The new feature, ‘SmartPay’, has been born out of PayCaptain’s thorough market research into employee savings behaviour, which has uncovered that a notable proportion of UK workers are having issues with their financial security.

To gather this information, PayCaptain worked with both Nest Insight and the Behavioural Insights Team (BIT) over a period of 15 months on a paper around using payroll to build financial resilience – discovering that almost half of UK workers experience financial difficulties. The research has also determined that people with variable and unpredictable incomes are more likely to be impacted by poor financial wellbeing, and the majority of workers feel they would benefit from personalised support and guidance regarding money management.

SmartPay was then designed with this research in mind, and PayCaptain also worked with the BIT to curate SmartPay’s functionality in order to help users overcome the ‘behavioural barriers’ that many – according to their study – are said to be having with making savings.

The technology also offers a variety of personalised financial services, all delivered via PayCaptain’s mobile app. These services – which sit alongside PayCaptain’s existing payroll tools – are powered by bespoke recommendations for employees that they can make to build their financial resilience at key points.

During SmartPay’s onboarding journey, for instance, a user has to answer a series of questions designed by the Money and Pensions Service to measure their existing ‘financial resilience’, before giving them a unique ‘well being score’. This score is then used to tailor the financial recommendations they receive. An example of this being if an employee received a pay rise or bonus, SmartPay would acknowledge this in real time and automatically offer appropriate suggestions where this employee could save their money and how much they could put away.

Simon Bocca, the Founder of PayCaptain, offered these thoughts on SmartPay and how it can be used:

“Our research quickly showed us that millions of people would benefit from guidance with their money, so it simply made sense for us to create SmartPay as a way for employees to benefit far more from the process of getting paid. We also wanted to make sure that SmartPay was intuitive and easy to use, which is why we worked so closely with the BIT on its functionality.

“Ultimately, being able to get automatic prompts and recommendations at key points and to move appropriate amounts of money in just a few taps really takes friction out of what some people find to be difficult decisions and subsequently helps overcome barriers to saving. The results so far from those using SmartPay have been very positive too; we’ve seen a 205% increase in the numbers of users now making savings, while so far 7 out 10 employees who were shown SmartPay have told us they want to use it.”

An early adopter of SmartPay is existing PayCaptain client, Dishoom, who have already championed the positive impact the feature has had with the employees who use it. Kate Moscardini, Head of People at Dishoom, offered these comments:

“SmartPay has brought about a whole new level of positive financial engagement and education for Dishoom employees. More people are saving money regularly with the option of FSCS protected, interest bearing savings accounts. More people are putting extra into their retirement funds and over £45,000’s worth of state benefits have been identified that the team could be missing out on claiming. The launch saw high numbers of engagement and it’s been fantastic to watch the numbers of savers grow, knowing they have extra peace of mind with access to a financial buffer that they did not have before”.

PayCaptain also hopes that businesses whose employees use SmartPay will begin to realise a variety of additional benefits. This is because PayCaptain believes that a financially resilient and secure workforce will lead to lower stress levels and increased productivity, engagement and efficiency.

SmartPay officially launched November 2024 and new or existing customers are also able to book a demo if they would like to trial the new feature before choosing to upgrade.

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The Rise of Early-Paycheck Programs

Waiting for payday has been a cornerstone of traditional employment for decades. However, financial strain often forces employees to turn to high-interest payday loans, credit cards, or other costly forms of debt to cover their immediate needs. Early-paycheck programs aim to solve this issue by allowing workers to access some of their earned wages before the scheduled payday.

Advancements in financial technology (fintech) have contributed to the growth of these programs. Through user-friendly apps and software, employees can request earned wages instantly, bypassing the rigid limitations of traditional payroll cycles. This shift isn’t just convenient—it represents a broader transformation in how companies support their workforce.

Employers are increasingly adopting these programs, recognizing the link between financial stress and reduced productivity. With early-paycheck access, workers gain control over their earnings, while companies benefit from a happier and more engaged workforce. It’s a win-win situation that signals a major shift in workplace benefits.

How Early-Paycheck Programs Work

Early-paycheck programs operate on a simple premise: employees should have access to the money they’ve already earned. These programs are often integrated into payroll systems, making them seamless and efficient. When an employee opts to access their earned wages, the amount is typically deducted from their upcoming paycheck.

For instance, an employee who has worked two weeks but isn’t due to be paid for another week could access a portion of their earned wages to cover an unexpected expense. This process is facilitated through digital platforms, often requiring just a few clicks or taps on a mobile app.

Notably, these programs aren’t loans. Employees are not borrowing money but simply withdrawing what they’ve already earned. This distinction eliminates concerns about interest rates or repayment schedules. Additionally, many early-paycheck services charge minimal or no fees, making them an attractive alternative to traditional lending options.

Benefits for Employees: Financial Flexibility and Reduced Stress

One of the most significant advantages of early-paycheck programs is their financial flexibility. For employees living paycheck to paycheck, even minor unexpected expenses—like car repairs or medical bills—can cause significant stress. By providing access to earned wages, these programs can alleviate the financial strain and help workers avoid high-interest loans.

For example, imagine an employee needing funds for a child’s urgent prescription. An early-paycheck program allows them to quickly access their earnings to cover the cost instead of relying on a credit card or payday loan. This immediate access to cash can make a profound difference, fostering a sense of security and control.

Moreover, financial wellness has been linked to mental and physical health. Workers less worried about finances are more focused, productive, and satisfied with their jobs. By reducing financial stress, early-paycheck programs contribute to a healthier and more motivated workforce.

Advantages for Employers: Productivity and Retention

Employers also reap significant benefits from offering early-paycheck programs. Financial stress among employees often leads to decreased productivity, absenteeism, and higher turnover rates. By addressing these issues proactively, companies can foster a supportive work environment prioritizing employee well-being.

Early access to wages can also be a powerful tool for attracting and retaining talent. In a competitive job market, benefits beyond traditional compensation—such as financial wellness programs—can set a company apart. Employees are likely to stay with an employer that values their financial stability and offers innovative solutions to meet their needs.

Additionally, early-paycheck programs are cost-effective for employers to enhance their benefits package. Implementing these systems typically requires minimal investment, especially when partnering with established fintech providers. The long-term benefits, however, far outweigh the initial setup costs, making them a smart choice for forward-thinking organizations.

Addressing Concerns: Misuse and Financial Discipline

While early-paycheck programs offer undeniable advantages, they are not without potential drawbacks. Critics argue that providing instant access to wages could encourage poor financial habits or overspending. Employees may become reliant on early access, potentially disrupting their long-term financial planning.

To mitigate these risks, many providers include financial education tools as part of their offerings. These resources help employees budget effectively, set savings goals, and make informed decisions about their money. Employers can also play a role by promoting financial literacy alongside these programs, ensuring workers use them responsibly.

Moreover, some early-paycheck services limit the frequency or amount of withdrawals, preventing employees from over-accessing their earnings. Such safeguards balance financial flexibility and discipline, encouraging responsible usage while addressing immediate needs.

The Future of Paydays: A Paradigm Shift

The rise of early-paycheck programs reflects a broader cultural shift toward financial inclusivity and flexibility. As these programs become more popular, they may pave the way for even greater innovation in employee benefits.

For example, some companies are exploring combining early access with broader financial wellness initiatives, such as employer-sponsored savings accounts, retirement contributions, or debt repayment assistance. These comprehensive solutions aim to empower employees in the short term and throughout their financial journeys.

As technology continues to evolve, so too will our attitudes toward paydays. The traditional paycheck schedule may eventually give way to a more dynamic and personalized approach, in which workers have greater control over how and when they are paid.

Conclusion

Early-paycheck programs are revolutionizing the way we think about paydays and financial wellness. By providing employees with immediate access to earned wages, these programs offer a lifeline in times of need, reduce financial stress, and contribute to a more engaged and productive workforce. For employers, they represent a forward-thinking solution that enhances retention and supports overall employee satisfaction.

The post Revolutionizing Paydays: How Early-Paycheck Programs Are Reshaping Financial Wellness appeared first on Fintech News.

Today’s business environment requires a fast-paced workflow; therefore, Human Resources (HR) and Payroll are critical functions that, when managed effectively, can significantly impact an organization’s success. Traditionally, these two areas have often been managed by separate systems, leading to various challenges.

A unified HR and Payroll platform, on the other hand, offers a comprehensive solution that can streamline operations, improve efficiency, and enhance employee satisfaction. With the help of HR and Payroll functions, a single platform, organizations can eliminate manual processes, reduce errors, and gain valuable insights into their workforce.

The Pain Points Of Separate HR And Payroll Systems

When HR and Payroll systems operate independently, organizations often encounter significant challenges. One of the most common issues is data inconsistencies and errors, and data synchronization becomes a significant challenge. 

Discrepancies can arise due to manual data entry, system integrations, and human error. These inconsistencies can lead to critical errors in payroll processing, benefits administration, and regulatory compliance. 

A recent study by Ernst & Young found that data errors in HR and Payroll systems can cost organizations an average of $291 per employee per year.

Besides, traditional HR and Payroll systems often rely on manual processes, such as paper-based forms, spreadsheets, and manual data entry. These repetitive tasks consume valuable time and resources. 

For example, a survey revealed that HR professionals spend 14 hours per week on manual tasks. This not only reduces productivity but also increases the risk of human error.

Separate HR and Payroll systems often hinder real-time access to critical data. This lack of visibility can impede decision-making and strategic planning. For instance, it becomes difficult to analyze workforce trends, identify potential risks, and make informed decisions about workforce optimization without accurate and up-to-date data.

The Advantages Of A Unified HR And Payroll Platform

A unified HR and Payroll platform offers many benefits that can transform how organizations manage their workforce. Integrating HR and Payroll processes into a single system can simplify operations, improve efficiency, and enhance employee satisfaction.

It Improves Efficiency And Productivity

Automation of Tasks

A unified platform empowers organizations to automate routine tasks such as onboarding, offboarding, time and attendance tracking, and payroll processing. 

Organizations can significantly reduce manual effort, save time, and minimize errors by automating these processes. A recent study by Deloitte found that automating HR and Payroll tasks can increase productivity by 40%.

Simplified Workflows

A unified platform eliminates the need for manual data entry and transfer between multiple systems. This streamlined approach facilitates smooth workflows, reduces bottlenecks, and accelerates decision-making. 

Additionally, a centralized system provides a single source of truth for all HR and Payroll data, ensuring consistency and accuracy across the organization.

It Enhances Data Accuracy And Security

Single Source of Truth

A unified platform establishes a single source of truth for all HR and Payroll data. This eliminates data silos and ensures that information is accurate, consistent, and up-to-date. Organizations can make informed decisions, improve compliance, and streamline reporting by having a centralized repository of employee data.

Robust Security Measures

Modern unified HR and Payroll platforms prioritize data security and privacy. They employ advanced security measures such as encryption, access controls, and regular security audits to protect sensitive employee information. 

With data, organizations can mitigate the risk of data breaches and maintain compliance with data protection regulations.

It Improves Employee Experience

Self-Service Portal

A unified platform often includes a self-service portal that empowers employees to independently access and manage their HR and Payroll information. This empowers employees to update their personal information, view pay stubs, submit time-off requests, and enroll in benefits. 

Self-service portals can significantly improve employee satisfaction and engagement by providing a convenient and efficient way to access HR services.

Personalized Benefits

A unified platform enables organizations to offer personalized benefits packages that cater to their employees’ specific needs and preferences. Organizations can attract and retain top talent by tailoring benefits to individual employees. Additionally, personalized benefits can improve employee satisfaction and well-being.

Key Features Of A Unified HR and Payroll Platform

A unified HR and Payroll platform has essential features that streamline HR operations and optimize payroll processing. Let’s delve into some key features you can expect from such a platform.

Core HR

A robust HR platform offers a comprehensive suite of tools for managing employee information. This includes employee records, contact details, emergency contacts, and employment history. Additionally, it streamlines onboarding and offboarding processes, ensuring a smooth transition for new hires and departing employees. 

Performance management features enable organizations to set goals, track progress, and conduct performance reviews. Talent acquisition modules facilitate efficient recruitment and hiring processes while learning and development tools support employee growth and skill enhancement.

Payroll Processing

Accurate and timely payroll processing is crucial for employee satisfaction and legal compliance. A unified platform simplifies payroll tasks by automating calculations, tax deductions, and generating pay slips. 

Tools like Onpay’s payroll calculator can further assist in accurate salary calculations, ensuring that employees receive the correct compensation. The platform also automates direct deposit and check generation, reducing manual effort and minimizing errors.

• A unified platform streamline benefits administration by managing enrollment, eligibility, and deductions. It can also integrate with third-party benefits providers to simplify the process.
• Staying compliant with complex tax laws and regulations can be challenging. A unified platform helps organizations stay up-to-date with tax changes and automatically calculates and withholds taxes.
• Time and attendance features allow organizations to track employee hours, manage shift schedules, and calculate overtime pay. This ensures accurate payroll calculations and helps organizations comply with labor laws.
• A unified platform provides robust time and attendance management capabilities. It enables organizations to track employee hours, manage shift schedules, and calculate overtime pay. This ensures accurate payroll calculations and helps organizations comply with labor laws.

Reporting and Analytics

A unified platform offers powerful reporting and analytics tools that provide valuable insights into workforce data. 

Organizations can generate customizable reports on various HR and Payroll metrics, such as workforce demographics, turnover rates, and compensation trends. Data-driven insights help organizations make informed decisions, optimize workforce planning, and improve overall HR efficiency.

Final Thoughts

A unified HR and Payroll platform is a powerful tool that can revolutionize how organizations manage their workforce. These platforms offer significant benefits by simplifying processes, improving data accuracy, and enhancing employee experience.

If your business adopts a unified HR and Payroll platform, it can witness the full potential of its workforce, drive operational efficiency, and achieve long-term success. 

If you’re ready to streamline your HR and Payroll processes and elevate your organization, consider exploring the various unified platform options available in the market.

The post The Benefits Of A Unified HR And Payroll Platform appeared first on Fintech News.

The EOR’s Role: Navigating the Complexities

An EOR serves as the legal employer of your international workforce, assuming responsibility for critical HR functions such as payroll, benefits administration, and compliance with local laws. This allows you to hire and manage employees in various countries without establishing a physical presence or legal entity in each location, significantly reducing the friction associated with global expansion.

Smooth Market Entry: EOR as Your Launchpad

Entering a new market can be a risky endeavor. EORs provide a strategic advantage by allowing you to test the waters without committing to a full-fledged local entity. 

This phased approach enables you to:

• Assess Market Viability: Gather valuable data on local market conditions, consumer behaviour, and the competitive landscape before making significant investments.
• Establish a Local Presence: Build a local team and create brand awareness while legal incorporation is in progress, accelerating your time to market.
• Mitigate Financial Risk: Avoid the upfront costs and complexities of setting up a foreign subsidiary, minimizing your financial exposure during the initial stages of expansion.

Navigating Compliance and Legal Challenges

Compliance with local labor laws, tax regulations, and employment standards is paramount for successful global expansion. According to an article, failure to adhere to these regulations can result in severe penalties, legal disputes, and damage to your company’s reputation. EORs act as your compliance compass, ensuring you navigate these complexities with ease.  

• Local Expertise: EORs possess in-depth knowledge of local laws and regulations, keeping you updated on any changes and ensuring your employment practices are always compliant.
• Payroll and Tax Management: EORs handle all aspects of payroll processing, tax withholdings, and benefits administration in full compliance with local requirements.
• Contractual Agreements: EORs draft and manage localized employment contracts, protecting both you and your employees and minimizing the risk of legal disputes.

Streamlining HR Operations

Beyond compliance, EORs provide a range of HR services that streamline your operations and enhance the employee experience.

• Onboarding and Offboarding: EORs manage the onboarding and offboarding processes, ensuring a seamless and positive experience for both new hires and departing employees.
• Benefits Administration: EORs can provide access to competitive benefits packages tailored to the local market, helping you attract and retain top talent.
• Employee Support: EORs act as a central point of contact for your international employees, providing support and guidance on HR-related matters.

The Bottom Line: Smooth Sailing in Global Waters

In the dynamic world of international business, EORs play a pivotal role in facilitating smooth market transitions. By mitigating risks, streamlining operations, and enhancing the employee experience, they empower businesses to confidently navigate the complexities of global expansion and achieve sustainable growth in new markets. Choosing the best employer of record is essential for ensuring compliance and facilitating a smooth market entry, as their proven experience can significantly streamline the process and mitigate potential challenges.

So, if you’re ready to set sail on your global expansion journey, consider partnering with an EOR to ensure smooth sailing and a successful arrival in new territories.

The post How EOR Services Facilitate Smooth Market Transitions appeared first on Fintech News.

This situation has increased the chances of cyberattacks because now there are more entry points for hackers to access information. To control this risk and guarantee a secure remote working atmosphere, organizations require comprehensive cybersecurity methods. This blog post will look into important actions that ensure cybersecurity in remote workforce management.

Using Tech For Screen Monitoring

When dealing with remote management, there are several aspects that take center stage. For example, well-rounded remote system monitoring software captures customizable screenshots that let you see your team’s priorities at intervals of your choice.

Moving forward, in the context of real-time screen monitoring, observing what is happening on computer screens in real time has an important role to play, both for attention-keeping and strengthening cybersecurity, because it actively observes user activities on the screens. It continuously examines the displayed content – like applications, websites, and user interactions – making it possible for organizations to find and deal with possible dangers. Additionally, it can help detect any harmful or unwanted behavior.

Securing Devices and Networks

The starting point for remote work cybersecurity is to make sure that devices and networks used by employees are safe. Organizations should establish policies on how devices are used, such as promoting the use of company-provided devices or making sure strict security rules are followed for personal ones. Encryption software should be mandatory to safeguard sensitive data at rest. In addition, investing in a data security platform offers comprehensive protection for your business by enabling the classification, discovery, and detection of security threats, ensuring a proactive approach to safeguarding sensitive information.

A virtual private network (VPN) establishes a safe tunnel for data traffic between devices that are far away and the company network. This safeguard is crucial when using public Wi-Fi connections because it encrypts all information sent or received on these networks.

Old software has weak points that cybercriminals can use, creating risk. To lessen this danger, it is important to make sure all operating systems and applications on remote devices have regular updates. Software for monitoring remote systems might handle this process automatically, guaranteeing uniform coverage for the whole work staff.

Educating and Empowering: The Human Firewall

Technical measures are very significant for remote work cybersecurity, but they cannot replace the need for an educated and strong workforce. Many times, employees form a primary defense against cyber threats by being human firewalls to phishing attacks or social engineering scams.

It’s very important to have regular security awareness training. In these trainings, employees should learn how to recognize and avoid cyber threats. This includes knowing the signs of phishing emails, understanding good password habits for making strong and unique passwords, as well as knowing the correct actions to take if they encounter any suspicious activity while working.

Building a Culture of Shared Vigilance: Beyond Policies and Training

A strong cybersecurity culture is not only about putting in place training programs and security policies. It also means creating a common sense of duty to protect data security throughout the whole organization. This cultural change depends on two important factors.

First, strong leadership commitment is very important. Senior management needs to make cybersecurity a clear priority by including it in the company’s culture without any doubt. This commitment requires setting aside needed resources for backing up continuous safety actions. Cybersecurity leadership is a strong message that supports taking action to protect data.

Secondly, it’s very important to encourage open communication. The workers must be confident in reporting any doubtful action or asking for an explanation about security rules without worrying they will get into trouble. This needs a no-blame zone where the staff feels at ease expressing worries with no delay. By setting up channels for communication, organizations can use the workforce’s collective vigilance to locate and handle possible threats at an early stage.

Conclusion

The rise in remote work has certainly altered the cybersecurity scenario. There is no longer a secure company network; it has been substituted by distributed surroundings that exhibit more vulnerabilities. Yet, this alteration does not have to be terrifying. 

To succeed in this new normal, organizations must follow a complete plan. This plan needs to have three main parts: welcoming new technologies such as remote monitoring software, valuing constant learning among employees about good cybersecurity habits, and promoting a culture of security awareness within the whole organization. 

By dealing with these elements beforehand, businesses can protect their data and give strength to their remote workers while also realizing the full potential of having a team spread across different locations.

The post How to Ensure Cybersecurity in Remote Workforce Management appeared first on Fintech News.

AI Applications in Human Resources

The landscape of HR has undergone many changes with the advent of various technologies. But now, with the integration of AI, we can see the potential to go beyond what traditional methods provide. These applications can be used for recruitment, onboarding, training, and performance management.

Recruitment and Hiring

An impressive way that AI can be used is within the recruitment process. By using natural language processing algorithms, AI can sift through volumes of resumes to find candidates and pinpoint their potential based on historical data within your organisation. Global recruitment solutions integrated with AI allow businesses to efficiently manage the complexities of hiring across multiple countries, ensuring they attract the best talent while remaining compliant with varying international regulations. implementation of AI-driven recruitment software has streamlined hiring procedures by enhancing efficiency, minimising biases and resulting in higher-quality candidates.

Employee Orientation and Training

When recruitment is done, we can now look at employee orientation and training. Luckily, AI has an impressive impact on how companies train and provide orientation for their employees. Customised chatbots can provide information and guidance for new hits, and AI can help develop tailor-made training based on learning the needs of employees. These innovations will help improve skills and job satisfaction.

Performance Evaluation

The traditional annual performance reviews are being replaced by AI-driven continuous and real-time performance management practices. This is typically done by examining and analysing data like project outcomes, customer feed and engagement levels. More comprehensive data means that managers are more insightful when it comes to coaching and recognition of performance wins and improvements to be made.

Advantages of AI in Human Resources

Integrating AI into HR isn’t all about incorporating technology for the sake of it; it’s about ensuring that this technology can significantly improve the business. This means delivering concrete benefits that enhance HR operations. While AI can help in many professions, here are some of the specific benefits we expect to see in the HR field.

Efficiency, Cost and Time Savings

Efficiency in terms of time and cost is one of the key benefits that this technology can bring to HR departments. If you can automate more tasks in your teams, you will have more time to focus on developing the business. The more simple tasks can be delegated, while employees can be tasked with more complex roles. This results in better overall outcomes in all departments.

Making Better Decisions

Artificial intelligence also plays a role in enhancing decision-making processes overall, especially within HR departments. You can pull from a wealth of individual employee information as well as various laws and rules businesses might have to follow. The ability to draw from reliable data means that mistakes are less likely to be made, and everyone’s interests are taken care of, from the employee to any stakeholders.

Dealing with Challenges and Considerations

While AI brings some obvious advantages we need to also look at the obstacle to adopting this technology. It’s vital that we keep this in mind when we begin so we’re prepared to tackle them early on, here are some of the challenges you might face when implementing AI into your business.

Privacy and Ethical Issues

For AI systems to work effectively, they require access to employee information, while safeguarding employee data should already be crucial, it is even more critical with the rise of privacy laws. You will need to ensure that your systems are operating ethically transparently and follow regulations before implementing them into your business.

Biases in AI Algorithms

The fairness of AI systems depends on the quality of the data used to train them and if the historical data has biases then they will persist in the HR process. This might lead to poor decision making and reports, which is why it’s important that we are aware of these biases. You should remain vigilant and mitigate these biases before implementing AI systems.

Employee Adoption and Training

The introduction of AI might raise concerns about job security and fears of AI replacing workers. HR should offer training to all employees and show them how to grasp the technology instead of shying away from it. This technology is better suited to enhance workflow as opposed to replacing workflow, so this is something employers and employees need to keep in mind. Let’s adapt to the future and be one of the first ones to experience the advantage of new technology.

Conclusion

The integration of AI represents a massive shift in workflow and how things are managed on an organisational level. It is not just a passing trend and now that business realise this the advantages and risks also need to be managed before implementation. By recognizing, keeping up with these challenges and staying informed we can utilize AI to establish a workplace that is more productive, fair and engaging. It is now the time that we pave the way with AI and strategize to make the most out of this technology.

The post AI in HR: How is it Reshaping Human Resources Departments? appeared first on Fintech News.

Run Background Checks

A great way to find out if you are hiring trustworthy hard workers is to run a background check. You never know what someone has done in the past and how they may have lied on their resume. With background checks, you don’t just have access to any criminal background, but you will also be able to see their education, addresses, past names, and more. It becomes a lot easier to know who you are dealing with. Furthermore, you can run a bunch at the same time when you are hiring with bulk background checks. This diligence is necessary whenever you are hiring anyone.

Utilize Employee/Employer Match Sites

You should also do your best to utilize the career platforms and job listing sites that match employers with employees. These platforms usually have sophisticated algorithms that do a great job of matching employers in need with the right candidates. You shouldn’t wait for the perfect employee to come through your door, and you shouldn’t use just one career platform site. When you put in the effort to utilize these sites for their benefits, you will have more qualified and hard-working candidates applying to work at your company. It’s important to use all the resources and tools that you have.

Hire Remote Workers

One thing you should be comfortable with is hiring remote workers. Some of the best employees will want to work from home because they know what they are worth and what they can deliver. When you are okay with hiring remote workers, you broaden your horizons. You will have access to great candidates outside of your city. Technology can help smoothen out the process and manage a remote workforce. When it comes to hiring these days, it’s necessary to hire remote workers sometimes. You might want to keep everyone in the office, but it’s just not feasible these days.

Working with recruiting agencies can be incredibly advantageous when hiring remote workers. These agencies have access to a vast network of candidates and use free talent acquisition software to streamline the hiring process. By leveraging this software, agencies can efficiently match your company’s needs with the best candidates available, saving you time and resources.

Recruit Straight from College

A great benefit of modern business is that you often get to hire employees straight from college. A lot of positions at businesses don’t require a huge amount of experience. Not only will the college graduates have updated training, but you will also get to pay them a lot less than you would pay an experienced worker. Furthermore, when you hire college graduates you won’t have to rework their bad training. Instead, you will get them started exactly where you want them to be. Recent college graduates are a great option because they can grow with the company and are usually quite versatile.

Focus on Versatility

Lastly, another thing that will help your hiring process is focusing on versatility of skills. If someone can do more than one job, you should think about hiring them over someone who specializes in one. This is one of the best things you can do for a growing company like a start-up. When you have a worker that can perform one task before moving on to another, you will be able to create a team that can get the job done. You won’t have to hire new employees all the time because you will be training current workers to do new tasks.

When you are trying to improve your hiring process, it’s important to come at it from all angles. Whether you are trying your best to find long-term versatile employees straight from college or need experts that will work remotely, there are plenty of great employees who can help you create the team that you need.

It’s never easy to hire for any company, but it’s a lot harder when you are trying to grow. Large companies hire often and start-ups need to keep the overhead low, but if you put in the effort to find the right candidates you will have the chance to thrive with great hardworking people by your side.

The post Five Methods to Improve the Hiring Process at Your Company appeared first on Fintech News.

Over time, artificial intelligence has played a massive role in marketing, promotions, healthcare, and even banking. So, it’s no surprise that it has also penetrated the educational sector.

Schools need handy tools to make educational activities progress seamlessly. Even grammar-checking services have transitioned into using AI tools to deliver quality papers, so why shouldn’t schools also jump on the opportunity?

Read this article to know the eight top AI tools every school needs and why.

1.   ChatGPT (Chat Generative Pre-trained Transformer)

The pressure in the academic space can be overwhelming sometimes, as there are frequent issues like tight learning schedules, assignments to submit, and tests. Instead of the conventional Google search, students and educators can use the ChatGPT AI to quickly find information without opening too many browser tabs. And students don’t even need to type in pay someone to take my class online and search for the right service, as ChatGPT can help you with any assignment.

Even though ChatGPT is revolutionary, it doesn’t mean you should use the software to do your assignments, as you risk submitting plagiarized copies. As a better alternative, give your work to professional essay writers from specialized academic writing services to provide you with quality papers that are free from plagiarism and conform to the instructions.

2.   Gradescope

Gradescope is an AI tool to help teachers grade their student’s assignments quickly. Not only does this AI help educators with its consistent grading methods, but it also provides thorough comments on the student’s answers.

Instead of trying to keep up with all student assignments, teachers can easily upload their student’s handwritten and typed terms and arrange constructive feedback. It’s also useful for multiple choice questions as it offers proper evaluations while reviewing student work, saving valuable resources like time and energy.

3.   Grammarly

This list of AI tools can only be complete by giving due honor to the Grammarly AI tool. Grammarly is one effective tool that businesses, educators, writers, and everyone interacting with written texts use.

Grammarly allows users easy proofreading to correct spelling, punctuation, and sentence construction errors. You can easily rephrase your sentences while being comprehensible and using a consistent tone in your paper.

In addition, it can help you identify plagiarism in essays while highlighting where to fix the proper in-text citations and corresponding references according to the referencing format. With a feature-packed AI, it’s no wonder the best paper writing services that do my homework for students use Grammarly to check their essays before making final submissions.

4.   Nuance’s Dragon Speech Recognition

Nuance’s Dragon Speech Recognition is another AI tool that every school needs. Instead of taking notes, teachers can easily express themselves and take notes quickly by speaking as they think.

Also, students who have issues with writing can quickly get notes in written format since all they need to do is talk, while the AI recognizes their voices and puts words into texts. In addition, the tool quickly picks up typos and corrects them.

The biggest perk of this AI tool is that after the process, the device can easily read back the texts for you to make corrections and adjustments as needed. All you need to do is give verbal instructions, and the AI tool can help teachers dictate lesson plans and exams while also commenting on assignments and providing feedback on worksheets.

5.   Cognii

Cognii is a virtual learning assistant AI tool for schools that can enable students and educators with quality solutions to the online educational community. With Cognii, everyone in the school environment can access an affordable AI that provides intelligent coaching and a customized and individualized deep-learning approach.

It also helps educators lessen the work of grading and provide in-depth assessment and feedback to students, thereby cutting down on grading time. In return, teachers better understand each student’s educational progress while providing customized lessons to increase their chances of better learning experiences.

6.   Ivy chatbot

For some time now, chatbots have been the ideal pedagogical aids, serving as virtual business representatives to provide customer support. But they are not only for businesses. The Ivy Chat AI is an excellent tool every school must adopt.

Ivy is a virtual AI for students that can help them answer FAQs, supply relevant course materials, drop individual feedback, recommend the best research paper writing services, and evaluate and assess students’ performance. This AI tool even syncs answers and adds them to its database effortlessly.

In addition, Ivy can quickly transfer questions to a professional through its live chat feature if the answer isn’t on its database.

7.   iScanner

iScanner is an AI tool that provides educators and students with different features to scan and edit PDFs. Its simple interface provides users with various features that enable them to take digital pictures of timetables, books, ID cards, and many more.

This AI is one of the best in the industry because its OCR technology allows students to review documents and make alterations without compromising quality. Also, users can easily highlight and annotate a document while studying.

8.   Otter Voice Meeting Notes

Otter Voice Meeting Notes is an AI tool that can help transcribe audio, whether recorded on the app or imported from local storage. The AI also recognizes voice prompts and transcribes them into texts.

One fantastic feature of the AI tool is that you can modify the texts and collaborate if needed. So, instead of typing notes in the classroom, instructors can easily use AI to convert speeches into brilliant texts you can share.

You can take images and have them appear alongside your transcripts while you play back the recording. It has a folder system that allows you to search for audio files. You can sync all changes to various apps like Google Calendar, Dropbox, and Microsoft Calendar & Contacts.

Conclusion

AI has come a long way in this technological era, and schools must learn to use its available tools. ChatGPT, Gradescope, Nuance’s Dragon Speech Recognition, Cognii, Ivy Chatbot, Grammarly, iScanner, and Otter Voice Meeting Notes are just some tools every school needs.

By incorporating all these tools into the school environment, there will be a smooth flow of academic activities that provide all parties with opportunities for better productivity.

The post Phil Collins from EssayService Names 8 AI Tools All Schools Need to Adopt appeared first on Fintech News.

It may not be surprising to hear that the majority of people are spending more time doing their work outside of the office. Whether it’s using a laptop while traveling, working from home on occasion, or participating in a conference call via Skype – we know remote work is becoming more and more common. What may surprise you is just how much this trend is impacting businesses. A study found that in 2016, 50% of the global workforce did some form of remote work. And that number is only going to continue to grow.

That’s why it’s important for businesses to consider implementing various types of tech solutions in order to improve their employees’ productivity. 

Tracking Software

One way businesses can improve their employees’ productivity is by installing workplace software that tracks employee productivity. This can include software that monitors how much time employees are spending on specific tasks, or software that records how many phone calls an employee has made in a day.  This type of software can help businesses identify areas where employees may need improvement and can help managers better manage their teams.

Employees Can Get Their own devices

In addition to using tracking software, businesses can also provide employees with their own devices to work from home. This can include laptops, tablets, or even smartphones.

By giving employees their own devices, businesses can save on the cost of providing a work computer and the employee is able to use the device for personal as well as work.

Technology has also made it easier for businesses to give employees laptops or tablets to work from home. This can be helpful for businesses whose employees are unable to come into the office due to childcare responsibilities, weather conditions, or other obligations.

Remote Meeting Tools

Another way businesses can improve their employees’ productivity is by using remote meeting tools. This can include software like Skype, Zoom, or GoToMeeting. Remote meeting tools allow employees to participate in meetings without having to be in the same room. This can be helpful for businesses who have employees in different locations, or for businesses who have employees who are unable to travel. Additionally, using remote meeting tools can save businesses money on travel costs.

Healthcare Plans

Technology can also be used to help manage and track employee productivity when it comes to healthcare. Employers can use technology to monitor whether employees are staying healthy and meeting their health goals. This can include using fitness trackers or apps that monitor blood pressure or glucose levels. When it comes to choosing the right healthcare plan for your employees, there are a few things you’ll want to keep in mind. The first is that not all healthcare plans are created equal. There are a variety of plans available, and each one has its own set of benefits and drawbacks. These differences can be seen between MMO and PPO plans more clearly. MMOs are less costly but also less flexible than PPOs. You’ll also want to consider your employees’ needs. What type of care do they require? Do they need to see a specialist? These are all questions you’ll want to ask when considering which type of healthcare plan is best for your business.

Monitoring 

Employers can use technology to monitor whether employees are taking sick days and to identify any trends, such as whether there is a flu outbreak. This information can help businesses take the necessary precautions, such as implementing workplace policies for hygiene or providing employees with cold medicine. Additionally, businesses can use this data to help them make decisions about hiring and firing. When it comes to managing employee productivity, businesses often have to make difficult decisions about hiring and firing. There are a few things businesses should consider when making these decisions. The first is that not all employees are created equal. Some employees are more productive than others, and businesses should be mindful of this when making decisions about who to keep on staff. Another thing businesses should consider is the cost of an employee. When deciding whether to fire an employee, businesses should weigh the cost of the employee against the benefits they are receiving from that employee.

When it comes to improving employee productivity, businesses have a number of different options. In addition to using tracking software and providing employees with their own devices, businesses can also use remote meeting tools and healthcare plans. By using technology to help manage and track employee productivity, businesses can improve their overall efficiency and bottom line. Technology makes it easier for businesses to implement various types of solutions that can improve their employees’ productivity. And when it comes to improving productivity, every little bit counts.

The post How can businesses improve their employees’ productivity with tech solutions appeared first on Fintech News.

Replacing the Email Newsletter

Put up a digital sign in places where staff congregate, such as the reception area where they punch in, and the canteen areas. On the screens, you display all the information that you would normally put into an email newsletter. You tell them about upcoming events, about their mandatory days off, about changes to the business and so forth. Instead of trying to force people to read the newsletters, you put the information on the digital signs and you email it to them. That way, people are more likely to talk about the information on the digital signs and there is less chance that people will miss valuable information.

Collaborating on Projects More Easily

Working with different teams can become tricky. As a collaborator, you have to stay on top of what other people are doing and what has been done. People need to stay updated, but it is annoying having to check different screens to see who has done what. Instead, you use digital signs and you display who has done what, who has green lit their finished project and who is still pending. That way, whenever your team looks up, whenever they get up to go to the bathroom, they can visually see who is doing what and the progress that the rest of the team is making.

Demonstrating KPIs to Employees

This was quite common in call centers and is now more common in live-chat centers. They have big boards on the walls that show things like call waiting times, people in the queue and so forth. Companies that are more interested in sales will have big digital signs showing which items need to be sold, and they explain which products, packages or policies to switch to when stocks are running low or high (depending on orders). Things like this happen in all sorts of firms, from indie computer developers to teams that are selling stocks and are told to change their focus when a certain stock is running out, running low, or is failing to produce good profits. 

Scheduling People More Transparently

Putting the rota on a board is not suitable for some companies, but it works very well in companies where small teams have to work together and share staff. Being able to see who is working and when they are working is very important in these situations. Plus, when you use digital signs, you can update the schedules in real time so that people are kept up to date on things like unplanned absences, temporary staff joining and so forth.

Jobs In Logistics

There are some companies that list time-sensitive information on their digital signs so that the various teams involved are kept up to date with what they should be doing at any one time. The best examples of this are with delivery and logistics companies. People get to see on the boards when certain deliveries are completed, when they are en-route, and when their deadlines are. This means that with a swift glance at the board, the team leaders can tell their group when they can take a quick break because perhaps a delivery is late and is not expected for another 20 minutes.

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