Why Electronics and Technology Are Important

People today live in a world that relies greatly on electronics and gadgets to make our everyday activities easier and faster. Most of us could not fathom what life we be like without computers, cell phones, iPods, televisions, or electronic toys. Over the years, technology has continued to advance, improving the quality of life for people who use electronics and gadgets to make their lives more convenient.

When we wake up in the morning, we are often greeted by our alarm clocks. How many people would be late for work if they had to rely on their internal body clocks to wake them up at the same exact time every weekday morning? Once up and out of our bed some people may enjoy a cup of coffee or espresso from the convenience of their own kitchen coffee making appliance. Others may head to the bathroom to start getting ready for the day. This may include using a hair dryer or curlers to style their hair, or maybe an iron to de-wrinkle their clothes. All the while, people may be catching up on the day’s news by watching their local news station on television. All this use of technology and electronics and they haven’t even left for work yet!

The list goes on and on. The advancement of technology has allowed us to enjoy our favorite music while we exercise via the use of an MP3 player, warm our food in seconds with the convenience of microwaves, and even read our emails from anywhere in the world with the use of smart phones and laptops. This is just the tip of the iceberg. While most people understand that electronics and gadgets are important, they don’t take the time to really comprehend just how much we use this type of technology in all aspects of life. Certain electronics and equipment have made medical procedures easier, not to mention just plain possible. Life expectancies have increased with the advancement in technology and suffering has lessened due to the invention of medical equipment and technologies.

Whether it’s the coolest new GPS gadget to help you located and get to your favorite vacation destination along with every restaurant, store, and gas station in the area, or the newest sonar machine that can allow a doctor to see any possible development issues with a mother’s unborn baby, technology and electronics means more to us than we can realize. New products are developed every single day and the more people shop for fun gadgets and electronics, the easier and more fun life will become!

The Five Levels of Employee Motivation

Employee motivation can be quite a challenge. The decision on how committed an employee will be towards the organization, division or team, depends entirely on the individual. Therefore, the first step to employee motivation is to engage with each individual. Find out what makes him/her tick. The purpose of this article is to know what to look for when you engage with the individual.

Many leaders make the mistake of applying a single motivational strategy to all their employees. The fact of the matter is that different things might motivate different employees. So how do you find the right formula for each employee?

The Loyalty Institute at Aon Consulting did extensive research on employee commitment. They came up with the five drivers of employee motivation, also known as the performance pyramid.

It works a lot like Marslow’s Hierarchy of Needs where the first level of motivational needs first need be satisfied, before a need arise in the next level. It wasn’t intended that way. It just happened to work out like that.

The performance pyramid can provide some wonderful guidance to know what to look for when you engage with your employees. Let’s have a look at the five levels and see how it can help you to find ways to motivate employees.

Level 1: Safety and Security

Along with a physical sense of well-being, there must be a psychological belief that the environment is free of fear, intimidation or harassment.

Level 2: Rewards

Yes, you knew it. Most people won’t come to work tomorrow if they win a big lottery today. This is the perception that the organization attempts to satisfy the employee’s compensation and benefits needs.

Level 3: Affiliation

This is a sense of belonging. It includes being “in the know” and being part of the team. This is also where a difference in personal and organizational values can have a big impact on motivation.

Level 4: Growth

Employees want to have the belief that achievement is taking place. I might feel safe, get all the money I want and feel part of the team. But if there are no growth opportunities, I might think about leaving the company.

Level 5: Work/Life Harmony

This term speaks for itself. Someone might have all the rewards that he/she wants, but he/she will burn out sooner or later if they don’t have the time to spend it on the other things they want.

What Should You Do With These Drivers Of Employee Motivation?

While all five levels are important, the key is to pinpoint where the individuals and the workforce are not having their needs met. Start by offering a safe, secure work environment and equitable compensation and benefits packages. This is the foundation. However, before you launch those new and trendy benefits, engage with each individual and take a good, hard look at the basics. The young smart upstart employee might not be as exited about that benefits program. His needs might be to use that money to buy a new sport scar. The opposite might be true for the 40 something baby boomer.

Some other pointers to keep in mind:

  • Be aware of the five levels of employee motivation when you engage with your employees.
  • Make your own assessment of what the needs of each individual are.
  • Engage with each individual. Explain the different levels and ask them where they find themselves on the pyramid. What are his/her biggest needs?
  • Engage with bigger teams and eventually with the whole organization about these levels of employee motivation.
  • Do something about it. If someone wants growth, give it to him or her. If they want work/life harmony, make a plan. And Ditto for the rest of the drivers.

How To Read A Credit Card Merchant Statement – 5 Ways To Categorize Fees

Reading your merchant statement and finding the rates and fees you’re being charged can be like playing “Where’s Waldo?”. One reason is because there are nearly as many different statement formats as there are merchant acquiring companies. Also, because of how competitive the industry has become, many monthly statements don’t completely disclose the rates being charged. And sometimes they are completely hidden.

I know of banks that don’t even send a statement out. If a merchant wants details of what they paid they have to logon to an online account to find it.

It’s War Out There!

One reason for this is the competitiveness. You have to remember that credit and debit cards make up part of a 2 trillion dollar industry. Money is like a magnet – it attracts Most merchants are being contacted continually by competing processors trying to get them to switch processors, by promising “lower rates”, etc.

So, to prevent a sales agent from another processing company from taking a merchant away – some processors make it as hard as possible for a competitor’s sales rep to walk in to a business, analyze a merchant statement, and do an ‘apples for apples’ comparison.

That being said, there are still some basic keys to look for when reading your statement. Here’s what I look for in analyzing a merchant statement, in order:

  • One: The pricing structure – how has the account been set up? Which pricing model does it employ? Is it using tiers (e.g. 3-tier; 4-tier, etc.) or – is it using “Interchange Plus”? (NOTE: most merchants are on a tier pricing model, which, in my opinion guarantees they’re being overcharged. Also, there are other pricing structures but tier pricing is by far the most common)
  • Two: The monthly fees (sometimes called “Other”) – next, I look to see what the monthly fees are. This can include: a statement fee; monthly service fee; account maintenance fee (normally, you’d only see one of these although I’ve seen two – or, you may see the equivalent fee but using a different term); PCI fee; batch fee; and gateway or access fees. Any miscellaneous, but not monthly fees can also show up here – e.g., an annual fee or semi-quarterly.
  • Three: Processing Fees – this is where the discount rates will be listed. If you are on tier pricing the best statements will print an itemized list showing the “qualified”, “mid-qualified”, and “non-qualified” (the 3 tiers) rate. If you are on Interchange Plus, you’ll see a list showing all the different cards you took, followed by the actual interchange rate for the card, the “dpi” (discount per item), plus the processors mark-up expressed as basis points and a transaction fee (or per item, depending on the term used to list it).
  • Four: Authorization Fees – here’s where you’ll find fees that go to VISA and MC. They’ll show up listed as access, authorization, and /or WATTS fees. You could also find here AVS fees (address verification); assessment fees; brand usage fee; risk fee; settlement fees, IAS fee (Issuer Access & Settlement).
  • Five: Third Party Fees – 3rd parties means networks other than VISA & MC that are included in your statement. This would include American Express, Discover, and the debit networks if you are using pin debit

Part of the problem in reading a merchant statement is different processors use different category names and different terms to identify charges. That’s why I began by saying it can be like playing “Where’s Waldo?” While there are common terms used for certain fees there is also a wide variation used, depending on the acquirer (the company you signed a merchant agreement with).

Again, part of this is due to an attempt to hide what’s being charged and make it difficult for a competitor to analyze a statement. While that’s ‘somewhat’ understandable – in my opinion it’s a disservice to the merchant. Integrity demands transparency. Maybe if processors were more merchant oriented they’d have a lower turnover and would not have to worry about competition so much. At least that’s my opinion.

6 Important Aspects of E-Commerce Websites

Web development is an intricate process as there are multiple aspects to keep in mind. There are several things to consider like appealing design, user-experience, performance and easy navigation. E-commerce website development is a challenging process. Discussed here are certain important qualities that every e-commerce site should have.

Responsive Design:

Smart phone users are growing constantly. Most of the people prefer to shop online. It is due to this reason that a virtual shop should be responsive. It should be able to adapt itself as per the screen of the gadget in which it is accessed. Right from the basic navigation to checkout and payment, every platform of e-shop should be made available to the mobile phone users so that people on the move can buy.

Should Support Guest Checkouts:

The users should be able to create an account to book orders and purchase. A follow up communication often leads to future sales and hence this aspect of e-commerce website is important. Notifications for the upcoming items lead to the sales and hence a virtual shop should have this feature.

Site Search Feature Must be There:

30 % of the customers visit e-commerce sites to search for the products. It is important to ensure that the search functionality should be there in the site. Auto complete features help the users to find their popular products. Also, the visitors should be able to narrow their search in several ways.

Security is Important:

All the e-commerce website should support SSL to encrypt the information requires to remain secure. This is so because the payments are done through credit cards and the bank details are furnished. If your site is not secured, customers will not purchase from you.

Should Contain Multiple Modes of Payments:

People like to pay as per their convenience. It is due to this reason that ever e-commerce website should have multiple modes of payments including the most commonly used Cash-on-Delivery method. Most of the customers run away from the sites that do not have COD payment mode.

Should be Well-Optimised:

With an increasing competition for selling products and services online, there are more people than ever that are in the race. If you cannot be found easily on the search engines, you will be at a loss. An e-commerce website should be well-optimised and easily found. A majority of people leave your website if it does not load easily.

These are a few important features that an e-commerce website should have. If you want to have a roaring online business, you need to hire a reputed and reliable website development company that can take care of all the important aspects.