Category Archives: Business and Management

Work From Home Jobs During the Lockdown

Due to this Covid – 19 when all the offices are closed and employers have transitioned their employees to remote work, one thing that comes out best during this lockdown is that how remote work or work from home can be successful on a large scale.

Let us see some interesting job opportunities which anyone can start from home :

1. Online Educator

If teaching is your passion and you are away from your passion because schools are closed due to this lockdown then you don’t have to worry as you can simply teach online at your homes.

2. Freelance Writer

Many big sites need freelance writers and content creators so if you have good writing skills then this is surely your job. The best part is that this is the job where you don’t have to go to office. Sit at your homes and provide the best content to your employer.

3. Social Media Manager

Many big business house needs someone to manage their social media accounts like Instagram, Facebook, Twitter so that they can grow their business online and can expand their reach. So if you are a pro at managing social media then this is the right job for you.

4. Call-Center Representative

Many businesses need workers who can answer the phone at all hours, assist customers, and process orders or deal with returns. But since more businesses are operating online, a growing number of these jobs are going to customer service at home.

5. Data Entry operator

A wide range of businesses need workers to enter various data into their systems. For this job one should know basics of computer and should have good typing skills. This is the job that you can perform from home. You just have to enter data online and send it to your employers.

6. YouTuber

If you can entertain and influence large audience on YouTube platform then in some time you can also become a successful YouTuber earning a lot of money.

7. Translator

Translator is someone who converts written word from one language to another. For this job one must have a bachelor’s degree and most importantly must be fluent in the language that the job demands. Many sites nowadays need online translators so if this job fits you, you can surely apply.

This was all about the jobs that you can start from home during this lockdown. So I hope you will find the above article useful.

Human Resource Management

Meaning

Human resource management involves procuring, developing, maintaining and appraising a competent workforce to achieve the goals efficiently and effectively. Staffing is an integral part of human resource management. It is also concerned with procurement, development, compensation, integration and maintenance of managerial employees.

The National Institute Personnel Management (NIPM) of India has defined human resource management as ” the part of management which is concerned with people at work and with their relationship within an enterprise. It’s aim is to bring together and develop into an effective organisation of the men and women who make up an enterprise and having regard for the well – being of the individuals and of working groups, to enable them to make their best contribution to its success. “

Objectives of Human Resource Management

  • To procure right person at the right job.
  • To establish desirable relationship between employer and employees.
  • To mould human resources in the structure of organisation effectively.
  • To develop personality of employee through training and development campaigns.
  • To establish harmony in goals within the organisation
  • To establish employee discipline and moral.

Characteristics of HRM

  • Human focus :It is concerned with the effective management of people possessing energy and capabilities. It is individual oriented. It is specially focused on the human oriented approach. The detailed investigation of human resource in organisation is made.
  • Management Function : It involves managerial functions such as planning, implementing and controlling of acquisition, development, utilization and maintenance of human resources.
  • Pervasive Function : HRM is pervasive in nature as it is present in all enterprises. It is performed in all levels of management. The responsibility of human resource cannot be delegated to other. It is practically implemented in the organisation at various levels.
  • Continuous Commitment : It is continuous function of management. In other words, it is not a one- time process. It will continue till the organisation exists. It is continuously monitored at every step of organisation existence.

Duties performed by Human Resource Personnel

  • Recruitment
  • Collecting information about jobs
  • Developing compensation and incentive plans.
  • Training and development of employees.
  • Handling grievances.

DIRECTING

Directing, in simple words, is instructing the subordinates to follow a certain process to attain a given objective and it is getting the work done through instructions and orders and directing is an important element of management without which success cannot be achieved in the managerial process and it is very essence of management and in fact, it is the sum total of all managerial efforts and it helps in the organization marching towards its defined goal. After planning, determination of objectives, organization, and forecasting, the working force needs briefing about the stated goals which have to be accomplished following the policies, programmes and schedules. Directing is the managerial function of guiding, motivating, leading and supervising the subordinates to accomplish desired objectives. It is an important managerial function that initiates organiser’s action and it is a connecting and activating link with various functions of management and it is a process around which all performance revolves and directing bits of help in mobilising and synthesizing human resources and efforts to accomplish the goals of the organization and directing is the heart of management-in-action and essence of operations. According to Ernest Dale directing is “Directing is telling people what to do and seeing that they do it to the best of their ability and it includes making the assignment, corresponding procedures, seeing that mistakes are corrected, providing on-the-job instructions and of course, issuing orders” and according to another author Newman directing is “ The process of directing is concerned with the way an executive issues instructions to his instructions to his subordinates or otherwise indicates what is to be done”. As a continuous process, directing comprises of:

  1. Issuing orders that are clear, complete, and within the capabilities of subordinates to accomplish.
  2. Training and instructing subordinates to carry out their assignments in the existing situations.
  3. Motivating subordinates to try to meet the expectations of the manager; and
  4. Maintaining discipline and rewarding those who perform properly.

NATURE OF DIRECTING

1. Directing Initiates Actions

Directing is a key managerial function and a manager has to perform this function along with planning, organizing, staffing, and controlling while discharging his duties in the organization and while other functions prepare a setting for action, directing initiates action in the organization.

2. Directing takes place at every level of management

Directing is a pervasive function of management and it exists at every level, location and operates throughout an enterprise and every manager, regardless of the number of subordinates, performs this function and he has to give instructions to the instructions, guide them and motivate them for the achievement of certain goals.

3. Directing is a continuous process

Directing is a dynamic and continuing function and it is the essence of management practice and the techniques and methods of directing have to be changed with t eh changing organizational conditions and a manager are expected to guide his subordinates in all the changing environments. Directing’s objectives are to get the work done and to see that the management works ore responsibly and the manager has to make sure that the problem faced by his mens are solved quickly.

EDUCATION AND TRAINING


Though education and training are parts of the learning process, yet education is wider in its scope than the training and the training is concerned with increasing knowledge and skills in doing a particular job, and the major burden of training fall upon the employer. But education is a broader field of subject and has a lot of connections in its roots and has a lot of scopes and its purpose is to develop individuals in each of their respective fields and it is very concerned with increasing the general knowledge and understanding of the total environment. Education also teaches us to solve any analytical, statistical concepts in a better manner with an in-depth understanding of all the complexity in them.

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THE DIFFERENCE

By, education, we generally mean formal instruction in a school or a college or in a research facility or in a corporate environment, whereas the training is a vocationally oriented before you work on a complex or sophisticated machine or environment and is generally imparted at the work-place. Educational is theoretical, while training is practical and education is the process of developing and understanding of some organized body of knowledge and it is usually formal and aims at the total growth of an individual and it develops mental skills that enable one to use the knowledge acquired effectively in problem-solving situations. Training increases the aptitude, skills, and abilities of employees to perform specific jobs and it leads to the developmental of manual skills for a particular job, whereas education aims at enhancing the general knowledge of a person so that he may accomplish a job in an economical way or can start his own venture or a company to develop his knowledge that gives way for the evidence of his general intellect. As Flippo said in training “Training is the act of increasing the knowledge and skills of an employee for doing a particular job”.

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Actually, the distinction between training and education is not precise because in many cases both training and education occur at the same time in the form of some formal vocational school programmes are job-oriented only, whereas some employee development programmes in the industry are quite wider in scope and they may be viewed as education. The scope of training is narrow as it restricted to a specific job that requires a lot of practical knowledge to complete the given work or the job, whereas the scope of education is wide as it gives information about a specific area instead of a specific job. The objective of the training is to learn the method of accomplishing a specific job successfully whereas education aims at enhancing the general knowledge of a person to enable him/her to accomplish a job in an economical way giving evidence of his general intellect and training is imparted by a business organization, on-job or by setting up a separate training centre whereas the main source of education in schools, colleges and university. The burden of expenses for imparting training is the responsibility of the business organization, hence it alone bears are borne by the employee himself.

Direct tax collected In India

A direct tax is a tax that is paid by an individual or an organization to the imposing entity, or to be precise, Direct Tax is the one which is paid to the Government by taxpayers. These taxpayers include people and organization both. Also, it is directly imposed by the Government and cannot be transferred for payment to some other entity.

With Direct Taxes, especially in a tax bracket system, it can become a disincentive to work hard and earn more money, as more money you earn, the more tax you pay.

Income Tax- It is imposed on an individual who falls under the different tax brackets based on their earning or revenue and they have to file an income tax return every year after which they will either need to pay the tax or be eligible for a tax refund.

Estate Tax– Also known as Inheritance tax, it is raised on an estate or the total value of money and property that an individual has left behind after their death.

Wealth Tax– Wealth tax is imposed on the value of the property that a person possesses.

However, both Estate and Wealth taxes are now abolished.

The Central Board of Direct Taxes in India

The Central Board of Direct Taxes or the CBDT, which was formed as the result of the Central Board of Revenue Act, 1924 looks after the Direct Taxes in India. This department is part of the Department of Revenue in the Ministry of Finance and is responsible for the administration of the direct tax laws. Besides that, the Central Board of Direct Taxes also provides inputs and suggestions for policy and planning of the direct taxes in India.

The latest data of tax collection as per the Central Board of Direct Taxes (CBDT) was released. The data reveals that Maharashtra, Delhi, and Karnataka contribute 61% of the country’s total revenue from direct taxes. Including the contribution of Tamil Nadu and Gujarat will aggregate to 72% of the total revenue.

Direct taxes include income tax paid by individuals and corporate tax paid by firms. It is a general notion that more revenue collection implies higher income. It also implies better employment opportunities and greater ease-of-doing-business. Greater revenue collected states are also those that have greater avenues for economic activities.

It was found that the large and populous states like Uttar Pradesh, Bihar, and West Bengal fare poorly. Bihar, the third most populous state accounts only 0.65% to the total direct tax collection. Uttar Pradesh, the most populous state and West Bengal, the fourth most populous state contributed to 3.12% and 4% of the total tax collection. 

The poor collection of taxes shows the absence of formal sector employment and corporates. It also shows that the working population in these states are not part of the salaried class. If they were a part of the salaried class, the revenue from income tax would have not been so low as compared to the population of these regions

So if we assume the total direct tax collected in India would be 100/-how much would each state contribute

Maharshtra:38/-, Delhi:13.5/- ,Karnataka:10/-

  1. Tamil Nadu : 6.7/-
  2. Gujarat: 4.6/-
  3. Andhra Pradesh :4.3/-
  4. West Bengal:4/-
  5. Uttar Pradesh:3/-
  6. Haryana : 2.4/-
  7. Odisha: 1.2/-
  8. Madhya Pradesh: 1.8/-
  9. Kerala: 1.6/
  10. Rajasthan:24/-
  11. Punjab : 1.1/-
  12. Bihar:0.65/-
  13. Telegana:0.46/-
  14. Jharkhand:0.5/-
  15. Assam : 0.56/-
  16. Goa:0.3/-
  17. Jammu and Kashmir:0.16/ Himachal:0.25/-
  18. Chhattisgarh: 0.25/-  Uttarakhand : 0.3/-Chandigarh : 0.25/- 19.Meghalaya: 0.08/- 20. Tripura:0.03/-

INVESTORS ARE WARMING UP TO A POSSIBLE JOE BIDEN VICTORY

Investors are preparing ahead for expected upcoming market turmoil ahead of the US presidential election in November, with some shifting stock portfolios and selling the dollar, as Democratic party contender Joe Biden maintains a considerable lead in opinion polls against President Donald Trump.

During the four months leading up to the Nov. 3 elections, much will shift, and several analysts are concentrated about how a coronavirus outbreak could threaten a fragile U.S. economic rebound.

Nonetheless, several fund investors are now planning for the prospect of a win for Biden by betting against the currency and slashing their stakes in US stocks.

“The president’s poll numbers have fallen off a cliff,” said Phil Orlando, chief equity market strategist at Federated Hermes. “The market is looking at this and saying, ‘If the election were held today Biden would win.'”

The new survey by Reuters / Ipsos shows Biden leading Trump among eligible voters by 8 percentage points. Trump’s support for treating the coronavirus pandemic has collapsed.

A win for Biden-as well as a potential House and Senate Democratic sweep-may challenge initiatives supported by Trump and widely preferred by Wall Street, including lower corporate tax levels and fewer restrictions, analysts said.

Despite the sharp coronavirus-fueled dip, since Trump took office, the S&P 500 is up about 37 per cent. Under the first term of Presidents Barack Obama and Bill Clinton, the index rose 85 per cent and 79 per cent respectively.

According to Amundi Pioneer Asset Management, under Biden, the corporate tax rate is expected to climb to 28 percent, replacing half of Trump’s and Republican-led Congress reduction in late 2017.

That could rising S&P 500 earnings by around $20 a share, push buyers out of U.S. stocks and damage the dollar, said Paresh Upadhyaya, fund manager at the firm that bets against the greenback.

The fund manager at Laffer Tengler Investments, Arthur Laffer Jr., unwounded his dollar stake last week, predicting that a Biden win could contribute to stronger development and strain on the U.S. currency. Laffer Jr ‘s father has been counseling Trump on economic concerns.

Gross betting in derivative contracts against the U.S. dollar just reached a two year peak.

In a report to clients, analysts at UBS Global Wealth Management said possible new legislation by a Democratic government may be a headwind for oil and financial stocks.

Recently, the BlackRock Investment Institute has cut its ratings on U.S. equities to neutral over concerns of fading fiscal stimulus and uncertainty about elections.

“The two parties are as far apart on policy as they have ever been, making the result consequential for markets,” BlackRock’s analysts said in a note.

Orlando of Federated Hermes has boosted his cash allowance as the cases of coronavirus have risen and the vote numbers of Trump have dropped. He expects to lower shares in dividend-paying securities if Trump’s fall in the polls tends to boost questions about higher dividend taxation and capital gains.

Most investors remain unconvinced that a Biden win or Democratic sweep will bode poorly for stocks, especially because the U.S. economy is supposed to be bolstered by the Federal Reserve if appropriate.

As long as (stimulus) stays constant … you will continue to have some ballast in terms of asset prices,” said Sam Hendel, president at Levin Easterly Partners.

Source:https://www.livemint.com/news/world/investors-are-waking-up-to-a-possible-joe-biden-victory-in-us-presidential-election-11593661949306.html

TRAINING IN MANAGEMENT

Training is the process of helping employees to acquire more knowledge of the job and to learn or sharpen the needed skills, attitudes and values associated with the efficient performance of their job and new employees, as also existing employees, often need training as a means of their progress in their jobs and careers and it is an important element of the staffing function and many organizations make formal or informal arrangements for providing training to their managerial and non-managerial personnel. Training is practical education and it is a technique that brings out the hidden abilities in a person and teaches him to use his skills effectively. Training is an art and the trainer selects the best methods for training, keeping because of the requirements of the job and the ability of the concerned persons. Training is an activity which changes the outlook and behavior of persons and training may be understood as the practice of theoretical knowledge and the importance of training is well-recognized all over the world but the methods of training may vary from job to job and from industry to industry and typically, a separate training department under the charge of an expert in training techniques is established for the purpose. As Dale Yoder said, “Training is the process by which manpower is filled for the particular jobs it is to perform”.

METHODS OD TRAINING

1. On-the-job Method

On-the-jib methods are the methods that are applied, while the employee is working and it means Learning while doing and training is provided by superiors to subordinates and it is economical and less time consuming and it is used where jobs are simple, as in case of plumbers and motor mechanics.

a. Apprenticeship Programme

   Under this method, trainees are apprentices and they work under the direct supervision of the experts, who guide and help them in learning the job.

 b. Internship Training

In this method, professional institutes enter into arrangements with big business enterprises and send their students to these industrial enterprises to gain practical work experience.

c. Job Rotations

It is shifting the trainees from one department to another department or from one job position to another job position.

d. Induction Training

 It is training to help a new employee to settle down quickly into the job by becoming familiar with fellow workers the job and its environment including other people and machines in the business.

2. Off-the-Job Methods

Off-the-road jobs methods are used away from the place of work and it means Learning before doing and it is provided by experts either from within or from outside the organization and it is more expensive and more time consuming than on-the-job and it is used where jobs are complex involving the use of sophisticated machinery.

a. Vestibule training

 Under this method, training is given in a classroom and where the actual work environment is stimulated, a supplicate model of the workshop is prepared and instead of using original equipment, employees are trained on the dummy models.

b. Programming Instruction

The total information amount the job is broken into meaningful small units and are arranged in a logical sequence from simple to complex and the trainee goes through these units one by one by answering questions or by filling the blanks.

GST DAY

Approx most of the day we heard about this Term GST, if we Recharge mobile current postpaid bill is Rs 500, we will have to shell out Rs 590. It is Rs 15 more than what you are currently paying. Food, electricity, gold, land, loans in these services GST is applicable

GST, Goods and Service Tax Act passed in the parliament of India on 27th March 2017 and came into effect on 1st July 2017.

The day was celebrated on 1st July 2018 to mark the first anniversary of the new indirect tax regime.GST is a single indirect tax on the supply of goods and services right from manufacturers to consumers. It’s replaced a number of taxes such As excise duty, service tax, central sales Tax, Value-added Tax(VAT), and Octroi.

Excise duty is an indirect tax that levies on the goods which, are produced within the country. This tax is not related to the Customs Duty. Excise Duty is also known as Central Value Added Tax. value-added Tax is collected by the state government. For example, if we purchase a good then we must pay an additional tax as Value Added Tax to the government. The VAT rate is decided based on the nature of the item and state.Custom duty and OctoroiThis tax is levied on those goods that are imported into India from outside. The Custom Duty tax is paid at the port of entry in the country as the airport. This tax rate also varies over the nature of goods. While the Octroi tax is charged on the goods entering the municipality.

GST was First coneceptual by Former Indian Prime Minister Atal Bihari Vajpayee,1999.

In an official message on the occasion of GST Day, Finance Minister Nirmala Sitharaman on Wednesday said that more efforts are required to ease tax compliance further for the taxpayers, especially the micro, small and medium enterprises (MSMEs). Wednesday marked the third anniversary of the launch of the Goods and Services Tax (GST) regime.In message, Ms Sitharaman herhighlighted the steps taken towards easing the return filing process, including the recently introduced feature of SMS-based filing for nil return

SELECTION

Selection is the process of choosing the most suitable candidates from applicants for the various jobs and it follows the recruitment and much information has to be obtained, from the prospective candidates to facilitate the selection process and it is then analyzed and evaluated and the information relates to the qualifications, work experience, age, levels of skills and other accomplishments, family background, aptitudes and interests, physical and mental fitness and so on. The enterprise has to choose the best and the most promising persons from among the applicants and in this sense, it may be said that while recruitment is a positive function, in that it seeks to induce as many persons as possible to apply for a job in the enterprise, the selection is a negative function because it aims at eliminating or weeding out those applicants who are not found suitable in one respect or the other. Thus, the selection is the process of securing relevant information about an applicant to evaluate his qualifications, experience, and other qualities to match these with the requirements of a job, and it essentially a process of picking out the man or men best suited for the organization’s requirements. According to Dale Yoder “Selection is the process in which candidates for employment, are divided into two classes-those who are to be offered employment and those who are not”.

SIGNIFICANCE OF SELECTION

Hiring of employees is an important function of the personnel department and this function must be performed careful because errors committed at the time of selection may prove to very costly and of selection process is faulty, absenteeism will be too high and the rate of labour turnover will also be higher and whenever unsuitable candidates are hired, the efficiency of the organization will go down and such persons will shrink work and will be absent themselves from the work more often and in many cases unsuitable employees have to leave their jobs and this will lead to waste of time, energy and money in hiring such employees and the training cost incurred on them will also go waste and proper selection and placement of personnel go a long way towards building up a suitable workforce and it will keep the rates of absenteeism and labour turnover low and will increase the morale of the employees and if the employees are quite suitable according to the requirements of the jobs, they will show higher efficiency and will enable the organization to achieve its objectives effectively. Recruitment and selection are two separate functions that usually go together and recruitment aims at stimulating and attracting job applications for positions in the organization, while selection consists of choosing among the applicants, to choose those, most suited to the job requirements, keeping in view the job analysis information. Recruitment is simple and candidates are not required to cross several hurdles whereas the selection process is complex and consists of many hurdles created by the management internally and Recruitment initiates the procurement aspect of personnel management whereas the selection completes the procurement aspect of personnel management.

Indian it firms plan to move to Mexico & Canada due to h-1b visa restrictions

Indian and U.S. technology firms advise the Trump administration to reverse an executive order restricting access to certain job visas, saying the change would disrupt a market model used to bring high-skill expertise to Wall Street and Silicon Valley clients.

Last week’s order from Donald Trump inhibits approvals of a range of visas all through to the year-end, including those for intra-company transfers and study-outside programs, and aims to give American preference after recording job losses from the coronavirus pandemic. H-1B visas used by Indian workers and other countries to occupy key roles are vital to the tech industry.

Visa delivery is an complex, month-long undertaking and some interruption could affect vital employees’ ability to fly to consumer locations for an prolonged period of time. The virus lockdowns have now delayed vital consulate access to the network and pushed hundreds of thousands of employees into demanding work-from – home conditions.

India’s technology trade group, Nasscom, called Trump’s order “misguided and harmful to the U.S. economy” and warned it would exacerbate the country’s economic pain. 

Indian companies provide technology staff and services to U.S. hospitals, drugmakers and biotechnology companies, Nasscom pointed out. In addition, the industry may send more workers to Canada or Mexico without access to the U.S. market.

“These are highly-skilled workers who are in great demand and they will be mobile no matter what,” said Shivendra Singh, president of global trade development at Nasscom.

Among the other critics of the order were Alphabet Inc. Chief Executive Officer Sundar Pichai, Microsoft Corp. President Brad Smith and Tesla Inc. founder Elon Musk. Pichai, himself a beneficiary of the H-1B visa system in the 1990s, tweeted, “Immigration has contributed immensely to America’s economic success making it a global leader in tech, and also Google the company it is today.” Tata Consultancy Services Ltd., Infosys Ltd. and Wipro Ltd., among the largest outsourcing companies in Asia, declined to comment.

According to immigration numbers, India accounts for around 70 per cent of the 85,000 H-1B visas granted annually. Of this number, 65,000 visas are given to international professionals with bachelor’s degrees, while the remaining 20,000 will be assigned to employees with more advanced degrees. The visa program was developed to allow businesses to recruit foreign staff to address a lack of highly qualified technical services and product creation expertise. The reality that every year Indian outsourcers receive a large amount of the visas has rendered the scheme problematic, with opponents alleging that businesses misuse the system by replacing American employees with cheaper foreign labour.

Shortly after assuming office, Trump promised to clamp down on work visas and overhaul the “broken” immigration framework. A long-term issue for outsourcers is the proposed redesign of the existing H-1B visa scheme by the government, which will substitute the established allocation mechanism to decide who accepts visas with a merit-based method that prioritizes wage-based applicants.

Now, outsourcing firms are grappling with the unpredictability of the visa situation and the possibility of an H-1B revamp being able to make it impossible to take all but the most important of talent outside the world.

Source:https://www.livemint.com/industry/infotech/indian-it-firms-may-set-up-new-outposts-in-canada-mexico-amid-h-1b-visa-curbs-11593495677657.html