Sunday, March 26, 2017

How to Improve Employees Loyalty?

I always hear a lot of bosses complaining about their staff, in terms of performance, quality and loyalty.

Among all, perhaps employers would like to pay high attention to high performance staffs’ loyalty. As they may able to churn out infinite values to the company. If they are not taken care properly, they may either jump to competitor or come out at their own to seek for better return.

I have come across a magazine’s article about 3 simple ways on how to improve the royalty of the employees, to let them fight for you.

1.       Reward Adequately
I did see some stingy and generous bosses. But please don’t get me wrong. Some bosses have their own ways to reward their staffs, but they are pretty stingy when come to operating and personal expenses. If the staff achieve what they want, please do reward adequately. With great reward, they will know how to achieve out of their best. Else, who want to fight hard for you without it?

2.       Empowerment
Avoid micro management. Once you empowered your trusted employee to execute the goal, he / she should have full authorization. Do not overwrite them unless they are misaligned with the goal. If you feel uncomfortable, do ask them to provide weekly report or have weekly meeting to discuss the progress.
3.       Prioritization

Human makes mistakes, so do your trusted staffs when they execute the company’s goal. Do prioritize the goal and embrace their mistakes. Discipline is important. But sometimes because of pursuing company’s goal, it is unavoidable to break the rule to get the best out of it.

4.       Encouragement
The boss would need to consistently encourage and make sure the staff are progressing. The history shows that they can execute the company goal better if there’s positive courage from the superior. A simple conversation of the day perhaps will makes his / her day.


Have fun being a management.

Saturday, March 18, 2017

Discovering of Value Added Employee

I went to a famous old time coffee shop for tea break while waiting for cash wash this evening.

I guess this coffee shop has about minimum 20 to 30 foreign waitors and they are required to wear uniform during working. One of them somehow in casual wear and I found out he is actually on leave today.

What surprised me is that, he served the customers whenever available, while spending his free time to sit down to talk to customer, go out direct car traffics, and walk around. Is this what we called value added employee?


Perhaps he has nothing to do during that period, but he still help the boss to serve the customers during his leave. There's definitely no extra pay for that. How many of us willing to do so? Is it what we called value added employee?

I believe most of the bosses would like this kind of employee. Not only because the extra hard works, but it is more like contributing as one of the family members, trying to help whenever possible. 

If this kind of spirit exists in a company, I strongly believe the company can do better than others, have the bigger possibility to attract more customers and obtain more revenues, and eventually, the boss can distribute bigger bonuses to the employees under normal circumstances.

Sunday, March 12, 2017

Generate Cash Flow from Property Rental

With the drastic hike of property prices for the past 8 years with the economy recession over the past 1 year, most of property investors facing great challenges on generating positive cash flow from their existing residential property. For rental supporter like me, I think most of our objective is the same and simple, we just want to fully cover our monthly mortgage using our rental income. But how?

I noticed there's a guru discussed about this topic in Facebook, and I thought of discuss about this topic today. I have some thoughts about it last night, perhaps I'm not an innovative person, I have not much ideas about it. Nonetheless, below are the 5 common ideas that I noticed they are in practice nowadays.

1) Homestay
Convert your residential unit into homestay and promote it under homestay app i.e. Airbnb, instead of monthly rental. This can generate huge positive cash flow compared to monthly rental income. It's tax free some more! However, this is suitable only for tourist hotspot, CBD or city center.


2) Turn into Many Rooms
If your residential unit is located at CBD or city center, perhaps you can partition your unit into as many rooms as possible, and rent it per room basis. This also can then turn to homestay if you want to. If it's condo, you may need to check with the building management if you are allow to do so.

3) Dual Keys Condo Unit
If your unit is dual keys unit, you are able to split the unit into 2 tenants or more. Hence, generate more rental income for your unit.

4) Target Niche Tenant
Some affordable tenants favor certain interior design, setup, lifestyle and property type. Target them and then renovate towards what they are looking for. Of course the risk is higher, but potential return is there.

5) Leverage on Agent
Look for a outstanding agent, get their advice and pay extraordinary commission to them to get what you want. Perhaps this is the better way if 1-4 are no suit for you.


There should be more creative and innovative ideas out there. All the best, property investors!
 
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