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Payroll management sounds simple in theory. However, it’s surprisingly easy for a growing business to make payroll-related mistakes, especially if it doesn’t have robust processes and systems in place. In some cases, an error can have serious consequences for a business, ranging from damaging employee morale to losses from fraud.

The world of work as we know it has changed. With new technology making it easier to work anywhere, anytime, the traditional 9 to 5 workday is now effectively dead. Flexibility in their work schedules is a key priority for today’s employees, helping them successfully juggle work and personal responsibilities. In fact, according to a poll conducted by Sage People, more than 80 per cent of 3,500 employees globally placed importance and value on flexible and remote working.

The recent spread of COVID  19 has brought a lot of uncertainty, unpredictability and unknown fear around the world. The mass spread of the illness and the number of casualties are causing a dreadful feeling of helplessness amongst people everywhere, fearing for their futures.

The COVID-19 pandemic has had a major impact on almost all economic sectors, and insurance is no exception. The pandemic has resulted in a ‘new normal’ and the digital world has never been more important than it is today - whether it is to purchase groceries and essential supplies or to socialize and virtually catch up with friends and family. Consumers are buying everything online, including insurance. Many of the changes adopted during this exceptional time will remain with us long after the situation has normalized.

The recent coronavirus outbreak and its impact might lead the global economy into a recession if the uncertainty continues beyond the second quarter of 2020. With the escalation of new cases in various countries in the Middle East and numbers touching almost one million patients worldwide, the world economy is under a lot of pressure, leading to the loss of jobs. It has prompted governments to work on providing economic packages to help business owners to sustain through this ordeal.

As a small business owner, you are more than likely tired of paying expensive commercial rentals and fighting traffic daily to get to the office. The good news is that today’s technology means you can work from just about anywhere if you have internet access. By turning your company into a ‘virtual business’, you can trim costs, improve flexibility and give teams the freedom to work remotely.

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