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Home Blog Page 11

How to save money for a house deposit?

July 3, 2023

Moving house is an exciting milestone in your life but before you start packing up your belonging, you need to make sure you have enough money for the deposit. In most cases, you will need a deposit of at least 5% of the house price but the average property deposit is 15% in the UK for a first-time buyer.

At first glance, this can seem challenging but it’s not impossible if you put the right saving strategies in place. Saving for a deposit on a house could take you anywhere between two and 15 years, however, this all depends on how much you put away each month. For example, if you’re putting down a deposit of £10,000, you’ll need to be saving £265 or more a month.

Cut the costs of rent

This is easier said than done but cutting the costs of your rent can help you get on your way to living in a new home. You can save money by living with roommates or friends to divide fees on a conventional rental, including bills, council tax, and other amenities. There will also be opportunities to negotiate shared costs too, such as if you have a smaller room than other tenants.

Co-living is another good option that can save you some pennies. This involves just renting a bedroom and sharing communal spaces with other tenants. You can rent the space as an individual tenant and bills are usually included which makes budgeting easier in the long term.

Cut down on everyday spending

Becoming a savvy saver will see a healthy addition to your deposit funds every month so you should find areas to cut down on your monthly expenses where you can. It helps to first develop a solid overview of your spending month to month to find sections where you are overspending. This could be as little as cutting out that daily cup of coffee or limiting yourself on non-essential purchases.

Comparing energy packages to find the best deal could also make a sizable dent in your expenses. Cheaper tariffs for other bills like your phone and broadband will also be helpful.

Government support

You can look to see if you’re eligible for a government grant to take some of the pressure off. Help to Buy schemes and shared ownership plans are designed to help first-time buyers get a foothold in the estate market.

Shared ownership allows new buyers to purchase a share of a new build or resale property and pay a mortgage on that share alongside a subsidised rent to a housing association on the remaining share.

Using LISA

Lifetime ISAs or LISAs are saving accounts that help people save for their first home or retirement. The UK Government provides a bonus of up to £1000 per year until you reach the age of 50 and there are current interest rates of around 1 per cent.

How Telematics Solutions Help Prevent Road Accidents?

Sarah Cantley

June 28, 2023

Tracking your fleet of vehicles is the first step to reducing road accidents and improving safety and efficiency across your business.

How Telematics Solutions Help Prevent Road Accidents

With 126,247 road traffic accidents reported in the UK every year, the need for safe driving is paramount. Telematics solutions offer a proactive approach to tackle this issue by empowering drivers and fleet managers with the tools and insights necessary to prevent accidents.

Telematics solutions have been revolutionary for fleet managers, allowing them to become control and prevent road accidents. They offer a range of clever features, from real-time monitoring to driver behaviour analysis. Here are some of the ways that telematics solutions can help pave the way for safer roads and better driving.

Real-time monitoring

Telematics solutions have revolutionised the way road accidents can be prevented by providing real-time monitoring of vehicles. By utilising advanced GPS technology and wireless communication, these systems enable continuous tracking of vehicles on the road. Fleet managers and supervisors can monitor the location, speed, and route of each vehicle in real-time.

This allows them to identify any potential risks or deviations from safe driving practices promptly. For example, rapid acceleration and high speeds can be quickly flagged so the driver can receive additional training or disciplinary procedures. This way, real-time monitoring helps ensure that drivers adhere to traffic regulations, follow designated routes, and maintain safe driving behaviour at all times.

Driver behaviour analysis

Telematics solutions play a crucial role in analysing driver behaviour to prevent road accidents. By collecting and analysing data on acceleration, braking, cornering, and speed patterns, these systems can generate comprehensive reports on driver behaviour. Fleet managers can then identify risky driving habits using this data such as harsh braking or excessive speeding.

With this information at hand, they can provide targeted training programmes to drivers, emphasising safe driving techniques and addressing areas that require improvement. By promoting responsible driving behaviour, telematics solutions help reduce the likelihood of accidents caused by driver error.

Speed management

One of the leading causes of road accidents is speeding. Telematics solutions incorporate speed management features that monitor vehicle speed. By setting predefined speed limits, these systems can alert drivers whenever they exceed the safe speed threshold with an audible in-cab warning. By actively managing and enforcing speed limits, these systems significantly reduce the risk of accidents caused by excessive speed.

Maintenance

Regular vehicle maintenance is crucial for ensuring roadworthiness and preventing accidents. Telematics solutions with in-built vehicle checklists help with regular preventive maintenance and reduce the risk of accidents due to faulty vehicles. Fleet managers can set the details and timeframes of the vehicle checklists, including all the important aspects that they want the driver to check before they set out on the road.

Geo-fencing and route optimisation

Telematics solutions offer geo-fencing capabilities, allowing fleet managers to define virtual boundaries or geographically restricted areas for vehicles. When a vehicle enters or exits these predefined areas, the system triggers notifications or alerts. This feature helps in enforcing compliance with designated routes and prevents unauthorised vehicle usage which could lead to road accidents.

Additionally, some telematics solutions provide route optimisation features that consider factors like traffic conditions, road closures, and other real-time data to suggest the most efficient routes for drivers. By optimising routes, these solutions minimise the chances of drivers getting lost, encountering congested roads, or taking unfamiliar routes that may increase the risk of accidents.

Driver accountability and awareness

Telematics solutions foster driver accountability and awareness by providing drivers with visibility into their own driving behaviour. By accessing their own telematics data, drivers can review their performance metrics, including speeding incidents, harsh braking events, and other risky behaviours. This self-reflection promotes accountability and encourages drivers to be more mindful of their actions on the road.

Telematics solutions also enable fleet managers to share performance reports and feedback with drivers, fostering a culture of safety and continuous improvement. By promoting driver accountability and awareness, telematics solutions contribute to preventing road accidents through individual responsibility and a shared commitment to safe driving practices.

Conclusion

Telematics solutions are a game-changer in preventing road accidents. By improving driver behaviour, ensuring vehicle maintenance, and optimising fleet management, these advanced systems contribute to safer roads. Telematics solutions such as Crystal Ball’s Vehicle Tracking System provide a range of different features for fleet managers to monitor and manage their fleet more effectively, from car tracking and HGV/lorry tracking to van tracking and more.

Why Your Company Needs Key Person Insurance?

Sarah Cantley

June 27, 2023

Why Your Company Needs Key Person Insurance

Businesses often need several different forms of insurance to protect themselves and their employees. Fleet vehicles require insurance. And assets need to be insured also.

One area of insurance that many business owners may not be aware of involves protecting against the loss of key employees. If a business loses an integral member of its team, it can have wide-reaching repercussions.

Losing a key employee prematurely won’t only be emotional. It could be financially disastrous for a small enterprise. Even big businesses are impacted when they lose key members of the board or heavy-hitting sales staff.

What is key person insurance?

This type of cover is effectively a life insurance policy. Businesses may take this policy out to protect against the sudden passing of certain vital employees.

This type of insurance provides an amount of financial protection for businesses which they may need when they lose key employees. Key person insurance may also protect against serious accidents or disability. In the event that a key employee is no longer able to work, the insurance policy will pay out.

For a better understanding of the basics of key person insurance, you can gain further information and quotes here. However, this brief article aims to give you an outline of why your business would benefit from key person insurance.

How does key person insurance work?

A business’s owner selects key employees they feel are integral to their business operations. Insurance policies are then signed and paid for. If one of these employees becomes incapacitated or dies, the insurance provider will pay out.

Just as with all types of insurance policies, the cost will be determined by a number of factors and metrics.

Factors determining the cost of key person insurance

The amount of cover needed
Smoker/non-smoker
Employee’s responsibilities
Employee’s salary
Employee’s current and past health
Employee’s position
Employee’s age
The nature of your business

The criteria will be largely similar to standard life insurance but with a few exceptions. The impact made by the loss of the employee will have a bearing on the cost of the policy, and the amount paid out. Costs will be incurred with the loss of a key worker, and these need to be covered by the insurance policy.

Risk factors will be assessed too. How old the employee is and their current health will determine the cost of your insurance policy also.

About 20% of UK businesses close in the first year. This is often due to cash flow or financial problems. The money paid out from key person insurance should enable your business to operate as usual in the event of losing a vital employee.

What is the importance of key person insurance to your business?

Key person insurance provides financial protection. If your business loses a vital member of the team, you might see a significant financial impact. Your business may also struggle to keep making progress.

You may be planning to take your small enterprise to the next level. But, losing a vital technical expert or the top salesperson may result in the wheels coming off, at least for a while.

Some gains from key person insurance are as follows

Business continuity
Peace of mind
Protection for shareholders
Financial protection
Creditworthiness
Reputation

The payout from key person insurance will help to manage debts and result in maintaining a good credit rating. Your business’s reputation will remain intact as orders are met, and suppliers paid as usual.

Shareholders are equally protected by the continuity of business operations. And of course, you will have a certain amount of peace of mind that insurance brings.

The risks of losing key employees and the impact on your business

No insurance policy can safeguard against losing a valued employee. But, key person insurance will protect against the financial impact at least.

There is great importance on employee wellbeing now. As there should be. However, life sometimes delivers unpleasant surprises. There are a number of risks in losing key employees, and not having insurance in place.

Loss of competitive advantage

When a key employee is highly knowledgeable and talented, they may be somewhat unique. Losing them could put development behind and weaken your business’s position in its market.

Disruption to daily operations

As mentioned above, continuity is vital in business. Losing key employees may hinder daily business operations and cause delays.

Businesses will be disrupted by the need to replace such important employees. And the loss of a respected key worker may lead to lower staff morale. Some things can’t be fixed with key person insurance, but a payout will help your business return to normal as soon as possible.

Who should you cover with key person insurance?

Key person insurance is generally aimed at those employees who are vital to the success of a company. To this end, the people you choose to insure will be entirely down to you.

Typically, the following might be insured

Executives including the CEO or CFO
Founding members
Top salespeople
Anyone with unique skills
Technical experts

Someone heavily involved in past and present research and development may warrant key person insurance. Your top product designers and the board of directors too.

What financial benefits are there for key person insurance?

Insurance policies tend to pay out either one lump sum or an annuity. This will be made clear when the policy is drawn up. And obviously, this provides some financial protection.

The financial benefits include replacing lost revenue, and covering debts due. Being able to continue operating should ensure your share price remains stable also.

One financial benefit is recruitment.

When you lose a valuable employee, a replacement will be necessary. The average cost of employee recruitment is £3,000. Replacing a talented and top-level employee could be significantly more.

Scouring for a suitable replacement for your CFO for instance, could take considerable resources and time. Key person insurance gives financial protection against these costs.

When should key person insurance be put into place?

Visiting mykeymaninsurance.com gives a few insights into how key person insurance should be utilised. Key person insurance should be taken out when an employee is first hired in some instances.

If your business has headhunted a highly talented individual, then key person insurance could be taken out straight away.

In many cases, businesses take out policies on key employees once they become invaluable. If your business is relying on the skills and knowledge of any particular employee then it is time to insure against their loss.

It is vital that insurance is taken out before any unexpected event occurs. The best practice would be to review key personnel regularly and decide whether insurance is warranted. When insurance policies are already in place, this review helps to establish if any situations have changed. Therefore, you will have a chance to adjust insurance cover accordingly.

Summary

Key person insurance is a vital type of cover for any business reliant on certain personnel. The loss of a valued employee will be emotionally distressing. But, it also causes serious financial implications for businesses too.

You can protect your business with key person insurance in many ways. Your business will be able to continue running. Suppliers will be paid on time. And your business’s growth may continue.

How to manage your money better?

Sarah Cantley

June 26, 2023

Having to make difficult financial decisions, like choosing between paying the bills or clearing your debts can be stressful. These kinds of money worries can impact our mental wellbeing and affect our family life.

Ideally we all want to be more financially secure, where our money is stable and we’re debt free. But, as the cost-of-living crisis continues, this currently seems really hard to achieve, with everything from energy bills to food prices going up.

So, taking steps to achieve financial security can be good on both a practical and personal level.

How to be more financially secure: top 5 tips

Create a budget

Budgeting is key to getting to grips with your finances. Begin by looking at your monthly income and outgoings. Look at your bank statements from the last six months and work out how much comes in and how much you spend.

From there, you can work out how much to set aside each month for the essentials like food and bills, as well as any existing debts. This will help you spot opportunities to cut back on spending and to set aside some money for your savings.

Look at the essentials

Look at what you’re regularly spending each month and what you regularly buy for opportunities to cut back. You could change to a cheaper supermarket or cheaper brands. And if it’s time to change your car insurance or phone contract shop around to get the best price.

Manage your debts

Do some research into how you could manage your debts in a different way. For instance, a balance transfer credit card can help make your existing debts more manageable by grouping them all in one place.

This is where your budget will come in really handy as you’ll be able to see exactly how debt repayments line up with your monthly income.

Request a break on interest payments

If you’re struggling to keep up with payments it’s worth speaking to your credit card provider to see if they can freeze interest until your situation improves.

Use different pots

Some banks allow you to separate your money into different pots. This effectively divides your finances up so that it’s set aside for certain expenses. Or, if you have more than one bank account, you can divide your income into savings and bills, separate from your everyday spending.

What can a business do to support a greener future?

Sarah Cantley

June 23, 2023

What can a business do to support a greener future

In the world seeking solutions to establish the sustainability of products, startups give us hope to be the promotors and leaders of the movement. What the owners of startups really need is advice on how to develop, make smarter decisions, and meet new investors. Startup advisory is the best idea for those businesses with the ambition to reach international markets, to face the challenges and decisions that need to be done at the beginning. What can a business do to support a greener future?

Startups as leaders of sustainable innovation

It’s quite risky nowadays to run a business that is not sustainable, as it may become an object of criticism and hatred. Without a doubt, eco-friendly solutions are obligatory for any company that wants to mean something on the market.

Startups and climate tech companies are the main reasons other businesses need to accept sustainability as a must. People entrust startups to be the leaders of the movement, showing other brands how to work with the highest respect for the environment, and introducing a few eco-friendly solutions.

Appreciate the power of startup advisory

Are you worried and a bit overwhelmed trying to manage all issues arising when owning a startup? You don’t have a board of ten people to make decisions along with you, or a team of advisors to help you with everything.

If you feel exactly this way, think about startup advisory, which can be easily used to seek advice from specialists and businesspeople who have already developed their businesses and can share their broad knowledge, skills, connections, and expertise. That can surely add up to a few points to your confidence.

An advisor not only gives advice but also realistic feedback, and helps implement new ideas. You need a person with real experience and skills to give advice in the industry you are interested in. A great reputation, coaching skills, and a passion for business should definitely be used to define a good advisor. If you are worried about the financial part, you will need to pay from 0.25% to 1% of the company shares to the advisor.

How to fight for a greener future?

Startups have the power to promote being eco-friendly and sustainable, and they need to build their strategy from scratch.

Before the business starts its operation, it’s necessary to plan to develop eco-friendly products or services. This could involve creating products or services that promote energy efficiency, waste reduction, renewable energy, sustainable transportation, or circular economy practices.

Another issue of great importance is the minimization of the environmental footprint by implementing sustainable practices in their day-to-day operations. This includes adopting energy-efficient technologies, reducing paper usage, implementing recycling programs, promoting telecommuting and remote work, and using eco-friendly materials and packaging.

As a startup you are free to choose who you would like to cooperate with, entering into cooperation with suppliers and partners who share their commitment to sustainability. You can prioritize suppliers that adhere to eco-friendly practices, such as using renewable resources, reducing emissions, and promoting fair trade.

It’s worth mentioning the importance of educating your customers, employees, and stakeholders about the importance of sustainability, to inspire others to follow your practices. If you need funding and support, ask only green investors to help, who may be more willing to support you if they notice the same philosophy.

For more ideas, and the introduction of these in life contact a startup advisor, who will lead you through the process and help you put the practices into action.

Does VISA+ Signal the End for Traditional Debit and Credit Cards?

Sarah Cantley

June 22, 2023

Does VISA+ Signal the End for Traditional Debit and Credit Cards

In April of this year, PayPal and Venmo announced that they would be collaborating on an industry-first cross-app payment service. Initially rolling out in the United States ahead of a global expansion, the feature allows PayPal users to send money to a Venmo account and vice versa.

We live in an era of multiple payment options, so some level of interoperability is most welcome. After all, if you can use your Samsung smartphone to send a WhatsApp message to an iPhone user, there’s no reason to believe that you shouldn’t be able to send money from one app to another.

While the story above was hailed as a big win for PayPal and Venmo users, it was interesting to note that the payments are facilitated by the new Visa+ network. Importantly, people using the Visa+ service will not need to hold an underlying Visa debit or credit card to make a transaction.

Might such technology signal the end for traditional debit cards? Not necessarily, but payment technology has evolved in such a way that you could make an argument that it will. Still, the end of debit and credit cards, as we shall see, certainly doesn’t spell the demise of Visa.

Payment evolution doesn’t always see usurpation

Payment technology evolution does, of course, go hand in hand with the growth of the internet. In the 1990s, nascent websites could facilitate bank transfers and card payments. Ewallets followed in the 2000s, and then we got mobile payments in the 2010s. Importantly, however, each evolution didn’t usurp the other.

We can see evidence of this on online casino platforms, which, perhaps more than any other types of online business, strive to offer multiple payment options for customers. Most casinos accept debit cards and bank transfers, but they will also offer eWallets and mobile payments, too, as well as other options like pre-paid vouchers. The lesson is that merchants – of any type – are happy to use a payment technology as long as it’s convenient.

Visa, for its part, has not been resting on its laurels, hoping that the card payment sector thrives ad infinitum. It has been bold in investing in infrastructure that will help cryptocurrency adoption, for example. That might sound strange when you consider that Visa is exactly the type of centralised financial institution that the cryptocurrency movement intends to disrupt (one of the core beliefs of cryptocurrency is that the network should be decentralised and peer-to-peer without traditional banks and financial institutions facilitating payments). But Visa isn’t in any sense signing its own death warrant; it’s integrating itself into the crypto ecosystem.

Apple has plans to disrupt banking

We shouldn’t forget that there is a big scramble on to challenge the banks in moving – and holding – money. Indeed, just a couple of weeks ago we saw Apple announce Apple Savings, its savings account (backed by Goldman Sachs) that will pay interest of 4.15% – around ten times that of the normal savers’ rate in US banks.

Apple, of course, already offers Apple Pay, and it launched an Apple credit card a couple of years ago. Back in the mid-2010s, the company stated its ambition to replace the physical wallet in your pocket with a digital one, and thus Apple Wallet was born. It’s clear that Apple was thinking of the debit and credit cards we hold in those wallets and purposes.

Perhaps overlooked in this scramble to facilitate payments is that the goal is not to replace traditional banking, as such. Rather, it’s about the move to replace cash. That is, physical cash. While there are questions on how the phasing out of banknotes is disempowering to some sections of society, for the vast majority of us it is more convenient to ping money to a mate we owe for a round of drinks or a taxi fare using an app. The interoperability provided by Visa+ will make that easier in the future.

As to the future of credit and debit cards, we suspect that the concept will live on, but technology will ensure that the method will not. Revolut, the financial app that has seen huge success in the UK, has trumpeted the concept of virtual credit and debit cards, and it is certainly not alone. Apple, Google and Meta (using both Facebook and WhatsApp) have pushed to make digital payments as ubiquitous as possible. While many will continue to prefer having a physical card in their pocket, many won’t see the need.

Supply Chain Visibility: Why is it important & how can businesses achieve it?

Sarah Cantley

June 20, 2023

What are the key benefits of supply chain visibility

Following the disruption caused by COVID on international supply chains, companies have been looking to customise their existing systems and introduce software solutions to transform their supply chain visibility.

Despite its importance, a report by Deloitte found that just 13% of firms can map out their entire supply chain network. This makes supply chain visibility an urgent requirement for achieving lasting business success.

What is supply chain visibility?

Supply chain visibility is the ability to monitor different components, products, and stages of the manufacturing process. This allows for a clear view of inventory and advanced insight into reducing risks and costs. The final product results in a supply chain that is stronger and better prepared to meet customer demands.

When you’ve invested in supply chain visibility, your company should benefit from a greater understanding of its daily performance. This includes areas such as quality control, production efficiency, raw material origins, and safety standards.

Why is supply chain visibility important?

Supply chain visibility is vital for any business looking to refine its product offerings and services. Without a system in place to share information between the tiers of your supply chain, potential issues can not be identified before they disrupt production and result in you losing precious time and money. This also applies to regulatory compliance failures and other ethical risks in the workplace.

In contrast, when you maintain supply chain visibility in real-time, you’ll generate useful data to address products before they escalate and develop your manufacturing process to meet industry standards.

What are the key benefits of supply chain visibility?

Supply chain visibility leads to several exciting benefits, all of which contribute to a more streamlined workflow, increased profits, and overall improved work efficiency. From cutting costs for customers to enabling work process agility, here are the key benefits:

Lower costs – Supply chain visibility benefits your company by allowing you to make informed decisions along every step of the process. This prevents product recalls by ensuring all levels of manufacturing are performed according to market specifications which in turn means you can optimise your budget to cut down on costs and avoid lost business.

Maximise speed – When you are generating data-driven results, you can mitigate potential problems ahead of time and increase your response times. Once an issue arises, you can track it to its source promptly and resolve it using real-time collaboration, professional quality control, and compliance platforms.

Meet customer demands:

You can directly deliver better products and perform to market standards with greater confidence. Services such as same-day couriers meet customer demands by utilising full visibility into supply chain processes to meet customer demands. These need to be developed routinely over time as customer needs evolve.

What can be done to achieve supply chain visibility?

The key to supply chain visibility is understanding where the right goods and materials need to be at any given time. Companies also need to ensure that they are correctly budgeted for and regularly developed. This can be achieved by moving away from emails and spreadsheets to using advanced software that oversees every step of the manufacturing process and provides real-time data.

Providing a single source of supplier data and trusted information means risk is reduced by eliminating separate systems. Users can access all relevant information about suppliers, costs, disruptions, and capacity.

How To Even The Playing Field With Digital Skills At Work

Sarah Cantley

June 20, 2023

How To Even The Playing Field With Digital Skills At Work

There’s no shying away from it; going digital is the future of business. We’ve already seen substantial progress with digitisation, whether it’s cloud computing or utilising artificial intelligence being used more regularly across various industries.

Not everybody is on the same page here despite the need for sectors to evolve. Digital skills can be challenging to pick up for those who are inexperienced, disadvantaged, or even disinterested. Still, many workers are meeting the moment, and nobody must get left behind.

Of course, everybody has ideas of how to bridge the digital skills gap in the workplace. However, there’s not a single solution here, but many, and they’re all worth exploring. People will respond differently to different measures, but the more you employ, the more likely it is that you’ll get everybody on the same page soon enough.

It’s time to even the playing field with digital skills in the workplace. Read on for some insights on how to do it in your business with minimal stress and disruption.

Utilise Support Services

The reason we’re focusing on bridging the digital skills gap with ‘minimal stress’ is that these changes can be chaotic to implement if mismanaged or paced improperly. Gradually redefining a workforce without something akin to growing pains can seem like a tall order.

However, when you’re embarking on this effort, it’s vital to remember that you’re not alone. Plenty of services out there are focused on facilitating the digital evolution of businesses in a caring and compassionate way. They do more than help with practical changes, for their assistance can provide reassurances that cater to the well-being of those who might be apprehensive about tech.

To learn more about these types of support services, visit abledocs.com. They offer support with accessible PDF files, providing training and awareness integral to an ethical, inclusive work environment. There’s instruction and support around understanding accessibility guidelines, creating and fine-tuning accessible documents, and some general guidance around empowering your workforce through these initiatives too.

We’re starting with this point because it’s important to remember that not everybody can dive into the digital world head-on. Some business bosses may lack patience and empathy in a highly competitive and cutthroat business environment. It’s important to go down a more compassionate avenue instead, and you can do that by consulting external partners.

Make Things More Fun

We’ve mentioned approaching things more compassionately. It may be worth exploring an emotional response to these challenges in other ways, too, injecting a more lively energy into proceedings.

After all, many people can become jaded about some working environments, and not everybody is highly passionate about what they do – even if they’re pretending otherwise. The thought of extra training and upskilling might be a ‘drag’ for some, especially if staff are only with you to pick up a pay cheque. It’s not an ideal attitude, but there may be things you can do to prevent these responses.

For instance, gamification elements could be incorporated into these processes. Quizzes, friendly competitions, and fun reward systems could create a sense of fun when people are learning digital skills. A sense of achievement and satisfaction may also follow, motivating staff to embrace these new processes.

Cross-functional collaboration can also remind employees that the new digital skills being learned extend far beyond their staff. Different departments can come together, swap tips and tricks, discuss the changes in their roles, and enjoy each other’s company as they learn about one another’s perspectives. Closer working relationships, or even outright friendships, could form due to a wider dialogue being nurtured. Ultimately, there can be many feelings of comfort and reassurance through a shared learning experience.

Reference the Personal Benefits

Digital skills aren’t about gaining an edge over the competition. They’re now an intrinsic part of everyday working life in more professions than ever before.

So, there’s a great deal at stake here. In late 2022, there was an assertion that a lack of digital skills could be costing UK workers more than a collective £5 billion in earnings. It’s not just the business or even the wider economy that can suffer; individual talent can fall behind in the race for better jobs and higher pay too.

If people are struggling to acquire more digital skills, they should receive support. That said, outright complacency should be strongly discouraged, not only for the benefit of the business but so that staff can protect their job security and financial futures.

Of course, not everybody is highly motivated at work. When the stakes get personal, though, attitudes can adjust very quickly. It might seem like these reminders could make learning digital skills more stressful, but as long as your less enthused workers understand how they stand to benefit personally, it should be enough to spur on their progress.

Continually Monitor the Situation

Bridging a digital skills gap won’t happen overnight. Even when you succeed, tech developments will demand that you keep pushing your staff to reach the next level.

Therefore, it’s essential to continuously monitor the key performance indicators (KPIs) to monitor how effectively things are evolving. View the KPIs in every area affected by tech skills, whether it’s customer satisfaction, the effectiveness of training programs, or even worker productivity.

How long do projects take to complete? Is there less waste or paper usage? How does new product development look? Which processes have been streamlined and refined? Are error rates being reduced? Can you send a survey to employees that help them detail how their experience has changed during digital skills development phases?

There’s a lot to grapple with here. However, your company should change as digital skills become more commonplace in your firm. Upskilling should always make an impact, and investigating how, when, and why will be eternally relevant.

Conclusion

It’s important to appreciate your staff’s perspective when it comes to learning new digital skills. You can better facilitate their progress by focusing your efforts on their experience rather than heeding overarching business objectives. Utilise support services, make things more fun, emphasise personal benefits, and keep tabs on things. Remember, people-first companies always get the most out of their staff, and this frame of mind can be applied to evening the playing field with digital skills.

A Comprehensive Guide to Choosing Electric Safety Gates for Office Buildings

Sarah Cantley

June 19, 2023

A Comprehensive Guide to Choosing Electric Safety Gates for Office Buildings

In today’s rapidly evolving world, ensuring the safety and security of employees and visitors in office buildings has become paramount. Electric safety gates offer an effective solution by providing controlled access and enhancing security measures. However, choosing the right electric safety gates for your office building requires careful consideration of various factors. This article will guide you through the essential aspects to consider when selecting electric safety gates for your office building.

Assess your security needs:

Begin by evaluating your office building’s specific security requirements. Consider factors such as the size of the building, the number of entrances, the flow of foot traffic, and any specific security concerns unique to your office environment. This assessment will help you determine the type and number of electric safety gates required.

Determine the gate types:

Electric safety gates come in various types, including swing gates, sliding gates, and barrier arm gates. Each type has its advantages and is suitable for specific situations. Swing gates are ideal for limited space areas, sliding gates are suitable for wide entrances, and barrier arm gates are commonly used for parking areas. Choose the gate type that best aligns with your office building’s layout and security requirements. Check out these options – https://www.gates-scotland.co.uk/electric-gates-glasgow

Consider access control systems:

Access control systems play a crucial role in managing entry and exit points. These systems can include keypads, card readers, biometric scanners, or even smartphone-enabled access. Assess the level of access control you need, keeping in mind the number of employees, visitors, and their respective access permissions. Integration with existing security systems, such as CCTV cameras and alarm systems, should also be considered.

Prioritize safety features:

Electric safety gates should prioritize the safety of users. Look for gates that incorporate safety features like safety sensors, anti-crushing mechanisms, and emergency release options. Safety sensors can detect objects or individuals in the gate’s path, preventing accidents or injuries. Anti-crushing mechanisms automatically stop the gate’s movement if it encounters an obstruction. Emergency release options allow manual operation of the gate during power outages or emergencies.

Evaluate durability and maintenance:

Choose electric safety gates made from high-quality materials such as stainless steel or aluminum, as they offer durability and resistance against weather elements. Consider the gate’s motor and operational components to ensure their reliability and longevity. Additionally, inquire about the maintenance requirements and availability of spare parts to minimize potential downtime and ensure a smooth functioning system.

Seek professional installation and support:

To ensure the optimal performance of electric safety gates, it is advisable to have them installed by professionals experienced in gate installations. Proper installation will ensure that gates are aligned, adjusted, and calibrated correctly. Additionally, inquire about post-installation support, including maintenance, repairs, and technical assistance.

Consider scalability and future requirements:

While selecting electric safety gates, consider the potential growth of your office building and future security needs. Ensure that the chosen gates can be expanded or modified to accommodate changing requirements. Choosing a system that allows for scalability will save you the hassle and cost of replacing the entire system in the future.

Conclusion:

Investing in electric safety gates for your office building is a wise decision to enhance security and control access effectively. By assessing your specific security needs, considering gate types, prioritizing safety features, and evaluating durability and maintenance requirements, you can make an informed choice. Remember to seek professional installation and consider scalability to cater to future needs. With careful consideration of these factors, you can select electric safety gates that provide a secure and efficient solution for your office building.

Why safety is a crucial KPI?

Sarah Cantley

June 16, 2023

Key performance indicators (KPIs) are effective ways for businesses to assess how they are operating. Not only that but they are crucial in highlighting where improvements and efficiencies could be made, which is necessary if a business wishes to grow.

KPIs will often be centred around turnover and profit levels, as well as productivity and customer feedback. However, safety is sometimes overlooked when deciding on measures of success.

There are many reasons why a business should include at least one safety KPI, including the following:

Employee wellbeing

Everyone has the right to feel safe at work, no matter what their role is. Certain jobs of course come with more risk than others, but it is important for both physical and mental wellbeing that staff are confident that their employer values their safety with the utmost importance.

Productivity

When people feel safe, they are able to be more productive. Spending far less time worrying about whether or not they are going to cause or be subject to harm means staff can focus on the work at hand more easily. A business that focuses on safety is sure to see improvements in outputs.

Retention

Working in an environment that feels unsafe is not an enjoyable experience. As a result, unsafe businesses will experience far higher staff turnover. Not only is this costly to the organisation, but it can also cause significant disruption to workflow and mean lengthy recruitment and training processes are needing to be repeated constantly. If prospective candidates get wind of this, they are also likely to be put off, which will only prolong the process further.

Costs

Recruitment is not the only cost associated with poor safety measures. If a business operates unsafely, there is a much greater risk that accidents will occur. If this does happen, those involved may be eligible to make an accident claim which can be very costly if the organisation is at fault.

There are also other costs associated with injuries, including the cost of hiring temporary cover, as well as potential penalties from customers due to late delivery or partially fulfilled orders.

Reputation

Reputation is very important within the world of business, and even the best public relations teams cannot mask poor safety records. If it becomes common knowledge that an organisation to operating dangerously and not prioritising the safety of its employees and customers, they are likely to suffer.

Customers are going to begin looking elsewhere and start supporting businesses that are more renowned for their safety.

Potential future investors are also highly likely to be turned off if a business cannot present them with impressive or at least improving figures. This may cause challenges for growth or future partnerships.