The modern day business world is running through new innovations and technical advancement. Micro-, Small and Medium-sized Enterprises are the backbone of the economy. The UN Observances published in June 2022 says that the MSMEs are contributing 90% of business, around 60-70% of employment & 50% of GDP around the globe. The backbone of livelihoods and the national economy needs to be guided properly to succeed in the international market.
So, many governments and economists suggest digitalizing the organization to fit the modern era. Digitizing means using digital or electronic
The pandemic accelerated the remote working trend with up to 25 percent more workers in digital sectors such as e-commerce and automation than before, the report from McKinsey stated. Although millions of people lost jobs as an aftereffect of pandemic to the businesses, others rapidly adjusted to working from home (WFH) as offices closed. Post-pandemic, companies are making a shift to flexible workspaces after positive experience with remote work during the pandemic as it can reduce the overall office space they need, and save money on rent, utilities, and other office
Every organization seeks different needs and wants in different phases of the organization's life cycle. Even though the ultimate goal is profit; the strategies for achieving the goal will change according to market fluctuation and lifecycle. There are 5 main stages (Inception, survival, growth, expansion and maturity) of the organization life cycle available according to economists. Startups, Entrepreneurs need to be focused and be ready for each and every stage.
Inception is a planning stage and in that period, there is no need for instruments and technical gadgets for the organization.
Much research about the employee experience journey shows the behavior flows and mental status of the workforce. Monitoring and tracking the employee behavior is must and complicated to any company. Predicting and planning for such things will help to manage the diversity, equal opportunity, unnecessary conflicts, accidents in production and so forth. Tracking employees' behavior will help to prevent sudden strikes and help to continue the production processes. Managing the entire workforce for medium and large companies can become complicated, unless you don't have Better HR Software.
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Organizations are production machines which provide needed product & services to this world. Without good quality outcomes, the machines won't survive long in this busy world. People will forget about the old one and switch to another. That's the common theory of this society. So the entire business world depends on the labor force, which is the power source for the machine.
Producing quality production goods & services is not an easy task. Consumer behaviors will change from time to time, season to season. The business process involved many competent employees, from raw materials
The cultural changes made differences in human behavior in new normal life. With the tech evaluation, the work culture also affects significantly. People nowadays take more attention to their mental and physical health. The Covid shows the importance of good health rather than wealth. The “New Normal” research which was published in January 2022 explains the new phycological transformation of people in work. So, the employees are more concerned about proper work life balance rather than high salary.
What does Work Life Balance mean, why it is so important, and how to improve it?
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The race of technological development causes rapid growth in telecommunication industries. The digital era makes the whole world into a small town called globalization. So, the business world has turned into more busy and ambitious than ever before. It's like the whole corporate world competing to become a market leader in a small town. So, overcoming all hurdles, organizations must be strong and perfect internally. HR Management Softwares are the key to the internal stability in this modern era.
According to the MRFR (Market Research Future) market analysis report, “Human Resources
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