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Technology

4 Breach-Proof Ways to Protect your Company`s Sensitive Data against the Cyber-attack!

cyber attack

As work-from-home becomes the new normal, businesses are restructuring their work-from-policies to ensure the security of client data.

From the hacking of the 2018 Winter Olympic games to the recent scam with NDTV`s well-renowned journalist Nidhi Razdan, it`s clear- digital domains are the new battlefronts. Though the companies are taking the required preventive measures, the cyber threats on global brands like Delta Airlines, and Best Buy proves that no matter how large or small, companies are still vulnerable to emerging cyber-attacks.

According to the report of CSO`s State of Cybercrime 2017, ‘by the year 2021, the cybercrime damages will cost the businesses around the world $6 trillion annually as the unfilled cyber-security roles will have tripled. ‘

The key findings from the report clearly state that in the coming years every Tech business will actively protect their businesses against cyber-security threats.

So how can you ensure the privacy and security on the internet for your business? Let`s have a look at the most successful ways to protect data in an organization that will ensure data security:

  1. Update Latest Security Patches

The best way to protect your company`s data is to ensure that your tech professionals are keeping up with the latest hardware and software patch updates. To complete tasks in time, your employees may not update their software because they do not want to be interrupted. Hence, to ensure online privacy protection, you must implement an updated patch plan.

  1. Encryption of Data

From encrypted hard drives, phones, USBs to data encrypted before its transfer to a cloud system, data encryption has become an integral part of the protection of sensitive information. Businesses in today`s world have become vulnerable due to the rise of remote work. With devices frequently leaving the safety of secured networks, encryption ensures that the data remain inaccessible in case of theft or loss.

  1. Invest in Emerging AI solutions

AI or Artificial Intelligence is growing and expanding its branches with each passing day. Integrating AI with security plans can provide you with many benefits.

  1. Create a Response Plan

A cyber-attack or a data breach can prove a lot costlier than we can anticipate. Hence, creating a breach response plan will ensure that your tech professionals how to deal with the situation, in the worst scenario. A response plan will help companies adequately store their data, fix vulnerabilities, and also notify the tech professionals.

With the rise of many startups and small businesses, India is experiencing a ‘data revolution’. Protecting sensitive information has become more essential than ever. By applying the above-mentioned tips, you can ensure the protection of your company`s data.

Apart from the data protection, businesses might throw some uncertain challenges that can catch you unprepared. Find business templates meant for entrepreneurs just like you. Manage many aspects of your business with the minimum investment of time and money with our Everything about Entrepreneurship course. To know more click here: https://www.badabusiness.com/?ref_code=ArticlesLeads

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HR & People Management

Latest Amendment in labour laws: Employee Compensations May See Major Changes!

labour law

India, which is one of the most labour-intensive countries in the world, has finalized rules under the four labour codes, or laws that will take effect from April. The country has finally taken a leap-of-faith and codified 29 of its national-level labour laws into 4 codes.

The Ministry of Labour and Employment will complete the process of bringing the latest amendments in the four new labour codes soon that will provide the companies with the flexibility of four working days in a week. However, there will be a maximum of 48 hours of work in a week.

Most of the labour laws in India are almost 70-80 years old. The economy of India has changed considerably since then. Hence, this is a bold and progressive move by the government as these age-old labour laws in India needed to change.

According to the latest amendments in labour laws the new definition of ‘wage’ will exclude pension and PF contribution, statutory bonus, HRA, conveyance allowance, overtime and gratuity. If these exclusions result in more than 50% of an employee`s CTC, the excess amount will be added back to the wage for calculation of social security benefits.

Once these codes will be implemented, the companies will have to restructure the employee compensation packages or CTC. The companies will also have to modify an employee`s CTC because under the new rules, all travel allowances such as house rent, leave travel, overtime, and conveyance, have to be capped at 50% of the CTC.

The Code on Wages was notified by the government in 2019. However, the remaining 3 codes- the Industrial Relations Code 2020, the Code on Social Security 2020, and the Occupational Safety, Health and Working Conditions Code 2020, were approved by the government on September 29, 2020.

The newly introduced codes appear more as an act of consolidation rather than reform. The codes mentioned in the new reforms will bring several changes that employers in every sector, location and size will need to scrutinize closely.

Want to know how you can restructure the payroll through an effective HR management? Take our Problem Solving Course that will help you to understand the in-depth knowledge related to Human resource management. To know more about this course, click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

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HR & People Management

Employee Performance Evaluation: What is it & Why it is necessary for an Organisation?

Employee Performance Evaluation

As 2020 winds down, employees all across the world are gearing up for their annual performance reviews. The past year has been like no other in human history.

Covid-19 has made certain targets unattainable while presenting a lot of challenges for both employers and employees. This has also forced employers and employees alike to adopt creative ways to stay relevant and productive. As a result, 2020`s performance review must also put the past year into consideration while reviewing employee`s performance.

Why employee performance management is necessary?

Performance management, if applied constructively can establish a channel of continuous communication between employers and employees. The main goal of effective performance management is to increase the overall employee productivity and efficiency to attain organizational goals.

With some simple tweaks in the process and mutual honesty, employee performance evaluation can become a valuable tool for managers and team members, equally. Here is how you too can adapt and improve employee performance:

  1. Set Performance Standards

Setting out clear performance standards for employees in a specific role can provide a clear understanding to employees about their roles and responsibilities. The same standards should apply to every employee who holds the same position.

Always ensure that all the performance standards should be achievable and they should match with the person`s job description.

  1. Set Specific Goals

Unlike performance standards, specific goals should be set for each employee by keeping their capabilities into consideration. Goals are specific to the strengths & weaknesses of the individual employee. They can further help them to enhance their skills or can encourage learning new ones.

  1. Focus on Employee Potential

While evaluating an employee`s performance, always focus on the future and the potential that an employee holds. Avoid criticism of past mistakes as the lessons learned from them are invaluable.

  1. Avoid Comparing Employees

The purpose of an employee evaluation is to provide feedback to every staff member against their Key Performance Indexes (KPIs). Comparing one employee with another will not only lead to unhealthy competition, but it can also lead to employee dissatisfaction.

Creating a productive environment for employees is essential for the development of an organization. Always ensure that an employee evaluation is a two-way street in which both the evaluator and the employee can exchange their perspective.

However, feeling a bit overwhelmed with employee performance management is common. Get adequate knowledge related to Human Resource Management that will help you increase employee engagement, efficiency, and productivity as well. To know more about our HR Problem Solving Course, click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

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HR & People Management

Steps For Human Resource Department Of A Company To Handle a Harassment Complaint At Work

harassment

The human resource department has to deal with a lot when it comes to satisfaction of a company’s employees. Helping the employees solve their issues while adhering to the company norms especially makes the task challenging at times. One such particular situation which is very fragile and demands very careful considering is harassment against the employees. This becomes even more complex when the issue is related to a case of sexual harassment at the workplace. In spite of having company laws towards the act, the HR department is expected as well as supposed to act in a very fair and just manner, so that relevant action is taken. It is best to break down the entire procedure into several steps to ensure the needful is done at the best of the capability of an organization at the earliest. Here is how a successful HR manager can handle sexual harassment cases:

Considering and recording a complaint: Be it official or unofficial, the HR department should consider every case related to sexual harassment to be recorded. Sometimes an employee might not be comfortable in communicating the issue via mail but instead choose to communicate verbally. In some other instance, the HR department may get to know about the incident through a second person, most probably a colleague or friend of the person who has faced harassment. The HR department must in such cases register and record the issue as a complaint of sexual harassment without any second thought.
Creating a safe environment: As soon as the complaint is received, it is crucial to create a safe environment for the person who has been harassed before any investigation begins. Moreover, there may be other people who have been harassed by the same alleged harasser but couldn’t come up. Thus, it is the first and foremost responsibility of the organization to put the alleged harasser at a distance from the person who has been harassed. Some of the ways of doing this could be to work from home, leave without pay, or shift the harasser to another location.

Informing both the parties: Both of the parties involved i.e., the person who has been harassed and the person who has been alleged for harassment must be informed about the steps the HR department will be taking in order to proceed with the investigation.

Investigating: It is important for the HR department to have an impartial perspective throughout the investigation. There is a need for the HR Department to have a fair look at both sides of the coin. This not only prevents missing an important part of the conversation but also prevents any false accusations.

Getting to a conclusion: Depending on the investigation, the HR and organization need to take very strict action so that it sets an example of zero-tolerance against any such activities. Make sure you take an action according to both the company norms and the laws set by the local government on the issue. These may include termination or pursuing a legal case against the harasser.

Communicating results: While the harasser will know the result as the organization takes an action against it, the HR department needs to keep the person who was harassed informed about the steps that have been taken to ensure the safety of that particular employee, other employees, and ensure no such incident occurs in the future.

Following up: Regularly follow-up with the employees including the complainant, victim (if both are different) to ensure that they are feeling safe at the workplace and if no such issue is being continued.
Sexual harassment is a delicate issue and needs to be handled very carefully. In such a case, the HR Department is required to work responsibly. HR department often faces challenges in relevance to the satisfaction, safety, and happiness of its employees. The Human Resource Problem Solving Course guides organizations on how they can fulfill their role. To know more or to register https://www.badabusiness.com/psc?ref_code=ArticlesLeads

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HR & People Management

5 Steps Companies should take to Improve Diversity at Workplace!

diversity

Diversity is good, and there are no two ways about it. Diversity in the workplace is essential to create a friendly environment in the workplace. It is also critical for employee engagement. It not only promotes creativity but also provides room for innovation.

According to a research conducted by Deloitte, a workplace that prioritizes inclusivity and diversity are twice as likely to meet or exceed their financial goals, six times more likely to showcase innovation, and they generate 30% more revenue per employee.

What is workplace diversity?

Every employee in an organization brings their unique backgrounds, experiences, and perspectives to the table. Diversity occurs when an organization provides a healthy environment where a beautiful intersection happens.

From gender diversity, language diversity, religious diversity to distinct viewpoints, and unique abilities, diversity exists everywhere.

So why is diversity important in the workplace?

Promoting workplace diversity can bring actual benefits like creative solutions to challenges, better efficiency, employee satisfaction, and a lot of others.

Diversity in the workplace creates a well-rounded employee experience that gives an organization a competitive advantage.

If you have an organization where your employees are unsatisfied with the culture and leaving your company in great number, here are 5 ways in which you can promote employee engagement:

  1. Educate Managers

An employee never leaves a company, but a bad manager. Hence, the relationship between an employee and a manager is important. Empower your managers with the necessary skills to maintain a cordial relationship with their subordinates.

When workplace diversity is celebrated, the potential of your workforce becomes unlimited.

  1. Diversity Training

We all are biased at some level. Whether we would admit it or not, all of us carry some form of bias, unconscious or otherwise. The most crucial step in overcoming this is to develop awareness, which is only achievable through diversity training.

  1. Create more Inclusive Workplace Policies

Conducting a comprehensive evaluation of your workplace is extremely necessary. Deep-dive your current policies and introduce some news to facilitate workplace diversity at the workplace. Make your job openings in such a way that they will reach wider audiences.

  1. Keep the Communication Clear & Build Employee-led Task Forces

Creating workplace diversity policies is not sufficient. Ensure that there is clear communication between the management and the employees. Policies should also reflect the unique needs of everyone working in your organization.

Hiring the right talent is not enough for an organization to grow in the long run. Promoting workplace diversity is also essential to provide a safer environment for those who work there.

Investing and intentionally endorsing diversity in a workplace will create a happier and engaged workforce that will take the organization ahead.

If you are a business owner or a CEO of a large company, you can learn how to improve employee engagement. Learn how to manage the multiple departments with our diverse business templates that you get with our Problem Solving Courses. Click here to know more about our course: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

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Strategy

Want to Make Your Customers Happy? Follow These 4 Strategies to Improve Customer Satisfaction

Customer Satisfaction| Representational Image (Photo Credits: Pixabay)
Customer Satisfaction| Representational Image (Photo Credits: Pixabay)

For a business to survive in long run and be successful, customer satisfaction is of utmost importance. A happy and satisfied customer not becomes an asset for the firm, it also helps in attracting new customers and increasing sales. It advertises and provides publicity for the firm thorough his appreciating words and good feedback. A satisfied customer works as an unpaid source of marketing for the firm. However, it is cheaper to retain an already existing customer well compared to acquiring newer ones.Best 4 Ways to use Instagram for Business that will grow sales unexpectedly!

To measure customer satisfaction, firms undertake different methods including surveys, feedback, ratings among others. They also rely upon reports published by various authorities in this context. The aim is to know how happy customers are with a company’s products, services, and capabilities and do the needful changes.3 Marketing Techniques for Start-Up to Follow During Initial Business Stages.

Here are five ways how a firm can improve its customer’s satisfaction:

Listen to Know Customers:

One of the sure shot way to improve customers’ satisfaction is by listening to them, knowing their likes and dislikes. It is important for understanding the taste, preferences of the customers and also what is their expectation from the product or service offered by the firm. A firm should always take into account the reviews and feedback from their customers and make necessary changes in the offering.

Reward Local Customers:

Another way of improving the customer satisfaction is by providing rewards in form of discounts, give away, free gifts or coupons to the people who have been loyal to the firm thereby ensuring a regular sales for it. Small rewards, compliments, and appreciation makes the customer happier and she will stick around for longer time.

Robust Customer Support Service:

The firm should have a strong and functional customer support service that is operational 24/7 hours. The problems and complains of the customers should be addressed and resolved in the shorted time span and at the best possible speed. The customer should feel listened and valued. Proper after sale service also helps in improving the customer satisfaction.

Practice Customer Service Etiquette:

All the firms need to follow a proper service etiquette to make the customers happy. The staff should be properly trained to deal with the customers, answer them politely and instantly solve their problems. They should always use positive and respectful words to address the customers. It makes customers happy and enhances their confidence in the firm.

An old saying aptly describes the importance of customer for the business and its success. It states ‘Customer is the King.’ A happy and satisfied customer is the biggest reward and achievement of the business. Hence, an enterprise should take continuous steps to improve customer satisfaction and aim to happy them happy.

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Startup

Planning to Start a Cafe? Know All About FSSAI Licenses Required Before Starting Food Business

Cafe (Photo Credits: Pixabay)
Cafe (Photo Credits: Pixabay)

India is a country of foodies, people love to eat, cook and experiment with food. Many people are converting their passion for cooking into full time successful businesses. The food business industry in the country is also developing and advancing progressively. As per a report, the Food Technology Sector is predicted to be valued at $2 Billion by the end of this year. Hence, starting a business in this sector will ensure a sure shot success for the entrepreneur.Open your Own Chatbot Agency in Just 5 Steps!

However, before establishing the business in the food sector one must get the required licenses and approval from FSSAI. It is an authority which is primarily responsible for maintaining and supervising food safety and setting up the regulations about the food safety across the country. It is mandatory to get the appropriate licenses by FSSAI in order to avoid heavy palatines and winding up of business. It also enhances customers’ trust in the business. 5 Easy Steps to a Successful Virtual Event Planning.

Depending upon the size of business and its annual turnover, three types of licenses are provided by FSSAI. These are as follow:

FSSAI Basic Registration: If the annual turnover of the business is less than RS 12 lakh then the food business operator shall get registered with Registration Form A under basic level.

FSSAI State License:  If the annual turnover of the business is between Rs 12 to Rs 20 crores then the food business operator shall apply for State license Form B.

FSSAI Central License: If the annual turnover of the business is above 20 crores, then the food business operator shall apply for Central License Form B.

By following certain guidelines and fulfilling certain parameters, the businesses can easily obtain the FSSAI licenses. Entrepreneurs can visit to its official website at foscos.fssai.gov.in to get the registration done and obtain the license. Once the process is completed successfully and the required payment is made, a 14-digit registration number will be provided to the business. It is to be noted that if the business fails to get itself registered with FSSAI, then he can be sentenced in jail or charged Rs 5 Lakh as penalty or both.

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MSME

Credit Guarantee Trust for MSEs: Over 8 Lakh Entrepreneurs Get Credit Guarantee Under Scheme Run by MSME Ministry and SIDBI

MSME Ministry (Photo Credits: Wikimedia Commons)
MSME Ministry (Photo Credits: Wikimedia Commons)

The central government has launched several schemes to promote women entrepreneurship in the country as well as boost the Micro, Small and Medium Enterprises. One such schemes is the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). It has operated by the MSME Ministry in collabroation with the Small Industries Development Bank of India (SIDBI). Under this scheme, the agencies offer credit guarantee to financial institutions to provide collateral-free loans to MSEs. As per the recent government data, under this scheme guarantee of Rs 45,215.35 crore in 8,38,947 loan accounts have been approved in fiscal year 2020. 4,35,520 accounts were extended guarantee under the scheme in the previous financial year. Union Budget 2021: Here Is What the First Paperless Budget Has In Store for the MSME Sector.

As many as 67,171 loan accounts of female entrepreneurs totaling to Rs 3,366.63 Crore have been approved under the scheme in the current financial year. Women entrepreneurs in Tamil Nadu got the maximum approval of Rs 394.50 crore on 8,593 accounts. It was followed by Uttar Pradesh where 6,289 accounts were approved for Rs 334.59 crore). Madhya Pradesh with 5,927 accounts approvals for Rs 215.42 crore and , Andhra Pradesh with 5,208 approvals for Rs 143.16 crore stood third and forth respectively. Meanwhile, 4,776 accounts were provided guarantee for Rs 295.22 crore in Karnataka . MSMEs in India: Govt Aims To Raise MSME Sector’s Share in GDP to 40% From the Current 30% To Benefit Rural Poor, Says Nitin Gadkari.

Continuing its efforts to develop and promote the MSMEs in India, the Union Budget 2021 also provided a share fair of public expenditure to the sector. In the budget for the upcoming financial year, Finance Minister Nirmala Sitharaman has allocated a fund of over Rs 15,000 Crore to the Micro, Small and Medium Enterprises, which stands at double the amount apportioned to the sector last fiscal. “We have taken a number of steps to support the MSME sector in this budget. I have provided Rs 15,700 crore more than double the previous year,” said the Finance Minister

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Business motivation

5 Easy Steps to a Successful Virtual Event Planning

virtual event

In 2020, when the COVID 19 struck the country, the travel and event industry came to a halt. Although the blockage was temporary, the uncertainty associated with the virus and its effects was perpetual.

The consumers were forced to avoid traveling and the nationwide lockdown created a situation of urgency. The livelihoods of various industries and businesses were at stake.

While multiple concerns are still looking right in our faces, the event industry is finding creative ways to get back on track. The pandemic has forced certain businesses to quit the old traditional methods and embrace the new.

A special category that was considered a less-than-ideal alternative has emerged from the pandemic. Online and virtual events are now becoming a standard practice for all kinds of events.

According to a Forbes report, the virtual events are up 1000% since the Covid-19 pandemic. Based on the statistics that were obtained in the first half of the year 2020, the virtual event industry will surpass the previous revenue that was estimated to be around $404 billion by 2027.

As the demand for virtual events is increasingly high, becoming a virtual event planner is a fantastic idea. Here are some of the most brilliant tips that will help you to kick start your first virtual event with a remote audience:

  1. Understand your Audience

Being a virtual event planner can appear a little overwhelming for beginners. However, taking a solid grasp of your guidance`s general psyche can make it all simpler. To build a strong demographic profile you must know if your target audience is more tech-savvy and willing to take part in virtual events. This will help you to come out with a suitable business plan.

  1. Pick your Format

Just like live conferences, virtual events also have multiple formats. It could be in the form of a seminar, or more like a workshop, a personal party, or a tradeshow. The key here is to give your clients a unique experience that they can`t forget.

If you are a solopreneur, you can also hire a design team to create a personalized theme or “storyboard”.

  1. Select a Platform

Today, there are multiple platforms for live-streaming. Some of the most popular options include Facebook Livestream, YouTube Live, etc. You can take a free trial to familiarize yourself with these platforms to understand their timelines.

  1. Choose a Host

If you have excellent communication skills that can keep the audience engaged for the entire duration, you can be the host of the event. However, if it is a big corporate event, you can also hire a professional speaker. The choice is completely yours.

  1. Market your Event

It is important to promote the event that you are organizing just like a typical live event. Use all the popular social media channels to garner as many viewers as to make it a successful event. Do not forget to use event hashtags and use them frequently.

Organizing a virtual event is more doable than ever, thanks to technological developments. Take advantage of this technological breakthrough and build your audience to make your brand a household name.

Master the entrepreneurial skills with our Everything about Entrepreneurship course that will help you to encounter all the challenges of the business world. To know more about this course, click here: https://www.badabusiness.com/?ref_code=ArticlesLeads

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Business motivation

10 Inspiring Books Every Female Entrepreneur Should Read to be Successful

Inspiring Books for Women Entrepreneurs| Representational Image (Photo Credits: Pixabay)
Inspiring Books for Women Entrepreneurs| Representational Image (Photo Credits: Pixabay)

In today’s world that is slowly moving towards gender equality, more and more women are taking up entrepreneurial roles. Defying the age old orthodox barriers of society and religion, several women are leading the business world effectively and effortlessly. Married women and mothers who left their career midway to fit in the household role are also making a comeback with impactful start-ups and business ideas. They are leaving no stone unturned to prove their worth and capability to a male-centric and patriarchal society. 3 Marketing Techniques for Start-Up to Follow During Initial Business Stages.

Amid the complexities and challenges of the business world and the constant struggles to keep with the at the family front as well, many female entrepreneurs start losing their motivation and find it difficult to hold on the spirit of moving ahead. To pull out the women entrepreneurs from such situation and bring them back on the track of success, here are some inspiring books : 4 Startup Ideas That Housewives and Moms at Home Can Consider and Earn a Good Amount.

Stay Hungry Stay Foolish by Rashmi Bansal

Shark Tales by Barbara Corcoran

The Gift of Struggle by Bobby Herrera

What You Can Do, I Can Too by Helen Vallaeys

Connect The Dots by Rashmi Bansal

Dare to Be: 14 Fearless Women Who Gave Wings to Their Dreams by Rinku Paul and Puja Singhal

Superwomen: Inspiring Stories of 20 Women Entrepreneurs by Prachi Garg

In the Company of Women: Inspiration and Advice from over 100 Makers, Artists, and Entrepreneurs by Grace Bonney

Million Dollar Women: The Essential Guide for Female Entrepreneurs Who Want to Go Big by Julia Pimsleur

She Walks, She Leads: Women Who Inspire India by Gunjan Jain

From incubation to implementation of the business, entrepreneurs have to go follow a long and difficult journey. Constant source of motivation and appraisal is required to keep moving ahead towards the achieving success without giving up because of small hurdles.