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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 August 13, 2020

    12 Essential Apps for Entrepreneurs To Be Highly Productive

    12 Essential Apps for Entrepreneurs To Be Highly Productive

    If you are an entrepreneur, then you are aware of the importance of time management. There are only 24 hours in a day, which means you must manage your hours properly to be able to get a lot of work done.

    With so much on your shoulders, you need to get organized. How do you achieve that? You do it by becoming tech-savvy and incorporating productivity apps to help you remain on the right track. Below are 12 essential productivity apps for entrepreneurs.

    1. Evernote

      Evernote makes it on the list because of one simple reason, besides being your little note book for scribbling your thoughts: Its freeware version is available for Web, iOS and Android. Stay organized across all your devices. Sync files, save Web pages, capture photos, create to-do lists and record voice reminders. What more do you need? Apart from all this, you can also search your tasks on the go.

      2. DropBox

        DropBox delivers instant connectivity and enables the sharing of photos, documents and videos with any laptop or mobile device through the free cloud-based file-storing service. This app is extremely handy for sharing files with your team, which prevents back-and-forth emailing. With the version control feature, you have a convenient way of sharing the latest version with your team.

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        3. Audible

          Ever wondered where entrepreneurs get their ideas from? Surely, they aren’t born with them! Any established entrepreneur you come across is probably very well-read. Hint: Take a chance at reading books and gaining knowledge to spruce up your mind. To help you do just that on the go, try Audible. It lets you listen to books without having to actually focus on reading while you are out travelling or just doing chores.

          4. TripIt: Travel Planner

            Being an entrepreneur means a lot of travelling. It gets hard to keep track of travelling schedules and bookings. With TripIt you no longer have to worry, because it organizes your travels by forwarding your booking confirmations to an email address.

            5. Lastpass

              “Errr…so what was the password?” With so many things on your mind, it can be cumbersome to remember passwords that are usually a combination of various letters and numbers. With a freeware version available for PCs and Macs, Lastpass is your personal-password manager, and form filler, that frees you from remembering your passwords. It costs $12 for the premium version that is available to download on your mobile device.

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              6. Any.Do

                Want to enter tasks on your iPhone? Use Any.Do. With its simple interface, you can add tasks either by speech or typing. If you’re logged on to your Facebook account, you can even share tasks with your contacts. Want to be alerted about a task? Add an alarm, and highlight it so that it takes precedence over other tasks. You can also add further notes and put them in a personal or work folder. The app also allows syncing with other devices to make sure you are always at the top of your game.

                7. CamCard

                  Entrepreneurs attend several conferences during the year where they meet useful contacts. Exchanging business cards is the norm in conferences, but it is also very easy to lose a business card and, ultimately, a  business prospect! Don’t let this happen to you. With CamCard, you can take a picture of your business card and have all the details automatically uploaded into your phone contacts and other email accounts. Because of its accuracy, you can be assured of flawless scanning. The best part is that you can sync data across other devices too. The app is usually free for iPhone, but its cost on other mobile phones is $3.26.

                  8. Flowdock

                    A mix of chat and inbox tools, Flowdock is a convenient way of collaborating with team members on various projects. The best part is that the app works on most browsers and mobile platforms, and it gives you features such as drag and drop, file uploads and activity streams. Your team members can get instant updates about any change on the project to which they can respond through chat messages.

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                    9. Instapaper

                      The Internet is filled with blogs and articles. Amp up your creativity by reading new posts at a time that suits you. Through Instapaper, you can save an interesting article to read at a more convenient time and in a reader-friendly format.

                      10. Expensify

                        While travelling, you probably want to keep your receipts to claim office expenses once you get home. But why go through the hassle of keeping all these receipts when a smartphone can do the same for you? By using your phone’s camera, you can take pictures of your receipts as a digital record in chronological order. Expensify also lets you log mileage, meal expenses and other business-related travel costs.

                        11. Upwork

                          Screening through resumes and tracking applicants can be cumbersome. You want to hire the best possible people for your company without wasting too much time scanning resumes. So use Upwork to help you perform these tasks; the app helps you manage the entire hiring process. This allows you to spend more time hiring instead of doing manual paper-work sorting out resumes.

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                          The app is also online so it receives all resumes in one place and tracks each candidate’s progress through application stages.

                          12. Zoom

                            Probably the most effective method for remaining in touch with all your employees, Zoom has become an office norm for instant communication and connectivity. With its app version available for mobile phones, connectivity has taken a new form by allowing entrepreneurs to schedule and attend important business conference calls on the go.

                            Bottom Line

                            By using these productivity apps, you have a better chance of organizing a systematic approach for performing tasks. There are many entrepreneurs who are striving for success. However, only a few stand apart on the basis of their work ethic and capacity to grow by incorporating smart apps in their routine.

                            Allow yourself a competitive edge by incorporating these handy productivity apps to enhance your company’s growth.

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