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What Tech Talent Wants in a Benefits Package – ReadWrite

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Deanna Ritchie


Never before has it been so difficult to accrue top tech talent. Even during the pandemic, the best programmers, designers, and project managers are all in greater demand than ever before. It’s a given that a business needs to offer generous salaries if it wants to hire a great team of techies, but where exactly do benefits fit into the equation?

The simple logic here would dictate that larger benefits packages mean more top prospects, but the connection isn’t necessarily so direct. The best workers don’t want a whole smorgasbord of benefits — they just want what they need. Particularly during the newfound era of remote work, ping pong tables and massage rooms aren’t going to cut it anymore.

The Benefits Package Tech Talent Wants

If you want to boost your hiring power, you’re going to need top-of-the-line benefits.

1. Benefits Usability

So, let’s say you’re enrolling all of your employees in excellent health insurance plans — that’s great, but are they going to know what perks they offer and how to use them? Benefits are only worthwhile if your employees can actually take advantage of them. Simply put, you need a system in place that effectively administrates all of the benefits you offer your workers.

One of the best examples of this kind of system is Benebee, an application that is a part of Hamilton Insurance Agency’s benefits administration platform. Benebee consolidates and streamlines all health insurance-related documents into one application on their phone, eliminating headaches.

Jason Zuccari, vice president of business development for Hamilton Insurance Agency, recommends to “take a similar approach to all of your benefits: make sure that they’re as usable as they are valuable.”

2. Working Flexibility

For companies new to the remote work game, promising remote work flexibility to a new employee can seem risky to offer in a benefits package. The truth is that remote work and working flexibility are very much here to stay. Employers need to adapt in order to secure the top talent looking for remote options.

Your remote working setup doesn’t need to just be a relic of the COVID era: workflow software company Zapier has been a fully remote company for nearly a decade now. Ultimately, there will always be some very talented workers unwilling to relocate or wary of going into the office. Accommodate them — the results will be worth it.

3. Company Equity

How do you make a worker feel like they’re truly a part of your business? Company mission? Team-building exercises? After-hours drinks? None of these answers are wrong, but none of the answers go quite as far as company equity does. Equity turns an employee into a partner, drawing them into company operations in ways they simply would not have had access to otherwise.

Use equity as a final selling point for your top job candidates in their benefits package. Company equity is a great way to differentiate your business from some of the larger operations that may offer heftier salaries but can’t compete with your whole package.

Once an applicant knows that they’ll get to be invested in your business as they work for you — they’ll be far more likely to bound over the finish line into your office. Employees who hold company equity are more likely to stay with the company that they are invested in, providing less turnover.

4. Meaningful Development Opportunities

Top talent only reached that distinction because of their passion for learning and growth. If your business offers further opportunities to pursue personal and professional development, you’re more likely to attract the kinds of candidates interested in growth.

One of the best models for professional development, in terms of what companies can do for tech workers, is Schneider Electric University. The company is a compendium of courses and certifications run by Schneider Electric at no cost to their employees. Interested workers can learn new skills, hone existing ones, and grow in manifold ways through programs like this one.

Companies that don’t offer personal and professional opportunities for its employees are at a severe disadvantage in the hiring process compared to those that do.

Just because nabbing top tech talent is difficult doesn’t mean you should stop trying. By improving and refining your benefits package, you can run with the fastest of them — and recruit the best of them too.

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.

Politics

RUSSIA’S DEFAULT IS A REALITY AS GRACE MONTH IS OVER

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ValueWalk


Russia’s default has finally arrived on its sovereign debt in foreign currency for the first time in more than a century. Moscow has been unable to pay the interest on two bonds in dollars despite having enough foreign exchange reserves to do so. Investors assure that they have not received payment after the grace month.

Russia’s Default

Russia is showing the consequences of the sanctions the West has massively imposed on it after the war against Ukraine.

 

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For months, the country has managed to find ways and shortcuts to wade through the measures that tried to isolate the government of Vladimir Putin and make the country fall into technical default. In the end, the West has achieved its goal, albeit somewhat later than expected.

Although Russia had the capacity to meet this payment, leading economic indicators —the composite PMI sank in March and remain below 50, indicating that the economy is contracting— reveal that the country is facing one of the major economic crises of recent decades.

With double-digit inflation and several leading companies on the way out, Russia will face a deep recession and perhaps years of economic stagnation.

The one-month grace period expired on Sunday on around $100 million of trapped interest payments due May 27, a deadline that is considered an event of default if not paid in the correct currency, according to Bloomberg.

Data

Russia’s default is also backed by other data. The International Monetary Fund (IMF) reveals that the Russian Government had a debt of around $40 billion in hard currency at the end of 2021 —a relatively small amount.

Although the total foreign debt exceeds $470 billion, only part of that amount is in foreign currency and a smaller part is still a liability to the Russian Government.

This is a clear symptom of the rapid transformation that the country is facing, both financially and economically. Russia will have to go on without the foreign capital flows that have historically helped finance investments in emerging countries.

The nation’s Eurobonds have been trading on the secondary market at very low levels since early March, while the central bank’s foreign exchange reserves remain frozen. Russia’s largest banks are cut off from the global financial system, leaving the country in isolation.

Published First on ValueWalk. Read Here.

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Take Inspiration From Trending and Successful eCommerce Businesses

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Take Inspiration From Trending and Successful eCommerce Businesses


Believe it or not, online shopping has become a massive trend nowadays, and its popularity is increasing daily. Of course, we were already in the era of digitalization, but this entire pandemic situation has made eCommerce industries flourish more than expected in the last few years.

Nowadays, everything is digitized as people buy food, groceries, cosmetics, clothes, and even electronic gadgets online. This digital revolution has made it easier for creative founders to convert their dreams and ideas into a waking reality.

Old ways and patterns of handling businesses are changing every day, and business owners need to adapt to the fluctuating market trends. And in this, some trending eCommerce businesses have taken this eCommerce industry to a whole new level. They are ruling and conquering like a boss.

Here in this blog, we will be discussing such inspiring eCommerce businesses. So, keep reading to find out more and cope for the better.

What are The Types of eCommerce Businesses?

E-commerce businesses are not limited to one particular business model. Instead, there are various sorts of eCommerce business models as per their business offerings. So have a look at some of the highly prevalent eCommerce models.

  • Business to Consumer (B2C): The process of selling from business to customer comes under B2C type E-commerce.
  • Business to Business (B2B): The buying and selling process between businesses comes under the B2B type of E-commerce.
  • Direct to Consumer(D2C): This new idea of selling directly to end customers without the involvement of any retailer comes under D2C type E-commerce.
  • Consumer to Consumer (C2C): Consumer-to-consumer sales on platforms like eBay, Etsy, Fiver, and many more come under C2C type E-commerce.
  • Consumer to Business (C2B): An individual selling their services to different businesses comes C2B type E-commerce.

Examples of Successful E-commerce Businesses

1. Warby Parker

Warby Parker is popularly known for producing designer, reliable and inexpensive frames for eyeglasses. An MBA student, Neil Blumenthal, and 3 of his friends launched this eCommerce company in 2010. They proposed the idea in 2008, and took nearly two years to implement.

Their idea of business was something very essential at that period because Luxottica (Another eyewear brand) was one of the few companies that used to sell designer and reliable frames, but they were costly as compared to Warby Parker.

Warby has a free try-on policy with free shipping and numerous return offers, and this is what the brand has adopted to stand out from the crowd and appeal to its customers.

2. Leesa

An online Mattress retailer is helping people sleep better and comforting their sleep cycle. The whole idea behind this business model was to help people realize the importance of sleep and how an adequate amount of sleep can increase their productivity and quality of life.

Their first-ever mattress was “Universal Adaptive feel.” It was so flexible that it could easily adjust to all body types.

The 100-night free trial policy worked well for their customers and made the business model a huge success. Leesa had traditional showrooms at first, but with time they also opened online stores.

3. Modcloth

ModCloth is an eCommerce company launched in 2002, selling women’s clothing worldwide. They sell fun and quirky clothes that are not so exclusive but are comfortable and budget-friendly.

Everything about their store is creative and exciting – which customers nowadays love. The copies describing their clothes are also fun to read because every product has a name and story behind it – now, this is something very catchy.

ModCloth became a brand within a few years of its launch because of its targeted marketing strategy. They know who their target audience is and what requirements they have. Knowing this has made their business reach exceptional heights within a short period of time.

4. Amazon

Mostly we know Amazon was launched in 1995 as an online bookstore and has been flourishing since then. Now amazon is not limited to books anymore because now it sells almost everything you can think of. From groceries to clothes and even jewelry, Amazon has it all.

Right now, Amazon is one of the largest eCommerce stores by revenue worldwide. Though amazon started with no competitors, now it has Walmart as one of its biggest competitors. Last year Amazon made a revenue of $470 billion.

Amazon has adopted a stellar marketing strategy, which is targeting the right customer and offering products at comparatively lower rates.

5. Shopify

Shopify is a SaaS (Software-as-a-service) company that provides all the tools needed by a business to run its eCommerce business smoothly. It helps them with website building, marketing, payment processing, financial tracking, and everything in between.

It is a tech infrastructure that supports more than 2 million merchants and various operations ranging from mom-and-pop businesses to global brands. Shopify made $389 million in revenue in 2016 to $4.6 billion in revenue in 2021.

The profitability of Spotify has been improving with time because, just like every SaaS business, it has also scaled up.

6. LARQ

LARQ is a business model that makes self-cleaning water bottles that are reusable, rechargeable, and also have some advanced features. For example, it has UVC technology used to eliminate viruses & bacteria from water bottles.

LARQ has the initiative to provide clean water to everyone. They also raised $1.7 million for the same. In addition, LARQ donates 1% of its earnings to help maintain clean water worldwide.

The product was so unique and exciting that it attracted numerous customers. As a result, many environmentalists and aware citizens switched to these LARQ bottles and saved their money from buying single-use water bottles.

7. Beer Cartel

Beer Cartel, as the name suggests, is Australia’s number one beer subscription service. It is said that some ideas sell themselves; the same was the case with this one.

Beer Cartel sells beers from all around the world to their subscribers at their doorstep. This online store gives people the freedom to select their unique beer bottles at a price better than traditional stores.

One of the significant reasons for Beer Cartel’s success is that they offer exclusive taste under budget. In addition, they have a wide range of varieties that keeps their customers interested and coming back.

8. Berlin Packaging

Berlin Packaging is well known for sourcing, designing, and even distributing containers and closures for companies like fortune and various family-owned startups.

They have always provided products at a lower cost to their customers to increase the overall efficiency of their enterprise. One interesting fact about it is that it is not a new startup; it is 80 years old, in fact. But Berlin Packaging has somehow still managed to bring their customers the latest and top-quality beer.

They started this eCommerce business model to keep up with the times, which worked out well for them.

9. Bonobos

With the introduction of eBay, Bonobos knew that the eCommerce business was getting more competitive with each passing day. So, they introduced a unique business model targeting only a super-specific audience.

This strategy of narrowing down to a particular audience helped them make loyal customers who also flourished their business in the long run. Bonobo’s success made everyone realize that focusing on the competition is not good for your business’s health.

They should focus on the value they provide to their customers, and they will reach greater heights of success.

10. TOMS

The name of the company seems fascinating, right? Well, so is their initiative. TOMS is an eCommerce company that sells its customers quality shoes that are reliable, comfortable, designer, and inexpensive.

What separates TOMS from other similar eCommerce is that with every transaction, they will help one in need. Yes! Not only this, but they also run various social media campaigns with hashtags like #withoutshoes and many more to stand out from the crowd.

Everything about their business model is catchy and interesting, making it easier for them to drive more traffic to their online shop.

What are the Biggest Benefits of eCommerce?

Shopping in the comfort of home: eCommerce has made shopping easier and more convenient for our customers. Buying and selling things is a child’s play nowadays. As a result, our purchases are simpler, faster, less time-consuming, and not so hectic.

Markets are globalized: Now, you can shop from anywhere around the world at the convenience of your home. The impact of eCommerce on the planet can easily be visible. There are no limitations or barriers to buying from a different state or country.

Building startups is not so expensive anymore! Yes, in this era of digitalization, anyone can set up their online store at a meager cost. In addition, the operating cost is minimal because both buyers and sellers are now digital.

Conclusion

Technologies are evolving rapidly because of this, eCommerce businesses have to see a lot of changes frequently.

If you have an eCommerce business that is not growing as expected, you must adapt to new business models that add value to your customer’s life and your e-commerce services (my business: krishaweb dot com).

Image Credit: Provided by the Author; Thank you!

Parth Pandya

“Nothing Is Impossible” – is a quote that guided me to climb up the toughest peak of my professional journey. Having a great zeal for excellence and ambitious nature to reach the peak, leads me uninterrupted to provide the best content to all the visitors. I like to read and share contents which are related to Technology Solution and Digital Marketing.

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What Does the G7 Russian Gold Ban Mean for Gold Stocks?

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Gold Ban Mean for Stocks?


The G7 plans to announce a ban on Russian gold imports. But does that really matter for investors? While there hadn’t been an official Russian gold ban until now, this news isn’t exactly a surprise to the industry. Today, we’re seeing that lack of reaction in gold prices.

Typically, a ban on imports for a particular commodity sends prices soaring higher. Just look at what happened to oil after Russia invaded Ukraine. As it pertains to gold, prices also initially ticked higher this morning, with the futures opening up by under 1%.

However, it has now turned lower on the day, as have the VanEck Gold Miners ETF (NYSEARCA:GDX) and the VanEck Gold Miners ETF (NYSEARCA:GDXJ).

Does the Russian Gold Ban Matter?

This latest decision does matter. However, it will have a limited impact on the global gold market and gold-mining stocks. Warren Patterson, Head of Commodities Strategy at ING Groep NV (NYSE:ING), had the following to say:

“The impact from a ban on Russian gold imports by G-7 nations is likely to be fairly limited, given that the industry already took steps to restrict Russian gold […]It looks as though its largely symbolic.”

Russia has the world’s fifth-largest gold stash according to the World Gold Council. However, it only exported roughly 5% of the world’s gold supply in 2020. A bulk of those exports — over 90% — went to the United Kingdom, a G7 member. Still, Russia will likely find buyers in China and India.

In actuality, the buying pool may shift, but it will not completely evaporate.

How Does This Affect Gold Stocks?

At this point, the ban does not seem to have much of an impact on gold stocks. There’s multiple reasons why this is the case.

  1. The industry seems to have largely prepped for such a ban.
  2. Russia is not that large of an exporter of gold.
  3. The efforts from central banks to raise interest rates and strengthen currencies is likely playing a more important role in regards to precious metal prices.

Ultimately, a Russian gold ban certainly doesn’t hurt gold prices — if anything, less supply is a bullish catalyst — but right now that catalyst is not reverberating through the market. However, removing Russian supply from the market will be a modest positive for gold miners.

Published First: InvestorPlace. Read Here.

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