Network marketing is an interesting business. While a lot of it is based on fact – like the products, the compensation plan, the company, for a lot of people, the ultimate decision of whether or not to become part of the company is based on how they feel. That feeling can come from a live person they are talking to, from a website, or just their mood that day.
As a network marketer, how do you make sure to portray your opportunity in the most favorable light? How do you sooth someone's doubts through a website? How do get people to trust you? There are certainly lots of "experts" out there. Do you turn to them for help?
Stories sell. People have to develop a connection with you. You have a very short time to engage someone's attention. Everyone loves a story. People particularly like stories about other people. If you are willing to tell something about yourself, good bad or otherwise, it helps people trust you. This is particularly true on a website where that story may be the only chance you have to get personal.
Everybody loves pictures. We all think we can judge someone by just looking at them. Well, we all know that is not quite the way it works out sometimes, but we all want the chance. Putting your picture out there helps people identify with you. How you present yourself is always a bit of a challenge. If you wear a suit, people may think you are out of reach. Too casual and they wonder if you are making it. It is good to have a little of both
Public Relations is a very generic term covering a whole area of marketing, communication, profile raising and management strategy. It is all about how an organization is seen by the outside world, the message it sends and the public's perception of its service or product.
According to the Public Relations Society of America (PRSA): "Public Relations is a strategic communication process that builds mutually beneficial relationships between organizations and their publications . "
The means through which important information is conveyed are various, and often depend heavily upon the nature of the target audience. For instance a company communicating directly with its work would be unknowingly to choose a public medium such as a newspaper advertisement through which to pass its information on, while news of a new product intends to achieve mass recognition would not be usefully served by its inclusion as a footnote in the corporate newsletter.
Edward Bernays, acknowledged by many to be the founder of modern PR, said it was "a management function which tabulates public attitudes, defines the policies, procedures and interests of an organization … followed by executing a program of action to earn public understanding and acceptance " .
The key to Bernays' analysis lies in a clear understanding of the role of management in identifying public attitudes and using them as a means through which to inform company policy, thereby responding to a need as opposed to having to create one.
Once one masters this principle and applications it as a benchmark around which a company's strategy is built, it is simply a question of taking advantage of the diverse range of media available for spreading the company message to the best effect.
Developing an organization's PR portfolio requires an understanding of all that is effective in today's world for communicating with the intended audience. This takes us well beyond mundane, conventional advertising and into the realm of web development, search engine optimization (SEO) and of course social media. It means establishing a presence in each and every area of activity and development that presence around a unified corporate message that is short and punchy but which at the same time is able to offer a subliminal picture of the product itself.
In effect what we are describing is a complete marketing solution, an integrated PR strategy for information and reputation management.
PR then is about much more than sending out good news to as wide an audience as we are capable. It is just as much about managing the message so that the public perception of a product or service is the perception you wish it to have.
A website is simply a website if it does not have the potential to draw traffic or ignite interest among online users. ‘Seeing is believing’ and it holds true for websites too. The importance of user interface design of your website is the first step in achieving high volume online visitors. In an era of heightened ecommerce activities and increased internet-dependence, websites are the gateway to knowledge, information, entertainment and social activities.
Just like how your choice of clothes talks about your outlook and overall appearance so does website about your business approach and ultimately about You! So, if you are planning on enhancing your visibility online, it is high time retrospect your website and fool proof it. In any field of life, anything complicated is best left avoided-a difficult, complicated, non-user friendly website is bound to repel away online traffic. The objective of a website is best achieved through the application of simple and efficient user interface design or commonly referred to as user-centric designs. Therefore, a good user interface design usually facilitates smooth completion of task at hand and adaptable to all the user’s needs.
With the increasing web traffic because of the popularity of ecommerce and social networking, mere creating a website for your business aspects is not sufficient to sustain online traffic attraction and retention. When talking of user interface design it is impossible to overlook the role of typography in web designing because typography occupies 95% of the total elements of a website. Textual content of the website-relevance, informative, attractiveness and uniqueness contribute majorly in attracting and retaining web visitors.
Therefore, optimizing typography is optimizing the readability, accessibility, usability and overall graphic balance. Building an interactive user interface web design is an excellent tool to solving online users’ queries and concerns, making your website an efficient two-way communication medium. Most online companies rope in professional web designer and logo designer to enhance their website interactivity through tools such as blog page, online chat, email, auto responders, forum page, sending e-course about various products.
Internet accessibility is rapidly increasing and most of its users are people with less technical ‘know-how’s from all walks of life. In fact, even if your website has great graphic works it will fail to hold high traffic volume because usability is what matters in the end. If you do not believe it, then try out yourself. Visit the best, popular and high volume website like Google, Facebook, Bing etc. and experience the ease surfing through these sites. So, is your website user-friendly and easy to navigate?
HRM strives to achieve organizational goals and the goals of employees through effective personnel programs policies and procedures. Successful performances of the personnel function can greatly enhance the bottom line of any organization. The personnel practitioners however are challenged more today than at any time in the history by a changing and more demanding labor force that has high expectation about the work place. At the same time, rapidly advancing technologies and outside influences are changing the nature of our jobs. It is thus more critical and more difficult to maintain a work environment that motivates and satisfies Human Resources.
Edward flippo states: “personnel management is the planning, organizing, directing and controlling of the procurement, development compensation, integration, maintenance and separation of human resources to the end that individual, organizational and societal objectives are accomplished.”
According to Wayne. F. Cascio “Compensation which includes direct cash payment, indirect payments in the form of employee benefits and incentives to motivate employees to strive for higher levels of productivity is a critical component of the employment relationship. Compensation affected by forces as diverse as labor market factors. Collective bargaining, government legislation and top management philosophy regarding pay and benefits”
Compensation may be defined as money received for the performance of work plus many kind of benefits and services that organizations provide their employee.
Compensation is recompense, reward, wage or salary given by an organization to persons or a group of persons in return to a work done, services rendered, or a contribution made towards the accomplishment of organizational goals. Wage, dearness allowance, bonus and other allowance are examples of monetary compensation, while good accommodation, children education, transport facilities, subsidized ration of essential commodities, etc. come under non-monetary compensation. In short, wage paid to collar workers or salaries paid to white collar employee can be classified as compensation.
A good compensation package is a good motivator. Hence, the primary responsibility of the HR manager is to ensure that the company’s employees are well paid.
OBJECTIVES OF COMPENSATION:
To attract capable applicants. To retain current employee so that they don’t quit. The employee is motivated for better performance. Reward desired behavior. To ensure equity. To control cost.Facilitate easy understanding by all i.e. employee operating manager and HR personnel
The remuneration paid, for the service of labour in production, periodically to an employee/worker. Wages means any economic compensation paid by the employer under some contract to his workers for the services rendered by them. Usually refer to the hourly rate paid to such groups as production and maintenance employees’ wages include family allowance, relief, pay, financial support etc.
Salary is influenced by the size of a company by the specific industry, and in part by the contribution of the incumbent to the process of decision-making. Salary refers to the weekly or monthly rates paid to clerical, administrative and professional employees. Salary is determined by mutual agreement between the individual and the employer.
An incentive scheme is a plan or programs to motivate industries or group performance. An incentive program is most frequently built on monetary, but may also include a variety of non- monetary rewards or prizes.
The effective use of incentives depends on three variables. They are:
1. The individual.
2. The work situation.
3. The incentive plan.
Factors influencing compensation:
1. Organization’s capacity to pay
2. Prevailing pay and benefits in the industry:
3. Compensation in the industry and availability of special competent personnel
4. Flexibility, i.e. kind of competencies and abilities in managers:
5. Performance/productivity/responsibilities of individual.
6. Organization philosophy such as to be leader or pay prevailing rates.
7. Qualifications and relevant experience.
8. Stability of employment and advancement opportunities.
“Compensation literally means to counterbalance to offset, and to make up for. It implies an exchange. Compensation translates into different meaning among countries and even overtime”.
According to G.T Milkovich and bloom “perception of compensation differ within countries as well. Some in society may see pay difference as a measure of justice.
To stockholder, executive’s pay is of special interest. In united state stock option are commonly believed to tie pay of executives to the financing performance of the company.
Employee may see compensation as an exchange of service rendered or as a reward for a job well done. Compensation to some reflects the value for their personal skills and abilities, or the return for the education training they have acquired. The pay individual receive for the work they perform is usually the major source of personal income and financial security and hence a vital determinants of an individual economic and social well being.
Managers also have a stake in compensation: it directly influences their success in two ways. First it is a major expense competitive pressure both internationally and domestically, forces managers to consider the affordability of their compensation decisions. Studies show that many enterprises labor costs account for more than 50% of total costs. Among some industries, such as service or public employment, this figure is even higher.
In addition to treating pay as an expense, a manager also treats compensation as a possible influence on employee work attitude and behavior and their organization performance. The way the people are paid affects the quality of their work, their focus on customer needs, and their willingness to be flexible and learn new skills, to suggest innovation and improvement, and even their interest in union or legal action against their employer.
FORMS OF PAY
Total compensation includes pay received directly as cash (e.g., base wage, merit increases, incentives, and cost of living adjustment) or indirectly through benefits and services (e.g., pensions, health insurance, paid time off). Programs that distribute compensation to employees can be designed in an unlimited number of ways, and a single employer typically uses more than one program. The major categories of compensation include base wage, merit pay, short and long term incentives, and employee benefits and services.
Base wage is the basic cash compensation that an employer pays for the work performed. Base wage tends to reflect the value of the work or skills and generally ignores difference attributable to individual employees. Some pay systems set base wage as a function of the skill or education an employee possesses; this is common for engineers and scientists. Periodic adjustments to base wages may be made on the basis of change in the overall cost of living or inflation, changes in what other employers are paying for the same work, or changes in experience/ performance/ skills of employees.
Incentives also tie pay directly to performance. Sometimes referred to as variable compensation, incentives may be long or short term, and can be tied to the performance of an individual employee, a team of employees, combination of individuals, team of employees, a total business unit, or some combination of individuals, teamed unit. Performance objectives may be defined as cost savings, volume produced, quality standards met, revenues, return on investments or increased profits; the possibilities are endless.
Long-term incentives are intended to focus employee efforts on multi year result. Top managers or professionals are often offered stock ownership or bonuses to focus on long-term organizational objectives such return on investments, market share, return on net assets and the like. Coca-Cola grants shares of stock to selected “key contributors” who make outstanding contribution to the firm’s success. Microsoft, Pepsi, Wal Mart and Proctor & Gamble offer stock options to all their employees. These companies believe that having a stake in the company supports a culture of ownership. Employees will behave like owners.
Incentives and merit pay differs. Although both may influence performance, incentives do so by offering pay to influence future behavior. Merit on the other hand, recognizes outstanding past performance. The distinction is a matter of timing. Incentives systems are offered prior to the actual performance; merit pay on the other hand, typically is not communicated beforehand.
The national commission on labor makes the following recommendation with respect to incentives:
(a) The application of incentives schemes has usually to be selected and restricted to industries and occupations where it is possible to measure on an agreed basis, the output of workers or a group of concerned workers and maintain a substantial amount of control over its quality.
(b) Incentive schemes have to embrace as many employees of an enterprise as possible and need not be limited only to operative or direct workers.
(c) A careful selection of occupations should be made for launching incentives scheme with the help of work-study teams commanding the confidence of both the employer and employees. The incentive scheme is required to be simple so that the workers are able to understand its full implications. The employers need to ensure that external factors such as non-availability of raw material and components, transport difficulties and accumulation of stock do not exert an unfavorable impact on incentive schemes.
(d) Production has to be organized in such a way, which does not provide incentive wage on one day, and unemployment on the other day- there should be a provision of the fullback wage as a safeguard against it.
(e) According to Subramaniam, there are several prerequisites to the effective installation and operation of payment system:
a.) It should be developed and introduced with the involvement of the workers concerned in a harmonious climate of industrial relations.
b) Work-study precedes the installation of incentive programs.
c) The wage structure should be rationalized on the basis of job evaluation before devising an incentive plan.
d) The objective to be accomplished through incentives should be defined and accordingly, an attempt should be made to select a scheme, which is most suitable to accomplish them.
BENEFITS & SERVICES
The fringe benefit systems purported to develop a climate for healthy employer-employee relationship, minimize excessive labor turnover costs and provide a feeling of individual security against hazards and problems of life with a view to eventually enhancing employee loyalty to the company and improving productivity.
M.Chandra lucidly describes fringe benefits provided by the employers to their employees under the statutory provision or on a voluntary basis. The social services provided under the factories Act, 1948, in the manufacturing industries include canteen, rest shelters, crèche , storage or lockers, sitting arrangement, bathing and washing facilities and appointment of welfare officers, etc. other benefits include festival, year-end profit sharing, attendance and production bonuses, protective equipment’s, free supply of food items on concessional rates. Social security system provides benefits such as provident fund, employees state insurance (ESI) scheme, retrenchment compensation, employment injury compensation, maternity benefits, gratuity, pension, dependent allowance and contribution toward pension and gratuity claims.
In addition, other facilities enjoyed by the workers include medical and health care, restaurants, cooperative credit societies and consumer stores, company housing, house rent allowance. Recreational and cultural services, clubs, cash assistance. Some employers also provide education, transport facilities and conveyance allowance.
Laxmi Narain points that fringe benefits are an integral part of the reward system in the public sector undertaking and relate to management motivation similar to basic compensation.
Quite a few businesses consider the growing of their enterprises a worthwhile endeavor. However, in this day and age, exponential growth cannot be achieved without the use of software. The types of software companies use (referred to as business software) heavily involves in managing the company. With the use of the correct software, any company or business, regardless of the size, is capable of phenomenal growth.
Due to the fact that there is an overwhelming amount of software available, choosing the correct software to help grow your business becomes all the more imperative as certain businesses require specific kinds of software. Below is a list of software which will benefit just about any company out there.
1. Customer Relationship Management
Also referred to as a CRM, this system is tasked in managing client interactions. The benefit lies in the ability to provide companies an efficient method to handle customers, both current and future.
Businesses using a CRM system can develop loyalty with their clients by having a system which allows the company to keep in touch with their clients. In addition, Customer Relationship Management Systems provide an organized structure for the list of clients, meaning businesses will always be able to keep track of their clients with ease.
By utilizing the database created using a CRM, businesses can keep track of the customers’ demands and behaviors. This allows for better optimization of marketing tactics as the database will provide an understanding of what the customer is looking for. With the data collected, a business can apply a new marketing campaign or modify a current one to improve efficiency and ultimately, increase revenue.
With the reason that CRM’s manage clients, any company which provides services or products will find this type of system highly beneficial.
2. Reputation Management Systems
Pertaining to the field of business, reputation plays an important role in securing potential clients or partners. Because of this, businesses will find a Reputation Management System to be incredibly beneficial regardless of its size.
Encouraging and promoting positive reviews, this system is capable of providing companies with a method to improve or maintain reputation, while also allowing for time and space to resolve any customer complaints or negative reviews. Through creating surveys using this system, businesses can track customer responses. Using this knowledge, they can then assess which areas require attention or improvement.
Handling your company’s reputation becomes a simple task with this type of system in place. With Reputation Management, becoming a reputable company will only require time. As a reputable company with great credibility, the ability to gather more customers and clients becomes all-the-more easier.
3. Electronic Document Systems
Business is a fast-moving environment. As such, speed becomes a proper concern. The ability to aptly edit, send, and receive documents or files becomes invaluable in such a work place. Electronic Document Systems can provide just that.
These types of systems store documents and files in the cloud, or the internet. Additionally, by being electronic, these types of documents can be quickly accessed, edited and sent with very minimal effort. Rather than having to find the physical document in a storage, electronic documents can be accessed wherever there is an internet connection. If ever you receive an urgent request for a file, you can access the database on your tablet or phone and send the file off using the touch of a few buttons. This takes the phrase ‘at your fingertips’ quite literally.
Because these documents are electronic in nature, implementing this sort of system will greatly increase company efficiency and productivity. Although this is even more beneficial to businesses that handle a large volume of documents (such as law firms), a single document delivered timely and accurately can be the deciding factor between success and failure no matter the size of the company.
There are many more types of software out there. Some of which are much more specific to a certain company’s demands. These 3 systems, however, are the most versatile. They can be applied to just about any business looking to expand. By using one or any combination of the three, businesses can hope to see a tremendous growth with their business.
Shakespeare, in Act 2 of his circa 1603 play Othello, said it best: Reputation, reputation, reputation. It is the original personal brand and one of the defining realities of our lives. For Solopreneur consultants and other self-employed professionals, reputation governs the number and quality of projects made available to us and there, reputation impacts our income and the kind of life we're capable to live. It pays, in more ways than one, to cultivate a peerless reputation and guard it vigorously.
In the internet age that is especially so, in both the personal and professional sectors. Mistakes and mischaracterizations made in digital formats are extremely difficult to dodge, ignore, deny, or correct. One's online reputation is the ultimate flypaper. Take steps to ensure that what sticks to your name is all good.
Along with Facebook, Twitter and YouTube, Instagram and Pinterest are the sites where images of you are most likely to be posted, by yourself and others. When cameras are around, meaning whenever anyone has a cell phone, which is about 24/7, make sure that your behavior represents you and your brand well.
There's nothing wrong with being photographed in an obviously casual gathering. Just make sure that you (or others) are not in the middle of activities that could be misconstrued and reflect poorly on you sometimes in the future. If you regularly appear in photos that you know or suspect will be posted to social media sites, counteract with a photo of your own that shows you at work, paid or volunteer. Balance your accounts, so to speak, and show that there is more to you than non-stop partying.
Create and regularly post original content that makes you look smart, professional and successful. On your LinkedIn account, announce when you will attend a symposium, serve on a panel, teach a course or workshop and definitely broadcast the good news if you've recently earned a professional certification or advanced degree.
If you've presented a webinar, request the replay and turn it into a podcast for your website and YouTube. If you write a newsletter or blog, link it to your website and LinkedIn. If you're on Twitter or Instagram, produce streams of high-quality feed and images that convey the competencies and values that you want to be known for.
Twitter, Instagram and Facebook can feature glimpses into your personal life as well and it could all be for the good, as long as you are strategic about what is revealed. Your volunteer work is always a safe bet. Training for a marathon or even a fun and casual volleyball or softball league would be excellent. Your parent's wedding anniversary party would make another good personal aspect to include in your online narrative. Be aware that narrative is the operative word. Create the story that you want to be told, in a way that makes you look wonderful.
About every three months, search your name and your company name in engines such as Bing, Google and Yahoo and see what comes up in the first 50 listings. Are you happy with what you see? Try keywords related to your business along with your city and check your professional reach in a more meaningful way.
If you find that your business has been reviewed in a negative and inaccurate way, contact the reviewing site and request that the offending post be removed. If customers have offered criticism that just may be constructive, address the matter. Apologize and offer your side of the story. Make amends if possible. By doing so, you'll add to your credibility and customer service reputation.
It's been reported that 70% of US employment recruiters have rejected potential job vacancies when something about them that was considered unsavory appeared on social media. Solopreneurs should assume that prospective clients will do the same. Maintaining and monitoring your online reputation has never been more important.