5 reasons to outsource your company’s payroll services

September 5, 2017

Outsourcing your payroll functions to a payroll services company can pay off in a multitude of ways. To break it down, it comes to five simple S’s: Simplicity, security, service, scalability and savings. Each reason presents convincing evidence on the benefits of outsourcing your services to a knowledgeable and experienced payroll provider.

Simplicity

When you outsource your payroll functions to a cloud-based provider, you gain the simplicity of one system in one place with easy access for all relevant employees. Cloud functionality allows your team to manage everything from payroll to HR and benefits to time in one single location and reduces the time spent working across multiple locations. Plus, it eliminates paper and often saves money when you work online with a cloud system, rather than handling paper forms. The time and resources you can gain from outsourcing to a simpler method are invaluable.

Security

In today’s digital security climate, protecting your most sensitive data from your HCM system is essential. Payroll service companies know how to manage your data securely and use the latest technology to protect you and your company from a data breach. Plus, when you work with an external provider, you gain peace of mind knowing your company’s knowledge capital is protected should an internal employee exit the company for any reason. Additionally, when you work with a single sign-on system, the risk for errors in your information is reduced as employees are not entering the same data in several places.

Service

Your outsourced payroll provider is an expert in what they do and can configure your program to your needs. A great payroll company will have a team dedicated to your account who can handle your specific requests and get you the answers you need in a timely manner. When you are working on your own, it can be difficult to navigate the world of HR law at the state and federal levels, and working with a provider grants you access to a multitude of professionals who can use their collective knowledge to solve your issues.

Learn more: Hiring Staff

Scalability

If your company desires to grow, outsourcing your payroll will be necessary to consider. Cloud-based payroll systems provide the capacity you need to grow without the hassle of continuously changing payroll systems and processes to meet the needs of an expanding operation. Plus, when you take payroll and HR off your plate, you gain valuable time and energy to work on the other areas of the business necessary for the growth you desire. Find your partner early, and get started on a plan that will meet the needs of your changing organization.

Savings

While many may think outsourcing your payroll functions is too costly, it can often be too costly not to consider an external provider. When you break down the investment into a cloud-based system and consider all of the services and functionality you can gain that you didn’t have before, the return on investment becomes clearer. Personalized reports and functionality tailored to you makes it easier for your staff to get their work done and not have to spend time working in a system not meant for your business’s needs. It can also be costly to miss a state or federal HR law update and have to pay fees for non-compliance. With today’s technological advancements, payroll providers can use the cloud to push automatic updates to your account and ensure you are up-to-date with the most current HR laws.

Consider the five S’s if you’ve been on the fence about outsourcing your payroll. The return on investment is substantial, and the peace of mind and time saved is hard to match in the world of business support services.

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This is a guest contribution written by Natalie Hoffman. She is the president of leading payroll services company HK Payroll Services, Inc. (HKP) and partner at Honkamp Krueger & Co., P.C. (HK). With over 30 years of experience in her field, Natalie has written for several publications on the topics of business, accounting and payroll technologies. Connect with Natalie on LinkedIn and Twitter.

 

Is there a minimum wage in New Zealand?

August 28, 2017

If your company has established a firm presence in your home office and is now thinking of opening more offices in the region, at some point you will need to hire employees to staff your new offices abroad. If you come from a country with no minimum wage (e.g. Singapore), remember that the minimum wage is something to keep in mind when you’re expanding abroad.

In New Zealand, the minimum wage rates apply to all employees aged 16 and over, regardless of number of hours worked (i.e. whether the working arrangement is full-time, part time or fixed-term) and salary arrangement (including paid by wages, salary, commission or piece rates, with some exceptions).

Related reading: The Entrepreneur’s Guide to Setting Up a Business in New Zealand

Are the minimum wage rates the same across the board?

In New Zealand, there are three types of minimum wage rates:

  1. Adult minimum wage
  2. Starting-out minimum wage
  3. Training minimum wage

The starting-out minimum wage and training minimum wage are applicable to employees who are being trained for work as part of an approved industry training programme and who fulfil certain criteria, such as a minimum number of hours of industry training per year. These minimum wage rates typically apply to programmes of industry training developed by the Industry Training Organisations (ITOs) which aim to provide vocational training opportunities to young New Zealanders. Unless your organisation is conducting an industry training programme, the adult minimum wage rate will apply to employees of your company.

What is the minimum wage rate in New Zealand? 

The current minimum wage rates (before tax) that apply to employees aged 16 years or over are as follows:

Source: Employment New Zealand

 

The starting-out and training minimum wage rates are typically 80% of the adult minimum wage rate.

The minimum wage rates laid out in the above table took effect from 1 April 2017. As an employer, it is important to note that the minimum wage rates are constantly updated and you should stay up to date on the latest changes to the employment regulations.

 

Who is exempted from the minimum wage rates?

Some groups of employees for whom the minimum wage requirement may not apply include the following:

  • People with disability who hold exemption permits that recognise that their disability limits them from carrying out the requirements of their work;
  • Employees under 16 years of age (but take note that all other minimum standards and employment rights and obligations apply);
  • the Maori Housing Amendment Act 1938, the New Zealand Railways Corporation Act 1981(external link), the Defence Act 1971, the Post Office Act 1959, the State Services Act 1962, or under any other Act;
  • inmates of any charitable institution (who aren’t living there just because they’re employees) who do any work as inmates
  • prisoners working while in custody under the Corrections Act 2004. They may be paid at a rate approved by the Minister of Corrections
  • employees who travel between clients and are covered by the Home and Community Support (Payment for Travel Between Clients) Settlement Act 2016(external link), in relation to their travel only.

 

Must interns be paid the minimum wage rate?

Hiring interns is often a popular way of getting additional resources on board while keeping costs low. Whether or not your intern is subject to the minimum wage rate depends on the characterisation of the relationship between the “intern” and your company.

If the arrangement is an unpaid internship, the “intern” may be regarded as a volunteer. As a volunteer is not an employee, employment law does not apply to them (with the exception of Health and Safety law). In cases of unpaid internships where your interns agree to be volunteers, as an employer you should:

  • make absolutely clear that the position is a volunteer position and that the person does not expect payment or other reward. This should be done in writing;
  • make sure that your intern does not receive any payment;
  • avoid getting an economic benefit from the work done by the intern;
  • avoid having the intern do work which is integral to the business (i.e. work that a full-time employee would ordinarily do);
  • limit the duration of work and the hours worked by the intern.

Understandably, offering your interns some kind of remuneration is beneficial not only for attracting quality individuals to the role but also to properly reward work done. If the arrangement is a paid internship, your intern may be regarded as a fixed-term employee. This means that the employee’s employment is temporary and will end on a specified date or when a particular event occurs (e.g. upon the completion of a project). There has to be genuine reason for taking on the individual as a fixed-term employee.

In such cases, the agreement with your “paid intern” or fixed-term employee should state:

  • when or how the employment agreement will end; and
  • the genuine reason for the fixed term.

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Setting Up a Company in Hong Kong

August 26, 2017

In 2016, we gave you five good reasons to set up your business in Hong Kong. In 2017, this piece of advice still holds true. Hong Kong continues to maintain its edge in international rankings for ease of doing business. It came out on top in the IMD’s World Competitive Scoreboard and the Index of Economic Freedom and was ranked 9th in the world in the Global Competitiveness Index 2016-2017. Government support for startups also remains strong. Last year, the government injected HKD 5 billion into the Innovation and Technology Fund (ITF) and announced a HKD 2 billion Innovation and Technology Venture Fund to encourage private venture funds to invest in startups through a matching process.

If you are currently running a business in Australia and New Zealand and would like to expand into the Asian market, Hong Kong is a good choice given its prime environment for entrepreneurship. Here, we’ll give you the lowdown on how to set up your business in Hong Kong.

Registering your business

In order to start your business in Hong Kong, you will need to register your company with the Companies Registry. The Companies Registry is responsible for processing applications for the incorporation of local limited companies, as well as the registration of non-Hong Kong companies which were incorporated outside Hong Kong and have established a place of business in Hong Kong.

Apply for business name & obtain a certificate of incorporation

The first step would be to choose a company name (which may be in English, Chinese or both). The Guideline on Registration of Company Names for Hong Kong Companies contains information you should keep in mind as you select a company name. Search online at the Cyber Search Centre of the Integrated Companies Registry Information System (ICRIS) to ensure that your proposed company name is not already taken.

Note that your company name will only be confirmed after your application has been processed.

Decide business structure

Before registering your business, think about the advantages and disadvantages of each type of business structure and determine which best suits your purposes. The business structure will affect your tax obligations. If you’re thinking about using the business structure of a company, the following options are available to you:

  • Company limited by shares
  • Company limited by guarantee
  • Unlimited company
  • Branch

Incorporate your company

 In order to file for incorporation, you will need to submit the following documents:

  • An Incorporation Form signed by the founding member(s) – Form NNC1 (for company limited by shares) or Form NNC1G (for company not limited by shares);
  • A copy of the Articles of Association (AA);
  • A Notice to Business Registration Office (IRBR1).

These documents can be submitted with the relevant fees either in hard copy at the Queensway Government Offices or online Companies Registry at the e-Registry portal. 

Upon filing of these documents and successful approval, you will be issued a Certificate of Incorporation (or the Certificate of Registration of Non-Hong Kong Company) and Business Registration Certificate in electronic form for online applications and in hard copy for hard copy applications. Electronic Certificates will typically be issued within one hour after submission of documents while it may take several days for applications submitted in hard copy form.

Want more comprehensive information about how to go about registering your company in Hong Kong? Learn more with our eBook on Incorporation: 

Download your free eBook

 

After incorporation

Once your company is incorporated, the next step would be to get your business up and running.

Open a corporate bank account

Before heading down to a bank to open a corporate bank account, make sure that you prepare the following:-

  • All the documents required by the bank’s application form, including certification by either a certified, public accountant, company secretary, lawyer or banker;
  • Initial minimum deposits (required by most banks in Hong Kong in order to open a bank account);
  • Any other requirements for foreign companies (check with the bank accordingly).

Due to strict due diligence procedures, almost all banks in Hong Kong will require the physical presence of the account signatories, principle directors and shareholders at the time of opening the bank account. However, this requirement may be exempted in some cases and the documents can be signed at one of the bank’s overseas branches in the presence of a witness should a key party not be able to be present.

Apply for the relevant licenses & permits

In order to commence business operations in Hong Kong, you may require particular government licenses, permits, certificates or approvals. To determine which licenses and permits apply to your business, check out the following useful resources:

Determine your tax obligations

If you are a business operating in Hong Kong, you will have to pay taxes on the profits from your business. Your tax obligation varies depending on various factors, including the scope of charge, exemption and deductions to name a few. Check out the Profits Tax section on the GovHK website for more information.

Fulfil your obligations under the MPF system as an employer

As a business employing staff, whether full-time or part-time, you are required to enrol your employees aged 18 to below 65 in a Mandatory Provident Fund (MPF) scheme. You may select from one of the schemes under the MPF system and should consider factors such as the types of constituent funds available and the fees and charges payable under the scheme. For more information, check out the Employers’ Handbook on MPF Obligations by the MPF Schemes Authority (MPFA).

Comply with annual filing requirements

Your company will need to comply with annual filing requirements and deadlines administered by the Companies Registry and the Inland Revenue Department (IRD). This may include the following:

  • An Annual Return filed with the Companies Registry once, every calendar year (except in the year of incorporation);
  • Additional statutory documents in addition to the Annual Returns, as required under the Companies Ordinance (CO). The filing requirements vary depending on whether you are a Local Limited Company or a Registered Non-Hong Kong Company.

Access funds & resources for small businesses

Seek advice on startup issues as well as grants available to you’re your small business. Some resources for picking up information relevant to small businesses include the following:

  • InvestHK which works with foreign entrepreneurs, SMEs and multinationals looking to set up an office or expand their existing business in Hong Kong offers free advice and services to support companies.
  • HKTDC SME Start-up Programme which provides supporting services for the stages in your startup roadmap, including operational management and sales promotion.

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Do’s and don’ts of hiring an outsourcing company

August 16, 2017

Are you thinking about outsourcing? If yes, then you are on the right track since 90% of US companies outsource some aspect of their business (as per a survey by a global association of talent management groups, the Human Capital Institute).

There are many terms used for outsourced resources such as day labourers, freelancers, temps, and contractors.
Some companies are outsourcing most of their business’s functions and more are headed towards that direction, so much so that there were 2.38 million jobs outsourced in the US in 2015.

There can be many reasons behind outsourcing your work but cost reduction is one of the most compelling reasons. While other reasons include gaining access to IT resources that are not easily available internally, ridding internal resources of the excess work burden and accelerating the speed of a project of company reorganisation/transformation. Improving business or customer access, reducing the time for marketing and gaining access to expertise not available internally are some other reasons why a company might feel the need to outsource its work.

The market is a battleground, after all, and as the competition for the most talented resources increases, companies try to attract the best employees through cutting-edge IT services, tools and technology. Sadly though, access to the most advanced resources in-house is often too prohibitively high for small and medium enterprises, hence, outsourcing is the best bet.

However, in a rush to outsource, many companies make a few common mistakes; businesses usually protect their company’s secrets like a lioness protecting its cubs. On the other hand, outsourcing gives out intellectual property, customer information, trade secrets out to outsiders who now have your corporate information and understand business functions.

Don’t think of it as a quick fix

Outsourcing means taking a step towards the evolution of business, not a quick fix to help cut costs. It is a not a short-term strategy with vendors changing like musical chairs for a company. Outsourcing should actually be incorporated as a long term strategy for any business.

No longer considered a temporary fix for a need, outsourcing is being redefined as a permanent part of an organisation, says Katie Ratkiewicz, a practicing leader for the Human Capital Institute. An example is of Danny Wong, the co-founder of the start-up Black-Label.com, a Wellesley, Mass., maker of dress shirts for men.

Keeping the core team small with a total of 8 permanent staff members, he outsourced about 60 hours a week of live chat, emails, and content and programming creation. “It increased our quality of life and the quality of our service,” explained Wong. After his company had to respond to the same customer queries for the hundredth time, they decided to outsource customer service too.

Do think of it as a leaner way to grow

The outsourced resources are doing your tasks, so treat them as an extension of your main office. Think of them as partners, so work hand in glove with them to ensure that their goals are aligned with yours.
Outsourcing is a way to expand the talent pool of your resources and access various skill sets, all the while saving money. Since it is easier to discontinue or scale down outsourcing than to fire employees, outsourcing gives a higher degree of flexibility to your business.

You can adjust scale as per demand for your goods and services as well as attract workers who prefer flexible schedules. You can also stay technologically current at a fraction of a cost as compared to the expenses you would incur if you hired in-houses resources.

Outsourcing is “a new leaner way to start and grow a company with a lot less overhead,” says Fabio Rosati, CEO of Elance, one of the largest freelance job boards that has more than 30,000 new job postings a month. “Suddenly, small businesses are operating like mini multinationals.”

Don’t settle for less

When you buy a TV, do you just walk into a store and point at one or do you comparison shop first? Hiring external workers has a lot more at stake than the quality of HD you are viewing. So, do not be in a hurry to settle for the first provider that approaches you, no matter how juicy the deal they are offering seems to be.
Similarly, don’t appoint someone who views your company as a mere side project. Freelancers can see you as just another pay check or a project. They don’t really care about your company nor do they have the potential for a long-term relationship.

It’s best to research as much as possible when choosing your vendor. This includes concentrating on essential features such as relevant expertise, work profile, experience, their portfolio of customers and cost.
Ask for referrals and follow up on them. Check on forums to see if anyone has reported issues regarding them. Explore independent reviews on the firms you have shortlisted.
Investing time in choosing the right provider now will reduce the number of issues you may potentially face later on.

Do strategise

Strategise when outsourcing by hiring small; it is better to induct off-shore team members incrementally rather than hiring a huge team in a big-bang fashion just because you have the resources to do so.
With so many new people coming in simultaneously, the learning curve becomes steeper. Therefore, it is better to plan it out by starting small; use a small assignment/exercise to move through the curve with a lower degree of risk, rather than jump into the deep end of the pool.

Make a communication strategy to ensure nothing falls through the cracks. Conference calls, chat tools, application sharing tools, email, phone calls, one-on-one meetings and video conferencing are all ways that you can stay in touch with your vendors. Schedule in time to keep tabs on your providers and follow the schedule to ensure that your goals are being met.

Don’t outsource your core staff

Core employees drive and direct your projects and processes. They are the cultural center of your organization.
In 1989, Charles Handy, a management guru, predicted a “shamrock organization”. This kind of organization had the core tasks as one leaf, while the other leaf comprised process areas such as customer service, IT and financial management and the third leaf is projects such as content generation, search engine optimization and graphic designing.

Since outsourcing can affect the morale of your staff, keep the desirable work for your employees. As jobs go outside the company, your employees can become resentful and fearful and develop an “us” and “them” attitude.

When you outsource the relatively undesirable work, make sure your employees understand the difference behind the wage structures for them and the external workers. Differences include lack of job security, benefits and the employer’s share of taxes.

Do outsource infrequently used skills/expertise

Begin by making a list of your business requirements and divide them into the essentials that must be performed by your core staff, such as meeting up with principals, and those that can be outsourced, such as IT.
Try working on a trial basis with vendors, before being tied down in long term contracts. By experimenting with different service providers, you will be able to find the company that best fits your needs.
If you are a small company, don’t outsource the tasks that you or your employees have the required skill set to complete.

However, if you are lacking in expertise and your employees are failing to complete the tasks efficiently, then it’s recommended to locate a reasonably priced, reputable and experienced service provider.
To be satisfied with your contractors, you need to know the kind of person you want. Start your search with people you know such as peers, former employees who left on good terms, current employees or trusted advisors. To expand your search, consider business referrals. For example, if you like the design of a website, you could approach the owner to ask if he would recommend the company who produced it.

You can also use freelance job boards such as Freelancer, Guru and Elance. Web searches, want ads, social networks, cloud sourcing and staffing agencies are all avenues that you can explore that could help you find the vendors you are looking for. For example, if you are in Atlanta and looking to outsource management responsibilities and functions on a proactive basis, you could do a search on “managed services Atlanta” to find a list of possibilities.

All in all, outsourcing is the best way to grow on a budget. In the 1990s, the average portion of work outsourced was 6% but at present, it has grown to 27% and the trend is continuing to increase.

Despite the advantages though, outsourcing has its pitfalls too, the lack of control being one of the biggest ones. However, by doing your homework prior to hiring your vendors and strategising, your company can grow and make the most out of it.

AUTHOR BIO

Audrey Throne is a mother and a professional blogger by choice. She has completed her masters in English literature from the University of Birmingham. As a blogger she wrote quite a few posts on health, technology as well as management. Currently, she is associate with Spectrumit Team.

Find her on Twitter: @audrey_throne

More than the strawberry generation: How you can go about finding the right Millennial for the job

Much has been said about how millennials in the workplace are the strawberry generation that is entitled, inexperienced, and unable to work hard. Given the less than flattering perception of millennials, it is no wonder that some employers shun hiring this group of young workers. But is there really nothing that the millennial generation can bring to the table in your company?

Indeed, there are some advantages that millennials have over Gen X and the baby boomers. As the generation that grew up in the digital age, millennials are early adopters who keep up with the latest tech trends and can recommend tools and technologies that can help make your business more efficient and accessible to the increasingly tech-savvy consumer. While the job-hopping culture among millennials is often criticised, the fact that these young workers constantly striving for better is a trait to leverage on, especially if you land a millennial who is the right fit for your company.

Here, we offer you five top tips for hiring and retaining millennials in your company.

1. Design your company’s roles around what makes millennials tick

It is commonly understood that compared to Gen X and the baby boomers, millennials have different expectations regarding how they want to build their career and interact with their employers. Millennials conceive of their roles as stepping stones and growth opportunities, and thus tend to prioritise opportunities to learn, grow and advance.

 

Source: Harvard Business Review

According to recruiters in Singapore, other key priority areas for millennials are job flexibility, company culture, and having a sense of mission. Millennials are just as driven by the why as they are about the what. In order to motivate, inspire and engage your young employees, it is crucial that you clearly define and articulate your business’ mission, as it is one of the things from which your employees draw a sense of purpose. Given the emphasis placed on finding meaning in work, implementing a corporate social responsibility (CSR) programme can also demonstrate that you care about how your business situates itself within the community, and make your company more attractive to millennials.

2. Allow for flexibility in the workplace

According to a study by PwC which surveyed 44,000 Millennials and non-Millennials in 18 territories globally, employees want more flexible. If they were able to make their current job more flexible, 64% of Millennials would like to occasionally work from home, and 66% of Millennials would like to shift their work hours. Across the board, 15% of male employees and 21% of female employees say they would give up some of their pay and slow the pace of promotion in exchange for working fewer hours.

Millennials measure productivity based on the output of the work performed, rather than the number of hours spent in the office. They view work as a “thing” and not a “place”. Where you choose to put in place flexible working arrangements, ensure that you properly set out your organisation’s approach to flexible working in a Flexible Working Policy. This should be used in conjunction with a Flexible Working Request, which is a form that your employees can use to request flexible working arrangements.

In order to manage your team while accommodating varying work schedules, an option is to leverage tech solutions for managing flexible teams:

    • BoltonRemote helps companies find full-time offshore talent by helping B2B technology and Internet companies turn their business processes into managed, scalable offshore functions and providing a solution that includes proactive staff retention practices, a fully-serviced office and competitive HR benefits.
    • HReasily and Talenox are HR solutions providers that help small businesses improve productivity by streamlining HR work processes (e.g. payroll processing, staff management system, absence management software). This helps you keep your HR practices in order even when managing a flexible workforce with varying work schedules.

3. Provide mentorship, training and opportunities for growth

According to a survey conducted by consulting firm Accenture of more than 1000 students, 80% of 2014 graduates expect to be formally trained by their first employer, while more than half of those who graduated in the past two years report receiving no training in their first position.

Millennials are big on growing and learning, and the environment they are in needs to cater to that. It all starts with putting your new hire through a proper onboarding process, in order to integrate your employee into your company’s work culture and connect him with colleagues he can seek mentorship and advice from.

In order to make your organization an attractive prospect in the long run, it is crucial to foster a culture of mentorship as young people thrive on collaborative work and support from colleagues. This means assigning a more experienced employee to your new hire from the get-go, and having regular check-ins to ensure your employee is on track with his learning objectives. Young employees are also more likely to expect to hear from top management, so it would be good to develop avenues that provide access to your company’s leadership, such as microfeedback platforms to ask questions on specific topics and engage on follow-up feedback. Making communication two-way and real-time will ensure that you constantly keep your young hires engaged.

Here are some quick tips for how you can create a culture of mentorship and opportunities for growth within your organization.

      1. Offer career security. Demonstrate that staying with the company can lead to career enhancement. Share examples of people who’ve progressed through training and on-the-job learning in your organization. Appeal to the Millennial aspiration to be more employable over the long-term.
      2. Focus on career variety & mobility. Create opportunities for Millennials to work on different projects with different teams to build experience and networks across the organization. Satisfy their appetite for new opportunities without them having to go elsewhere. Highlight the value of progression and not just promotion to build a portfolio of skills and experiences.
      3. Have regular career conversations. Check in with Millennials regularly about their career path and development. Rather than annual reviews, focus on near term objectives and implement plans to achieve them. Use these conversations to connect how their work today will enhance their career prospects and longer term employability.
      4. Appreciate your Millennials. Maintain a high-touch approach and offer frequent, face-to-face feedback, and yes, affirmation. Find new channels that encourage recognition and sharing from managers and peers. It doesn’t cost anything and is an effective way to engage people in their roles.

Source: ManpowerGroup

4. Incentivise your new hires with more than just dollars & cents

Given that Millennials are tend to be more motivated by your company culture and work environment rather than salary, building a strong company culture and providing workplace benefits is the way to go in attracting this generation of workers. This is beneficial for small businesses which often do not compete on salary, and the perks and benefits that Millennials want can be inexpensive.

There are five key types of perks that can keep your employees engaged:-

      1. Pampering Perks. This group of perks entices employees through the promise of indulgence. Think weekly ice cream runs, napping rooms and paid gym memberships.
      2. Community Perks. While pampering perks are material, community perks encourage young workers to participate in group activities and helps build community. Ideas include organised volunteer efforts for the team, regular potlucks, and department retreats.
      3. Lifestyle Perks. Learn to accommodate the lifestyle of a young professional seeking work-life balance through policies such as telecommuting, a casual dress code, or a paid day off on birthdays.
      4. Convenience Perks & Special Deals. These are perks that take some day-to-day stress off your employees. This include specially organised discounts at local businesses, personal use of tablets and phones, and providing mobile phone stipends.
      5. Culture Perks. This is the number one reason why a young professional would choose your company. Develop a culture that gives your workers the freedom to take initiative and make things happen, the ability to be part of the decision-making process, and support for entrepreneurial efforts and side projects.

Source: Career Attraction

Evidently, some of these suggestions are more cost-friendly than others. Regardless of which you choose to implement, ensure that you align expectations by putting in place clear policies and guidelines. For instance, a Bring Your Own Device Policy ensures that where you allow your employees to connect to the company network and access company data using their own devices, there are clear rules on permissible and impermissible uses of personal devices on the company network.

Check out our post for more tips on keeping your employees motivated!

5. Tap on job search platforms where Millennials are likely to be

Now that you’ve fostered a company culture and designed a role that appeals to Millennials, the next question is: Where do you find them?

As Millennials are increasingly eschewing traditional job search portals, businesses should be more savvy about where to find Millennials. Here, we round up the top job search portals you can find Millennials on:

Source: HackerTrail

  • Vennjobs is a one-stop career destination for the new generation seeking for more meaning and purpose in their careers. Vennjobs demystifies companies for job seekers by showcasing their culture and people, and provides a platform for job seekers to create a more dynamic profile, which makes for more informed decisions and a better overall fit.
  • HackerTrail provides a platform for companies to find tech people by working with clients to translate their job descriptions into custom, gamified challenges which candidates can participate in. This appeals to the Millennial generation as it gets into their heads and excites them.
  • Hired provides a marketplace that focuses on in-demand tech and sales roles. Users on the Hired platform receive objective guidance throughout the interview process from a dedicated Talent Advocate, as well as the ability to compare new opportunities side by side. Employers get access to a hand-picked pool of candidates who are interested in new roles, as well as unmatched transparency into competing offers so they can recruit and hire with insight.
  • GrabJobs is a jobs marketplace app that offers a rating and review system for each part-timer that completes a job with a designated employer. Job seekers can view available jobs in real time and filter them by type of industry, schedule, salary and location. Upon receiving applications for a job posted on the app, employers are able to filter out non-performing part-timers based on reviews and ratings, along with other filters such as years of experience and visa status. To incentivise part-timers to perform better, GrabJobs offers cash bonuses when part-timers complete five jobs that are rated positively.

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