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5 Ways to Incentivize a Workforce to Increase Company Revenue

Creating pride in and loyalty to the company is key to generating revenue-increasing employee performance. In order to cultivate those sentiments in their workforces, many businesses turn to incentive programs that recognize strong performance. Not all incentive programs are created equal, however, with many outdated employee-of-the-month efforts doing more harm than good to organizational morale. In order to effectively incentivize today's workforces to help grow company revenue, leaders should consider other strategies as well.

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Why Team Members Should Get to Know Each Other

During this unsettling time, when more people than ever are working remotely, many people are feeling isolated. Virtual meetings tend to focus on deadlines and data, leaving little time for team members to loop each other into their personal lives. Although the question "How are you doing today?" comes up, it usually elicits only brief responses—and the conversation then turns to the work at hand. Instead of treating remote gatherings as merely work-related meetings, leaders need to include in them a dimension of relationship building. Not only does getting to know team members address isolation concerns, but it can also yield several other benefits.

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Business Ethics in Human Resources

Business ethics is defined as "the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities." It's the application of a moral framework to the way organizations do business, and it shapes and changes the way businesses operate. 

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The Reinvention of HR

Even though HR still struggles to dispel its decades-long stereotype as a group of technically incompetent, soft-spoken, corporate enforcers (think of Toby from The Office), in recent years savvy, effective, data-driven HR teams have been actively reimagining everything from performance management to corporate culture. In 2020, COVID-19 and societal unrest made the HR function even more mission-critical and underscored the importance of human intellect in people management.

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6 Tips for Managing Remote Employees for the Long Term

Managing remote employees is hardly a new concept. In fact, the shift to working from home was well underway - and trending upward - long before anyone had even heard of COVID-19. Between 2005 and 2018, the number of "regular work-from-home" employees increased by a whopping 173 percent,1 with 15 percent of "wage and salary workers" working exclusively from home during 2017 - 2018.2 When the pandemic struck, many businesses that were able to have their employees work from home did so, and by June 2020 "42 percent of the U.S. labor force . . . [was] working from home full time."

 

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DISCLAIMER: The information contained in these articles is intended to provide useful information. It is published with the understanding that the publisher is not engaged in rendering legal services. For specific legal advice, please consult your attorney.