Against the backdrop of an increasingly uncertain global economy, one area of consistent investment has been digital transformation. Within manufacturing, that means the ongoing evolution towards Industry 4.0.
The COVID-19 pandemic has had a major impact on almost all economic sectors, and insurance is no exception. The pandemic has resulted in a ‘new normal’ and the digital world has never been more important than it is today - whether it is to purchase groceries and essential supplies or to socialize and virtually catch up with friends and family. Consumers are buying everything online, including insurance. Many of the changes adopted during this exceptional time will remain with us long after the situation has normalized.
The recent coronavirus outbreak and its impact might lead the global economy into a recession if the uncertainty continues beyond the second quarter of 2020. With the escalation of new cases in various countries in the Middle East and numbers touching almost one million patients worldwide, the world economy is under a lot of pressure, leading to the loss of jobs. It has prompted governments to work on providing economic packages to help business owners to sustain through this ordeal.
As working from home rapidly becomes the new normal across the globe, many are struggling to adapt to this alternative work style and find the right balance. Online education experts, Crimson Education, have stepped in to assist, sharing key advice for those finding it hard to manage work and life amid the coronavirus outbreak.
Payroll management sounds simple in theory. However, it’s surprisingly easy for a growing business to make payroll-related mistakes, especially if it doesn’t have robust processes and systems in place. In some cases, an error can have serious consequences for a business, ranging from damaging employee morale to losses from fraud.
The world of work as we know it has changed. With new technology making it easier to work anywhere, anytime, the traditional 9 to 5 workday is now effectively dead. Flexibility in their work schedules is a key priority for today’s employees, helping them successfully juggle work and personal responsibilities. In fact, according to a poll conducted by Sage People, more than 80 per cent of 3,500 employees globally placed importance and value on flexible and remote working.