late or leave early, inform HR in advance.

  • Work with your team

Whether it’s your cubicle neighbor or a whole department, get used to collaborating. Communicate openly, share ideas, and help each other out. Having a good rapport with coworkers will make the daily grind more enjoyable.

  • Complete assignments by deadlines

As an employee, you will be given tasks, projects, or sales targets to finish by certain dates. Don’t drag it out—your colleagues and managers are depending on you. Try your best to meet all deadlines and let someone know ASAP if there are any issues.

After so long calling the shots for yourself, you now have to listen to someone else. But if you go in with the right mindset, open to learning new things and adapting to different working styles, you should be fine. Remember, be flexible, and focus on the work and not the politics. Your experience from so many years working alone will serve you well. This job may turn out to be better than you expect if you give it a proper chance. Take a deep breath and dive right in. The water will feel warm in no time.

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Is sharing your spouse-to-be’s salary with your parents a good idea?

sample paycheck

Why so kancheong?

Getting engaged is stressful enough as it is, now you want to worry about whether to tell your parents how much your future spouse earns?

Take it easy, my friend. Because sharing such private details may do more harm than good. Your parents may start judging your fiance/fiancee based on their paycheck rather than their character. 

Why invite such unnecessary drama and complications into your relationship and new chapter of life together? Keep money matters between the two of you and focus on planning your wedding and building a strong marriage foundation instead.

Downsides of sharing salary information
  • Creating unrealistic expectations

Your parents may start seeing dollar signs and build up unrealistic expectations of the kind of lifestyle you and your spouse can provide for them. This can breed resentment and conflict within the family if both of you “seem” to be able to afford it but choose not to do so.

  • Fostering dependency

Telling your parents the salary information may lead them to become financially dependent on you and your spouse over time (if both of you earn a lot). They may make poor financial decisions thinking you will bail them out, or keep coming to you whenever they need money instead of being more self-sufficient.

  • Causing tension

Sharing the details of your combined income with your parents can also create tension with other family members. Relatives may start comparing themselves and their own financial situations, or become jealous/boastful. This can damage relationships and cause rifts within the extended family.

Importance of privacy and consent
couple conversing

Image Credits: partnersunitedfinancial.com

Your spouse-to-be trusted you enough to share such personal information. If you reveal it to others without their permission, it can damage that trust and cause hurt feelings.

Even with good intentions, your parents may share that information with extended family and friends. Before you know it, people who have no business knowing those details now do.

Put yourself in your spouse-to-be’s shoes. How would you feel if they told their parents your salary without asking you first? Not so good, right?

Treat them how you would want to be treated. Ask for their consent before sharing sensitive details about their life, especially something as private as their pay. If they say no, accept their answer; their privacy is not worth risking your relationship over.

Relationships are built on trust, honesty, and communication. By respecting your spouse-to-be’s privacy and getting their ‘OK’ before sharing details with your parents, you show them they can confide in you going forward. They will appreciate your thoughtfulness, and it will help strengthen the foundation of trust in your relationship.

At the end of the day, you know your parents and situation best. If you foresee non-stop nagging about how you should spend the money or constant comparisons with your siblings’ partners, then maybe keep that detail between the two of you. The most important thing is you and your partner are on the same page. Whatever you decide, just do what feels right for your relationship.

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Does Doing Good in School Predict Our Career Success?

Singapore places significant emphasis on Science, Technology, Engineering, and Mathematics (STEM) education, with the government investing in research and development to foster innovation and technological advancements.

The educational system in Singapore follows a structured progression: six years of primary school are followed by four to six years of secondary school, and then one to three years of postsecondary education. At the beginning, the primary school curriculum is uniform for all students from years one to four. Once students reach years five and six, they have the option to take individual courses at either the foundation or standard level, with foundational courses designed to provide greater support.

When you were studying, did you feel the pressure of local education? Did your parents highlight how important and hefty education was?

Recent research by economist Kirabo Jackson and colleagues highlights that certain schools excel not only in raising standardized achievement test scores but also in cultivating interpersonal skills such as assisting others, as well as intrapersonal skills like effective time management for studying. In a Forbes article penned by Jacquelyn Smith, the concept of adults returning to school for career enhancement is explored. The article cites Laura Vanderkamp, an author, who suggests that many individuals believe further education can aid in achieving career aspirations, such as higher earnings, career advancement, or transitioning to a new field.

Pursuing an undergraduate or graduate degree equips individuals with applicable skills and knowledge for their professional roles. For instance, a business administration degree program imparts best practices in accounting, facilitating a comprehensive grasp of the financial aspects of one’s work. Similarly, a management program teaches principles of leadership and conflict resolution. This knowledge encompasses both factual and practical dimensions, proving valuable in current roles and future ambitions.

Beyond factual knowledge, these academic pursuits impart nuanced yet crucial skills, often referred to as “soft skills.” Proficiency in communication, teamwork, critical thinking, and problem-solving are integral parts of this skill set. You can use these soft skills to further improve your approach at work. These abilities contribute not only value to an organization but also establish a foundation for personal growth, providing individuals with the readiness and competence to take progressive steps toward their aspirations.

Research co-authored by Nobel Prize-winning economist James Heckman underscores the significant role of personality in predicting success. Academic grades capture personality traits like determination, diligence, and self-discipline—attributes conducive to achievement. In contrast, IQ alone merely accounts for 1% to 2% of income disparities.

Although links between academic performance and career success exist, notable gaps persist. Leadership and comfort with risk, crucial traits for reaching the pinnacle of business success, aren’t fully reflected in grades. Nevertheless, education instills a robust work ethic. An article from Six Sigma Online at Aveta Business Institute emphasizes the positive message conveyed by ongoing education:

The initiative to expand one’s knowledge is highly regarded by supervisors and business executives. Such a proactive attitude signals an individual’s potential to contribute further to the company’s growth.

Image Credits: unsplash.com

Demonstrating a strong work ethic and unwavering commitment to goals fosters management’s optimism regarding an individual’s sustained success within the professional environment.

As you can see, education plays a crucial role in shaping a person holistically. This encompassing development encompasses facets such as personality, work ethics, soft skills, knowledge, and more. These elements collectively empower individuals to thrive in their careers.

Sources: 1, 2, & 3

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