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Boss vs Leader: Why You Should Choose to Be the Latter?

March 4, 2021/in Business News/by Top World Business

Boss vs Leader: The Latter is the Need of the Hour

The difference between boss vs leader has always been an interesting topic. If you are a new employee in an organization, having one over the other can make a world of difference to you. On the other hand, if you are in control of your employees, being a leader over a boss is vital for their growth and happiness in work.

In this blog, we will discuss the key traits that separate a boss from a leader. Similarly, we will learn why being a leader is a need at the present. At the end of the blog, you will find out what type of employer you are working for. On the other hand, if you are in a leadership position, you will find out what you look like to your employees.

Boss vs Leader: What Separates Them

While investigating the differences in boss vs leader, we have to understand a few common traits exhibited by both types of people. We discuss some of them in the following section.

Talking vs Listening

While discussing boss vs leader, the ability to listen is the primary trait that we will examine. Typically, a boss will talk more than listen and they will try to flaunt their knowledge even if it may not help you. Since you are a junior, you will have no option but to do what they say. On the other hand, a leader will carefully listen to your concerns and complaints first. If they have the expertise in the matter, they will recommend you a working solution. However, if it is out of their knowledge and experience, they might refer you to an expert or help you search for yourself.

Ego vs Humility

The traits of humility and ego are a no-brainer while discussing boss vs leader. Although both of them are provided with the same power and authority, the difference lies in how they apply them. Bosses exert their power just to bolster their ego and to create an environment where you cannot challenge them. If you confront them, even if they are wrong, your suggestions will be taken negatively. On the other hand, a leader exhibits a decent amount of humility. They are open to expressing their vulnerabilities and accepting when they are wrong. Furthermore, they have a strong attitude to consider many different viewpoints and learn from people around them.

Directing vs Influencing

Directing vs influencing is another major topic to discuss while investigating differences in boss vs leader. Both a boss and a leader are instructed by the higher authority to delegate tasks and make sure they are completed. In this case, a boss will only command you to do your task. Likewise, you must do what they say within the time allocated. Similarly, you will get very little authority to think for yourself and suggest improvements. On the other hand, a leader will influence you to utilize your maximum potential. They will allow some authority so that your thoughts and ideas may be integrated. Furthermore, they will make sure that you are happy in your contributions while simultaneously driving personal growth and development.

Why You Should Choose to Be the Latter

We have now learned the key traits that distinguish boss vs leader. Now, we will learn why choosing to be the latter is good for you, the employees under your control, and the entire organization.

Need of the Hour

The ability to console and influence people is the need of the hour. The devastation caused by the pandemic is both broad and deep. Many people are still in the trauma of losing their loved ones. The mental health of your workers might have degraded because of what they had to endure since the start of last year. This is even more severe in the case of frontline workers like doctors, nurses, cleanliness workers, and delivery and ambulance workers. Sometimes, there might be more important things in life than work. In such situations, you must adopt the traits of a leader and listen to your employees’ daily concerns. While you may not be able to extract your full potential during these troubling times, you can make sure that they are happy at work.

Friendly and Welcoming Workplace

The choice between boss vs leader is crucial in building the type of workplace. To create a friendly and welcoming workplace, the traits of respect and understanding should come from the leadership at first. In a friendly and respectful workplace, rich talents in several fields can thrive and productivity can rise to the top. Furthermore, such workplaces can adapt to the generational shift among workers. Most of the younger generation who are just entering the workforce have been brought up in a drastically different environment. Autonomy and happiness in work have become as essential as compensation and rewards. Therefore, if you only pass command and restrict freedom in exploring new ideas and opportunities, you will lose your talents in a short period of time.

A Win-Win Situation

When you drop down your ego and aspire to grow with the team, this becomes a win-win situation. First, your employees are always happy to come to work and maximize their talents to the fullest. Second, when you reduce the fear of failures and making mistakes, innovation will become a culture. Similarly, the message of good leadership will flow throughout the world improving the brand of your organization. This will help you hire top talents from all over the world. Most importantly, it is good for your own growth and development. When you are in a leadership position, you can learn from the best talents under you. The ability to accept and analyze different viewpoints will increase your knowledge which you may apply for personal gains in the future.

Business World in Your Fingertips with Top World Business

In this blog, we have learned about the key traits of boss vs leaders. Likewise, we discussed why people in leadership positions should aspire to become a leader, especially in these troubling times. Similarly, we saw how choosing to be a leader can become a win-win situation for the employees, leadership, and the entire organization.

Top World Business is a one-stop place for all the business-related news from every corner of the globe. Our aim is to keep you updated on recent and future business trends so you can use them to your advantage. Contact us if you have any further queries.

How to Manage a Hybrid Team for your Business

March 3, 2021/in Business News/by Top World Business

4 Useful Tips to Effectively Manage a Hybrid Team for Your Business

The pandemic has made it necessary for businesses to embrace new ways of working. Today, most employees work from home, with only a few essential staff physically attending their offices. This is the new normal in most organisations, with such hybrid teams consisting of remote and in-office employees.

Employees in companies are hesitant to return to work at their offices due to their health concerns. They love the flexibility that a hybrid model provides. From the business point of view, such a model offers several benefits like maximisation of staff productivity and cost savings. However, it is not easy to manage a hybrid team since it poses some challenges.

This article is a guide that sheds light on the challenges a hybrid team faces and shows how you can manage them.

Challenges While Managing a Remote Team

Remote Staff May Not Get the Work Support They Need

Employees who are physically present at their offices have more access to information than remote staff. They understand what goes on in their offices, the significance of their work, and its impact on their businesses. Contrarily, in hybrid teams, informal communication is absent, and the remote employees most often do not know what is happening at their offices. Reaching colleagues becomes a complex task as people are confined to personal space and may not always be a call away. All these may make them feel a lack of support in their work and causes them to lose their sense of purpose.

They Feel their Employers are Partial to In-Office Staff

In a hybrid work model, remote employees may feel they are being given unfair treatment. In many organisations, remote employees often receive lesser promotions and raises than in-office employees. The staff may feel that their employers are focusing more on the number of hours spent in the office rather than the amount of work done. Thus, they may feel a lack of appreciation for their work, which brings down their morale. They also would like to get assurances about opportunities for career advancements in their jobs.

A Sense of Loneliness

Remote employees often experience isolation since they cannot interact with other employees and have to work for long hours alone. They miss the informal chats with other employees at canteens or water coolers at breaks from work. Furthermore, they can feel stressed as they feel out of touch with others. Such a setting can demotivate them and prevent them from giving their best to their work.

Tips for Managing a Hybrid Team Effectively

As the manager of your hybrid team, you can easily overcome these challenges by employing the right strategies and tools.

Keep your Remote Staff in the Know

Sharing business information with your remote team is vital to make them understand the significance of their work. Install tools by which the employees get information about the project they are doing and the progress. With more involvement and transparency, the remote staff will feel more responsible for their work.

Treat Remote Staff Fairly

Make your business processes more inclusive and ensure that both remote and in-office employees get the same experience. Remove any arrangement that will have a negative impact on the remote staff. Give opportunities for the entire team to meet together at least once every year. Let the remote staff join others in celebrations or training programmes. They need a platform where they can conduct informal chats, bond with each other, and catch up with the latest developments at their office.

Employ the Latest Tech Tools to Improve Collaboration

Provide your hybrid team with advanced tools that will increase productivity and team collaboration. Use project management tools that will help you organise your work and assign tasks to employees. Install tools that will enable employees to access and share information easily. Invest in the latest equipment like a camera, microphone, or speakers for zoom meetings and laptops so that you can conduct video meetings in a better way.

Make Work Less Stressful and More Enjoyable

These are anxious times, and every employee has things to worry about, such as their family members’ health or education. It is essential to make things less stressful by introducing some fun into your work. You can arrange informal Zoom meetings where employees can have informal chats talking about their family, pets, or the latest movies or net series. This will help foster a sense of community and improve team bonding. In the long run, it will translate into more productivity and achievements of goals for your organisation. Provide more support to your employees by listening to their worries and offering solutions.

Conclusion

You can successfully manage a hybrid team following all these tips and reap the benefits like cost savings, productivity, and satisfied employees. By utilising the latest tools, managing your hybrid team will not be so challenging, and you can enhance better team collaboration.

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Why We Cannot Ignore Mental Health in the Workplace Anymore

Why Should Managers Care About Mental Health in the Workplace?

March 2, 2021/in Business News/by Top World Business

Reasons Why We Can’t Neglect Mental Health in the Workplace Anymore

Proper mental health in the workplace refers to the state where each employee realizes their full potential. The concept of ensuring good mental health in the workplace is not new. Businesses have invested fairly and tried several methods to ensure their employees are happy and in a positive state of mind. With a sound state of mind, employees have the ability to cope with difficulties and make meaningful contributions that they are proud of.

Factors Affecting Employee Mental Health

Before managers turn their attention to methods and practices to improve mental health in the workplace, they must understand the key underlying factors. There are several factors contributing to the state of employee’s mental health. Some of them are discussed below.

Workplace Culture

Workplace culture is one of the primary factors impacting mental health in the workplace. In a culture where respect and honesty prevail, employees have a positive outlook on their work and future. Meanwhile, a workplace that supports healthy competition and mutual support will catalyse the growth and development of all employees.

Workload

It is self-evident that workload is going to be one of the key factors affecting mental health in the workplace. Therefore, managers should be well aware of the workload assigned to each of the employees. After all, a heavy load might damage the work-life balance which ultimately leads to degraded mental health. On the other hand, people might develop self-doubt if the work being given is not up to their standards and talents.

Compensation

Proper compensation for the work done is always a determining factor of mental health in the workplace. If your employees are always worried about paying their bills, you cannot extract their full potential. Likewise, respectable compensation is always necessary for a healthy company-workers relationship. Furthermore, your competitors might swipe away your best performers if you do not give what they deserve.

Engagement and Recognition

In a large company building complex systems or offering complex services, employees might get confused about their contributions. This is because hundreds of people are working on small pieces of a large puzzle. It is up to the employers to help employees recognize their contributions. Likewise, proper engagement is crucial to maintain a strong level of motivation. Most importantly, they must feel that working with you is also contributing to their own growth and development.

Why Must Mental Health Be the Manager’s Top Priority?

Since the early days of 2020, we have been hit by one of the worst disasters in human history. The coronavirus pandemic has put a full stop on normal life. Likewise, it has caused the deaths of millions of people. The decline in mental well-being is rapid and it is set to create an even greater loss of money. For employers, working for better mental health in the workplace is compulsory and time is running out. The following are the major reasons why employers must act right now to safeguard mental health in the workplace.

Troubling Times

In the wake of the coronavirus pandemic, mental health has taken a serious toll among millions of people worldwide. There is great fear about the devastation caused by the pandemic. Millions of people have been facing the trauma of losing their loved ones. For those working from home, there is a loss of human touch and interaction. Likewise, for those working on the frontline, there is a fear of contracting the disease. We have already seen the severe toll on the mental health of healthcare workers like doctors and nurses.

Furthermore, as the economy spiralled downwards in the wake of the pandemic, millions of businesses were hit. Many of them went bankrupt and even large organizations had to cut down on their employees. Even for those who still have a job, there’s growing uncertainty about the future and a fear of being made redundant.

Saves Time and Money

It is a well-known fact that companies are losing money because of the problems in mental health in the workplace. It is estimated that more than 300 million people suffer from mental illnesses like anxiety and depression. Similarly, this is also a reason for growing substance abuse. This leads to a loss of over 1 trillion dollars in terms of productivity.

Affects Image of the Company

The consequences of avoiding mental health in the workplace go way beyond productivity and output. How you treat your employees and how much you care is also a major factor contributing to your brand image. If you are a notorious employer, you cannot hire top talents and you might even lose customers.

How Managers Can Act Quickly?

Now that we have understood the financial implications of ignoring mental health, let us discuss how managers can quickly get in the act.

Break Down the Stigma

The first action managers can take to safeguard proper mental health in the workplace is to break down the stigma. Mental health is one of the less frequently talked about topics in the workplace. Therefore, managers should bring normalcy in talking about major concerns and illnesses. This will also create an environment of mutual support among the employees.

Create a Thriving Work Environment

The second step is to create a thriving work environment. If someone is investing 8 to 10 hours of a day at work, they must feel a great deal of satisfaction and personal development. Likewise, companies should allow employees to make mistakes and learn from failures. For those struggling with work, you can provide extra support and guidance. Make rotations for the bored. Furthermore, those who thrive in challenging environments, provide challenging works.

Stay Updated with the Business World with Top World Business

In this blog, we have learned about the importance of proper mental health in the workplace. Likewise, we discussed the major factors impacting employee’s mental health. We put a major focus on how the coronavirus pandemic has caused extra stress among employees. Lastly, we suggested how managers can quickly get in the act by listening and creating a discussion-friendly environment.

Top World Business is a one-stop place for all the business news from every corner of the globe. Our aim is to keep you updated on recent and future business trends so you can use them to your advantage. Contact us if you have any further queries.

How Big Data Analysis Will Help Achieve Your Business Goals

March 1, 2021/in Business News/by Top World Business

Importance of Big Data Analysis for Your Business’ Success

In modern times, running a business means you need to keep up with the latest technologies, such as data analysis. Without data analysis, you will have to collect, curate, organize and analyze every piece of data. Today, we will help you understand what big data analysis is and how beneficial it is for you and your business.

What is Big Data Analysis?

Big data is a collection of an immense amount of data that requires powerful processors. The data provides analytics that can enhance decision-making and process optimization, giving your business an advantage. Data analysis covers both qualitative and quantitative information that might help your business.

With big data analysis, you can access trends, preferences, and patterns regarding your business. That information can help you innovate unique products and services that can improve your customer experience.

Why Do You Need Big Data Analysis in Your Business?

Let us start with your customers. By using data analysis, you can have a deeper understanding of your market. It means that you will have access to relevant information regarding the channels that they use to communicate with you, their demographics, interests, behaviours, and more.

Data analysis can provide insights that will help you identify potential customers and how you can approach them in terms of marketing strategies. Thanks to data analysis, efficiency is easier to achieve than ever.

For your management, the qualitative and quantitative insights from data analysis can help with your decision-making. It will also serve as your guide when it comes to knowing where to invest and identifying growth opportunities. Thanks to its valuable insights, your management can also predict income and forecast risks.

Advantages of Using Big Data Analysis For Your Business

Aside from the reasons why your business needs big data analysis, you can reap more benefits from it, which are the following:

Big Data Analysis Will Help You Set Realistic Goals

We all have goals for our business, but we will end up guessing them without relevant data.

Big data analysis will help you gather data from your historical trends and activities. It will help you have a clear direction on where you want to take your business based on the past data. Having realistic goals will enable you to create a concrete plan and manage your opportunities well.

Big Data Analysis Improve Customer Retention

According to stats, 77% of brands could disappear from the world if their existing consumers wouldn’t care.

Every business should value its customers as its most important asset. Having access to big data analysis will give you customer-related patterns and trends. Why is this important? If you want to gain your customers’ loyalty, you need to know how they behave.

High customer retention means you know what your customers want from you. Customer relationship is critical because it can affect your business, especially in terms of profit and branding.

Big Data Analysis Enhance Service Level Performance

In line with consumer demands, big data analysis can provide traffic patterns and better customer service. Achieving effectiveness and efficiency should start from the performance of your employees or processes.

Big Data Analysis Boost Revenue Growth

Resource effectiveness and efficiency will drive revenue growth, and analytics play a critical role in this. You can use data analysis in monitoring e-commerce and marketing activities. It will provide you with relevant data to make data-driven decisions, especially in finding what marketing strategy to adopt.

Big Data Analysis Minimizes Costs

As we maximize our revenue, we also want to minimize our costs. Every business invests in different resources, such as data analysis, so you need to choose them well.

Big data analytics will provide insights that will help you determine the right strategy to use in various situations. With this, you can maximize your investment and minimize the risk of costly overheads.

Critical Elements in a Strong Data and Analytics Strategy

Let us move on to the critical elements of good data analytics. You already know the power of big data, and learning how to use it effectively will help you maximize the benefits. Here are the main points that you should expect in a robust data strategy:

How You Want to Use Data

Before utilizing big data, you first need to know what you need and how you want to use it. You can start by aligning your data with your goals and other relevant aspects of your business.

Where You Gather Data

Knowing where to source out data is a crucial step. You must ensure that your sources of data can have relevant contributions to the information that you want.

How to Transform Data Into Insights

Since big data involves an immense amount of information, knowing how to use it correctly will allow you to extract meaningful insights. The insights should help you in your decision-making and should contribute to the value of your operations.

How to Protect Your Data

As the saying goes, information is power. You also need to know how you can protect your data. Big data analysis may contain personal and sensitive data, so you should protect them legally.

Investing in Big Data Analysis

To sum up, we can see how big data analysis plays a vital role in your business. Among all your investments, this tool will be helpful for you in the long run. Big data can also help you strengthen customer relationships and assist you in achieving your business goals.

You can visit Top World Business for more business news.

Malaysia’s Finances Under Control Despite the COVID-19 Economic Recovery Plan

January 22, 2021/in Business News/by Top World Business

Malaysia’s Financial State is Still Manageable

The COVID-19 Economic Recovery Plan may have caused the government to overspend, but Malaysia’s finances are still under control.

Economic Recovery Plans Introduced to Boost the Economy

Several months ago, Malaysia introduced the Prihatin Rakyat Economic Stimulus Package 2020 (PRIHATIN) and National Economic Recovery Plan (PENJANA). This was to help businesses in need who were affected by COVID-19. The plans were worth RM295 billion. On top of that, there was an RM45 billion fiscal injection, aimed at spurring the economy. This was after the economy experienced a contraction.

Studying the Fiscal Impact of the Economic Recovery Plan

Malaysia’s moratorium finished on 30 September 2020. The country is now moving toward a targeted moratorium. Since April to May, the country’s GDP has shown recovery from the initial contraction.

Those affected should be able to contact their respective banks and financial institutions to arrange for a reschedule or restructuring of their loan. Should they run into problems, they can reach out to the Counselling and Debt Management Agency.

How to Turn Freelance Writing into a Full-time Business

January 18, 2021/in Business News/by Top World Business

How Can You Improve Your Income Flow By Becoming a Freelance Writer?

Anyone who wants to know how to transform freelance writing into a full-time business should first know their big “why?” This is because not everyone who wants to turn into a home-based writer will be able to make the transition. Some people lack writing skills so they need to learn how to write well first. Others may still be clueless about the demands that freelance writing imposes on the writer. If you are uncertain about your “why?” you should think carefully before you jump in.

Turning Your Profession Into an Enterprise

For some people, changing their freelance writing into a full-time business is easy because they are ready for it. They have their own laptop or desktop computer, home-based and portable net access, personal bank account, and other necessities. The only thing missing is them. If this sounds like you, then congratulations! Half the battle has been won.

However, don’t rush in if you don’t have all that yet and are still heavily dependent on your day job for steady income. You should also hesitate if you have no idea where you can get clients online or in real-time. You need some preparation so that you don’t fall flat in your first writing job.

Tips For Transitioning Into a Full-Time Freelance Writer

It is very easy to make mistakes if you aren’t ready for transforming freelance writing into a full-time business. It helps if you ask a close friend to read through your plans to see if they make sense. You may also rely on these tips too.

Develop Your Own Blog site – You don’t have to be a master web developer for this. You may be able to find free blogsite platforms online where you could post information about your freelance writing business. You could also post your portfolio on your blogsite. The benefit of this is that people will find you online and become interested enough to hire you.
Find a Niche – Some writers are blessed enough to be able to handle any niche that comes their way. But other writers prefer to focus on a particular subject since this makes their writing efforts easier to categorize. Try to think of what you like to do. That may be your niche. It is generally better to write about subject matter that you enjoy learning about. This helps keep you motivated to write more about that niche.
Create a Timetable – How much time do you intend to devote to writing tasks on a daily basis? Will you be keeping your day job for the first year? Or do you intend to discard your day job right away? These are three important questions because some writers are able to devote their energies full time to writing. Others may opt to keep a part-time day job while taking on small writing side-hustles.
Create a Contingency Plan – How will you survive if you don’t get that many jobs right away? How long do you intend to remain in freelance writing gigs? The answers to these will influence your writing goals. The worst thing that can happen is that you don’t get any clients. The best thing that can happen is that your writing career will soar and you become self-supporting.

How the Pandemic Became a Godsend for Freelancers

Many companies were forced to downsize their operations after the pandemic hit this 2020. But after large companies shrunk down to medium-size, or even became small-time players, their leaders realized that there was room for growth. So they started hiring freelancers. This helped the freelance writing industry especially since many unemployed workers started to become freelancers.

It can be said that the pandemic actually benefited the freelance writing industry a lot. It also gave company leaders food for thought about how big their operations really have to be. It showed that some large-scale operations function perfectly well even with a skeleton crew only.

If you need business news for the industry you are working in, you may turn to Top World Business. We may have the news you need right when you need it.

Welcoming the Transition from Traditional Book Publishing to Digital Publishing

January 15, 2021/in Business News/by Top World Business

Why Book Lovers Should Rejoice Over Switch of Traditional Book Publishing to Digital Publishing

The world seems to be switching from traditional book publishing to digital publishing. This means old-fashioned books made out of paper and ink are being phased out in favour of electronic books. The transition heavily favours book lovers, even those who are more used to hard copy books. So keep an eye out for digital publications now, due to the many advantages.

What Publications Will Be Covered By Digital Publishing?

As mentioned, you can expect regular books (fiction and non-fiction) to fall under the aegis of digital publishing. But other publications such as periodicals, journals, manuscripts, and articles can also be considered covered by digital publishing. In fact, anything that has words in it can fall under the category of digital publishing. The only requirement is that your digital gadget can display it for easy reading.

What are the Most Useful Advantages of Digital Publishing?

The shift from traditional book publishing to digital publishing is beneficial because readers don’t have to hunt through many pages to find what they need. There are search functions in ebook readers. A related advantage is that an author can easily edit their manuscript through this same search function. A reader, such as a student, can spot the needed information, note down which page it’s on, and make a citation. You can do in seconds what used to take an hour.

Another benefit is that a book collector won’t need vast amounts of physical space to store all their books. The ebook reader gadget can store multiple ebooks and other e-publications for easy portability. So you will only need to bring along an ebook reader to access your book collection anywhere.

You should store your digital files carefully where there are no moisture, dust, and insects so that digital files will last indefinitely. On the other hand, you can lose your hard copy books stored in your private room if they get wet and rot or termites invade.

One very useful function of an ebook reader is that you can embed audio files within your ebook. So you can embed your audio insight within the ebook itself if you want to make a note about a certain passage. This means you won’t need to write your thoughts on paper pages anymore. Blind people may benefit from this the most, since they may be able to listen to audio files anytime.

There are some book lovers who support the shift to digital publishing because too many trees are being felled. This is the biggest disadvantage of traditional publishing nowadays. So you have an advantage with your ebook reader if you want to move away from traditional book publishing to digital publishing.

What Kind of Gadgets Can Access Digital Publications?

The ebook reader is the first option mentioned earlier. But you can also rely on other gadgets as your digital file reader. This includes smartphones, tablets, laptops, desktop computers, and possibly new devices that will eventually be introduced in the market. As long as your gadget can access and display digital files, then that is a legitimate form of digital file reader.

The South Africa Experience

At this point, there is no fool-proof prediction about whether traditional publishing will go extinct soon. But it seems more and more publishers are switching to digital publishing due to perceived demand. The South Africa experience reveals one potential problem. South African publishers saw that publishers need to transition more publications into digital format since demand is growing. But demand is still building to the point wherein all hard-copy books are going to be phased out. The fate of traditional publishing is still a toss of a coin, or a 50/50 situation, at least in South Africa.

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Growth of the Recycling Industry: Opportunities and Challenges

January 12, 2021/in Business News/by Top World Business

Growth of the Recycling Industry: Why Should Consumers Be Aware of the Trends?

The average consumer is probably not that aware of trends within the recycling industry. After all, most people are probably worried about other things right now, like losing their jobs during the pandemic. However, the growth of the recycling industry is important because the opportunities and challenges affect everyone. This is true even on a global level.

What Are the Opportunities?

There is a clear opportunity right now to influence the growth of the recycling industry in the area of sorting and collection of recyclables. The most obvious opportunity is the education of consumers so they will be motivated to sort, standardize, and collect recyclables at the point of collection. In some places, this is easy because the consumers who reside there are already concerned about the impact on the environment.

Another opportunity that has cropped up is the education of recycling industry employees. Employees who are aware of their role in saving the environment may be more motivated to work in a recycling facility. They will know the value of their jobs, aside from being the source of their salaries. If they are given more training in recycling tasks, this may lead to an increase in their compensation. The manager of the recycling industry may also be more inclined to retain trained and motivated employees for the long term.

What Are the Challenges?

One challenge that can affect the growth of the recycling industry is the changes in technology for manufacturing containers. Take, for example, a laminated paper cup used for coffee takeaway. Some recycling facilities have the right technology for separating the paper from the plastic laminate covering. But other facilities might not have that technology. This may result in facilities forwarding discarded paper cups to landfills instead of these being processed for recycling.

Another major challenge is that facilities need personnel who are familiar with the machines and processes used in recycling. This is necessary so that there is no avoidable downtime when machines or processes develop problems. It may be necessary to train personnel on the job for this, or at least conduct on-the-job exposure. The operations manager might be the prime candidate for such training. Other employees may show the right capabilities for this aspect as well.

The Good Example Set By Sweden

Although not promoted prominently on a global level, Sweden pushed for active recycling and resource recovery efforts. The country accomplished this through its national legislation, as well as its policy framework. This seems to be a pattern in other countries in Europe as well. It all begins with having the right motivation to look for solutions.

Recycling, like any other industry, has to contend with cost issues as well. The more challenges that crop up, the more costly it gets. Fortunately, consumers may be getting wiser about what containers and packaging their food and things come in. So this may mean consumers will be leading the way to spark positive changes within the global recycling industry. Industry players may also be able to find positive solutions to encourage further recycling efforts throughout the world.

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5 Jobs Rendered Obsolete in 5 Years

January 9, 2021/in Business News/by Top World Business

Jobs Rendered Obsolete: The 5 Occupations That Will Be Eliminated by 2025

The five jobs that you can probably expect to be eliminated in the next five years are the following:

Data entry clerks
Bank tellers
Telemarketers
Labourers in manufacturing jobs
Cashiers

Why Will These Jobs Be Phased Out?

If you look at the prediction regarding jobs rendered obsolete, one fact stands out. These jobs all require only a high school education. Some might require just vocational training. This means that machines will be able to take over that function through the automation of business processes. It also means that some more highly-trained employees may be able to assume that function, in addition to their other tasks.

Why Are Employers Phasing Out These Jobs?

The first reason for jobs rendered obsolete is “to save money”. The business world is becoming more competitive lately so employers want their workforce to be lean, talented, and skilled. The human resources manager will also prioritize a worker who has the right talents, skills, and additional training needed by the business. A worker who only has a high school education or vocational training will probably not make the cut.

Why Are Employers Opting for More Automation?

An employer may pursue business automation because the company will probably require fewer workers. The automation will result in a less expensive business, with fewer workers to compensate. It is also easier to monitor an automated business, compared to a business with many workers. Employers might also be hoping for fewer problems with manpower, such as employees asking for more employment benefits.

How Employees Can Prepare For Job Cuts

Think ahead if your job might be one of those jobs rendered obsolete and will disappear soon. You need to anticipate what you can do to avoid unemployment right away. One option is to pursue additional training in a good school. This will require an investment of money, time, energy, and other resources. You may also approach the manager of the company or organization where you work to inquire about other positions that might be opening. The point is to be proactive.

Coca Cola Aims to Slash Workforce by 2200 Jobs Globally

The most recent news regarding company layoffs involves the giant soda company Coca-Cola. The beverage company is aiming to save millions of dollars by reducing the size of its workforce by about 2200 jobs. The pandemic is partially to blame for this development. However, the soda company also revealed that management believes the organization has to become leaner and more competitive. Coca-Cola hopes to achieve that through this most recent decision.

If you think it is necessary, prepare your family this early for the prospect that you might be let go. Inform your spouse or partner first in private. You need to anticipate the loss of income so that you know how to reorganize expenses. If you have children, you may have to withdraw them from school until you can find legitimate work that will last for a reasonable time.

You can also ask around your network of social contacts to see if there are any jobs you can try out there. Take note that this doesn’t mean you will be in that new job forever. This will just be to tide you over until the economy picks up or you find a better occupation. It is better for you to look ahead than wait until you are let go.

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Multi-level Marketing Myths and Misconceptions – Debunked!

January 6, 2021/in Business News/by Top World Business

Debunking the Biggest Multi-level Marketing Myths

One reason for the existence of multi-level marketing myths is that people want to believe them. If nobody wanted to believe in these “untruths”, then these would die a natural death. On the other hand, if you are convinced the MLM (also called network marketing) model is a legitimate form of business, then you will work double-time to spread the good news.

Myth #1 Multi-Level Marketing is Just a Scam Business Model

Many people actually consider MLM or network marketing as just another way of describing “scams”. This isn’t true. Many people survive on MLM activities yet provide a legitimate set of products that the public can use and enjoy.

Myth #2 Multi-Level Marketing is Actually a Form of Pyramid Scheme

This is the most damaging of multi-level marketing myths because of the similarities in the activities. You know that it is a pyramid scheme if you are required to bring in a lot of recruits to pay money as their entry fee, but there are little to zero products to sell. The company requires these recruits to bring in their own recruits, also to pay the entry fee. The company continues this cycle until there are a lot of recruits who have all paid the entry fee, but no selling is being done.

A legitimate MLM company actually offers great products to the public, which is why it’s not a pyramid scheme. It is providing a valid service to people. A pyramid scheme does not do that.

Myth #3 Multi-Level Marketing Benefits Self-Centered People Only

Multi-level marketing myths seem to destroy legitimate sales networks by asserting that MLM business people are just using their family and friends to make a quick profit. A legitimate MLM business should supply products that your family and friends will truly benefit from, at a fair price. MLM should remove the many layers of business activities so that the products can be sold at a good price so that the company, the customer, and the MLM person benefit.

Myth #4 New MLM Recruits Never Benefit From Their Networks

In a true MLM scenario, a new recruit needs time to develop a robust sales network. But in MLM, the faster you build your network, the more rewarding your MLM system will become. Yes, your many uplines will be reaping more financial rewards when you are just starting out. In time, if you do your work and are able to recruit enough people, you will also be rewarded financially by the company.

The FTC Attempts to End Deceptive Marketing By 16 “MLM” Companies in 2020

One major problem that the FTC of the US has encountered is that certain companies claiming they are MLM businesses are making “deceptive claims”. These companies have continued to make illegal claims about income and health gains despite being warned by the FTC of regulatory action.

These companies claimed that:

A recruit can earn substantial amounts of US dollars if they join the network.
They sell products that benefit public healthwise. But there is no scientific evidence that the products can “cure” the illnesses cited in the ad or testimonial.
They sell products that can halt, prevent, or cure covid-19 infection (in relation to the ongoing pandemic).

Some of the claims prey on the vulnerability of the public. The most at risk are those looking for an alternative source of income. One common claim is that the new distributor will be able to “work from home” yet earn more income. There are also vague claims that the distributor will eventually be able to “fire their boss” or “live a relaxed lifestyle”. The problem with these claims is that they are not realistic and thus are “deceptive claims”.

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