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3 Ways to Create a Successful Hybrid Work Model

A hybrid work model gives the best of both worlds. Here much-needed remote work flexibility is combined with in-person collaboration and social interaction that the work-from-home model lacks.

Published

3 years ago

October 5, 2021

TwinzTech

How To Recruit The Right People For Your Company

Let’s face the facts, and Covid-19 pandemic restrictions have caused a significant shift in the perception of the workplace. Millions of people who began working from home almost two years ago recognized numerous benefits of this work model.

Now that the serious health threat is under control, numerous Twitter and LinkedIn “surveys” have shown that most work-from-home employees want to continue working entirely remotely or take the best of both worlds and embrace the hybrid model. This means that they’d like to have the option to choose when they would work from home and when they’d prefer to go to the office.

If you’re one of the numerous business owners who need to adapt to these changes and meet your employees’ needs, keep reading. We’ll offer you some practical ways to create a highly productive hybrid work environment that will make your employees happy and do wonders for your business.

Table of Contents

1. Make Sure to Offer Options

One of the lessons learned during the pandemic is that every employee likes to have options. Some people function better when working remotely because they cherish the flexibility and a sense of autonomy this work model offers.

On the other hand, others prefer going to the office because they miss in-person communication and social interaction when working from home. So, make sure to offer either fully remote or fully office work while transitioning towards the hybrid model and provide this choice for every employee.

Furthermore, try to create a weekly “work from office” schedule so your employees can choose when to work from the office, making sure to mark the days dedicated to meetings or in-person collaboration.

2. Cultivate “People First” Company Culture

Another important lesson we all have drawn from the pandemic is that every business should foster people-oriented culture. Once this harmful virus has threatened employees’ health and even lives, numerous business owners realized that meeting the employees’ needs has to be a number one priority.

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Therefore, you need to offer flexibility in your hybrid workplace to keep your workers happy and highly productive. Don’t impose strict rules and schedules; they need to stick to just because you used to do similar things before. This doesn’t mean you should abandon planning altogether. You need to set clear expectations to get things done. However, do not try to go back to the pre-Covid schedule because things have changed, and the office pleasure never is the same again.

Another key ingredient in creating a people-focused company culture is empathy. Employees tend to be motivated to do their best when they feel appreciated. Also, be prepared to listen to their suggestions and ideas, encouraging them to talk about issues that may bother them. By knowing that they can express their thoughts and feelings freely, employees will build mutual trust and commit easily to common goals.

3. Provide Seamless Communication and Improved Project Management

Moving business online during the Covid pandemic demanded significant support from various digital solutions. Keeping communication clear and employees’ high productivity were two primary concerns of numerous managers. For this reason, they started using Google Office, Slack, and similar advanced platforms to exchange emails, direct messages, or host video meetings.

These practical tools that ensured clear asynchronous communication between management become indispensable in hybrid workplaces.

But if you want to build a successful hybrid model, you’ll also need to keep track of your time and project management. Effective monitoring software for employees will give you a real-time insight into employees’ activities, tracking time spent on various current tasks and projects. This information will provide you with the chance to distribute workload accordingly, helping employees become more productive.

You will also use a productivity tracker to make predictions about upcoming projects, setting reasonable deadlines and timeframes. This will save you time and money, making your clients happy and employees motivated to reach set goals.

4. Final Words

A hybrid work model gives the best of both worlds. Here much-needed remote work flexibility is combined with in-person collaboration and social interaction that the work-from-home model lacks.

Try following these tips to create a successful hybrid model using effective tools to make communication easier and boost team performance. But make sure to create a work environment where your employees will feel appreciated and motivated to fulfill their potential.

Business

Navigating the Process of Selling Deceased Estate Shares

This article aims to provide a comprehensive guide to selling shares from a deceased estate. Process of Selling Deceased Estate Shares.

Published

3 months ago

May 9, 2024

TwinzTech

Navigating the Process of Selling Deceased Estate Shares

Table of Contents

1. Understanding the Basics of Selling Deceased Estate Shares

Dealing with a deceased estate can be a challenging and emotional process, especially when it comes to handling financial assets like shares. This article aims to provide a comprehensive guide to selling shares from a deceased estate.

2. What are Deceased Estate Shares?

Deceased estate shares refer to the stocks and shares that were owned by an individual who has passed away. These shares become part of the deceased’s estate and are subject to the terms of their will or estate plan.

3. The Importance of Valuing the Shares

The first step in selling deceased estate shares is to obtain a current valuation. This valuation is crucial for several reasons: it helps in distributing the estate among beneficiaries, it may be necessary for tax purposes, and it gives an idea of the market value of the shares.

4. Legal Requirements and Executor Responsibilities

The executor of the estate plays a pivotal role in the management and distribution of the deceased’s assets. This section will cover the legal responsibilities and steps the executor needs to take to lawfully sell the shares.

5. Obtaining Probate

Before any action can be taken with the shares, it’s often necessary to obtain probate. Probate is a legal process that confirms the executor’s authority to deal with the deceased’s assets.

Transferring Shares into the Executor’s Name

Once probate is granted, shares may need to be transferred into the name of the executor. This process varies depending on the company and the type of shares.

6. The Process of Selling Shares

After completing legal formalities, the executor can proceed with selling the shares. This section will outline the steps involved in this process, including choosing a brokerage or financial service, understanding market conditions, and making informed decisions.

Deciding on the Right Time to Sell

Timing can significantly impact the returns from selling shares. Executors need to consider market conditions and financial advice to determine the best time to sell.

Completing the Sale

This subsection will detail the actual process of selling shares, including placing orders, handling transaction fees, and ensuring all regulatory requirements are met.

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7. Navigating Tax Implications and Reporting

Managing tax obligations is a critical aspect of selling deceased estate shares. This section will explain the potential tax implications and the importance of accurate reporting for both capital gains tax and inheritance tax considerations.

Understanding Capital Gains Tax Responsibilities

When shares are sold, any profit made from the time of the deceased’s passing to the sale date may be subject to capital gains tax. Executors need to be aware of these implications and plan accordingly.

Inheritance Tax Considerations

In some jurisdictions, the value of the deceased estate’s shares might impact inheritance tax calculations. It’s essential for executors to understand these aspects in order to ensure compliance with tax laws.

8. Common Challenges and How to Overcome Them

Selling deceased estate shares can present unique challenges. This section will discuss common issues such as disputed wills, fragmented information about the shares, and market volatility.

Dealing with Disputed Wills and Beneficiary Disagreements

Disputes over the will or disagreements among beneficiaries can complicate the process. Executors must handle these situations delicately and legally.

Managing Market Volatility

Shares can be subject to market fluctuations. Executors should be prepared for this volatility and may need to consult financial advisors to navigate these waters effectively.

9. Tips for Executors Handling Deceased Estate Shares

This section will provide practical advice for executors, including the importance of seeking professional advice, keeping thorough records, and communicating clearly with beneficiaries.

Seeking Professional Financial and Legal Advice

The complexity of selling shares from a deceased estate often necessitates professional advice. This can range from legal counsel to financial advisory services.

Record Keeping and Communication with Beneficiaries

Maintaining transparent and thorough records is crucial. Executors should also prioritize clear and consistent communication with all beneficiaries to avoid misunderstandings.

Conclusion

Selling shares from a deceased estate is a responsibility that requires careful attention to legal, financial, and interpersonal dynamics. By understanding the process, staying informed about tax obligations, and tackling challenges head-on, executors can fulfill their duties effectively and respectfully.