PAYROLL ACCOUTING

What is Payroll Accounting?

Payroll accounting is a method used to calculate aggregate expenditure on wages and salaries of employees incurred by a business in an accounting period. This method of accounting for payroll includes the company’s recording of its employees’ gross wages, salaries, bonuses, commissions and other benefits as well. Payroll accounting distinguishes between employee taxes which are deducted from employees pay and employer taxes which are paid by employers. This accounting also keeps records of employer’s fringe benefits such as health insurance, vacations, paid holidays, workers compensation insurance as well as pension and savings. Payroll not only is responsible for employee’s salary compensation but also plays a vital role in protecting the company’s reputation.

Payroll Accounting Procedure

Payroll accounting helps businesses to ensure that their employees’ receive their pay on time. Here is the procedure on how this is carried out by a business:

TIME REPORTING

There are many tasks involved in payroll accounting but the first task is to collect necessary data regarding the time worked by an employee on a daily, weekly and monthly basis. Companies must issue time cards to every individual to record exact working hours of that employee. This helps the accountant to measure the pay of the employee accurately. The task of time reporting also helps a business to curb payroll tax burdens and workers compensation premiums.

PAY COMPUTATION

As payroll accounting is done to calculate the compensation owned to each employee. By knowing the hours worked by an employee and multiplying it with the pay rate, it becomes much easier to calculate the pay of that particular employee. Also review your pay policies and procedure to look for inefficient workflow patter. Changes regarding salary structure and pay grade will be initiated in case of promotion of a worker.

TAX COMPUTATION

Employees must submit payroll tax as well as income tax to its employer so that they fill and submit it to the tax authorities. The accountants hired by a business calculates the exact amount of income tax owned by every employee after the gross compensation owned. Then the total tax collected will be given to the Internal Revenue Service so that there is no tax burden on the business.

OTHER BENEFITS

Many businesses provide their employees with certain benefits such as paid vacations, pensions and many more such things. These things make it more difficult for the company accountant to calculate the payroll amount as most of them get paid for holidays also. Any other contributions offered by the employer must also be done in payroll accounting.

PAY DISTRIBUTION

After every task has been completed, that is, working hours of every employee has been recorded with their income and payroll tax been given to the tax authorities. The net pay is given to every worker in the form of cheques, direct deposit into their accounts or through cash.

IMPORTANCE OF PAYROLL ACCOUNTING

MORALE OF EMPLOYEES

Payroll accounting impacts the morale of the employee as they need to feel assured that they will get paid on a timely basis. When the pay is on time then the employee will be motivated to work more efficiently to get bonuses with their pay but if the pay is late then the employee will feel that the company is not financially stable. This will result in bad performance of employees in q business, so the organisation must keep in mind the importance of its employees.

COMPANY’S REPUTATION

The business must see to it that the payroll activities followed by them are adhering to the tax policies and also complying with employment legislations. The business will uphold its reputation only when they are efficient in meeting tax obligations on time. This will attract more worker in the market to work in the business as the business will provide timely pays to them.

RE-ALLOCATION OF RESOURCES

Payroll accounting has to be performed regularly to ensure more precise payroll calculations. Payroll can be very time consuming, so it needs more resources to work with and regular activities help the business to know the required resources. As payroll is now automated, it allows organisations to save on costs in the long run. Furthermore, it frees up valuable resources for the organisation to focus on other business activities.

It is advised for any new business that they should take help from a financial consultant as there are many laws regarding payroll accounting. This will help them to stay out of trouble and also to devote their time on something else. An efficient payroll department reflects the organisation’s way of working and how they respect their workforce.

Checkout our Payroll Management Services to know more about the Payroll Management. You can also connect to us through mail or form incase of further queries.

For more information on Payroll Accounting, feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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8 Tips to retain the best of your employees

In any business, big or small, one of the major tasks is to retain the best and most skilled employees. There’re a lot of things a person must keep in mind, when handling employees. For a long term stay in an organisation, any employee would have certain expectations from the organisation. Let us check the,

8 tips on how to retain the best of your employees

Gapeseed Consulting emphasizes on Employee Motivation, Engagement and Appreciation as the prime factor in retaining an organisational culture. Any culture is defined by the people, the employees and the teams. And to turn people into employees and then team, you need to create a culture and the following tips shall help:

• Reward, Recognition and Appreciation

If an employee works up to the standard, or does something out of the box for organizational benefit, he / she in return expects and deserves appreciation. This appreciation could be done in the form of rewards, like increments, trophies, bonus, monetary awards, additional perks. The employee should get due recognition for the hard work and dedication.

• Equitable treatment

Every employee, working on the same level, putting the same amount of effort deserves equal opportunities and equal treatment. For example, if in an organisation, ‘A’ is paid more than ‘B’, working on the same level because he’s connected to the senior, it will automatically pull B’s morale down. If there’s any discrimination against an employee, he would probably start finding other opportunities for growth.

• Proper Supervision

People leave managers and supervisors more often than they leave companies or jobs. The expectations for employees should be well defined to prevent confusions and agony in the future.
There should be clarity about expectations,earning potential,feedback about performance, scheduled meetings.

• Freedom of expression

Any employee wouldn’t want to leave an organization where he is free to express his thoughts and ideas, sometimes employees can come up with brilliant strategies and ideas and when they are left unheard or ignored, it lowers the employees morale. Their expression can prove to be very beneficial.

• Don’t threaten employees’ job or income

A threat to an employee’s job or income makes him feel as if he needs to search for a new platform to exploit his potential. Under any circumstances, this shouldn’t be done to the hardworking and dedicated employees.

• Clean out the dead weight

This sounds tough, but works for an organization’s benefit. There may be people in the organisation who hold other employees back in certain ways like negativity, unethical work, politics, gossips etc. Great people need to work with other great people. Do the hard work of removing those who slow everyone else and the organisation down.

• Friendly Competition

Employees can be put into friendly competition; this could be done by building teams and framing equal time spans for completion of certain tasks. These tasks could fetch the employees awards in form of monetary rewards, trophies etc. Such competitions, help employees work harder to increase their potential and opportunities.

• Above market Standard Rate

When some employees work beyond their boundaries, beyond their comfort for the benefit of the firm, they deserve more than the rate established by the market. This doesn’t imply that they need to be given sky high salaries, somewhere 20%-30% above the standard rate for the job so that they value doing it in the firm.

The above are 8 tips to retain the best of your employees, the same can be picked individually or one at a time. The idea is to make stronger and more approachable workplaces by creating an appropriate environment. You can connect with Gapeseed Consulting for processes or interim HR services through consultants to create HR Systems and align them with your organisational goals.

Feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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Importance of Accounting for Startups

Significance of Accounting for Startups

Accounting must be given prime importance in any business entity as it is most required, especially for controlling and for providing financial reports at the end of the year. Accounting will help a Startup to determine its productivity and its profit from the initial stages of the company. This provides entrepreneurs a method for maintaining accounting information. The accountant hired by the company will keep track of the money spent for business use as well as for personal use, this will help in strategizing on how the money can be saved. In the initial stages of a Startup, the company must hire consultants or interim CFOs to maintain simple accounts rather than spending more on in-house professional resource.

Benefits of Accounting for Startups in Initial Stage

Forecasting Financial Estimates

Every Startup needs to provide information regarding its financial estimates to banks, investors or lenders to obtain funds in return from them. Accounting helps the business to make a business plan which includes estimated monthly expenditure, economic forecast, projected rate of growth of the Startup. This information is really important for a Startup to lure more and more investors to invest in their idea. The investors also ensure that the entrepreneur has a reliable projection of its company’s financial expectations.

Determine Profitability

Accounting helps an entrepreneur to determine its profitability in the future. It helps in monitoring the progress of the company and also to make necessary amendments where necessary. Through accounting, entrepreneurs will get to know where they need to use their assets to generate profit. An entrepreneur also needs to provide financial information to its investors to ensure them that they will be paid in a timely manner. A monthly statement such as a balance sheet and an income statement shows how if a business is blooming or not, these statements helps in determining a business general profitability.

Budget Expenses

Accounting helps an entrepreneur in setting up a Budget for expenditure on various aspects affecting a Startup. Accounting helps in maintaining records of the cashflow in the business, capital is used in hiring of employees, advertising, purchasing of inventory, petty items. Budget helps an entrepreneur is reducing expenditure on not so essential items and by saving the capital for future purposes.

Payroll Accounting

Accounting for startups help an entrepreneur to record its employees’ compensation such as salaries, bonuses, commissions and any other means earned by an employee. It also maintains employees’ portion of Health insurance premium, Social security taxes, paid holidays. This creates a database for the company consisting of all of its employees. Entrepreneurs must consult accounting professionals during the incorporation of its business. This is a must for an entrepreneur as outsourcing will help a company to grow much faster with the help of a trained professional. Outsourcing helps in many ways such as:

Tax Specialization

Taxation is a main aspect where a Startup may face some difficulties beyond the areas of fund raising and finance. This is where trained professionals like Chartered Accountants play a crucial role in the growth of the Startup. A trained professional who knows the tax laws whether it may be direct tax, indirect tax or any other tax involved will smoothen the working of the business. Well managed and transparent taxation is one of the most required aspect in Accounting for Startups.

Focus on Business

An accountant helps an entrepreneur by letting them focus on their product rather than worrying about the finance. The entrepreneur can create partnerships, create relationships, market its product with the help of an accountant. It will provide valuable information to the business to make it grow and earn profits. An accountant will also help in covering the cost as well as reducing the expenses incurred by the company.

Secretarial Duties

A professional accountant can also perform duties of a company secretary as they are specialist in company law. They also see to it that the company is complying and adhering to the laws laid by the Company Act, 2013. Start-ups strictly need to follow these rules from the start as it may result in the dissolution of the company.

Valuable Business Partner

Outsourcing accounting gives a huge importance to start-ups as these outsourcing firms have wide range of expertise working under them. This support from such firms will be very valuable for the Startup as it has a lot more experience when it comes to raising funds, financial planning, financial reporting. It is better to get financial assistance from trained professionals at the early stages of a Startup as it makes the business develop and grow faster. Many entrepreneurs lack accounting skills and tend to make wrong decisions regarding accounting which acts as a negative aspect in accounting for startups.

For more information on Importance of Accounting for Startups, feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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Private Limited Company and its Incorporation

WHAT IS A PRIVATE LIMITED COMPANY?

A private limited company is a type of privately held business entity registered under the Companies Act, 2013. In this type of business entity, the owners are liable to their shares. Private companies issue stock and have shareholders, they cannot trade on public exchanges and shares are not issued through an initial public offering (IPO). A private limited company must have at least one shareholder and can have a maximum of fifty shareholders. This makes the entity to stand between partnership and a public company. It is widely acceptable among entrepreneurs as it is more convenient to start a Private Limited Company.

INCORPORATION OF A PRIVATE LIMITED COMPANY

A Private Limited Company can be incorporated as per the procedure explained below :

Director Identification Number (DIN) & Digital Signature Certificate (DSC)

A person intending to become a director of a company requires a unique identification number which is issued by the Ministry of Corporate Affairs. This number then is used to record the details of the director of the company. The Digital Signature Certificate is the digitalised version of all the paper certificates. This certificate can be used to prove the director’s identity, access information and sign documents digitally. Certain documents are required for DIR-3 application:

Identity Proof: A copy of PAN card is mandatory whereas a copy of the Driver’s license is optional.
Address Proof: A copy of the Passport / Election ID / AADHAR card / Driver’s License is sufficient.
Passport Size photo
Mobile Number
Education Qualification
Verification signed by the applicant.

Company Name Availability

The name of the company must not be pre-existing, applicants must first search for any existing Trademark and then decide on the company’s name. The Promoters of the company have to provide at least 6 names in the order of their preference to the Registrar of Companies for name availability.

Memorandum of Association (MOA) & Articles of Association (AOA)

When the name of the company has been approved by the Registrar of Companies then the Subscribers have to draft a MOA & AOA specifying their Names, Address, Occupation and the sign the subscription pages of the Memorandum and Articles of Association formed.

The Memorandum of Association is a document regarding the main objectives as well as the secondary objectives of a company. It covers all the necessary fundamental provisions of the company’s constitution.

Articles of Association is a contract based on mutual understanding between the company and its members defining their rights and duties.

Filing E-Forms with Registrar of Companies

After the drafting of Memorandum of Association and Articles of Association, an application has to be sent to the Registrar of Companies regarding the incorporation of the company. This Application must contain all the necessary documents of the Company and its Directors.

Verification of Documents

The company must pay the desired fees to the Registrar of Companies and must get Stamp Duty to get the documents verified.

Issue of Certificate of Incorporation

When all the documents are verified and duly approved by the Registrar of Companies, a digitalised ‘Certificate of Incorporation’ is mailed to the Directors of the company. Once the Incorporation Certificate is received , company can start with its operations .

ADVANTAGES OF A PRIVATE LIMITED COMPANY

Separate Legal Entity

A company is a legal entity and a juristic person under the law. The members (Shareholders/Directors) of a company have no liability to the creditors of the company. This form of organisation has wide legal capacity, acquire and hold property and also incur debts in its own name. As a juristic person, a company can sue in its own name and can be sued by others. A company’s common seal is considered as its signature but is not mandatory.

Limited Liability

Limited liability means the status of being legally responsible only to a limited amount of debts of a company. A company is a separate legal entity from its members. The liability for repayment of debts incurred by the company lies on the company itself and not on the owner. Unlike other business entities the liability of the members in respect of the company’s debts is limited.

Uninterrupted Existence

A private limited company has perpetual succession. A perpetual succession means the company has uninterrupted existence until it is legally dissolved or voluntarily. A company, being a separate legal person will continue to exist even if a member dies or ceases irrespective of the changes in the membership.

Easy Transferability

Shares of a Private Limited company which is limited by the number of shares can be transferred by a shareholder to any other person. The shares and other interest of any member in the company is dealt as a movable property and can be transferred in the manner provided by the Company. Shares can be transferred by filing and signing a share transfer form and handing it over to the buyer of the shares along with the share certificate. It is easier for a member to leave the membership of the company and also to transfer its share of ownership.

Owning Property

A company as a legal entity is capable of owning its funds and properties. No shareholder can make any claim upon the property of the company as the owner of the company and the company itself are two separate entities.

If you are looking for incorporating a private limited company or still perplexed as to what is most appropriate for your kind of business, feel free to get in touch with us. You can visit us for consultation and speak to our CS to ascertain the right direction.

For more information on Incorporation of a Private LTD company , feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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Tax Reforms – Budget 2017

As the Finance Minister of India , Mr. Arun Jaitley, got up to deliver the Union Budget for the Financial Year 2017-2018, every Business Man in the country was waiting for the Tax Reforms. The Direct Tax Reforms given in the budget dated 1^st Feb’2017 will be applicable in the F.Y. 2017-18 or A.Y 2018-19. Some crucial and evident changes have been made by the Government for the Small and Medium Scale Business in the budget.

As per the Narendra Modi Government, the Tax Revenue of the central Government from Direct Tax Collection has gone up by 17% in F.Y. 2015-16 as compared to F.Y. 2014-15, and the rate of growth in advance tax in personal income tax domains for the F.Y. 2016-17 has increased by 34.81% till 20^th Jan’2017 as compared to F.Y 2015-16.

We have decoded the key changes proposed in the Union Budget announced by the Finance Minister on February 1, 2017.

Tax slabs

It has been proposed to reduce the tax rate for taxable income less than Rs 500,000 from current 10% to 5% benefiting Individuals (resident/ non-resident) below the age of 60 years and Individuals (resident/ non-resident) above the age of 60 years and below the age of 80 years.

Rebate under section 87A

Rebate under section 87A of the Income-tax Act, 1961 (“the Act”) is proposed to be reduced from Rs 5,000 to Rs 2,500. It has also been proposed to restrict such rebate to resident individuals whose total income does not exceed Rs 350,000 (earlier Rs 500,000). Considering the above amendments, the net benefit arising to an individual with taxable income of Rs 350,000 and Rs 500,000 is Rs 2,575 and Rs 7,725 respectively.

Partial exemption for pension

The existing provision of section 10(12A) of the Act provides that payment from National Pension System (“NPS”) trust to an employee on closure of his account or opting out shall be exempt up to 40% of total amount payable to him. In order to provide relief to an employee who is a subscriber of NPS, it is proposed to provide exemption for partial withdrawal not exceeding 25% of the contribution made by an employee in accordance with the terms and conditions specified under Pension Fund Regulatory and Development Authority Act, 2013 and regulations made thereunder.

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Rationalization of deduction under section 80CCD for self-employed individual

In order to bring about parity between an individual who is an employee and an individual who is self-employed, it is proposed to amend section 80CCD of the Act so as to increase the upper limit of 10% of Gross Total Income (“GTI”) to 20% in case of individual who is self-employed. Accordingly, for a self-employed individual, contributions to NPS to the extent of 20 percent of his/ her GTI will now be allowed.

Withholding tax obligation for individual not liable to tax audit

As per the existing provision of the Act, withholding tax obligation on rent payments arises only in case of individuals or HUF who are liable to tax audit. It is proposed that individual or HUF not liable for tax audit will now be required to withhold tax at the rate of 5%, if the rent exceeds Rs 50,000 per month or part of month on payment of rent.

Also Tax deduction and collection Account Number (“TAN”) will not be required to be obtained.
Further, tax would be required to be withheld only once during the previous year in the last installment payable for the year.

In addition to the above, it is proposed that under section 206AA of the Act, maximum deduction shall not exceed the rent payable for the last month of the previous year/ last month of tenancy.

Shifting base year from 1981 to 2001 for computation of capital gains:

Existing provisions gave the assesse an option to consider Fair Market Value (“FMV”) as on April 1, 1981 for capital assets acquired before the said date. It has been proposed to shift the base to April 1, 2001. Accordingly assesses have an option to consider cost or FMV as on April 1, 2001 as their cost in respect of assets acquired on or before April 1, 2001.

Further, for the purpose of computing indexed cost of acquisition, 2001 shall be considered as the base year.

Reduction of holding period for computation of capital gains for immovable property:

It is proposed to amend section 2(42A) of the Act to reduce the holding period from existing 36 months to 24 months in case of immovable property being land and building or both to quality as long term capital asset.

Expansion of scope of long term bonds under section 54EC

It is proposed to provide exemption under section 54EC of the Act on investment of long term capital gains in any bond redeemable after three years that shall be notified by the central government. This will be in addition to investments in NHAI bonds and RECL bonds where exemption was allowed on investment up to Rs 5,000,000.

Measures for promoting digital payments in case of presumptive business income cases

In order to promote digital transactions and to encourage small unorganized business to accept digital payments, it is proposed to amend section 44AD of the Act to reduce the existing rate of deemed total income of 8% to 6% in respect of turnover or gross receipts received by an account payee cheque or account payee bank draft or use of electronic clearing system through a bank account during the previous year or before the due date specified in sub-section (1) of section 139 in respect of that previous year. However, the existing rate of deemed profit of 8% referred to in section 44AD of the Act, shall continue to apply in respect of total turnover or gross receipts received in any other mode.

For more information on Tax Reforms, feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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One Person Company and its Incorporation

ONE PERSON COMPANY

One Person Company (OPC) is a form of business entity that is owned and managed by a single entrepreneur. This concept was introduced in India through the Companies Act, 2013 supporting entrepreneurs who are capable of starting a venture by creating a single person economic entity. A One Person Company is also a separate legal entity from its members just like a Private Limited Company or a Limited Liability Company. In this type of business entity, only one person is required who can be the Director and as well as the shareholder of the company. This venture of One Person Company is still in its emerging stages which makes it much more difficult for entrepreneurs to adopt, it is mainly suitable for people starting an unregistered Proprietorship. The entrepreneur can set up their company without sharing their profits as One Person Company does not need a middleman to target the markets.

Features of One Person Company (OPC)

One Shareholder

One Person Company is a business entity which is owned and managed by a single person. The Company Incorporation Rule states that only a resident and also a citizen of India can form a One Person Company. The entrepreneur hold all the shares of the company as it has only one member. The people who are Foreign citizens and are Non-Resident citizens cannot indulge in the formation of a One Person Company. A shareholder can only have shares in a single One Person Company and not in various companies.

Director

A One Person Company can be managed by a Single Person. In this type of business entity, the Sole Shareholder can become the Sole Director of the business. A One Person Company can have a maximum number of 15 directors even if it may be having a Sole Shareholder.

Nominee

This states that the Shareholder of the company has to nominate a person who in the event of death or inability to continue the work in the company will come forward to take the charge of the One Person Company. The present shareholder will issue a written consent in the name of the nominee, the nominee must also be a resident and a citizen of Indian. The person nominated must not have any other One Person Company under control.

Incorporation of a One Person Company (OPC) in India

A One person Company can be incorporated as per the procedure explained below :

Director Identification Number (DIN) & Digital Signature Certificate (DSC)

1. Identity Proof: A copy of PAN card is mandatory whereas a copy of the Driver’s license is optional.

2. Address Proof: A copy of the Passport / Election ID / AADHAR card / Driver’s License is sufficient.

3. Passport Size photo

4. Mobile Number

5. Education Qualification

6. Verification signed by the applicant.

Company Name Availability

The name of the company must not be pre-existing, applicants must first search for any existing Trademark and then decide on the company’s name. The Promoter of the company have to provide at least 6 names in the order of their preference to the Registrar of Companies for name availability.

Memorandum of Association (MOA) & Articles of Association (AOA)

When the name of the company has been approved by the Registrar of Companies then the Subscriber have to draft a MOA & AOA specifying their Names, Address, Occupation and the sign the subscription pages of the Memorandum and Articles of Association formed.

Articles of Association is a contract based on mutual understanding between the company and its members defining their rights and duties.

Filing E-Forms with Registrar of Companies

Verification of Documents

The company must pay the desired fees to the Registrar of Companies and must get Stamp Duty to get the documents verified.

Issue of Certificate of Incorporation

Post Incorporation

After the Incorporation of a One Person company some necessary formalities are required immediately, such formalities are:

 Opening a Current Bank account in the name of the Company

 The Company must apply for the Shop Act License

 The Shareholder must be issued a Share certificate by the Company

 The subscription money must be payed through the Current Bank account

of the Company

BENEFITS

1. A One Person Company is a separate business entity and have Limited liability to its members.

2. This type of Company helps an entrepreneur to establish its own business without depending upon a second person.

3. A Legal Auditor is not required in this business unlike any other business enterprise.

4. A One Person Company being a separate legal entity can own property in the Company’s name and the shareholder cannot make any claim upon the property.

For more information on Incorporation, feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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What Are The Things Great Managers Do Differently?

Have you tried to prove yourself as a good manager? Do you sometimes feel you need to get the best out of your position and those working with you?

Here are 7 tips on how you can exploit your subordinates’ and your own potential to the fullest.

• Discover your employees’ strengths It’s very important to know when people are clearly enjoying what they’re doing. Their talents, their values, their hard work, their interests, their distractions, everything plays an important role in assessing an employees strengths and what are they more likely to do better. This way, they could enjoy the work they do for the mutual benefit of the employee and the organisation.

• Offer guidance for their development All the work assigned to the employees should regularly be checked, and any guidance sought should be offered to them. The employees should be focused more on their strengths, and on developing them. It is the duty of the manager to check on it and offer help as and when required for development. If they had the opportunity to do what they do best each day, what would they be doing more of? What development support, on-the-job experiences, coaching or training, off the job trainings might they need to develop these strengths further? These are some important things you should keep in mind for their overall developments based on their strengths.

• Give strength-based feedback – You should look at how your employees are using their strengths for their duties. Tell them when you’re proud of good results that you get after they apply their strengths. Help them to understand when they’re overplaying a strength and how to dial it back in these moments. Encourage them to stop underplaying specific strengths when you see them hesitating or holding themselves back. Your feedbacks play a crucial role in their development.

• Set Clear expectations – The outcome of work, from every input should be pre planned and well defined. Every employee under you must know what is expected out of their work in a defined time period. If this is not clearly defined and agreed upon both ways, there will be lots of confusion when the deadline comes, the atmosphere in the work place would prove to be against benefits and you’ll find unhappy faces and blame games all over the place. This is why it’s very important to discuss in detail with the whole team and clarify wherever needed.

• Identify Uniqueness – Great Managers try to learn what is that one thing which is unique about every employee and work on it. They tend to use the unique factor for the benefit of the organisation.Everyone is good at something. It helps improve the over all productivity in work place with satisfaction. Such identification works wonders if done with each and every employee in any environment.

• Appreciate Subordinates – Some managers are quite reluctant to appreciate their subordinates because they think it will make them overconfident and complacent. But, this is opposed to what is the ideal way of treating and behaving with subordinates. For development and confidence boost, they need appreciation, recognition and appraisal from time to time when they do work that demands these. Everybody likes to get appreciated for the things that they do.Excellence needs praise. Great Managers never make it too late to appreciate.

• Care about subordinates – If you are a manager, you need to take care of people you’re managing. Sometimes, your employees might have certain personal problems coming in the way of organizational duties, you need to care for them, and understand the circumstances through which they are going. They might need an extra leave, they might need your inspirational and motivational words when they are morally down, they might need a boost when things are not going on well and so on.If you prove to be a good manager in this respect, so will they turn out to be good employees.

For more information on feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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