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Transitioning to a Remote Workforce? Read This!

Transitioning to a Remote Workforce. How can we manage customers when working remotely, communicate as a team if we can’t be in the same room

Published

3 years ago

December 22, 2020

TwinzTech

Workforce engagement to be more productive

This year was a year of change, as many businesses were forced to switch to a remote workforce. While some were ready for the transition, others were caught off guard.

If you are feeling overwhelmed by new office arrangements, you are not alone. The great news is, it is reasonable to streamline your processes and successfully manage a remote team.

The first step is to identify areas where you are having difficulty. In the following article, we will explore the most common issues companies have when moving to a digital environment, and strategies you can implement to smooth the transition.

Table of Contents

1. Problem: How can we manage customers when working remotely?

Solution: Without customers, you don’t have a business. But how do you manage your customers when your team is working remotely?

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You can use software to optimize your mobile workforce, assign tasks, and track progress. A centralized, cloud-based call centre is key to customer management, regardless of how they communicate. With the cloud, your employees can work from anywhere, with shared data updated in real-time.

For example, your customer relationship management solution should accommodate inbound and outbound calls, SMS, social media, and e-mails. Your operatives will own all the data they need to continue the conversation and close the sale.

2. Problem: How do we communicate as a team if we can’t be in the same room?

Solution: One of the hardest parts of working remotely is not having immediate access to your team members. If you are used to working in the same building, you may be missing that easy communication.

We recommend mixing up your platforms to ensure nothing gets missed. For example, e-mails are suitable for general information and attachments, but inboxes fill quickly, and you may not get an immediate response.

Video chat is ideal for meetings, check-ins, and brainstorming, but workers can experience “Zoom fatigue.” Business chat rooms with private messaging and public channels are for updates and quick Q&As. With the option to mute messages, you can keep your team motivated without persistent distractions.

3. Problem: How do we plan tasks and complete projects without face-to-face contact?

Solution: In the traditional workplace, you may meet with your team members throughout the day to discuss their progress. Your staff may even work collaboratively on projects.

When you switch to a digital workplace, you will probably need to make changes to managing tasks. Look for project management software that gives everyone a clear picture of what needs to be done, by who and when.

When you schedule calendars, split up projects into smaller tasks and allocate the right people, you want to get a clearer idea of how your business progresses. Reporting and graphs can help you set goals and modify them as necessary.

4. Get the right tools for a smooth transition. | Remote Workforce

Transitioning to a remote workforce can be daunting, and there are a few common areas where companies struggle. For example, managing customers, communicating with your team, and collaborating can be difficult without the right tools.

Cloud-based software can be beneficial, including customer management solutions, task management programs, chatrooms and video conferencing. Be supportive of your team as they get used to the new work arrangements, and provide training to ensure they understand their new roles and responsibilities.

You may not have planned a remote workforce, but you can be productive when using innovative thinking and intelligent software.

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

7 days 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.