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Best Practices for Enhancing Cybersecurity Awareness in the Workplace

Shefali Vasave | February 28, 2022 | 385 views

Importance of Cybersecurity Awareness in the Workplace

As the world becomes increasingly interconnected, more people and businesses are using technology, increasing the risk of data loss and theft. Cyberattacks are becoming more sophisticated and difficult to detect. The cost of cybercrime is also on the rise. In 2016, cybercrime cost the world $450 billion—an average of $12 million per hour. In 2022, things are getting even more serious. According to Fintech News, there has been a 600% uptick in cybercrimes following the COVID-19 pandemic.

Cybersecurity compliance is not just about protecting the resources of your company, but also about your employees, customers, and stakeholders. It’s important to understand the serious implications and what organizations can do to tackle cyber security in the workplace.
HRM leaders have the added responsibility of ensuring that the correct cybersecurity protocols are in place. Due diligence starts right from the hiring process.


Why Does Employees' Cybersecurity Awareness Matter?

While recruiting for important roles, HR managers need to be well-acquainted with the roles and responsibilities of the job they are advertising. It is prudent to understand what type of access and authorization is required for an employee to be able to do their job and the scope of data and responsibility they are being trusted with.

“From a cyber perspective, the industry needs to ensure that the movement of digital information is regulated and monitored, protection is put in place for unauthorized access, which in turn would allow for confidentiality.”

- Tinesh Chhaya, Founder, Decipher Cyber

Your employees are using their personal devices to access company information. As workspace expands to accommodate homes and work becomes more flexible, information is more vulnerable than ever. While working from home is the need of the hour and is becoming the most popular way to work, there is an increasing need to fortify digital security. In fact, a study by Tessian suggests that 47% of employees cited distraction as the reason for falling for a phishing scam while working from home. According to Malware Bytes, remote workers are also responsible for security breaches in 20% of organizations.


3 Tips for Delivering Cybersecurity Awareness Training in Your Organization

Since employees have access to sensitive company data and customer information, it is essential to provide cybersecurity awareness training that does not jeopardize said data. Consider the case of Avast, a Czech cybersecurity firm specializing in anti-virus software solutions. In 2019, a hacker was able to compromise an employee’s VPN credentials. The attack was aimed at inserting malware into Avast’s product. Though the attack did not threaten customer data, it could have posed a major security threat to Avast’s customers and jeopardized its reputation.

“Cyber attacks are not only becoming more prevalent but also more clever in how they attempt to steal sensitive information from users.”

- Adam Cason, Vice President of Global and Strategic Alliances at Futurex

In order to protect your organization from these cyber security risks, you want to create a culture that fosters cybersecurity awareness and promotes the importance of security awareness training among employees and management alike. Here are three tips for creating a new digital culture in your organization:


Onboard New Employees With Cybersecurity Awareness Training

For a solid cybersecurity awareness culture, consider disseminating training as part of the standard onboarding process. New employees, regardless of their role, should be made aware of phishing attacks, authentication, passwords, removable media, remote working cybersecurity policies and best practices, and mobile security.


Conduct Certification in Cybersecurity Awareness

Many organizations conduct certification and annual re-certification cybersecurity training to ensure that all employees are up-to-date on the newest developments in cybersecurity as well as tools, technologies, and cyber threats they should be aware of.


Conduct Job-Oriented Training

Some of your employees may be more vulnerable than others when it comes to cyber-attacks. C-level executives are a particularly common target. Therefore, customizing your cybersecurity training based on the job role is a smart step to ensure both cybersecurity compliance and better cyber resilience among your most vulnerable employees.


Conclusion: The Proper Steps Towards Building a Highly Effective Cyber Security Culture

The first step to building a highly effective culture of cybersecurity in the workplace is to identify what needs to be protected. Then there is a need to make sure that all employees are aware of the risks and know how to protect themselves, their work, and the company’s data. This also includes informing your employees about the liabilities they will be subject to if they fail to comply with cybersecurity measures.

The third step is to make sure that all employees are trained on how cyber attacks happen, what they can do in case they get hacked, and what steps should be taken if they suspect someone else has been hacked.

Cybersecurity is an ever-evolving field that requires both education and constant training to not only stay up-to-date on the latest threats, but also to be able to protect oneself from malicious cyberattacks. There’s no doubt that HR teams have a challenging task on their hands. They must optimize the HR process to address the challenges of hiring new employees while maintaining the sanctity of the company’s data.

The importance of security awareness training cannot be ignored. The tips in these articles will not only help you build a culture of awareness around cybersecurity but also reimagine your approach to attracting, hiring, and retaining talent in the light of a digitally driven world.


Frequently Asked Questions


What is the role of social media in cybersecurity?

Social media is a powerful tool for cyber security because it can be used to identify and understand the needs and wants of people. Governments and organizations can use social media to predict events, detect potential cyber threats, and prevent disasters.


What are the benefits of cyber security?

Here are some of the benefits of cyber security:
  • It protects data from being stolen or destroyed by hackers.
  • It prevents unauthorized access to computer systems or networks.
  • It protects against viruses that can compromise sensitive information.


What is phishing and how does it work?

Phishing is a type of cyber-attack that attempts to steal sensitive information such as usernames, passwords, and credit card details by masquerading as a trustworthy entity in an electronic communication.

Spotlight

Talentvis

Talentvis is a leading Recruitment & Executive Search Group with offices growing across Asia Pacific. With our expertise recruiting in over ten industries, Talentvis is a platform that connects you to opportunities that further your career. At Talentvis, you will find partners rather than mere recruiters. We understand there is no one-size-fits-all approach when it comes to finding success in our careers. That’s why we take a meticulous and consultative approach that matches you with the right opportunities and connections. Being your trusted partner is a responsibility that we take seriously.

OTHER ARTICLES
HR PRACTICE, HR STRATEGY

Maximize Your Budget: 6 Strategies to Improve Efficiency and Contain Costs for Your Business

Article | August 8, 2022

The current economic climate and ongoing labor challenges have created a tough environment for employers of all sizes. In order to weather the storm, many employers are looking for ways to reduce their expenses and save money. However, in their efforts to do so, many organizations make the mistake of cutting costs without a clear plan, which can result in lost productivity, reduced morale, unhealthy company culture, and negative long-term effects on the company’s growth and people. Successful organizations, on the other hand, take a more strategic approach to contain costs. They understand that simply slashing expenses, or their workforce can be counterproductive in the long run. Instead, they focus on optimizing their resources by identifying areas where they can reduce expenses without compromising productivity or future growth. Ultimately, the key to successfully managing your costs is to strike a balance between reducing expenses and maintaining productivity and growth. Organizations that adopt this approach are more likely to thrive in a challenging economic environment and come out stronger on the other side, with a team that is committed to the long-term success of the organization. The following article outlines six proven strategies that your business can implement to reduce expenses and optimize your resources: Strengthen Employee Retention Prioritizing employee retention can be one of the most effective cost-containment strategies for your business. Replacing workers is often extremely expensive. Employee retention is a critical issue, as losing employees can be costly and disrupt business operations. Employee turnover not only increases an organzation’s recruiting and training costs but also usually results in decreased productivity, lost proficiency, and a big impact on revenue. You can strengthen employee retention with the following strategies: Provide opportunities for career development and advancement: Offering training and development programs, mentorship opportunities, and promotions can help employees feel valued and invested in their future within the company. This can improve employee satisfaction and loyalty. Offer benefits to meet workers’ evolving needs: As the workforce becomes more diverse, businesses of all sizes need to offer a range of benefits that meet the needs of all employees. This can include flexible work arrangements, healthcare benefits, retirement plans, and paid time off. Improve employee engagement: Employee engagement is crucial for retention, and it can be improved through several methods. For example, encouraging employee feedback can help employees feel heard and valued, while providing flexibility in work schedules and locations can help employees achieve a better work-life balance. Strengthening workplace efficiency can also reduce employee frustration and improve overall satisfaction. Bolster workplace culture through public recognition and reward programs: Improve retention by creating a positive workplace culture that recognizes and rewards employee contributions. This can include public recognition programs, such as employee of the month awards, as well as reward programs that incentivize high performance. Be transparent when communicating with employees to help them understand important decisions and establish opportunities for two-way feedback. Invest in New Technology Adopting new technology is becoming increasingly important to stay competitive and thrive in today’s digital age. Technology can help save time and money by streamlining operations and allowing your business to operate more efficiently. Here are some key ways technology can help your business manage costs: Customer relationship management (CRM) software: CRM software can help manage customer relationships and sales processes, reducing the time and cost associated with manual sales tracking and management. Cloud-based software: Cloud-based software solutions allow you to store data and access software applications from anywhere, reducing the cost and time associated with maintaining and updating software systems. E-commerce platforms: E-commerce platforms enable you to sell your products and services online, reducing the cost and time associated with traditional retail operations. Digital communication tools: Digital communication tools, such as email, instant messaging, and video conferencing, can help to improve collaboration and communication between employees, customers, and partners, reducing the time and cost associated with travel and face-to-face meetings. Human resources management systems: HR management systems can help to automate and streamline HR processes, reducing the time and cost associated with manual data entry and paper-based processes. Low-code solutions: Low-code solutions can help to create custom software applications and workflows with minimal coding expertise, reducing the cost and time associated with software development. Artificial intelligence: Artificial intelligence can help to automate and optimize repetitive or complex tasks, such as data analysis, customer service, and supply chain management, reducing the time and cost associated with manual processes. Additionally, many businesses are turning to open-source software alternatives as a cost-effective alternative to brand- name software applications. By adopting new technology, you can gain a competitive edge, save time and money, and improve customer satisfaction, ultimately leading to increased growth and success for your business. Manage Health Care Costs Managing healthcare costs is a major concern, as rising healthcare expenses can have a significant impact on their bottom line. Finding cost-effective solutions is vital for your business to maintain affordable benefits and reduce costs. Solutions may include reevaluating plan designs and offerings, directing employees to cost-effective services, and improving employee healthcare literacy. Employers can leverage their relationship with their insurance brokers to explore cost-saving solutions, like obtaining details on organizational healthcare spending and educating employees on shopping for healthcare services. Here are some ways your business can focus on managing healthcare costs: Encourage wellness programs: By encouraging healthy lifestyle habits and providing wellness programs, you can reduce the risk of chronic health conditions and lower healthcare costs. Wellness programs can include fitness classes, healthy eating options, smoking cessation programs, and stress management resources. Promote preventative care: Encourage employees to get preventative care, such as regular check-ups, vaccinations, and cancer screenings. Preventative care can catch health issues early, when they are less expensive to treat. Consider telemedicine options: Telemedicine is an increasingly popular option for healthcare, as it allows employees to access healthcare professionals remotely. This can reduce healthcare costs and improve access to care for employees in remote locations or with mobility issues. Use technology to manage healthcare expenses: Technology can be used to manage healthcare expenses by using online portals to access healthcare information and track expenses. Additionally, consider using data analytics to analyze healthcare costs and identify areas for improvement. Partner with a benefits consultant: Partner with a benefits consultant who can help navigate the complex world of healthcare and find ways to reduce costs while maintaining quality care. Overall, your business needs to be proactive in managing healthcare costs to maintain financial stability. By encouraging wellness and preventative care, promoting telemedicine, using technology to manage expenses, and partnering with a benefits consultant, your business can reduce healthcare costs while continuing to maintain a healthy workforce. Embrace Outsourcing While performing tasks in-house can often be cost-effective, there are instances when outsourcing key responsibilities and tasks can be more economical and efficient helping to reduce in-house costs.. Manual, time-consuming tasks—such as payroll, HR, compliance and benefits administration—may be better suited for an HR outsourcing firm than managed in-house. Outsourcing these kinds of tasks can enable your employees to focus on their core responsibilities that have a greater and more direct impact on the business. Here are some reasons why outsourcing can be highly beneficial and cost-effective: Cost savings: Outsourcing can help save on costs, especially for tasks that are nonessential or not core to the business. For instance, outsourcing payroll, HR, compliance and benefits administration can be more cost-effective than hiring an in-house staff to perform these tasks. Time savings: Outsourcing time-consuming tasks can free up employees to focus on their core responsibilities that have a greater impact on the overall growth and revenue. This can help increase productivity and efficiency within the organization. Access to expertise: Outsourcing provides access to a team of experts who have specialized skills and experience in a particular area. For example, outsourcing IT services can give your business access to the latest technology and technical expertise that you may not have in-house. Scalability & flexiblity: Outsourcing can provide the flexibility to scale up or down quickly as business needs change. For instance, outsourcing customer service can allow your business to quickly ramp up during peak periods or cut back during slow periods without having to hire or lay off employees. Reduced risk: Outsourcing can also help dramatically reduce and mitigate risk, as some outsourcing contracts include guarantees of service levels, quality, and data security. This is especially true when working with an HR outsourcing firm to manage your benefits, payroll, and HR compliance-related initiatives and tasks. Adopt Flexible Work Arrangements The expense of having a physical workspace can add up. Each month, employers must pay rent, utilities, cleaning costs and other expenses. While these expenses are often unavoidable, some businesses are transitioning to remote and hybrid work arrangements to contain costs. These solutions may not be suitable for all industries or job positions, and if going hybrid or remote isn’t possible, consider downsizing facilities to reduce rent and utility bills. Your business can also explore other alternatives, such as co-working arrangements and renegotiating leases to term, to try and better manage costs. Here are some additional ways adopting flexible work arrangements can help reduce or contain costs for your business: Transitioning to remote work arrangements: This can help cut down on rent, utilities, cleaning costs, and other expenses associated with a physical workspace. While this may not be suitable for all industries or job positions, many businesses can consider offering flexible scheduling and improved benefits to lower overhead expenses. Downsizing facilities: If converting to a home-based business or going remote isn’t possible, consider downsizing. Additionally you can consider subletting excess space or renting out unused areas to generate additional income. Exploring alternative workspaces: Explore alternative workspace options, such as co-working arrangements, to reduce the cost of renting an entire workspace. This can help reduce rent and utilities, as well as provide networking opportunities and access to shared amenities. Overall, you should carefully evaluate your workspace needs and consider all options available to reduce overhead expenses. By doing so, your business can allocate more resources to growth initiatives, maintain positive company culture and drive long-term success. Reviewing Expenses Maintaining healthy cash flow is essential for your business to operate and survive, especially during difficult times. Reviewing expenses regularly can you help identify areas where you can adjust costs and optimize your spending and overall financial resources. Here are some ways in which reviewing expenses and building relationships with providers, suppliers, and vendors can help your business contain costs: Reviewing contacts with providers, suppliers, and vendors: Try reviewing your contract with their providers, suppliers, and vendors to see if there is any way to adjust your license, or services provided to try and reduce overall expenses. Identifying and eliminating unnecessary costs: By reviewing expenses regularly, you can identify and eliminate unnecessary costs. For example, eliminate subscriptions or services that are no longer used or needed. Building strategic partnerships: Building relationships with providers, suppliers, and vendors can help cultivate allies and strategic partners. These partnerships can potentially reduce your costs by sharing resources and collaborating on cost-saving solutions. For example, you can partner with a supplier to get better prices for materials or with a vendor to share marketing costs. By implementing these strategies, you can reduce expenses and optimize your financial resources, which can help you weather challenging times and achieve long-term success.

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Listen and act: how to get employee experience management right

Article | January 19, 2022

As the science behind employee engagement evolves, it’s become clear just how much businesses can gain from a happy and involved workforce. From improved performance, to reduced attrition, increased revenue and even a better customer experience, employee engagement is at the heart of business growth. Given these benefits, it’s no surprise that the role of HR departments is moving beyond just managing people and towards managing experiences.

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5 Things HR Can Do To Improve Employee Output

Article | January 27, 2022

Employees are companies most valuable asset – Without the talent, knowledge and expertise those employed bring to an organisation, it’s safe to say that the business world would be a very different landscape. Human Resources is often held responsible for owning the employee value strategy, where we’re now embracing tremendous improvements in how the value that employees bring, can be achieved. Here we’ll explore how data analysis, learning & development, employee engagement, 360 feedback and flexibility all offer a significant opportunity to improve employee output within every organisation in 2020.

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6 Reasons To Invest In Employee Onboarding In Your Organization

Article | February 10, 2020

You never get a second chance to make a first impression. This holds particularly true when it comes to employee onboarding. It's a new hire's introduction to the organization and the experience has a significant impact on employee retention. Unfortunately, that's why it's rare to see many employees with years of tenure. Research by Future Workplace found that 91% of Millennials expect to stay in a job for less than 3 years. Companies lose 25% of all new employees within the first year, according to SHRM, but almost 70% of employees are more likely to stay with a company for 3 years if they experienced great onboarding.

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4 Signs You’re Hurting Your Employer Brand

Article | August 8, 2022

The current economic climate and ongoing labor challenges have created a tough environment for employers of all sizes. In order to weather the storm, many employers are looking for ways to reduce their expenses and save money. However, in their efforts to do so, many organizations make the mistake of cutting costs without a clear plan, which can result in lost productivity, reduced morale, unhealthy company culture, and negative long-term effects on the company’s growth and people. Successful organizations, on the other hand, take a more strategic approach to contain costs. They understand that simply slashing expenses, or their workforce can be counterproductive in the long run. Instead, they focus on optimizing their resources by identifying areas where they can reduce expenses without compromising productivity or future growth. Ultimately, the key to successfully managing your costs is to strike a balance between reducing expenses and maintaining productivity and growth. Organizations that adopt this approach are more likely to thrive in a challenging economic environment and come out stronger on the other side, with a team that is committed to the long-term success of the organization. The following article outlines six proven strategies that your business can implement to reduce expenses and optimize your resources: Strengthen Employee Retention Prioritizing employee retention can be one of the most effective cost-containment strategies for your business. Replacing workers is often extremely expensive. Employee retention is a critical issue, as losing employees can be costly and disrupt business operations. Employee turnover not only increases an organzation’s recruiting and training costs but also usually results in decreased productivity, lost proficiency, and a big impact on revenue. You can strengthen employee retention with the following strategies: Provide opportunities for career development and advancement: Offering training and development programs, mentorship opportunities, and promotions can help employees feel valued and invested in their future within the company. This can improve employee satisfaction and loyalty. Offer benefits to meet workers’ evolving needs: As the workforce becomes more diverse, businesses of all sizes need to offer a range of benefits that meet the needs of all employees. This can include flexible work arrangements, healthcare benefits, retirement plans, and paid time off. Improve employee engagement: Employee engagement is crucial for retention, and it can be improved through several methods. For example, encouraging employee feedback can help employees feel heard and valued, while providing flexibility in work schedules and locations can help employees achieve a better work-life balance. Strengthening workplace efficiency can also reduce employee frustration and improve overall satisfaction. Bolster workplace culture through public recognition and reward programs: Improve retention by creating a positive workplace culture that recognizes and rewards employee contributions. This can include public recognition programs, such as employee of the month awards, as well as reward programs that incentivize high performance. Be transparent when communicating with employees to help them understand important decisions and establish opportunities for two-way feedback. Invest in New Technology Adopting new technology is becoming increasingly important to stay competitive and thrive in today’s digital age. Technology can help save time and money by streamlining operations and allowing your business to operate more efficiently. Here are some key ways technology can help your business manage costs: Customer relationship management (CRM) software: CRM software can help manage customer relationships and sales processes, reducing the time and cost associated with manual sales tracking and management. Cloud-based software: Cloud-based software solutions allow you to store data and access software applications from anywhere, reducing the cost and time associated with maintaining and updating software systems. E-commerce platforms: E-commerce platforms enable you to sell your products and services online, reducing the cost and time associated with traditional retail operations. Digital communication tools: Digital communication tools, such as email, instant messaging, and video conferencing, can help to improve collaboration and communication between employees, customers, and partners, reducing the time and cost associated with travel and face-to-face meetings. Human resources management systems: HR management systems can help to automate and streamline HR processes, reducing the time and cost associated with manual data entry and paper-based processes. Low-code solutions: Low-code solutions can help to create custom software applications and workflows with minimal coding expertise, reducing the cost and time associated with software development. Artificial intelligence: Artificial intelligence can help to automate and optimize repetitive or complex tasks, such as data analysis, customer service, and supply chain management, reducing the time and cost associated with manual processes. Additionally, many businesses are turning to open-source software alternatives as a cost-effective alternative to brand- name software applications. By adopting new technology, you can gain a competitive edge, save time and money, and improve customer satisfaction, ultimately leading to increased growth and success for your business. Manage Health Care Costs Managing healthcare costs is a major concern, as rising healthcare expenses can have a significant impact on their bottom line. Finding cost-effective solutions is vital for your business to maintain affordable benefits and reduce costs. Solutions may include reevaluating plan designs and offerings, directing employees to cost-effective services, and improving employee healthcare literacy. Employers can leverage their relationship with their insurance brokers to explore cost-saving solutions, like obtaining details on organizational healthcare spending and educating employees on shopping for healthcare services. Here are some ways your business can focus on managing healthcare costs: Encourage wellness programs: By encouraging healthy lifestyle habits and providing wellness programs, you can reduce the risk of chronic health conditions and lower healthcare costs. Wellness programs can include fitness classes, healthy eating options, smoking cessation programs, and stress management resources. Promote preventative care: Encourage employees to get preventative care, such as regular check-ups, vaccinations, and cancer screenings. Preventative care can catch health issues early, when they are less expensive to treat. Consider telemedicine options: Telemedicine is an increasingly popular option for healthcare, as it allows employees to access healthcare professionals remotely. This can reduce healthcare costs and improve access to care for employees in remote locations or with mobility issues. Use technology to manage healthcare expenses: Technology can be used to manage healthcare expenses by using online portals to access healthcare information and track expenses. Additionally, consider using data analytics to analyze healthcare costs and identify areas for improvement. Partner with a benefits consultant: Partner with a benefits consultant who can help navigate the complex world of healthcare and find ways to reduce costs while maintaining quality care. Overall, your business needs to be proactive in managing healthcare costs to maintain financial stability. By encouraging wellness and preventative care, promoting telemedicine, using technology to manage expenses, and partnering with a benefits consultant, your business can reduce healthcare costs while continuing to maintain a healthy workforce. Embrace Outsourcing While performing tasks in-house can often be cost-effective, there are instances when outsourcing key responsibilities and tasks can be more economical and efficient helping to reduce in-house costs.. Manual, time-consuming tasks—such as payroll, HR, compliance and benefits administration—may be better suited for an HR outsourcing firm than managed in-house. Outsourcing these kinds of tasks can enable your employees to focus on their core responsibilities that have a greater and more direct impact on the business. Here are some reasons why outsourcing can be highly beneficial and cost-effective: Cost savings: Outsourcing can help save on costs, especially for tasks that are nonessential or not core to the business. For instance, outsourcing payroll, HR, compliance and benefits administration can be more cost-effective than hiring an in-house staff to perform these tasks. Time savings: Outsourcing time-consuming tasks can free up employees to focus on their core responsibilities that have a greater impact on the overall growth and revenue. This can help increase productivity and efficiency within the organization. Access to expertise: Outsourcing provides access to a team of experts who have specialized skills and experience in a particular area. For example, outsourcing IT services can give your business access to the latest technology and technical expertise that you may not have in-house. Scalability & flexiblity: Outsourcing can provide the flexibility to scale up or down quickly as business needs change. For instance, outsourcing customer service can allow your business to quickly ramp up during peak periods or cut back during slow periods without having to hire or lay off employees. Reduced risk: Outsourcing can also help dramatically reduce and mitigate risk, as some outsourcing contracts include guarantees of service levels, quality, and data security. This is especially true when working with an HR outsourcing firm to manage your benefits, payroll, and HR compliance-related initiatives and tasks. Adopt Flexible Work Arrangements The expense of having a physical workspace can add up. Each month, employers must pay rent, utilities, cleaning costs and other expenses. While these expenses are often unavoidable, some businesses are transitioning to remote and hybrid work arrangements to contain costs. These solutions may not be suitable for all industries or job positions, and if going hybrid or remote isn’t possible, consider downsizing facilities to reduce rent and utility bills. Your business can also explore other alternatives, such as co-working arrangements and renegotiating leases to term, to try and better manage costs. Here are some additional ways adopting flexible work arrangements can help reduce or contain costs for your business: Transitioning to remote work arrangements: This can help cut down on rent, utilities, cleaning costs, and other expenses associated with a physical workspace. While this may not be suitable for all industries or job positions, many businesses can consider offering flexible scheduling and improved benefits to lower overhead expenses. Downsizing facilities: If converting to a home-based business or going remote isn’t possible, consider downsizing. Additionally you can consider subletting excess space or renting out unused areas to generate additional income. Exploring alternative workspaces: Explore alternative workspace options, such as co-working arrangements, to reduce the cost of renting an entire workspace. This can help reduce rent and utilities, as well as provide networking opportunities and access to shared amenities. Overall, you should carefully evaluate your workspace needs and consider all options available to reduce overhead expenses. By doing so, your business can allocate more resources to growth initiatives, maintain positive company culture and drive long-term success. Reviewing Expenses Maintaining healthy cash flow is essential for your business to operate and survive, especially during difficult times. Reviewing expenses regularly can you help identify areas where you can adjust costs and optimize your spending and overall financial resources. Here are some ways in which reviewing expenses and building relationships with providers, suppliers, and vendors can help your business contain costs: Reviewing contacts with providers, suppliers, and vendors: Try reviewing your contract with their providers, suppliers, and vendors to see if there is any way to adjust your license, or services provided to try and reduce overall expenses. Identifying and eliminating unnecessary costs: By reviewing expenses regularly, you can identify and eliminate unnecessary costs. For example, eliminate subscriptions or services that are no longer used or needed. Building strategic partnerships: Building relationships with providers, suppliers, and vendors can help cultivate allies and strategic partners. These partnerships can potentially reduce your costs by sharing resources and collaborating on cost-saving solutions. For example, you can partner with a supplier to get better prices for materials or with a vendor to share marketing costs. By implementing these strategies, you can reduce expenses and optimize your financial resources, which can help you weather challenging times and achieve long-term success.

Read More
HR STRATEGY

A Short Guide to Enhancing People Skills at Work

Article | January 19, 2022

As the science behind employee engagement evolves, it’s become clear just how much businesses can gain from a happy and involved workforce. From improved performance, to reduced attrition, increased revenue and even a better customer experience, employee engagement is at the heart of business growth. Given these benefits, it’s no surprise that the role of HR departments is moving beyond just managing people and towards managing experiences.

Read More
HR STRATEGY

AI in HR and Why It's Super Important for Your Organization

Article | January 27, 2022

Employees are companies most valuable asset – Without the talent, knowledge and expertise those employed bring to an organisation, it’s safe to say that the business world would be a very different landscape. Human Resources is often held responsible for owning the employee value strategy, where we’re now embracing tremendous improvements in how the value that employees bring, can be achieved. Here we’ll explore how data analysis, learning & development, employee engagement, 360 feedback and flexibility all offer a significant opportunity to improve employee output within every organisation in 2020.

Read More

6 Reasons To Invest In Employee Onboarding In Your Organization

Article | February 10, 2020

You never get a second chance to make a first impression. This holds particularly true when it comes to employee onboarding. It's a new hire's introduction to the organization and the experience has a significant impact on employee retention. Unfortunately, that's why it's rare to see many employees with years of tenure. Research by Future Workplace found that 91% of Millennials expect to stay in a job for less than 3 years. Companies lose 25% of all new employees within the first year, according to SHRM, but almost 70% of employees are more likely to stay with a company for 3 years if they experienced great onboarding.

Read More
MORE ARTICLES

Spotlight

Talentvis

Talentvis is a leading Recruitment & Executive Search Group with offices growing across Asia Pacific. With our expertise recruiting in over ten industries, Talentvis is a platform that connects you to opportunities that further your career. At Talentvis, you will find partners rather than mere recruiters. We understand there is no one-size-fits-all approach when it comes to finding success in our careers. That’s why we take a meticulous and consultative approach that matches you with the right opportunities and connections. Being your trusted partner is a responsibility that we take seriously.

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HR ANALYTICS, HR STRATEGY

Explorance Launches General Availability of BlueML and Free Feedback Analytics

Explorance | March 03, 2023

Explorance, a leading provider of People Insight Solutions, has announced the general availability of Explorance BlueML and a special free offer for the award-winning workforce and student sentiment analysis solution. BlueML, a prominent ML tool trained on employee and student answers, provides meaningful insights from enormous datasets of comments and feedback in minutes. Businesses and academic institutions can better understand employee and student needs and expectations, and take proactive steps to support a more satisfied, engaged, and well-trained workforce or student population. It is expected to eliminate time-consuming manual review and data organizing processes. Explorance machine learning methods also reduce human bias in large data sets. MIT News reported that MIT and Harvard's researchers showed that training machine learning models on varied data sources minimize bias. BlueML categorizes thousands of staff and student feedback responses consistently, supporting this idea. Samer Saab, Explorance Founder and CEO, said, "With BlueML, organizations can now bring to light the uncommon connections, and deep insights, about employees or students, that are otherwise, not easily accessible. With automated and intelligent analysis, the time and effort it takes to unlock data-driven decisions is significantly reduced, empowering organizations to act by evidence and not by assumption." (Source - CISION PR Newswire) Explorance BlueML for Employee Experience HR is becoming more strategic and may represent employees in boardroom discussions. HR can improve employee retention, engagement, and performance through data. The brave conversations that HR leaders have, informed by employee sentiment and organized by diverse workgroups, provide insights into decision-making. Explorance BlueML for Student Experience The Student Experience Categorization Model helps academic leaders and administrators focus on student success. BlueML powers the complete educational experience of students viz: application, student life, learning, and alumni. "The technology innovations that Explorance is coming out with are vitally important. Our research shows that most organizations (62%) do not have a strong understanding of the needs of their workforces, their skills, motivations or what they value – and don't value – in their employment. It is impossible to make great business and talent decisions without insights borne from people data. Many organizations are sitting on rich data that they don't have the expertise or tools to analyze. Solutions like Explorance BlueML can be a real game-changer," said Claude Werder, Senior VP and Principal Analyst at Brandon Hall Group. (Source- CISION PR Newswire) About Explorance Founded in 2003 and headquartered in Montreal, Explorance is an industry-leading provider of People Insight Solutions, which facilitates effective decision-making for businesses by gauging their employees' and students' requirements, expectations, abilities, knowledge and skills. Individual development and business adaptability can both benefit from an environment that encourages exploration since it speeds up the cycle from insight to action. They partner with 25% of the Fortune 100 and 25% of the top Higher Education institutions, including 8 of the world's top 10 business schools.

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PrimePay Unveils New Payroll-Connected On-Demand Pay

PRnewswire | March 24, 2023

PrimePay, LLC., a national human capital management (HCM) technology leader, today announced the launch of its Payroll-Connected On-Demand Pay in partnership with Clair, an embedded financial wellness solution that helps employees cover expenses in the moment. Clair is connected to PrimePay's payroll and HR technology, streamlining earned wage advance loans without disrupting working capital or payroll administration. According to SCORE, a Small Business Administration resource partner, employment challenges have overtaken financing and acquiring customers as the number one challenge keeping business owners up at night. In a recent study by Ernst & Young*, nearly 60% of employees would view a prospective employer more favorably if on-demand pay was part of a new job offer. Flexible on-demand pay is a fast-growing job perk that employers can offer prospective and current employees at no cost. "Whether it's medical bills, car repairs, or an extra credit card payment, our employees now have access to their money when they need it, if they need it," said Chief Performance Officer Patrick O'Hara at EverView, a PrimePay client. In the first 45 days of EverView's usage of the offering, the adoption rate exceeded 10%. Key Features Include: Payroll-Connected - Fully Integrated On-Demand Pay No disruption to payroll administration No cost to employers No cost or service fees to employees Easy-to-use employee self-service mobile app "The worker shortage has hit small businesses hard, forcing employers to find new ways to attract and retain talent," said Scott Johnson, Chief Executive Officer of PrimePay. "Our new On-Demand Pay offering, powered by Clair and originated by Pathward, N.A., streamlines earned wage access for employers and gives workers the flexibility of accessing a portion of their earned wages to cover costs before payday." About PrimePay PrimePay®, founded in 1986, is a payroll service and human capital management (HCM) provider, offering solutions that empower businesses to focus on what matters most. We deliver highly configurable HR and payroll solutions designed to create efficiencies and to maximize compliance for our clients across our nationwide presence. To learn more, visit primepay.com. PrimePay is backed by Aquiline Capital Partners, a private investment firm based in New York and London with $8.7 billion in assets under management that invests in businesses globally across financial services and technology. About Clair Clair is a New York-based mission-driven financial technology company that is breaking the paycheck-to-paycheck cycle by offering free On-Demand Pay to America's workforce. Clair embeds seamlessly into human capital management and workforce management platforms and enhances the overall employee experience. For more information, visit getclair.com. About Pathward®: Pathward®, N.A., a national bank, is a subsidiary of Pathward Financial, Inc. (Nasdaq: CASH). Pathward is a U.S.-based financial empowerment company driven by its purpose to power financial inclusion. Pathward strives to increase financial availability, choice and opportunity across our Banking as a Service and Commercial Finance business lines. The strategic business lines provide end-to-end support to individuals and businesses. Learn more at Pathward.com.

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HR ANALYTICS, HR STRATEGY

Lattice’s People Strategy Group Helps HR Leaders Create Business-Driven People Programs

Lattice | March 08, 2023

HR solutions provider, Lattice, recently announced the launch of its People Strategy Group. The People Strategy Group is a consulting consortium that assists senior leaders in developing efficient people programs with certainty, enhancing employee engagement, optimizing team performance, and producing outstanding business outcomes. The group represents a development of Lattice's Advisory Services, focusing on readying companies for the constantly changing world of work. In recent years, businesses have faced numerous challenges that demanded quick adaptations from HR teams and leaders. The pandemic and its impact on work arrangements and mental health, the "Great Resignation," and a growth period have highlighted the need for retention and hiring strategies. As an impending recession looms, businesses are under pressure to achieve growth with limited resources while prioritizing top-performing employees. The People Strategy Group consists of a team of experienced people strategists with more than 100 years of HR experience and extensive expertise in various domains, such as workforce planning, organizational design, people analytics, and executive leadership coaching. They will collaborate directly with people leaders to create and execute personalized HR strategies that are highly effective. These strategies will involve goal management and OKRs, talent management, compensation, and career development, drawing on the team's knowledge of operations, research, and principles of exceptional people management. Furthermore, customer feedback and research projects support the team’s work, ensuring that all recommendations are grounded in practical trends and outcomes. Dave Carhart, VP of the People Strategy Group, Lattice, said, "We understand that there is a clear difference between understanding what you need to drive more effective people programs, and knowing how to execute the changes and approaches necessary to make it happen." He further added, "Our goal is to help our customers unlock the tools to not only create and launch high-impact people programs, but to ensure those programs are designed strategically for the specific needs and challenges facing their organizations." (Source – CISION PR Newswire) About Lattice Lattice is a platform that empowers business leaders to build engaged, high-performing teams and cultivate winning cultures through people success. Its suite of tools simplifies the process of launching 360 performance review cycles and engagement surveys, tracking progress towards OKR/goals, gathering real-time feedback, and promoting manager 1-on-1 meetings. Lattice aims to make work more meaningful by improving people strategy and enhancing business strategy.

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HR ANALYTICS, HR STRATEGY

Explorance Launches General Availability of BlueML and Free Feedback Analytics

Explorance | March 03, 2023

Explorance, a leading provider of People Insight Solutions, has announced the general availability of Explorance BlueML and a special free offer for the award-winning workforce and student sentiment analysis solution. BlueML, a prominent ML tool trained on employee and student answers, provides meaningful insights from enormous datasets of comments and feedback in minutes. Businesses and academic institutions can better understand employee and student needs and expectations, and take proactive steps to support a more satisfied, engaged, and well-trained workforce or student population. It is expected to eliminate time-consuming manual review and data organizing processes. Explorance machine learning methods also reduce human bias in large data sets. MIT News reported that MIT and Harvard's researchers showed that training machine learning models on varied data sources minimize bias. BlueML categorizes thousands of staff and student feedback responses consistently, supporting this idea. Samer Saab, Explorance Founder and CEO, said, "With BlueML, organizations can now bring to light the uncommon connections, and deep insights, about employees or students, that are otherwise, not easily accessible. With automated and intelligent analysis, the time and effort it takes to unlock data-driven decisions is significantly reduced, empowering organizations to act by evidence and not by assumption." (Source - CISION PR Newswire) Explorance BlueML for Employee Experience HR is becoming more strategic and may represent employees in boardroom discussions. HR can improve employee retention, engagement, and performance through data. The brave conversations that HR leaders have, informed by employee sentiment and organized by diverse workgroups, provide insights into decision-making. Explorance BlueML for Student Experience The Student Experience Categorization Model helps academic leaders and administrators focus on student success. BlueML powers the complete educational experience of students viz: application, student life, learning, and alumni. "The technology innovations that Explorance is coming out with are vitally important. Our research shows that most organizations (62%) do not have a strong understanding of the needs of their workforces, their skills, motivations or what they value – and don't value – in their employment. It is impossible to make great business and talent decisions without insights borne from people data. Many organizations are sitting on rich data that they don't have the expertise or tools to analyze. Solutions like Explorance BlueML can be a real game-changer," said Claude Werder, Senior VP and Principal Analyst at Brandon Hall Group. (Source- CISION PR Newswire) About Explorance Founded in 2003 and headquartered in Montreal, Explorance is an industry-leading provider of People Insight Solutions, which facilitates effective decision-making for businesses by gauging their employees' and students' requirements, expectations, abilities, knowledge and skills. Individual development and business adaptability can both benefit from an environment that encourages exploration since it speeds up the cycle from insight to action. They partner with 25% of the Fortune 100 and 25% of the top Higher Education institutions, including 8 of the world's top 10 business schools.

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EMPLOYEE BENEFITS, PAYROLL

PrimePay Unveils New Payroll-Connected On-Demand Pay

PRnewswire | March 24, 2023

PrimePay, LLC., a national human capital management (HCM) technology leader, today announced the launch of its Payroll-Connected On-Demand Pay in partnership with Clair, an embedded financial wellness solution that helps employees cover expenses in the moment. Clair is connected to PrimePay's payroll and HR technology, streamlining earned wage advance loans without disrupting working capital or payroll administration. According to SCORE, a Small Business Administration resource partner, employment challenges have overtaken financing and acquiring customers as the number one challenge keeping business owners up at night. In a recent study by Ernst & Young*, nearly 60% of employees would view a prospective employer more favorably if on-demand pay was part of a new job offer. Flexible on-demand pay is a fast-growing job perk that employers can offer prospective and current employees at no cost. "Whether it's medical bills, car repairs, or an extra credit card payment, our employees now have access to their money when they need it, if they need it," said Chief Performance Officer Patrick O'Hara at EverView, a PrimePay client. In the first 45 days of EverView's usage of the offering, the adoption rate exceeded 10%. Key Features Include: Payroll-Connected - Fully Integrated On-Demand Pay No disruption to payroll administration No cost to employers No cost or service fees to employees Easy-to-use employee self-service mobile app "The worker shortage has hit small businesses hard, forcing employers to find new ways to attract and retain talent," said Scott Johnson, Chief Executive Officer of PrimePay. "Our new On-Demand Pay offering, powered by Clair and originated by Pathward, N.A., streamlines earned wage access for employers and gives workers the flexibility of accessing a portion of their earned wages to cover costs before payday." About PrimePay PrimePay®, founded in 1986, is a payroll service and human capital management (HCM) provider, offering solutions that empower businesses to focus on what matters most. We deliver highly configurable HR and payroll solutions designed to create efficiencies and to maximize compliance for our clients across our nationwide presence. To learn more, visit primepay.com. PrimePay is backed by Aquiline Capital Partners, a private investment firm based in New York and London with $8.7 billion in assets under management that invests in businesses globally across financial services and technology. About Clair Clair is a New York-based mission-driven financial technology company that is breaking the paycheck-to-paycheck cycle by offering free On-Demand Pay to America's workforce. Clair embeds seamlessly into human capital management and workforce management platforms and enhances the overall employee experience. For more information, visit getclair.com. About Pathward®: Pathward®, N.A., a national bank, is a subsidiary of Pathward Financial, Inc. (Nasdaq: CASH). Pathward is a U.S.-based financial empowerment company driven by its purpose to power financial inclusion. Pathward strives to increase financial availability, choice and opportunity across our Banking as a Service and Commercial Finance business lines. The strategic business lines provide end-to-end support to individuals and businesses. Learn more at Pathward.com.

Read More

HR ANALYTICS, HR STRATEGY

Lattice’s People Strategy Group Helps HR Leaders Create Business-Driven People Programs

Lattice | March 08, 2023

HR solutions provider, Lattice, recently announced the launch of its People Strategy Group. The People Strategy Group is a consulting consortium that assists senior leaders in developing efficient people programs with certainty, enhancing employee engagement, optimizing team performance, and producing outstanding business outcomes. The group represents a development of Lattice's Advisory Services, focusing on readying companies for the constantly changing world of work. In recent years, businesses have faced numerous challenges that demanded quick adaptations from HR teams and leaders. The pandemic and its impact on work arrangements and mental health, the "Great Resignation," and a growth period have highlighted the need for retention and hiring strategies. As an impending recession looms, businesses are under pressure to achieve growth with limited resources while prioritizing top-performing employees. The People Strategy Group consists of a team of experienced people strategists with more than 100 years of HR experience and extensive expertise in various domains, such as workforce planning, organizational design, people analytics, and executive leadership coaching. They will collaborate directly with people leaders to create and execute personalized HR strategies that are highly effective. These strategies will involve goal management and OKRs, talent management, compensation, and career development, drawing on the team's knowledge of operations, research, and principles of exceptional people management. Furthermore, customer feedback and research projects support the team’s work, ensuring that all recommendations are grounded in practical trends and outcomes. Dave Carhart, VP of the People Strategy Group, Lattice, said, "We understand that there is a clear difference between understanding what you need to drive more effective people programs, and knowing how to execute the changes and approaches necessary to make it happen." He further added, "Our goal is to help our customers unlock the tools to not only create and launch high-impact people programs, but to ensure those programs are designed strategically for the specific needs and challenges facing their organizations." (Source – CISION PR Newswire) About Lattice Lattice is a platform that empowers business leaders to build engaged, high-performing teams and cultivate winning cultures through people success. Its suite of tools simplifies the process of launching 360 performance review cycles and engagement surveys, tracking progress towards OKR/goals, gathering real-time feedback, and promoting manager 1-on-1 meetings. Lattice aims to make work more meaningful by improving people strategy and enhancing business strategy.

Read More

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