The holiday season is upon us and you’re going to want to start shopping early this year. The global pandemic has slowed down production and supply chains so starting early has never been more important. Take a look at your gift list and start shopping for the women in your life.
For the woman in your life that already has everything she needs we suggest going with an experience instead. Some options include a subscription service or a gift card to their favorite restaurant. Buying them tickets to a museum, concert, or event are also a great option. These gifts are thoughtful while also being useful and practical. There are hundreds of amazing subscription services out there. You can gift the women in your life a subscription to new books, plants, snacks, or beauty products.
For the woman in your life who has had a hard year you should think about gifting something to give them a break. You might pay for a maid service for a new mom, a massage certificate for a stressed out friend, or a dog walking service for an overwhelmed family member with a new puppy. All of these simple gifts can make their life a little easier and provide a luxury they otherwise wouldn’t buy for themselves.
For the woman in your life who wants to treat herself think about some self care focused gifts. A basket filled with self care goodies like bath bombs, books, candles, or a bath tray can make a great gift. For the friend who is trying to get on a new schedule a smart alarm clock can also make a great gift. Consider gifting them some books on meditation, mental health, or an adult coloring book.
For the woman in your life who loves all things fashion we suggest gifting accessories. Clothing can be a tricky gift because of sizing issues from all different brands. To make sure no one is offended we say go for accessories instead. A soft cashmere hat, a brand new handbag, or a pair of gold earrings will please any fashionista. For the winter months ahead gifting a friend a lovely sunflower necklace can keep them feeling positive.
For the woman in your life who likes a challenge we suggest gifting a game. From beautifully painted puzzles, to crossword puzzle books, to adult card games there are a lot of options for the gaming inclined. Not only will they find these gifts more useful but they will also be able to play with their loved ones. They make a great gift because they can share with others.
We hope these gift ideas will make your holiday shopping just a bit easier. Shopping for the woman in your life should be stress free and easy. Going with an experience, subscription, or certificate instead of a tangible gift means you won’t have to wait for deliveries. If you still want them to have something physical to open on the holidays then a game or accessory might be the right choice. Find the perfect holiday gifts for everyone on your list.
A Specialized Investment Fund (SIF) is a structure that can invest in a wide range of assets. It normally qualifies as Alternative Investment Fund (AIF) and can be offered to qualified financial investors.
Eternity Law International offers investment fund in Luxembourg for sale and can also provide services of formation of investment fund in Luxembourg on your request. Contact us to discover more!
Legitimate system
SIFs are regulated by the Luxembourg Law of 13 February 2007 (SIF Law). The SIF system was amended by the Law of 12 July 2013 on Alternative Investment Fund Managers (AIFM Law). Accordingly, the SIF Law is presently separated into two sections: (I) general terms applicable to all SIFs, and (ii) explicit arrangements appropriate to SIFs which qualify as Alternative Investment Funds (AIFs) and which are needed to be managed by an approved Alternative Investment Fund Manager (AIFM). Because of the wide meaning of AIFs, most SIFs qualify as AIFs.
SIFs putting short-term investments and having distinctive or combined goals offering returns in accordance with currencies market rates or saving the estimation of the speculation should additionally conform to the requirements of The Regulation (EU) 2017/1131 on currency market funds.
There are some extra requirements that must be fulfilled at state as well as EU level (for example concerning AML, MiFID, market misuse, subsidiaries).
Legal form of the funds
The SIF might be established in various structures:
A fond commun de situation (FCP), for example a typical fund. The FCP has no legal personality and should be controlled by a Luxembourg the board organization;
A société d’investissement à capital variable (SICAV) or société d’investissement à capital fixe (SICAF), for example open- or closed-ended venture organizations with variable capital and fixed capital requrements.
The FCP or SICAV/SICAF might be set up as a fund or as an umbrella construction with different branches. The fund separately may have a limitless number of stakes/unit classes.
Authorisation
SIF should be approved by the Commission de Surveillance du Secteur Financier (CSSF) prior to starting its action. A while later, it is directed by the CSSF on a continuous premise for example through normal reporting. The CSSF charges a yearly costs for its administrative action.
The reports and data are ussually arranged and submitted to the CSSF with the help of lawyers as well as a bank managers in Luxembourg.
The CSSF keeps a list of the approved SIFs that are dependent upon its oversight. A SIF may begin business when authorisation has been issued.
Capital base
The net resources of a SIF may not be not exactly EUR 1,250.000. This base should be reached inside a time of a year following its authorisation. Minimum 5% of the capital should be settled up at start.
Disclosure conditions and financial reports
SIF should set up a plan or offering brochure, a PRIIP Key Information Document (KID) if retail intestors can make investments, and a yearly report. There is no commitment to set up a semi-yearly report.
Arrangement of an AIFM
SIFs that qualify as AIFs are needed to choose an AIFM except if they benefit from the restricted exclusions given by the AIFM Law. SIFs qualifying as AIFs may either name an outside AIFM (the administration organization of the fund is delegated as AIFM) or decide to be inside managed. In the last case, the SIF will itself be considered as the AIFM and should fulfill all requirements of the AIFM Law.
Services providers
A typical fund should be controlled by a management organization, while a SICAV/SICAF may either act as self-managed. The administration organization of a FCP should draw up the administration guidelines for the common fund. Self-managed SICAV/SICAFs may just oversee resources of their own portfolio and may not oversee resources in the interest of other parties. The AIFM of a SIF should be located in Luxembourg.
A SIF should designate a Luxembourg depositary which is in addition to other things answerable for the supervision of assets. The qualified depositories are Luxembourg credit establishments, yet in addition Luxembourg financial companies satisfying certain prerequisites set by the Law of 5 April 1993 on the financial sector.
The heads of the SIF and of the depositary should have adequate and pertinent experience.
The yearly report should be reviewed by an approved independent inspector with professional experience.
The second-largest economy in the continent, South Africa boasts one of the most sophisticated financial markets in the world, complemented with a robust regulatory system. The country is home to a number of major multinational players in the fields of industry, energy and financial services. And the best, most secure and quick way to enter this highly profitable industry is to buy an established financial business. If you are looking for the financial business for sale you can check Eli-deal services in category businesses for sale.
Finding an established company with consistent revenue, employees in place and profitability may be the easiest way to go into business for yourself. No need to start from scratch. The prospective advantages are attractive to lenders as they are to become owners, who therefore often secure loans on better terms than competitors starting a business from scratch. However, it depends on buying a well-managed, profitable business for the right price – and the requisite personal qualities are significant drivers of success too.
Getting qualified
The set of skills, experience, and qualifications necessary to succeed in this sector are contingent on the type of business and the expected position of the purchaser – whether a person intends to be a hands-on operator or a passive investor. Almost all industries related to handling or advising on financial transactions or decisions have one thing in common – the regulations are stringent, especially in South Africa. Given the strict rules, you need to obtain certain accreditations, qualifications, and proof of lack of a criminal record.
Being qualified doesn’t mean having a specified education, it is about having extensive experience in your field. This mainly applies to brokers and agents. If you are not qualified or lack experience in the relevant fields then you have to find someone with industry experience and partner with them. Thus, your partner will be responsible for reporting to the Financial Sector Conduct Authority (FSCA). In fact, business persons, who have taken senior commercial positions in other sectors can often succeed by sharing their outsider’s perspective.
Choosing a niche
Certainly, a niche is not just conceived overnight; it’s set and refined over time. It begins with target clients, which leads to developing a unique expertise for catering to those clients and the problems they want to solve, and that in turn leads to the development of a services portfolio and a business model to follow the clients and their needs. As services are provided, new ways to focus on the client base emerge, new expertise is acquired, the business model is further refined, and the process is iterating until a finely honed niche emerges.
For instance, financial consultancies can command high fees since their clients are usually cash-rich and willing to pay substantially for the prospect of greater returns.
The impact of technology trends is another field of investigation. When the dominance of insurance brokers got eroded by price comparison platforms, many of them have adapted their business models to continue staying on track.
Mortgages are too difficult for most house purchasers to make clear all aspects by themselves, so mortgage brokers are less impacted.
Issuance of credit to low-income people that cannot use conventional sources of borrowing, microfinance, or microcredit also remains a prospective field for innovative, socially conscious entrepreneurs.
Debt collection agencies or developers of accountancy software also represent a promising niche in the financial market.
If you lack experience in dauntingly complex, tightly regulated financial products, you may consider buying a franchise. This is an excellent choice for new players that need comprehensive training and ongoing support from head office, but start-up costs and royalty fees can put a serious damper on a franchisee’s take-home pay.
The Due Diligence and Valuation Process When Buying a Business
The next steps when acquiring a business include examining detailed information from the seller regarding the business operations and finances, also known as due diligence.
A business valuation expert can provide you with advice on whether a seller has valued their financial business with justice. The price is contingent on net profit that in its turn depends on the business’s strengths and the fortunes of the wider sector.
Once a provisional price is negotiated, you need to conduct due diligence, which involves the following information:
History of profits and losses; future projections;
Operating costs and any debts if any exist;
The business model
Compliance with financial services regulations;
Qualifications and experience of a team;
The state of any premises involved;
If the due diligence process defines any undisclosed problems, you can negotiate the price downwards, or at least request warranties and indemnities that lower the risks. However, if the seller is not open to renegotiating, or your findings are not satisfactory, you can always walk away from the deal and consider others.
The process to buy an existing financial business can be costly and exhausting. Thorough research, due diligence, and a reasonable offer are the main points that should be conducted and considered while choosing the right business.
Why choose us?
ELI Deal service provides a cost-effective route to market for business owners and a one-stop shop for aspiring business people and buyers. You can see a large list of businesses for sale in different jurisdictions, which is constantly updated with new offers. Our specialists will help you choose the best option among various businesses for sale. Feel free to contact us anytime.
“There is a need for holistic solutions to replace the old methods of mitigating and preventing threat actors in both the digital and physical arenas,” Tal Dilian, founder of Intellexa, says about the necessity of data optimization for modern law enforcement agencies.
In an increasingly digital world, the intelligence company Intellexa, founded by Tal Dilian and Avraham Shahak Avni, has proven that data optimization is essential for digital companies and law enforcement agencies.
“There is a need for holistic solutions to replace the old methods of mitigating and preventing threat actors in both the digital and physical arenas,” says Dilian.
Intellexa has developed a platform that helps law enforcement agencies (LEA) and intelligence organizations cultivate and contextualize data regarding threat actors through analysis and optimization of the information.
Intellexa Delivers Data optimization tools to win the Digital Race
To keep pace with the constantly evolving technological landscape, intelligence firms like Tal Dilian’s Intellexa see data optimization as one of their top priorities.
Technological progression has enabled criminals to advance their capabilities, allowing them to operate under police radar.
Intellexa helps LEAs and intelligence organizations across the globe catch offenders via its ground-breaking technology. Intellexa’s Nebula technology helps LEA identify potential threats, generate intelligence, and support investigations by combining data from multiple sources, including third-party data, and formats.
Intellexa was born in 2019 from what Tal Dilian and Avraham Shahak Avni, seasoned intelligence veterans, viewed as a gap between the needs of LEAs and what was available in the market. They concluded that decision-makers face challenges by siloed data that can lead to inefficient judgments.
“There was a need for holistic solutions to replace the old methods of detecting and catching suspects and criminals,” adds Shahak Avni, co-founder of Intellexa.
As a result of the company’s management team’s 40 years of experience in intelligence, the company has developed state-of-the-art proprietary technologies. With its headquarter in Greece, the EU-regulated Intellexa has five more sites, including R&D labs across Europe, Latin America, and East Asia.
Decision-making made easier with Intellexa
When LEAs need to make hasty use of accumulated data, analysts and operational actors can find themselves spending precious time sorting through these immense troves of information, slowing down and even compromising operational standards.
By working with Intellexa, LEAs can make connections and associations between various data sets, allowing for swifter decision-making and, more importantly, accurate decision-making.
By analyzing immense amounts of data, the techonology paves the way for relevant and actionable reports on potential outcomes.
Reducing the amount of money spent on the administration and management of scaled data systems provides the necessary flexibility to the organization. In addition, it can enable your firm to respond to malfunctions immediately and build robot data infrastructure.
Many companies restrict data dashboards and exploration to analysts and scientists. However, data experts believe that these tools will soon be a thing of the past. The dashboard might soon give way to conversational, automated, and mobile insights that anyone on an agency team can access and tailor to their needs.
https://youtube.com/watch?v=Pc2XDaeKEqM
Tal Dilian’s ambition of protecting civilians
One of the methods used by Intellexa is to integrate 1st and 3rd party data in a way that is understandable to an organization. Due to the technology’s unique approach, the data is digestible, and patterns are easy to identify.
Intellexa’s methods streamline the process for law enforcement agencies by suggesting similarities and associations between suspects. Then, by proposing hypotheses, decision-makers can move on with their investigations. Law enforcement agencies get insights into criminal actions, including association with other threat actors and plans of future crimes.
The desire to protect the lives of innocent civilians is what prompted Tal Dilian to establish Intellexa and provide law enforcement agencies with a new and advanced component to their investigations.
Like the data optimization trends for 2021 prescribe, Intellexa picks its clients carefully to make sure that the data gathered remains in the right hands and is analyzed with the most advanced and up-to-date methods.
This strategy minimizes human errors and helps law enforcement agencies develop extensive plans of action.
Intellexa improves efficiency by up to 200%
Sophisticated semantic connections and innovative technologies enable Intellexa’s data intelligence and insights.
“It fuses big data resources to put together a complete picture, to make sense of shattered pieces of information by analyzing it and providing an insightful report while minimizing human error by using AI,” Dilian explains.
“Having an almost fully automated system saves time and ensures success, improving our clients’ workflow and efficiency by up to 200%,” he says.
Until just a few years ago, law enforcement agencies extracted vast amounts of data from their archives of DNA samples, evidence, interrogation reports, geospatial monitoring, temporal analysis, and much more. However, doing it all manually was time-consuming and inefficient.
In the end, this slow method stole valuable time from investigators, and crucial information could be overlooked.
With Intellexa’s system, the process is automated, providing law enforcement agencies with the overview and time they lacked in the past.
In addition to this significant upscale efficiency, Intellexa provides additional layers of improvements that can enrich the information with geodemographic and behavioral analyses.
As a result, LEAs and intelligence agencies can maintain that crucial edge in providing digital and physical security to civilians.
Intellexa is a sponsor and will exhibit at the upcoming ISS World Europe convention in Prague to be held December 7-9, 2021.
ISS World Programs present the methodologies and tools for Law Enforcement, Public Safety, Government and Private Sector Intelligence Communities in the fight against drug trafficking, cyber money laundering, human trafficking, terrorism and other criminal activities conducted over today’s telecommunications network, the Internet and Social Media.
How to make a start at stock trading? Most beginners know that the first step is to study the theoretical basics. But how to receive practical experience at minimum risk? We offer you to try a stock market simulator app. For your convenience, we provide a short guide and a top list of such services.
Let us determine what a stock market simulator is. In fact, it is an application or a platform that mimics the current conditions on the real stock market and allows one to make trades. But a trader does not invest any real money. Instead, he is provided with a fixed sum of virtual money (as a rule, it is rather hefty). He can open and close any kind of position, utilize any trading strategies and instruments, and see the results. The point is that he does not put any real funds at risk, so he gets practical skills without the risk of real losses. It is absolutely safe and free of charge (in most cases). You may have heard of such training platforms under such terms as demo accounts or paper trading services. This feature is offered by almost every online broker.
Now, before we tell you about the best stock market simulator services on the market, we would like to mention the major reasons to try such a tool:
1. You will get acquainted with the functionality of the broker chosen.
2. If you spend at least a few weeks on such training, you will get a pretty clear idea of how the stock market works, moves, and develops over time.
3. You will feel more confident as you will obtain experience in conditions that are very close to real ones.
4. You will be focused on trading itself without unnecessary nerves.
5. Again, no real risks and losses are involved.
6. Even when you move to trading for real, you can keep such a trading account and use it to test new strategies and methods.
So, which platform to turn to. In practice, there is no big difference between simulators offered by different brokers. Hence, we recommend you choose the platform, which you plan to use for real trading in the future. That will allow you to familiarize yourself with its functionality and policy before making any deposits. If you are interested in US stocks mainly, we recommend you start your search from Webull, options ― eOption, futures ― TradeStation, advanced functionality ― TD Ameritrade. And, in case you are an international user, have a look at Interactive Brokers.
In sum, using such a simulator is the best option for those beginners who want to get practical experience without real risks. So, be sure to get such an account right away.
How to earn decent profits from options trading if you do not have much experience? Luckily, today, you have access to diversified instruments that can help you in such situations. And one of them is subscribing to option alerts. If you haven’t used it yet, it is time to try.
First, we would like to explain what options alert services are. These are sources that provide signals on when and which order to open. As a rule, such forecasts are compiled by advanced traders, who base them on the current market situation, trends, news, charts, algorithms, and their personal experience. In addition, they offer other thematic content, like tips, ideas, or short guides.
When a trader subscribes to such a source, he starts getting the corresponding notifications to his mobile number, messenger, or email. The only step left is to follow the recommendations provided. No deep knowledge or experience is needed. Yet, one must take into account that there is a small risk that such prompts will turn out to be false ― even experts make mistakes sometimes. That is why it is crucial to find a service you can safely trust as every mistake will cost you money. Also, do not follow such tips blindly, do at least short research and analysis before executing a trade.
How to use such signals?
· Select a reliable option alert provider. We have compiled a list of popular and proven services for you: Optionsonar, The Trading Analyst, Sky View Trading, Market Chameleon, and Mindful Trader. Compare their terms of use, frequency of notifications, prices, and make a choice. Mind that they differ in focus a bit. For example, Sky View Trading is a universal choice for any trader regardless of his level, but Market Chameleon is more oriented towards advanced investors, and Mindful Trader is often recommended to those interested in swing trading.
· Subscribe to the service. If there is a free trial period, be sure to make use of it.
· Decide how you want to receive your signals. In some cases, you can receive messages to your email address or messenger. But you can also take advantage of passive copy trading. Then, your trading account will be linked to the alert provider and the system will execute orders in automated mode, according to the signals received. This feature is supported by many online brokers.
· Watch the alerts. Note that most of them are effective only within a short period.
In general, we must acknowledge that such option signal providers are a must-try for every trader. Still, before buying a subscription, it is better to have a very close look at the reviews left by other users on the Web and try a free period if it is available.
The way that you drive is one of the biggest factors in how much you are paying for your car or van insurance. The fewer accidents and moving violations you have will help reduce the premium you pay with each passing year. The best way to be a better driver is to incorporate some defensive driving techniques into your driving habits. Your good driving will then translate directly into lower insurance quotes which can be found here.
Defensive driving is a method of driving that helps you avoid accidents, even ones that aren’t your fault. When you take on these techniques, it also helps you stay focused and not end up causing an accident or even risk a moving violation. In this article, we will go over some of the steps to becoming a better driver through defensive driving habits.
Don’t drive distracted
Distracted driving comes in many forms and is one of the biggest contributing factors to an accident or moving violation. When you are doing anything while you are driving it takes attention away from what is happening around you. This distraction, even for a few seconds, can be the difference between an accident or not.
One of the most common distracted driving practices is texting while driving. It is a serious problem with how widespread it is and is contributing to an unsafe driving environment. To read and send a text can take your eyes off the road for five seconds or more. In this time, the car has traveled a considerable distance with a lot of possible problems occurring within that time.
Even eating while driving is a big problem. When your hands are not free, your reaction time to an event is dramatically reduced. If another car or person were to dart in front of you, the food in your hand and mouth would be enough to impact your ability to avoid the accident.
Take the time to pull over to read and send a text if it is important. If it isn’t then simply wait until you’ve reached your destination to do so. If you need to eat while driving on your morning commute, for example, then wake up 15 minutes earlier to eat before getting into the car.
Plan your route
Knowing what to expect when out on the road is a good way to avoid a bad time. Taking some time to get to know what is happening on your route will allow you to drive calmly and be ready to react to factors that you are expecting.
Take a few minutes to look online at the traffic and road construction reports for the route you plan to take. This will help you avoid a sticky situation that could cause you to react poorly since you aren’t expecting it otherwise.
Think ahead
Scan around the area while driving to get a sense of what is happening around you. Look ahead at the traffic flow to see if there are cars slowing down quickly. Or, if there are cars speeding toward an intersection. Seeing these things ahead of time allows you to react in time since you are already prepared to act.
Reaching that first step on the property ladder is something previous generations took for granted. It was once quite common for couples in their early twenties to purchase their first home with little effort but today, things are a lot different.
With property prices rising significantly more than inflation over the last 50 years and rental costs at an all-time high, it’s never been more difficult to save for a deposit on a home. But that’s not saying it’s impossible. With the right mindset and by following the tips below, you might just be able to save a deposit for your own little slice of heaven.
Reduce your renting costs
If your rental prices are keeping you from saving for a deposit, consider downsizing momentarily into a smaller flat. You could even look for house-sharing or cohabiting options or moving locations to a more affordable area. And then there’s always the option of moving back home with your parents to consider. If they charge reasonable rent, of course.
Cut your expenses
Budget your finances wisely and cut down on extravagances and treats as much as possible to deposit more in your savings. This also means biting the bullet and skipping elaborate holidays for a few years and maybe not going on as many nights out. Hard as it might be to hear, sacrifice may be the answer sometimes.
Explore buying alternatives
Look into buying schemes that help you get on the ladder with a lower deposit. For example, part buy, part rent schemes will allow you to own a share of your home without having to save up a massive deposit. There are other options too. For example, you could take advantage of saving schemes such as the Help-to-Buy ISA.
Get a second income
If your current income isn’t allowing you much room to save for your deposit, explore second income opportunities to give yourself more spending money. Commonly referred to as a “side hustle” in certain circles, second jobs are not looked down upon as much as they once were. Try to turn your hobby into a steady income or look at how much spare “stuff” you have lying around and sell it, perhaps for a tidy profit? The options are endless.
Ask others for help
If you haven’t asked your family for help, then you never know what sort of support they could give. They may simply have not thought to offer it – if you’re lucky, you might have a close relative with a bit of cash to lend you for your home deposit if you ask the right questions at the right time.
The 40-hour work week has always been trending in most of the workplaces for a long time. But, in the past decades, the world has changed a lot, especially after the spread of coronavirus, the working trends and norms have transformed. 40-hour work week is getting non-functional in most of the firms these days. But the question is, what will be the best replacement for this traditional working pattern?
Before searching for substitutes of 40-hour work week, have you ever thought about what a 40-hour work week model is? Why it is considered a standard for a professional since long ago? Where did this concept originate? What of its features is making it redundant in the firms now?
Let’s have a quick overview of the facts about 40-hour work week.
What is a 40-hour work week?
The 40-hour work week is measured as the standard amount of time an employee has to work for its corporation in a week.
Background of 40-hour work week
The 40-hour work week is fixed as a working standard for employees in 19th century.
In 1817, the labor unions united to demand reforms in employment conditions because people worked 80 to 100 hours per week for their organizations.
In 1866, the National Labor Union filed a petition to Congress for the eight-hours workday as a law. As the Congress didn’t agree for this law, it moved more people to support the labor reforms.
In 1869, President Ulysses S. announced an eight-hour workday for the government employees, which encouraged the private sector employees to demand the same rights.
In 1886, the Illinois Legislature passed a law for eight-hour workdays for this year only. But, a massive crowd of employees refused this law and held a strike in Chicago. A bomb exploded on this crowd, and 12 people were killed. It resulted in Haymarket Riot and is now observed as a public holiday for ‘May Day’ on 1st of May every year.
In 1926, Henry Ford introduced the 40-hour work week. After research, he concluded that working more than 40 hours per week has less impact on productivity.
In 1938, a revolutionary law was passed by Congress, known as the Fair Labor Standards Act, stating that all the employees who work for more than 44 hours will be paid overtime for their work. After two years, they amended the act to reduce the work week up to 40 hours.
In 1940, the 40-hour work week became a permanent part of U.S. law.
Productivity of 40-hour work week
The productivity of 40-hour work week model depends on an employee’s capabilities. Most companies standardize the 40-hour work week model as eight-hour workdays, five days per week for all the employees. But is this rule effective for each employee?
Each person has their way of working. Besides it, many other factors like a person’s life stressors, his skill level make it difficult to set the same productivity level for all employees. To know the effectiveness of a 40-hour work week, we must understand how an employee utilizes those eight hours per day in the workplace. Let’s have a rundown of some facts and figures on it.
According to a recent survey from AtTask, this is how the employees spend their eight-hour per day at work:
45% of the time is consumed in primary job duties.
40% of it is passed in meetings, administrative tasks and ‘other interruptions.’
14% of it is spent on E-mails.
Christopher Barnes, an associate professor at the University of Washington, says that an average worker is productive only for almost three hours a day.
A study of 2,000 full-time employees authenticates this research. It shows that out of 8 hours, i.e. 480 minutes of work, an employee is productive for less than half of this time for the office work, and the rest of the time is passed in following the activities.
60 to 65 minutes in reading news websites.
44 minutes on social media.
40 minutes in gossiping with coworkers.
26 minutes in searching a new job.
23 minutes for smoking breaks.
18 minutes on phone calls to friends or partners.
17 minutes while making hot drinks.
14 minutes in messaging.
8 minutes in snacking.
7 minutes on food preparation at the office.
These statistics show that most employees do not achieve 100% productivity in a 40- hour work week at their workplace. But, a few diversions help in the refreshing of mind, which increases an employee’s focus. The creativity level of employees is also enhanced by increasing the workplace wellbeing and making it a better place for employees to work.
Case study supporting 40 – hour work week strategy
A New Zealand based financial services company, Perpetual Guardians, claims a 20% improvement in their throughput after applying a 40 – hour work week. They said that more companies should stick to it to see a surprising increase in their company’s efficiency and staff and improvement in their wider community. After implementing the 40 – hour work week, the employees’ stress level is decreased by 7% and it also helped increase the employee well-being.
Another case study on an American company shows the following results for the productivity of 40-hour work week.
It shows that the company achieved its maximum throughput when the employees worked eight hours a day, five days per week.
Pros of 40- hour work week
It reduces the stress on an employee due to fixed working hours.
Reduction in work time contributes to higher productivity.
Employees will work in a more relaxed environment resulting in the timelier deliveries of the projects.
The commute cost is saved.
Cons of 40 – hour work week
The advent of technology is making this hour system non-functional for many industries.
These fixed short time slots lead to low-quality work when there is more work in a short span.
It discourages teamwork as each employee wants to work alone according to their comfort zone and does not want to work with coworkers.
As ladies are also into workplaces these days, so if both the partners are working according to 40 – hour work week, they may have less family time, leading to clashes in the relationships.
Alternatives to 40 hours work week
As virtual machines and technology have taken over the world, we should move on to a new and improved workplace strategy. Some of these strategies that can replace 40-hour work week are as follows:
· Flextime
It provides the employees with the option of designing their own work schedules, ensuring that they are present in the official meetings and activities.
· Telework
Telework is a better option for employees who don’t want to work a regular 40-hour week. It allows the employees to work one to five days a week from home or anywhere remotely.
· Compressed work week
A compressed work week consists of four ten-hour days instead of five eight-hour days. It benefits the employees to save one extra day from work. It also helps them to save income by lowering their commute costs.
· 32-hour work week
This strategy allows the employees to work for eight hours each day for four days a week while still having their full salaries. This approach accelerates business productivity while enhancing the employees’ competencies.
Conclusion
In the recent era, companies are experimenting with more standard workplace structures to increase the efficiency of their businesses. HR Consultancy firms suggest increasing employee engagement to improve organizational effectiveness, so it’s not just about being flexible in working hours. At the end of the day, it is all about aligning the values of the employees with the company’s needs and requirements.
Kazakhstan is still a relatively young country, about to celebrate 30 years of independence in December, but it has already established a successful innovation ecosystem with the support of government Ministries and often as a result of its First President’s initiatives. There is no doubt it has the advantage of learning from the best practice of other countries and when you visit its capital, Nur-Sultan, you soon become aware of the scale of its development and ambition for the future. It is most definitely a country that a UK start-up should have on its radar either as part of its international expansion plans or in terms of the interesting start-ups to be found. Here we take a look at some of the key players.
The Astana Hub which was launched by the First President in 2018 is the largest technopark for IT start-ups in Central Asia. Its aim is to develop a start-up culture, supporting high-tech projects to strengthen Kazakhstan’s economy. With various arms it includes a hub space as a corporate business incubator aimed at the development of IT projects.As of October 2021, Astana Hub includes 555 companies, 54 of which are foreign. The Astana Hub works and cooperates with local venture funds including QAZTECH Ventures, Quest Ventures, Most Ventures and Qazangels Business Angels Network. It also cooperates with international organisations including Rutec Ventures and Unbound Innovations both in the UK.
Another initiative of the First President is the Astana International Financial Centre (AIFC), which was launched in 2018, is the newest financial centre in the world and the only one in Central Asia. It has its own law, based on English law, and its own court and arbitrage. There are 1,000 companies registered at AIFC from more than 50 countries, including some from the UK, and its particular areas of interest are in Islamic finance, fintech and green finance. The AIFC Green Finance Centre was created to enable the development of green finance in Kazakhstan and Central Asia. Green finance refers to investments and other financial instruments such as green and social bonds, concessional lending and subsidies for green projects, which are aimed at delivering environmentally friendly, energy efficient and low carbon projects. As a regional think-tank, the AIFC Green Finance Centre also provides strategic and business consulting in green finance and sustainable development. It established the first Green Finance Awards in the region and the Green Finance team from AIFC recently held a COP26 event in Glasgow.
Also to be found within the AIFC family is the Tech Hub which helps brings new tech initiatives to Kazakhstan, soft lands them and then builds up new economy streams for the country by building the tech development stream and ecosystem to support these companies and “connecting the dots” with the different Ministries. There is currently a strong focus on b2b tech including fintech, such as Kaspi which is already known outside Kazakhstan, and b2gov or govtech companies.
Land-linked not land-locked
One of the attractions of Kazakhstan must surely be its country neighbours and location, which sees for example the Baikonur cosmodrome based in Southern Kazakhstan which is leased to Russia, and there is also a strong presence from Chinese banks as well as the EBRD and Eurasia Bank. President Shigeo Katsu of Nazarbayev University has a very good description of the country “not as land-locked but as land-linked”.
Without doubt, the University is one of the institutions turning out an educated graduate base to fill the growing employment opportunities in the country. Nazarbayev University which is also known for its Nazarbayev University Research and Innovtion System (NURIS) focused on high-tech business creation and includes an incubator and business accelerator, offering a 12 week programme and potential investment. Since 2016, the Cluster has supported 157 start-ups and provided $1m in grants. It has staged over 3,000 events, 80 hackathons and has future plans for an Astana Business Campus Science Park.
In summary, Kazakhstan is worth a look – perhaps precisely because it is not yet that well known outside Central Asia in terms of its start-up and entrepreneurial ecosystem. Air Astana, which is an extremely successful business with two shareholders the Government of the Republic of Kazakhstan and BAE Systems PLC operates direct flights from London, won the Skytrax Best Airline in Central Asia Award 2021 and flies to 45 domestic and international destinations. Peter Foster, Air Astana’s President describes Kazakhstan as “an emerging market with some challenges but it is open for business and very anglophile. You have to be all in in Kazakhstan otherwise you’re not in at all.”
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