Business

How To Onboard and Manage Remote Staff Effectively

Know the details of hiring and managing remote staff effectively and growing your business with their help Of late, hiring remote staff has been a game-changer for many startups and SMBs. Improving efficiency while cutting costs is paramount to the success of small and mid-sized businesses.

By hiring remote staff, companies not only check those boxes but save on payroll and training expenses. The regular staff is then free to focus on things like business growth and innovation. But how do you go about hiring and managing remote staff in the first place? Let’s address the elephant in the room!

So, you are a startup founder or the CEO of an SMB and want to scale up your business. Where do you look for new customers? The emerging markets, of course! And where do you look for resources to manage your specific projects? In countries like India, of course!

India, with its rich talent pool of cost-effective manpower, is the go-to place for most startups and SMBs now. Do you want to hire a remote virtual assistant, a software developer, or a web designer? You need only contact a top-notch offshore hiring company based out of India to get your remote staff. That’s how easy it is! But it doesn’t hurt to know a few details about the remote hiring process to stay ahead in the game.

Steps to Hiring a Remote Resource:

Step 1: Assess your requirement

Ask yourself why you need remote staff. Do you need a remote virtual assistant to manage your daily roster? Or, do you need a specialist in a field like engineering, web designing, or electronics? A remote project manager is an asset when it comes to managing large-scale projects, not least if it’s an offshore one. Once you have assessed your requirements, it’s time to decide on the budget.

Step 2: Budgeting

Remote hiring is always cheaper than local hiring. It also frees you from the hassles of local hiring laws. The end result: you get quality resources at a fraction of the usual cost. The money you save via hiring remote staff can go to other important aspects of your business, like marketing and promotion.

So, how much are you willing to spend on quality remote staff? Offshore hiring companies like the ones based out of India offer an endless talent pool to hire from. You can hire remote virtual assistants, software developers, remote engineers, graphic designers, architects, .NET and PHP developers, and whatnot.

Step 3: Selection

The best offshore hiring companies will offer you a bunch of resumes to choose from. You can sort them based on your requirements and ask for interviews. Once you meet the resources face to face, you can decide on the right remote staff for your project and complete the onboarding process.

Step 4: Onboarding

Once you have homed in the right resource for your project, it’s time to onboard them. You just have to sign a contract with the respective offshore hiring company, and you are good to go. Your remote resource can start assisting you with your project immediately, freeing up your time for things that need your direct involvement.

Hiring a remote resource is one part of the story. The other, and equally important part is managing an offshore employee. Here’s what you need to do to ensure a long-term employer-employee relationship:

1. Establish Clear Communication Channels

Effective communication is the cornerstone of remote work. Ensure that your team has access to reliable communication tools such as video conferencing, instant messaging, and project management platforms. Clearly define communication protocols to minimize misunderstandings and promote a collaborative work environment.

2. Set Expectations and Goals

Remote employees thrive when they have a clear understanding of their roles and expectations. During the onboarding process, discuss key performance indicators, deadlines, and project milestones. Establishing goals from the outset provides a roadmap for success and fosters accountability.

3. Encourage Virtual Socialization

Remote work can sometimes lead to a sense of isolation. Counteract this by incorporating virtual socialization activities into your team’s routine. Schedule regular virtual team meetings, encourage casual conversations, and create virtual spaces for non-work-related discussions. Building a sense of camaraderie contributes to a positive remote work experience.

4. Training and Development Opportunities

Investing in the professional development of remote staff is essential for both individual growth and the overall success of the team. Offer continuous learning opportunities, whether through online courses, webinars, or mentorship programs. This not only enhances employee skills but also demonstrates a commitment to their long-term success.

5. Implement Performance Tracking and Feedback Mechanisms

Tracking performance in a remote setting requires a combination of trust and accountability. Establish key performance indicators and regularly assess progress. Provide constructive feedback to help remote employees improve and excel in their roles. Regular check-ins can also address any challenges they may be facing.

6. Prioritize Work-Life Balance

Remote work can blur the lines between professional and personal life. Encourage a healthy work-life balance by setting clear expectations regarding working hours and break times. Respect personal boundaries and discourage overworking. A balanced work-life dynamic contributes to employee well-being and sustained productivity.

Offshore hiring opens a window of opportunities for budding and established organizations. If you are an entrepreneur in for the long haul, you need to have a team that’s diligent, adaptive, and communicable.

Remote staff come with all these attributes plus the cost advantage. Why miss the opportunity of building a stable future for your business, when you have such a mighty and accessible tool at your disposal?

Business

PepsiCo Reduces Revenue Projections As North American Snacks And Key International Markets Underperform.

(VOR News) – In the third quarter of this year, Pepsi’s net income was $2.93 billion, which is equivalent to $2.13 per share. This was attributed to the company.

This is in stark contrast to net income of $3.09 billion, which is equivalent to $2.24 per share, during the same period in the previous year. The company’s earnings per share were $2.31 when expenses were excluded.

Net sales decreased by 0.6%, totaling $23.32 billion. Organic sales increased by 1.3% during the quarter when the effects of acquisitions, divestitures, and currency changes are excluded.

Pepsi’s beverage sales fell this quarter.

The most recent report indicates that the beverage and food sectors of the organization experienced a 2% decline in volume. Consumers of all income levels are demonstrating a change in their purchasing habits, as indicated by CEOs’ statements from the previous quarter.

Pepsi’s entire volume was adversely affected by the lackluster demand they encountered in North America. An increasing number of Americans are becoming more frugal, reducing the number of snacks they ingest, and reducing the number of times they purchase at convenience stores.

Furthermore, Laguarta observed that the increase in sales was partially attributed to the election that occurred in Mexico during the month of June.

The most significant decrease in volume was experienced by Quaker Foods North America, which was 13%. In December, the company announced its initial recall in response to a potential salmonella infection.

Due to the probability of an illness, the recall was extended in January. Pepsi officially closed a plant that was implicated in the recalls in June, despite the fact that manufacturing had already been halted.

Jamie Caulfield, the Chief Financial Officer of Pepsi and Laguarta, has indicated that the recalls are beginning to have a lessening effect.

Frito-Lay experienced a 1.5% decline in volume in North America. The company has been striving to improve the value it offers to consumers and the accessibility of its snack line, which includes SunChips, Cheetos, and Stacy’s pita chips, in the retail establishments where it is sold.

Despite the fact that the category as a whole has slowed down in comparison to the results of previous years, the level of activity within the division is progressively increasing.

Pepsi executives issued a statement in which they stated that “Salty and savory snacks have underperformed year-to-date after outperforming packaged food categories in previous years.”

Pepsi will spend more on Doritos and Tostitos in the fall and winter before football season.

The company is currently promoting incentive packets for Tostitos and Ruffles, which contain twenty percent more chips than the standard package.

Pepsi is expanding its product line in order to more effectively target individuals who are health-conscious. The business announced its intention to acquire Siete Foods for a total of $1.2 billion approximately one week ago. The restaurant serves Mexican-American cuisine, which is typically modified to meet the dietary needs of a diverse clientele.

The beverage segment of Pepsi in North America experienced a three percent decrease in volume. Despite the fact that the demand for energy drinks, such as Pepsi’s Rockstar, has decreased as a result of consumers visiting convenience stores, the sales of well-known brands such as Gatorade and Pepsi have seen an increase throughout the quarter.

Laguarta expressed his opinion to the analysts during the company’s conference call, asserting, “I am of the opinion that it is a component of the economic cycle that we are currently experiencing, and that it will reverse itself in the future, once consumers feel better.”

Additionally, it has been noted that the food and beverage markets of South Asia, the Middle East, Latin America, and Africa have experienced a decline in sales volume. The company cut its forecast for organic revenue for the entire year on Tuesday due to the business’s second consecutive quarter of lower-than-anticipated sales.

The company’s performance during the quarter was adversely affected by the Quaker Foods North America recalls, the decrease in demand in the United States, and the interruptions that occurred in specific international markets, as per the statements made by Chief Executive Officer Ramon Laguarta.

Pepsi has revised its forecast for organic sales in 2024, shifting from a 4% growth rate to a low single-digit growth rate. The company reiterated its expectation that the core constant currency profitability per share will increase by a minimum of 8% in comparison to the previous year.

The company’s shares declined by less than one percent during premarket trading. The following discrepancies between the company’s report and the projections of Wall Street were identified by LSEG in a survey of analysts:

SOURCE: CNBC

Business

Old National Bank And Infosys Broaden Their Strategic Partnership.

(VOR News) – Old National Bank, a commercial bank with its headquarters in the Midwest, and Infosys, a firm that specializes in information technology, have recently entered into a strategic expansion of their link, which has been in place for the past four years.

This expansion is more likely to take place sooner rather than later, with the likelihood being higher.

For the purpose of making it possible for Old National Bank to make use of the services, solutions, and platforms that are offered by Infosys, the objective of this expansion is to make it possible for the bank to transform its operations and processes through the application of automation and GenAI, as well as to change significant business areas.

This lets the bank leverage Infosys’ services, solutions, and platforms.

Old National Bank Chairman and CEO Jim Ryan said, “At Old National, we are committed to creating exceptional experiences for both our customers and our fellow employees.”

This statement is applicable to Old National Bank. Infosys is carefully managing the business process innovations that it is putting us through, putting a strong emphasis on efficiency and value growth throughout the process to ensure that it is carried out efficiently.

This is a routine occurrence throughout the entire operation. Because of Infosys’ dedication to our development and success, we are incredibly appreciative of the assistance they have provided.

Old National has been receiving assistance from Infosys in the process of updating its digital environment since the year 2020, according to the aforementioned company.

Ever since that time, the company has been providing assistance. The provision of this assistance has been accomplished through the utilization of a model that is not only powerful but also capable of functioning on its own power.

Infosys currently ranks Old National thirty-first out of the top thirty US banks.

This ranking is based on the fact that Old National is the nation’s largest banking corporation.

It is estimated that the total value of the company’s assets is approximately fifty-three billion dollars, while the assets that are currently being managed by the organization are valued at thirty billion dollars.

Dennis Gada, the Executive Vice President and Global Head of Banking and Financial Services, stated that “Old National Bank and Infosys possess a robust cultural and strategic alignment in the development, management, and enhancement of enterprise-scale solutions to transform the bank’s operations and facilitate growth.”

This remark referenced the exceptional cultural and strategic synergy between the two organizations. Dennis Gada is the one who asserted this claim. This was articulated explicitly concerning the exceptional cultural congruence and strategy alignment of the two organizations.

We are pleased to announce that the implementation of Infosys Topaz will substantially expedite the transformation of Old National Bank’s business processes and customer service protocols. We are exceedingly enthusiastic about this matter. We are quite thrilled about this specific component of the scenario.

Medium-sized banks operating regionally will continue to benefit from our substantial expertise in the sector, technology, and operations. This specific market segment of Infosys will persist in benefiting from our extensive experience. This phenomenon will enable this market sector to sustain substantial growth and efficiency benefits.

SOURCE: THBL

Business

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

The largest regulated water and wastewater utility company in the United States stated Monday that it had been the target of a cyberattack, forcing the company to halt invoicing to consumers.

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

American Water, based in New Jersey and serving over 14 million people in 14 states and 18 military facilities, said it learned of the unauthorized activity on Thursday and quickly took precautions, including shutting down certain systems. The business does not believe the attack had an impact on its facilities or operations and said employees were working “around the clock” to determine the origin and scale of the attack.

water

The corporation stated that it has alerted legal enforcement and is cooperating with them. It also stated that consumers will not be charged late fees while its systems are unavailable.

According to their website, American Water operates over 500 water and wastewater systems in around 1,700 communities across California, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maryland, Missouri, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia.

SOURCE | AP