Are you looking at ways to slash stress and boost success in the year ahead? If you’re looking for practical insights to help your business work smarter, not harder, these 3 fast steps can help you achieve your goals. Let’s take a quick look so you can get started right away.
Automate Tracking
Many businesses are doing more work outside of national boundaries. If you’re seeing this happening in your organization, you know that working across time zones and jurisdictions can be rewarding, yet also challenging. If you’re looking specifically for ways to slash the stress, consider how you can automate the seemingly endless amount of paperwork.
One of the huge areas for boosting profits is to set up automated processes to get your claimable expenses refunded. This set of detailed requirements is commonly known as the 13th Directive VAT Rate Guide, or 13 VAT, which covers country-specific information on taxation regulations.
The tricky thing about tracking VAT refunds is that there are specific requirements covering eligibility, with rates varying across different countries. Talk about confusing and time-consuming, right?
The key is to automate your claim process. While some ambitious businesses attempt to do this in-house, more companies decide to partner with an expert organization to automate the claims process. If this appeals to you, be sure to look for a partner that has substantial experience, up-to-date knowledge of regulations, and a passion for follow-thru.
The rewards of working with a partner can be substantial. Companies can realize VAT savings of up to 27% of cross-border and local business expenses. Many organizations focus on savings from travel and entertainment (T&E) and supplier payments.
By automating tracking with an experienced VAT partner, your company can have a significant opportunity to recover the cash. As there is often a high volume of transactions and complicated tax laws across multiple jurisdictions, you may be delighted with the benefits of a strategic partnership that enables automated tracking.
Leverage Change
There’s no doubt that in the last year we’ve had a rapid escalation of change in the workplace. The question isn’t how to slow change down, but how we can transform our perspective on change.
Change experts often urge leaders to learn to leverage change. It is a mindset shift to be able to look at the opportunities that change provides, rather than resist change or hope that the rate of change will diminish. Putting this into practice is easier than you might imagine.
One unique approach is to talk to your employees and involve them in designing a customized change process. Often leaders find that employees are closest to the day-to-day realities, and have insights into innovative solutions.
By collaborating creatively with employees, you can leverage a change initiative faster and easier than by providing a top-down directive. In the process, you’ll build strong teams and make change work for you instead of against your strategic direction.
Reduce Stress and Promote Well-Being
If there’s one thing that employees and leaders share, it’s a passion for promoting mental and physical health. As a leader for your organization, you know just how important it is to reduce stress and promote well-being.
If you or your employees are stressed, it shows up consistently in ways that hurt your people, culture, and bottom line. It may appear as more sick days, loss of creativity, or poor communication. Indeed, most of us are too familiar with the impact of stress on our health, social interactions, and creative juice.
While many stressors lie outside of the realm of influence and control, many pressures are manageable with training, coaching, and mentoring. As a leader committed to reducing stress and promoting well-being, you are in a unique position to positively impact your company’s culture.
Each business is unique, so it’s very important to personalize your approach to match your employee’s needs. The workplace can be a key location to improve mental health and build essential skills, making your organization healthier and more resilient.
Experts urge active collaboration and communication with your employees to find out their top mental health and well-being concerns. As you listen to their issues, look for ways to put wellness initiatives into place in the coming year. Many organizations are providing employees direct access to well-being classes and webinars, toolkits, and virtual training.
Wrapping Up
Explore how you can take fast and practical steps for less stress and more success. As you strive to support a healthy workforce, it’s possible to slash stress, boost profits, and promote powerful skills for well-being.