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Remote Employees Experiencing Burnout: Adequate Tools are the Solution

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Calendar


After almost two years since the onset of the global pandemic, companies and their human resource managers are faced with an even more critical issue — remote employees are overworked and experiencing major burnout.

Ensuring Employee Safety and Job Security With Adequate Tools

The last few years have seen many companies restructure their business practices as an ongoing effort to ensure employee safety and job security. The rapid transition from in-office to online work has not only been one of the critical factors that have pushed some remote workers to the brink of burnout.

In addition, psychological stress and anxiety such as financial security, job performance, and overall well-being have also been decreasing since the pandemic.

High Levels of Exhaustion Among Remote Employees

TinyPulse survey published in 2021 revealed that around 85.65% of remote employees had experienced high levels of exhaustion, 24% higher than employees who work in-office or on a hybrid basis.

Causes of work-related burnout such as lack of control, unclear job expectations, overperformance, dysfunctional workplace dynamics, and lower levels of social support have been found as some of the significant factors that increase employee burnout, according to a study by Mayo Clinic.

Are Your Remote Employees Now Permanent? Do They Know That

Yet, while it looks as if remote working and work-from-anywhere job roles are now becoming more permanent, employers and HR managers are urged to implement new work protocols or programs that can help mitigate burnout.

Collaborate Better Tools for Your Remote Working Team

We’ve looked at some of the best tools, resources, and platforms remote teams can use to collaborate and build better remote working structures and manage their projects.

Donut

With the onboarding of new team members and employees now scattered all over, Donut is a virtual platform that makes it easy for remote employees to bond and communicate ideas. It houses a variety of features, including virtual meetups, daily meetings, mentorship programs, and job-shadowing sessions.

Donut creates a more informal setting for both employees and their employers, allowing better collaboration on projects, and establishing an environment where employees can interact with their remote team members without having to do so over email or Zoom calls.

World Time Buddy

With more online working and companies now having a larger pool of talent to choose from, managing different time zones has become a growing problem for both employers and their teams.

When it comes to cross-time zone collaborations, scheduling meetings, and different workday hours, keeping track of various time zones can impact overall employee productivity. With Time Zone Buddy, employees will have access to time conversion and scheduling features and set up an events page for meetings, and important dates.

The platform can help mitigate cross-time zone communication problems and decrease the need for employees to work unusual hours.

Calendar.com

A lack of organization and effective structure contributes to employee burnout. For example, a Deloitte survey of 1,000 full-time employees found that 21% of those surveyed felt that their company does not have adequate or effective programs in place to mitigate burnout.

With the Calendar.com app, employees will have access to better structure, and organizing capabilities, as the platform looks to integrate both personal and professional life. Better customization allows employees to share available times, booking slots, and works for large teams or individuals.

Additionally, Calendar.com is not just another type of digital calendar but an essential part of every remote team to have better control over their schedules, appointments and ensure productive collaborations.

Corporate Fitness.com

With employees spending more time being stationary at home or commuting to the office less often, evidence supports the notion that physical exercise can affect employees’ well-being and overall mental state.

The psychological impact of exercise gives employees better concentration and focus, helping improve productivity and lessen the effect of procrastination or their demise into burnout.

Before the pandemic, Corporate Fitness.com assisted large-scale companies in improving employee well-being and overall fitness. With a pandemic in full swing, the company now introduced an online platform that can help get employees more involved in physical training and exercise, virtually and from the comfort of their homes.

It might not be something most employees consider essential, but physical activity and exercise can help workers be more focused and connected with their employers.

Yerbo

Yerbo is one of the few platforms designed to help indicate any worrying signs that may lead to employee burnout. For example, in April 2020, research by Gallup found that American employees’ life evaluation decreased to 46.5%, a 15% drop from pre-pandemic levels.

This is where Yerbo makes it easier to help facilitate employers and HR managers to see whether or not employees may be approaching severe levels of job burnout.

By collecting data via 2-minute weekly surveys, the platform helps compile the data into mental well-being results, giving better managers and employers better insight into what may be causing high burnout or what employees consider a risk factor.

Additionally, employers can use the data to track employee evaluation and monitor the improvement process. Through platforms such as Yerbo, employers can better impact their employees’ well-being and help improve mental health during ongoing periods of high uncertainty.

Sanvello

In May 2021, the American Psychiatric Association found that around one in five employees has not been offered assistance or additional mental health services by their employers since the start of the pandemic.

The creators of Sanvello are now looking to help combat the rising levels of anxiety and stress, not just for remote employees but also for those who are currently struggling to cope with sudden changes in the work environment or having to return to the office.

The app is now in use by more than 40 million Americans and has aided in creating pathways that can help improve their mental stability and lower high levels of stress or anxiety.

Sanvello was designed for everyone who needs it, not just overworked and burnt-out employees. It guides you through new strategies and online coping tools that track your process.

Final Thoughts

Employers and HR managers should start to consider different ways in which they can make a meaningful and impact-driven difference in the overall well-being of remote employees.

As the work environment is set to become everso more digital, employers are faced with looking for and implementing viable solutions that can seek to find solutions to mitigate employee burnout.

Creative indicators such as those above are some of the primary ways employees can destress, feel less anxious, and help create a better structure. Remote working shouldn’t decrease life valuation and intervene and tip the scales of work-life balance — it can motivate and capture the importance of working as a team from afar in an ever-growing digital world.

Published First on Calendar. Read Here.

Image Credit: Photo by Nataliya Vaitkevich’ Pexels; Thank you!

Calendar

We are Calendar, trying to make the world a much more productive place. Check us out online at https://www.calendar.com.

Politics

Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Politics

Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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Politics

UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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