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6 Powerful Tips for Successful Contract Management

6 Powerful Tips for Successful Contract Management

When hiring new human resources for your company, some aspects of formalizing this process tend to be messy, leading businesses to waste precious time on something that is supposed to be a straightforward process. If the recruiter neglects aspects of the contract, or potential legal voids are left unsolved, this neglectful performance will inevitably produce a significant impact on your company.

So how can you ensure that this managerial process meets the needs of both employee and recruiter? It goes further than a simple document filled with pre-settlements and clauses overseen by lawyers, but a precise method to cover all the aspects of an agreement; therefore, HR professionals ought to have cutting-edge managerial skills to provide a valid performance in handling not just the legal document, but the company’s relationship with the hired newcomer.

Here are some effective tips to improve your organization’s recruitment performance.

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1. Don’t leave any doors open

Good contract documents are those that include performance indicators as contractual obligations; and by asserting this point your potential supplier will know beforehand what is expected of him/her, as well as setting ground for sanctions in case the provider’s work isn’t what it’s supposed to be.

Social media conduct clauses should also be included to prevent sensitive data leak, but also to protect your company’s reputation, as employees commonly engage in topics like politics, sports, and social causes without even realizing they automatically label themselves as part of your organization when they add their workplace on their social media profile.

2. Set an escape route

Relationships tend to deteriorate with time, and companies are just the prime example of that. It could be labelled as a smart move to establish your “plan B,” in case things go wrong by stating all the elements that can lead both parties to contract annulment. It’s a confidence boost for the employee, as you are saying beforehand the terms and conditions that can end the contract if needed, but also cover your back from potential court audiences.

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3. Keep tabs on what both parties have agreed

The basis of a good managerial performance relies on not just signing a contract, but doing a constant follow up of your employee’s conduct. By doing this, you are sticking to the contractual obligations that were established, as well as securing your organization’s interests. Schedule monthly reunions with your recruited staff, and provide a valid checklist of the elements that are not going as expected, as well as counteractions to solve these issues; the sooner, the better.

Set measurable goals for both recruiter and employee; that is the way healthy businesses work.

    Photo courtesy of Tim Gouw

    4. Remind yourself that contracts have expiration dates

    This is a point commonly neglected. People tend to archive contracts without even bothering to look at the actual contract end date; and, since all contracts should have start and end date, as relationship terms naturally change with time, this unsafe practice leads the organization to conflicts between both parties, as technically the supplier isn’t even working under legal terms, and his/her situation should be reviewed as soon as possible.

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    5. New times require new resources

    We are in 2017, so a pen and notebook are not acceptable methods for tracking contractual details, nor for managing several deals with long terms. With the advantages in Enterprise Contract Management Solutions, software can offer us all the elements needed to keep tabs on the documents produced. Plus, it also provides analysis tools for HR managers to track milestones and obligations, generate reports, and much more.

    6. Analyze behaviour prior to settling a contract

    You want this whole ordeal to be a success, right? First of all, you need to remind yourself that contracts are not just legal obligations, but also reflections of a formal setting between two parties. Those parties aren’t necessarily driven by the same motivations when looking for success.

    By doing some easy, relaxed questions during the interview process, you can pinpoint warning elements – that can be both positive or negative – about the performance of your future employee. If unsure, request help from a professional to give your organization an insight about these analyses.

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    Featured photo credit: Unsplash via pexels.com

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    Last Updated on May 28, 2020

    9 Things Successful People Do To Always Get What They Want

    9 Things Successful People Do To Always Get What They Want

    One of the best decisions I’ve ever made was to take on the job of hosting my own weekly radio show. My radio show is about finding some of the most successful people in the world and bringing them on my show to ask them about what they did to become so successful in life and business.

    In this article, I’m going to share with you some of the key takeaways I’ve picked up from talking to – and reading about – thought leaders from various fields about the things successful people do. Here, you can get some insights on how to get what you want.

    Ready to dive in? Let’s go.

    1. They Know What They Want

    The first and most important thing that successful people do to always get what they want is so simple that most people forget about it: they figure out what they actually want.

    When you know what you want, you will also know how to get what you want. If you’re unsure about what you want in life and business, I’d suggest picking up some career and self-improvement books to help you gain some clarity and focus.

    2. They Are Assertive

    Successful people know that they need to be both bold and sincere. Balancing these two characteristics is the essence of assertiveness.

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    Oh, and by the way – being assertive is not a natural talent someone is born with. Assertiveness is a learned skill and anyone can do it, including you!

    3. They Learn

    You may have heard of the old saying, “great leaders are readers”. For the most part, I’d say this is true.

    Let me give you an example. On my radio show, I regularly ask successful people about their habits that lead to success. Do you want to know something really neat? Every single one of them reads books.

    Successful people read and learn as much as they can about what they want so that they can get what they want. If you’re curious about how to get what you want, then start reading a book. If you’re low on time, subscribe to a book summary site to get the core concepts of the books in your industry quickly.

    4. They Make Things Meaningful

    One of the most powerful things successful people do to always get what they want is that they make things meaningful. That is, they ensure that whatever endeavor they decide to embark upon is meaningful to them (and not necessarily to anyone else). They know and understand that it’s only worth it if it matters.

    5. They Ask

    One big thing that successful people always do to get what they want is this: they ask.

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    Most people are too shy to ask for what they really want. If you are too shy to ask, you may never know how to get what you want. So, don’t be like most people.

    Here’s an exercise you can do to get over it: next time you’re buying something, regardless of what it is, ask for a discount. Just do it. The worst-case scenario is that you’ll get a chuckle from the Barrista at Starbucks. The best-case scenario is that you’ll get comfortable with negotiating when it’s time to buy your next car.

    6. They Take Action

    Insight without action is useless. Successful people know that to always get what they want, they’ve got to take massive action.

    One of the most powerful exercises I’ve ever discovered is this: never leave the sight of a goal without taking some kind of action towards its achievement. In other words, as soon as you decide you want something or as soon as you set a goal of some kind, do something – anything – that shifts you closer towards getting it.

    7. They Use Their Time Wisely

    Have you ever heard of NET time? It stands for “No Extra Time”.

    For example: when you’re driving and sitting in traffic, are you listening to Mylie Cyrus? Or are you listening to an audiobook?

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    Successful people take NET time seriously. Get yourself some audiobook so you can start listening to the best business and self-improvement books available – all while you’re on your way to work in the morning.

    8. They Choose to Lead

    You don’t need to have formal authority to become a leader. You just need to choose yourself. All successful people know this, and so should you. Knowing how to get what you want requires knowing how to lead the way for others and yourself.

    Don’t wait for anyone else to do it, because the truth is that most people want to be led anyway. So, just step up and claim authority. Be the leader you wish you always had.

    9. They Contribute

    Successful people know that to get what they want, they have to be willing to help other people get what they want.

    What happens when you stop doing your job? What happens when you stop caring about your schoolwork? What happens when you become emotionally disconnected from a relationship?

    You suffer – that’s what happens. Successful people know and understand that in order to succeed, they need to contribute. They need to add value to the lives of others. They need to do their best so that they can become the best.

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    So, Now What?

    I hope this article has re-ignited the fire that you already had within you to be successful at any endeavor. The reason why I’m stressing the fact that you’ve already got everything you need to succeed and get what you want is that you wouldn’t be reading this if you weren’t already motivated to be successful.

    At the end of the day, however, all the insights in the world are worth nothing unless you combine them with action. When it’s all said and done, it’s your decision what you do with this list and how you apply it to your life and career.

    But if I may, here’s what I would suggest you consider as you get started doing the things to help you succeed:

    Review this list of the 9 things successful people do to always get what they want and then compare it with where you currently are at each one of these 9 things. Rate yourself in each one of the 9 things. Next, pick just ONE of them to work on every week.

    For example, if you find that you’d like to learn more about the business side of the company you work for, then go read the best business books to help you do that.

    Never stop learning. Always feed your mind with the knowledge you need to become as successful as possible within your area or industry. It doesn’t matter how busy you are. We’re all busy. Make the time to expand your knowledge.

    And remember: every key learning should be immediately followed with action.

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    Featured photo credit: Austin Distel via unsplash.com

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