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Accounting

The Impact of Millennials in the Workplace

Study after study has been conducted on how employers can attract and retain Millennials and how they are changing the workplace. However, as a non-Millennial, specifically a Gen-Xer (ages 34 – 54), I began to examine the impact or effect that Millennials are having on non-Millennials in the workplace. The expectation that stands out the most to me is for rapid career progression. This was never more evident to me than when I was promoted to my current position within my organization.

I work in the financial services industry and have been with the same company for a little over 13 years. I was hired into the company through their Leadership Development Program, which is intended to put graduates of the program on the fast track to success. Although I have progressed very nicely in my career, there were times when I felt that my career was being stalled. However, I later realized that my career stalled because I did not take control of it.

When I first joined the bank, the only people I saw in the position in which I now serve were older or more mature men who had been with the bank for many years. Therefore, in my mind, it would take me years to naturally progress to that position. Once I was hired into the position almost two years ago, I was actually shocked to find that there were people in their twenties and early thirties in the position. My first reaction was that I could not believe that a company would entrust that level of authority to people so young and with such a lack of experience.

As Gen-Xers or Baby Boomers in the workplace, we have to make a decision as to whether we are going to resent Millennials for almost demanding that they are promoted quickly into Senior level positions or learn from them and position ourselves for rapid career progression, as well.

Millennials are definitely having a huge impact on the workforce. However, it is important that employers and managers manage the impact so that is does not negatively impact non-Millennials and the overall morale of the company.

Gynevella Michelle Ballard is an entrepreneur, author, and public speaker. Michelle’s topics include, personal and professional development, financial literacy, and keys to living life on purpose. She is also currently enrolled in the Masters of Entrepreneurship Degree Program at Western Carolina University.

Small Business

4 Basic Tips to Keep in Mind While Starting a Business

People use the services of a taxi to reach their destination safely just like they would have if they travelled in a car owned by them. It is unlike other public transport where there is a crowd, and there are chances of not being able to reach the destination on time. If you ever intend to start a business of your own and provide comfortable taxi rides to people, here are a few tips that can help you.

• Ensure that your car looks presentable to anyone hiring it. Your car should be spick and span to attract passengers and accordingly reach wherever they intend to go.

• Affix your car with the latest technology and gadgets like GPS, music system, etc. this would allow the passenger to feel safe, guide your driver to the right destination at the fastest time and entertain your passengers with good music.

• Allow them to book your services beforehand. You may have a fleet of taxis randomly allowing passengers to hire it. You could increase the prospects by having the right marketing tools and allowing them to book your services beforehand. They can give you a call or directly book online.

• Make it convenient for them to make payments as there are times when passengers do not have money with them and insist on making a payment with their credit or debit cards. Having a swiping device would allow them to make the payments easily. You could also make provision for them to pay online beforehand or after they have received the services.

While a person hires a taxi service, the first thing they expect out of it is comfort and fast services

Accounting, Advertising

What’s The Best Tool To Manage Inventory !!

The success and failure of a business can be determined by the efficacy of the stock management practices it employs. Certainly, poor stock control can lead to cash flow problems. In fact, this may even lead to a business collapse. It is for this reason that you must manage your stock levels very closely.

Generally, plenty of the assets of small businesses are tied up in inventory. A field service company’s inventory can include any raw materials, work in progress and finished products they have and intend to sell in order to gain income. Determining how much stock your business really needs is where inventory problems often begin.

The main goal of inventory management is quick turnaround, ensuring low costs and guaranteeing customer satisfaction. Due to the fact that inventory management directly influences cash flow, you need to have a solution that will make sure that you are indeed managing your inventory properly. So if you think that your current inventory systems are causing cash flow woes, it is time for you to implement a system that does all the management and monitoring for you. In other words, you must have an effective tool to manage inventory.

Important Considerations When Choosing The Best Inventory System

Stock and Cash – With plenty of inventory at hand, your cash will be tied up and cannot be used for other important business activities. With an inventory tracking solution in place, you will know exactly what you have on-hand and if there is a need to order for more. Efficient and proven management systems will incredibly increase your cash flow whereas poor management will cripple your business.

The Type of Stock – You need to have a system that monitor what is selling and what is not. Fast-moving stock and goods can bring in cash faster while slow-moving inventory can actually restrict your cash flow. Thus, it is very crucial for you to know this slow-moving stock and consider evaluating it again if it really needs to be in your warehouse.

The Level of Stock – This refers to the volume of inventory that you maintain on hand for sale. Today, managing your stock does not necessarily mean that you must stock more than enough inventory in your warehouse. You must have a system that efficiently monitors what you have on hand and notifies you if it is time to restock.

Management, Marketing

Tips On How To Grow Your Small Or Independent Hotel 2016

Being in the hospitality business is not an easy task. This is an industry that is usually considered seasonal: your hotel will gain more business and profits during the summer season and on holidays.

Unfortunately, even during peak seasons, your small or independent hotel may still not earn as much as you want it to. And this is mainly due to your competition.

There are certain tips or ways small or independent hotel owners can follow so that they can increase or grow their business. These include the following:

Nearly all businesses today, including hotels, have online booking or buying capabilities. If you don’t have this feature, then you’re losing a lot of potential customers and of course, business. This means having an online reservation or booking system that is easy to use.

At present, you should have at least a Facebook page and a Twitter account that clearly displays your brand logo and name. Of course, you have to be sharing interesting and engaging posts at least once a day. By using these free social networking platforms, you get to reach out to potential customers and also bolster your credibility.

Always value your customers and their experiences at your hotel. Lastly, small hotels have a leg up since such establishments can provide personalized experiences for their customers. As such, it is important to find your unique selling point. If you are having a hard time finding unique yet valuable services to offer, focus on the special capabilities you have as a small business to make guests’ experiences truly personal and sell it.